ChinaCast Education (Nasdaq:CAST), a leading for-profit, post-secondary education and e-learning services provider in China, recently announced that its Chairman and Chief Executive Officer, Ron Chan, has issued a letter to Company shareholders providing a detailed response to material questions raised by an analyst regarding two previously completed university acquisitions. In order to provide continued transparency to our shareholders and other interested investors, the Company has posted a copy of the letter on its investor relations website at: http://www.chinacasteducation.com
Established in 1999, ChinaCast Education Corporation is a leading post-secondary education and e-learning services provider in China.
Ocz Technology Group Inc. (Nasdaq:OCZ) announced it has signed an agreement with Silicon Valley Bank (SVB) for asset-based financing of up to $25 million. This new agreement, which is set to expire in February 2012, expands the $17.5 million debt capability available under the prior joint factoring arrangements with SVB and Faunus Group International, Inc. "We were pleased to extend our relationship with Silicon Valley Bank as this $25 million credit line provides increased financing capability at much lower interest rates than our previous factoring arrangements," said Arthur Knapp, OCZ's chief financial officer. "This SVB facility combined with our $22 million equity funding in November 2010 helps finance the working capital required for the increasing demand of our solid state drive product lines, particularly those designed specifically for enterprise applications."
OCZ Technology Group, Inc. designs, develops, manufactures, and distributes computer components for computing devices and systems worldwide.
CyberOptics Corp. (Nasdaq:CYBE) announced that it will hold its conference call to review operating results for the fourth quarter and full year of 2010 on Wednesday, February 16 at 4:30 pm Eastern. The fourth quarter earnings release will be issued following the close of the market that day. The live call by dialing 877-941-7133 prior to the start of the call and providing the conference ID: 4408325. A webcast of the live conference call by visiting the investor relations section of the CyberOptics website www.cyberoptics.com.
CyberOptics Corporation supplies optical process control sensors and inspection systems to control the manufacturing process and ensure the quality of electronic circuit boards worldwide.
Industry Veteran Signs Three Year Executive Contract
EVCARCO Inc. (OTC.BB:EVCA) is pleased to announce that the Company has signed a three year executive agreement with Mr. Mack Sanders, who was recently appointed CEO by EVCARCO’s board of directors. Mr. Sanders will be mainly responsible for the Company’s roll out of its retail franchise model throughout the United States for its environmentally friendly vehicle product line as well as overseeing the day to day operations of the Company.
Mr. Sanders comes to EVCARCO with a strong background in the retail and wholesale automotive industry working in retail locations for Lincoln Mercury, Oldsmobile, and Mercedes. Mr. Sanders started his professional career in 1982 working as a retail sales professional for Pioneer Lincoln Mercury in Lubbock, Texas for their pre-owned vehicle division. Mr. Sanders played a key role in the 1980s in helping develop and maintain the pre-owned vehicle retail locations for Giles Volvo in Houston, Texas. After moving back to Dallas in 1990, Mr. Sanders entered the dealer to dealer automotive wholesale business permanently, working for over 15 years with David Jurecki where to this day, Mr. Sanders has cultivated long standing accounts with automotive franchise owners throughout the country.
“I am excited to join EVCARCO and bring my knowledge and expertise in the retail and wholesale operations, inventory management and new car franchise business, which will enable EVCARCO to build its own franchise brand for environmentally friendly dealerships,” stated Mack Sanders, CEO of EVCARCO.
“Mack Sanders brings a strong history of automotive expertise to our management team, which will enable us to quickly achieve key milestones in 2011,” stated Nikolay Frolov, Chief Financial Officer and Director of EVCARCO.
EVCARCO (www.evcarco.com) is an automotive retail group dedicated to deploying a franchised coast-to-coast network of environmentally friendly dealerships and vehicles.
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