|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ITS NOT A P&D 
-0.038 FLOAT 9.3 Ng was a founding partner and served as Executive Chairman of China Broadband, Inc., now known as YOU On Demand Holdings, Inc. (CBBD.OB), a national pay-per-view and video-on-demand platform in the People’s Republic of China . [ 23 ] China Broadband, Inc.’s common stock gained approval for quotation on the OTC Bulletin Board on December 20, 2007 and changed its name to YOU On Demand Holdings, Inc. in February 2011. [ 24 ] YOU On Demand is the first of its kind in China, offering high quality movies to customers across the country through its Near Video On Demand (NVOD) , Video On Demand (VOD) and Subscription Video On Demand (SVOD) services. Through its subsidiaries the Company engages in value-added services for cable providers, cable broadband, and publishing businesses in China. YOU On Demand is headquartered in New York, NY , with its China headquarters in Beijing . [ 25 ] Ng resigned from his post in 2010 to pursue other endeavors. [ 26 ] Clive Ng is Founder and Executive Chairman of China Cablecom Holdings, a joint-venture provider of cable television services in the People’s Republic of China . The Company was founded in October 2006 and was approved for listing onto the NASDAQ Capital Markets on July 30, 2008. In September 2007, China Cablecom gained operating rights of the Binzhou Broadcasting network in Binzhou, Shandong Province. China Cablecom entered into a series of asset purchase and services agreements with a company organized by State Owned Enterprises (“SOE”), owned directly or indirectly by local branches of China’s State Administration of Radio, Film, and Television (“SARFT”), in five different municipalities to serve as a holding company of the relevant businesses. Pursuant to the terms of an agreement and plan of merger , Jaguar, a special purpose acquisition company merged with and into China Cablecom Holdings, Ltd., its wholly owned British Virgin Islands subsidiary , for the purpose of re-domesticating Jaguar to the British Virgin Islands on April 9, 2008. This merger was the first of its kind for a US public company. In May 2008, China Cablecom issued convertible notes with a principal value of $43,175,000 along with 1,524,994 shares of ordinary shares to a number of investors . China Cablecom also announced its achievement of “Foreign Private Issuer” status, for purposes of the rules and regulations of the U.S. Securities and Exchange Commission . In addition, the company declared its entrance into a framework agreement with Hubei Chutian Broadcasting and Television Networks Co., Ltd., a local state-owned enterprise owned by the Hubei branches of SARFT. This act established a cable TV operation joint venture. On June 18, 2008, China Cablecom announced the completion of the first phase, of its framework agreement with Hubei Chutian Broadcasting and Television Networks Co., Ltd., to acquire a 60 percent economic interest in Hubei Chutian Video & Information Network. This consummation secured over 800,000 additional paying subscribers for China Cablecom. Phase two would represent an additional 800,000 paying subscribers and is pending further due diligence and execution of definitive agreements. On October 9, 2009, the Company underwent comprehensive restructuring of its outstanding debt obligations with holders of its Hubei assets and of its debt securities and majority holders of its ordinary shares. The restructuring strengthened the Company's balance sheet by reducing the overall principal amount of its long-term debt obligations and eliminated cash interest obligations on the new debt securities issued in exchange for its outstanding notes. Simultaneous to the restructuring, China Cablecom announced placement of $33 million in senior secured notes used to satisfy the Company’s remaining obligations to the Hubei SOE under its amended framework agreement. On April 3, 2012, the Company reported that, as per its previous announcement, the Company's joint venture partner Hubei Chutian Radio & Television Information Network Company Limited ("Hubei SOE") has agreed to purchase its Hubei assets for a total of RMB 374 million. The Company is pleased to announce today that it has received the first payment of RMB 50 million. In accordance to the terms of the agreement, the Company has signed a JV Termination agreement with Hubei Chutian Shi Xun Network Company Limited ("Hubei JV"). The company has announced that it will use proceeds of the sale to reduce the Company's outstanding debt and any excess proceeds will be used to increase shareholder value going forward. On October 20, 2011, the Company announced that it had received an offer from its joint venture partners to purchase its assets in Hubei. The acceptance by China Cablecom for the offer was mandated by the State Administration of Radio, Film, and Television (SARFT) and made in compliance with provincial regulatory policies.
China Broadband, Inc. and YOU On Demand (CBBD.OB)
[ edit ] China Cablecom
| Float |
9.3 | mill  |
BRAND NEW MILL READY TO CHEW!
Cash-Flow Positive in less than Two Q's
