China Education Resources Announces Non-Brokered Private Placement
The proceeds of the private placement will be used for general working capital purposes. The private placement is subject to regulatory approval.
ABOUT CHINA EDUCATION RESOURCES INC.
In collaboration with China's various education authorities and experts, China Education Resources Inc. ("CER") is helping to transform the curriculum of the world's largest educational system. Recognizing the need for centralization and increased accessibility to address the Chinese Central government's 2000 education reform policy changes, CER has created educational tools and curricula for China's entire kindergarten through twelfth grade system. By implementing the government's goal of converting the existing educational system from memory-based learning to creative thinking and utilizing a more interactive approach to embrace a world-based economy, CER has played an integral part in positioning China's educational system to reach new heights.
Safe Harbor Statement
This press release contains certain forward-looking statements that reflect the current views and/or expectations of China Education Resources Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
To receive press releases, investor newsletters and corporate updates, please email your request to: admin@chinaeducationresources.com.
The TSX Venture Exchange has not reviewed, and does not accept, responsibility for the adequacy or accuracy of the contents of this press release.
Contact: China Education Resources Inc. (604) 683-6865
Website: http://www.chinaeducationresources.com
________________________________________
Source: China Education Resources Inc.
China Education Resources Announces Acquisition
One-third of the purchase consideration will be paid up front with the balance paid on the first and second anniversary of the closing date, contingent upon YCY generating an annual net profit of 2,000,000 RMB ($324,000 CDN).
Financial statements prepared by YCY management indicate that for the year ended December 31, 2008, YCY gross revenue was 27,604,000 RMB ($4,474,000 CDN) with net profit of 1,948,000 RMB ($315,000 CDN). These financial statements have not been prepared in accordance with U.S. or Canadian generally accepted accounting principles and, when audited, may be different.
C.F. Zhou, Chairman and CEO, said "The YCY acquisition is an important step in our business plan which is to become a leading online provider of educational resources and services to China's 230 million K-12 students and 12 million teachers. After several years of development, our CERSP portal has developed into a national brand and has a reputation for offering best in-class learning products and services.
The acquisition of YCY provides CER with a strong presence in a number of important markets. YCY has sales offices in seven Chinese provinces and direct contact with 150 city education authorities. The executives of YCY have more than 15 years of sales experience in the educational distribution business and each of the sales team has an average of five years experience.
To date, YCY has been selling products from other developers and, at the same time, developing online education products which require a robust portal such as ours to support their existing product line."
Zhou observed that YCY, already a profitable venture, will be able to extend its market reach by using the CERSP portal. "There is natural synergy between our companies. Both will benefit from this acquisition."
This acquisition is subject to the approval of relevant regulatory authorities.
ABOUT CHINA EDUCATION RESOURCES INC.
In collaboration with China's various education authorities and experts, China Education Resources Inc. (CER) is helping to transform the curriculum of the world's largest educational system. Recognizing the need for centralization and increased accessibility to address the Chinese Central government's 2000 education reform policy changes, China Education Resources Inc. has created educational tools and curricula for China's entire kindergarten through twelfth grade system. By implementing the government's goal of converting the existing educational system from memory-based learning to creative thinking and utilizing a more interactive approach to embrace a world-based economy, CER has played an integral part in positioning China's educational system to reach new heights.
Safe Harbor Statement
This press release contains certain forward-looking statements that reflect the current views and/or expectations of China Education Resources Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
To receive press releases, investor newsletters and corporate updates, please email your request to: admin@chinaeducationresources.com.
The TSX Venture Exchange has not reviewed, and does not accept, responsibility for the adequacy or accuracy of the contents of this press release.
Contact:
China Education Resources Inc. (604) 683-6865
Website: http://www.chinaeducationresources.com
China Education Resources Grants 450,000 Options, Cancels 300,000 Options, 1,150,000 Options Expire
ABOUT CHINA EDUCATION RESOURCES INC.
In collaboration with China's Ministry of Education Curriculum Development Center (CDC), China Education Resources Inc. (CER) is helping transform the curriculum of the world's largest educational system. CER provides modern K-12 education content and services for education professionals, administrators, teachers, tutors, students and parents through its CERSP portal and 36 sub portals, including "My Study Room" and the school-wide, "Education Services Portal" (ESP). As a strategic partner for implementing the government's goal of modernizing its education system and learning procedures, CER is positioned to become China's largest online education service and content provider in China's kindergarten through twelfth grade market.
Safe Harbor Statement
This press release contains certain forward-looking statements that reflect the current views and/or expectations of China Education Resources Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
To receive press releases, investor newsletters and corporate updates, please email your request to: admin@chinaeducationresources.com.
The TSX Venture Exchange has not reviewed, and does not accept, responsibility for the adequacy or accuracy of the contents of this press release.
Contacts:
China Education Resources Inc.
Mr. Craig Bird
Shareholder/Investor Information
(215) 885-4981
(215) 885-4982 (FAX)
Email: CHBird@segue.biz
Website: http://www.chinaeducationresources.com
________________________________________
Source: China Education Resources Inc.
China Education Resources Announces Fiscal 2007 Annual Financial Results
For the year ended December 31, 2007, the Company reported aggregate sales of $1,439,637 (2006: $1,435,581). Sales revenue of $998,810 (2006: $nil) was attributable to revenue derived from teacher training service through the internet portal and $440,827 (2006: $1,435,581) was from the Company's traditional business, book selling, with related cost of sales of $240,694 (2006: $752,619).
Selling and general and administrative expenses
For the year ended December 31, 2007 selling and general and administrative expenses were $2,991,103 compared to $2,295,767 recorded in 2006 and reflect an increase in activities related to the internet portal and working to complete a registration statement in the US.
Web-site operating costs
The Company recorded web-site operating costs of $1,641,093 for maintenance and updating of the portal and web-sites.
Products - Operations
The goal of CER is to position CERSP.com as China's central on-line location for the K-12 education sector (students, teachers, parents, schools, government and administrators). These education users can access, discover, learn, socialize, create and share new curriculum materials. CERSP is an advanced learning, working and sharing platform that offers China's teachers, students, administrators, and parents a wide range of services and products.
CER's vision is to take the world's largest education system into the twenty-first century and make CERSP.com the world's largest on-line community. The Company currently is focused on the marketing, sales and continuing development of its educational internet portal. The portal features online teacher training programs, a student social network (which will include online tutoring and training programs), and supplemental materials and textbooks.
Teacher Training
To gain rapid adoption of China's new curriculum and the internet portal system, CER and the CDC initially focused on the development and on-line training of the new curriculum for teachers. The portal now contains hundreds of thousands of pages of new curriculum covering all key subjects. In collaboration with the CDC, CER completed 25 online government certificate courses aimed at the primary, middle school, and high school teachers.
Teacher training beta tests were completed in January 2007 and in August 2007 the CDC again adopted the CERSP portal in training 47,000 teachers for the new curriculum certificate program, which was the largest on-line training program ever done in China. The program consists of 25 courses, 14 of them were newly developed, and is divided into two modules. One module covers teachers from kindergarten to grade 9 and the second module covers the high school level teachers from grades 10-12.
The teacher-training program is one of the sources of revenue of the portal and CER believes that it will be able to capture a sizeable percentage of this $1.3 billion annual training market. China's 12,000,000 teachers not only have to be trained to teach the new curriculum but must participate in continuing education to maintain their teaching certification. Currently the portal's capacity is 500,000 simultaneous participants and CER is now working towards a capacity of over one million simultaneous users.
Education Service Portal
In April 2008, the Company launched its beta version of comprehensive Education Services Portal ("ESP"). ESP is a natural extension of the CER education portal, CERSP, and helps to organize the wealth of teaching, learning, and administrative resources available through CERSP at the individual and school levels.
The school administrators, teachers, students and parents can use ESP to upload and download education resources according to specific learning objectives. It enables teachers to communicate and work collaboratively with each other by providing them with the ability to share and exchange lesson plans, support materials, experiences, and even entire course modules. Students can use the Student Activity Center ("the Center"), to collaborate, work jointly on school projects, share learning experiences and even play educational games.
The ESP Testing and Assessment Center ("TAC"), enables schools to create and administer tests and assessments that align with learning objectives and automatically reports raw data results and various analyses that can be used to identify areas in which the student may need extra help and recommend learning strategies. The TAC provides a repository for education E-portfolios, which are complete records of each student's learning and achievements.
The Student Activity Center provides an informal environment where students can gather online to visit with each other, find relaxing, education-related activities, and to play learning games using points they earn from their educational achievements. The Center also features a customized, unique education resource search function.
OUTLOOK
The Company is preparing its online based teacher training program via CERSP and commercialization of its new ESP. In addition, CER is cooperating with California State University Monterey Bay ("CSUMB") Extended Education and International Programs ("EEIP") to implement a Chinese Mandarin web training program, which targets students in the United States and a commercial online English-as-a-second-language ("ESL") program available in China. The Company is also looking into the commercialization opportunities for on-line advertisement on its education portals and the provision of on-line student tutorial services. The Company expects that it can achieve a breakeven bottom line for the current financial year if the progress of the above matters is in accordance with the plan of management.
ABOUT CHINA EDUCATION RESOURCES INC.
In collaboration with China's Ministry of Education Curriculum Development Center, China Education Resources Inc. (CER) is helping to transform the curriculum of the world's largest educational system. Recognizing the need for centralization and increased accessibility to address the Chinese Central government's 2000 education reform policy changes, China Education Resources Inc. has created educational tools and curricula for China's entire kindergarten through twelfth grade system. By implementing the government's goal of converting the existing educational system from memory-based learning to creative thinking and utilizing a more interactive approach to embrace a world-based economy, CER has played an integral part in positioning China's educational system to reach new heights.
Safe Harbor Statement
This press release contains certain forward-looking statements that reflect the current views and/or expectations of China Education Resources Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
To receive press releases, investor newsletters and corporate updates, please email your request to: admin@chinaeducationresources.com.
The TSX Venture Exchange has not reviewed, and does not accept, responsibility for the adequacy or accuracy of the contents of this press release.
Contacts:
China Education Resources Inc.
Mr. Craig Bird
Shareholder/Investor Information
(215) 885-4981
(215) 885-4982 (FAX)
Email: CHBird@segue.biz
Website: http://www.chinaeducationresources.com
________________________________________
Source: China Education Resources Inc.
China Education Resources Launches China's First Comprehensive Education Services Portal (ESP)
"We are delighted to bring a breadth and depth of online education support to the China K-12 marketplace that heretofore simply has not existed," noted CER Chairman and CEO, Chengfeng Zhou, "In the coming weeks, we will be announcing additional features that make ESP an even more attractive proposition for schools throughout China." CER recently added new staff to its China-based operations to support the growing demand for the new ESP service.
ESP provides administrators, teachers, tutors and parents with the tools they need to deliver the highest quality education to China's children in the 21st century. School administrators can now organize school-wide and across an entire school system. Teachers can now integrate curriculum programs with other teachers, schools, tutors and communicate directly with parents too. Many other education procedures are now possible using ESP, such as school calendars and announcements, homework assignments, tutoring, testing, progress reports, grades and more.
"There is so much excitement about our ESP portal," Zhou continued, "More than 500 schools have applied for accounts, of which we have opened and activated 100 schools, including more than 100,000 teachers, students and parents. We are overwhelmed with applications and our tech teams are working to open accounts for 500 schools by the end of June and 1000 schools by the end of 2008. The activation process is more labor intensive because we are registering and recording names, e-mail addresses and other pertinent information for every teacher, parent and student. Furthermore, our commercialization strategy is on track and we anticipate announcing the various payment plans this summer, after we have completed our beta-testing in the May-June timeframe."
ESP's success and future potential are evident by what education professionals say about this innovative internet service. Here are just a few of the comments sent to China Education Resources, Inc.:
Mr. Fang Jun, headmaster of Chaoyang School, Yueyang City of Hunan Province said, "ESP is essential to bringing China into the 21st century and is becoming a basic necessity to our school."
Mr. Huang Lifeng from Donglai school of Zhangjiagang City of Jiangsu province added, "ESP provides an online interactive education resource center where teachers can exchange lesson plans, course modules, and other materials."
Ms. Liang Fang from Bingzhou Education Bureau of Shandong province said, "ESP supports the national curriculum reform initiatives and teachers' continuing study very well. We have sent the notification to the schools of our region to open accounts for ESP. More than 30 schools in the region have applied ESP immediately after the notification."
ABOUT CHINA EDUCATION RESOURCES INC.
In collaboration with China's Ministry of Education Curriculum Development Center, China Education Resources Inc. (CER) is helping to transform the curriculum of the world's largest educational system. Recognizing the need for centralization and increased accessibility to address the Chinese Central government's 2000 education reform policy changes, China Education Resources Inc. has created educational tools and curricula for China's entire kindergarten through twelfth grade system. By implementing the government's goal of converting the existing educational system from memory-based learning to creative thinking and utilizing a more interactive approach to embrace a world-based economy, CER has played an integral part in positioning China's educational system to reach new heights.
Safe Harbor Statement
This press release contains certain forward-looking statements that reflect the current views and/or expectations of China Education Resources Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
To receive press releases, investor newsletters and corporate updates, please email your request to: admin@chinaeducationresources.com.
The TSX Venture Exchange has not reviewed, and does not accept, responsibility for the adequacy or accuracy of the contents of this press release.
Contacts:
China Education Resources Inc.
Mr. Craig Bird
Shareholder/Investor Information
(215) 885-4981
(215) 885-4982 (FAX)
Email: CHBird@segue.biz
Website: http://www.chinaeducationresources.com