|By PR Newswire||
|December 24, 2012 08:00 AM EST||
SHENZHEN, China, Dec. 24, 2012 /PRNewswire/ -- Uni Core Holdings Corporation (OTC Bulletin Board: UCHC), a Hong Kong-based holding company, regrettably informs its shareholders that it has filed for bankruptcy protection for its Shenzhen Factory of the APT Paper Group ("APT"), one of UCHC's subsidiaries. The Shenzhen facility was negatively impacted by the downturn of the Chinese and worldwide economy coupled with a shortage of required cash flow to meet current production needs. APT Shenzhen has been struggling for a long time and management has decided to close it down.
UCHC's Board believes that this move will allow the company to devote the expected cash savings to bolster the healthier APT Group's Qingdao and Suzhou factories, which remain fully operational.
UCHC's management's goal is to turn the remaining APT operations profitable within six (6) months.
UCHC plans to soon initiate a Valuation Report and an Audit of Prosperous Agriculture Company Limited, its farm business, in order to consolidate their financial results with the Group.
UCHC recently appointed a New York-based investment advisor to aid in the business restructuring and an investment banker to potentially raise capital.
James Wu, CEO of UCHC, commented that, although the above-announced recent moves will provide short term pain, the results should ultimately prove positive.
About Uni Core Holdings Corporation (UCHC.OB)
Uni Core through its subsidiaries develops, manufactures and distributes environmental friendly paper and agricultural products based upon its proprietary technology and supply chains. The Company was founded in 1998 and is headquartered in Hong Kong.
APT Paper Group, a wholly owned subsidiary, headquartered in Shenzhen, Guangdong, China, was founded in November 1993. UCHC acquired 100% of APT in June 2010. Based upon proprietary technology, production, marketing and global supply chains, APT is one of the leaders of the modern environmentally friendly packing and honeycomb paper products industry in China. APT's products are produced from recycled materials and are recyclable. APT's products include honeycomb paper pallets, honeycomb paper panels, honeycomb paper cartons, honeycomb paper coffins, honeycomb paper cushions, paper slip-sheets, paper corner protectors and corrugated paper products. APT holds patents throughout the world on many of its products. Some of APT's customers include Wal-Mart, Costco, Sam's Club, Sony, Nokia, DHL, Haier, Hisense, among others.
Prosperous Agriculture, 51% of which is owned by UCHC, is headquartered in Xi'an, Shaanxi Province, China. Prosperous Agriculture manufactures and distributes agricultural brands and has also established a national agricultural resources chain direct sales platform through the opening and acquiring of agricultural resources direct sales outlets and dealers, and by working with well-known manufacturers of agricultural products. Prosperous Agriculture integrated more than 2,000 agricultural resources.
Safe Harbor Statement:
This press release is neither an offer to sell, nor a solicitation of offers to purchase securities.
The sales of any private securities mentioned above were made in reliance upon Rule 506 of Regulation D and Section 4(2) of the Securities Act of 1933, as amended (the "Act") and such securities have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release contains forward-looking statements within the meaning of the federal securities laws, including statements concerning product development activities and sales and licensing activities. Such forward-looking statements are not guarantees of future performance, are sometimes identified by words of condition such as "should," "could," "expects," "may," or "intends," and are subject to a number of risks and uncertainties, known and unknown, that could cause actual results to differ materially from those intended or anticipated. Such risks include, without limitation: that financings will be insufficient for the Company's needs; that the economy may worsen; that the market will not respond positively to our business model or decisions; challenges arising from competition; problems encountered in commercializing our products; roadblocks experienced in sales and marketing activities; longer than expected sales processes; difficulties in recruiting knowledgeable and experienced personnel, and problems securing the necessary financing to continue operations should revenues not be sufficient to offset expenses. Further information concerning these and other risks is included in the Company's filings with the Securities and Exchange Commission, including the Company's most recent annual report on Form 10K and quarterly reports on form 10Q. The Company undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances occurring after the date of this press release.
For more information, please contact:
SOURCE Uni Core Holdings Corporation
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Jan. 22, 2017 11:00 PM EST Reads: 995
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Jan. 22, 2017 07:45 PM EST Reads: 3,864
"LinearHub provides smart video conferencing, which is the Roundee service, and we archive all the video conferences and we also provide the transcript," stated Sunghyuk Kim, CEO of LinearHub, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 22, 2017 03:15 PM EST Reads: 1,688
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
Jan. 22, 2017 02:30 PM EST Reads: 3,760
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Jan. 22, 2017 02:00 PM EST Reads: 5,828
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Jan. 22, 2017 02:00 PM EST Reads: 5,295
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Jan. 22, 2017 01:45 PM EST Reads: 3,231
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Jan. 22, 2017 01:00 PM EST Reads: 4,393
Discover top technologies and tools all under one roof at April 24–28, 2017, at the Westin San Diego in San Diego, CA. Explore the Mobile Dev + Test and IoT Dev + Test Expo and enjoy all of these unique opportunities: The latest solutions, technologies, and tools in mobile or IoT software development and testing. Meet one-on-one with representatives from some of today's most innovative organizations
Jan. 22, 2017 12:45 PM EST Reads: 1,692
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Jan. 22, 2017 11:45 AM EST Reads: 2,976
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Jan. 22, 2017 11:30 AM EST Reads: 3,743
"A lot of times people will come to us and have a very diverse set of requirements or very customized need and we'll help them to implement it in a fashion that you can't just buy off of the shelf," explained Nick Rose, CTO of Enzu, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 22, 2017 09:30 AM EST Reads: 4,774
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
Jan. 22, 2017 09:30 AM EST Reads: 3,027
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud enviro...
Jan. 22, 2017 08:30 AM EST Reads: 5,017
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
Jan. 22, 2017 08:30 AM EST Reads: 992
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Jan. 22, 2017 07:15 AM EST Reads: 1,984
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
Jan. 22, 2017 03:45 AM EST Reads: 5,079
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Jan. 22, 2017 02:30 AM EST Reads: 2,922
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, Sandy Ca...
Jan. 22, 2017 02:30 AM EST Reads: 7,934
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Jan. 22, 2017 02:00 AM EST Reads: 11,778