Breaking News: China Wi-Max (CHWM)
China Wi-Max Communications, Inc. (OTCBB: CHWM)
China Wi-Max Communications, Inc. Signs Wholesale Carrier Agreement With Dragon Telecom International Limited of Hong Kong
DENVER, CO and BEIJING--(Marketwire - 04/29/10) - China Wi-Max Communications (OTC.BB:CHWM - News) signed a Wholesale Carrier Agreement with Dragon Telecom International, Ltd (DTIL). The agreement gives CHWM access to 2.5 Gbps today and can be expanded in the future to 10Gbps and 100Gbps via dual, as in protected, fiber connection between Hong Kong and mainland China. This agreement will enable CHWM to further expand and grow its business by providing international connections to its fiber and wireless networks in China. Companies in China, and outside of China, will be able to easily provision Private Line Services via International Carrier Meet Me Centers in Hong Kong to and from the following locations in China: Beijing, Shanghai Wuhan, Guangzhou, Shijiazhuang, Zhenzhou, Changsha, Tianjin, Jinan, Hefei, Nanjing, Suzhou, Xian, Chengdu, Chaongqing, Xuzhou. The presidents of both companies agree that this strategic alliance can help enhance both companies desire to grow their revenues and to add additional competitive services to its service offerings.
About China Wi-Max Communications, Inc.
China Wi-Max Communications, Inc. (OTC.BB:CHWM - News), a world-class telecommunications and IP transport company, was formed to take advantage of the rapidly expanding wireless and landline communications needs in China. The goal of China Wi-Max Communications is to become the premier provider of broadband technology and allied services in the Chinese market. Building on world-class technical experience and proven management skills, China Wi-Max Communications is approaching its market with the tools that experience suggests are necessary to achieve success. The Company is headquartered in Denver, Colorado and its common stock is listed on the OTC Bulletin Board under the symbol "CHWM." For additional information, please visit the Company's website at www.chinawi-max.com.
About Dragon Telecom International Limited
Dragon Telecom International Limited is a member of the Asiana Dragons, Inc. (ASDG) group of companies established to deliver high quality voice, data and other telecommunication services in China, Hong Kong, Vietnam, Cambodia and North America. Over the past several years the Company's management has obtained the necessary licensing and developed the relationships and entered into contracts that will enable it to rapidly expand its business in these high growth markets. The Company is headquartered in Hong Kong and is currently providing voice services to Vietnam and China. For additional information about the Company and the Asiana Dragons, Inc. group, please visit the website at www.asianadragons.com.
'Safe Harbor Statement'
This press release contains forward-looking statements that involve risks and uncertainties. The statements of this Summary Overview are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results, events and performances could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results, expressed or implied, to differ materially from expected results. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making an investment decision.
Contact:
For Investment Information regarding China Wi-Max Communications, Inc. please contact:
Jim Prange
920.912.7444
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Phil Allen
303.875.1044
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Richard Carpenter, CGC
415.332.7200
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China Wi-MAX Communications, Inc. (OTCBB: CHWM)
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China Wi-Max Communications, Inc., headquartered in Denver, Colorado, is a world-class telecommunications and IP transport company, formed to take advantage of the rapidly expanding wireless and landline communications needs and opportunities in China.
The goal of China Wi-Max Communications is to become the premier provider of broadband technology for both fiber and optical communications for commercial and wholesale customers with allied services in the Chinese market. Building on world-class technical experience and proven management skills, China Wi-Max Communications is approaching its market with the tools that experience suggests are necessary to achieve success.
By combining both fiber and Wi-Max networks, China Wi-Max will be able to provide the best of both worlds. High bandwidth and high quality of service from fiber, will enable China Wi-Max to feed a large number of customers at an economical cost.
China Wi-Max has secured licensing to use wireless spectrum in Beijing, Hangzhouand Shanghai with plans to expand to then key cities.
Major Telecom Network in China
China Wi-Max was formed in 2006 to provide commercial customers in China with high bandwidth connections by building, owning, and operating Internet Protocol (IP) based broadband networks, using Company owned optical fiber and exclusive access to WiMAX capable wireless spectrum.
Service to retail end customers and wholesale services to Internet-based companies and other ISPs with its fiber resources will be provided.
In China, higher bandwidth demand leads to higher profit margin. The China Wi-Max Four City Planintends to provide at least 18.3G bandwidth for wholesale service in its by the end of 2013.
Full commercial operation is expected to begin in Beijing during the Second Quarter of 2010.
The China Wi-Max Four City Plan includes:
- Beijing
- Hangzhou
- Shanghai
- Tianjin
In total ten key cities in China have been targeted. This represent approximately eight percent of the population of China, or 100 million people.
- Beijing
- Tianjin
- Dalian
- Qingdao
- Xi’an
- Shanghai
- Hangzhou
- Chongqing
- Guangzhou
- Shenzhen
Wi-Max Technology Competitive Advantage
China Wi-Max owns and is developing fiber optic networks in top Chinese cities. These fiber loops run through business districts passing through more large revenue customers per mile than in residential areas. Currently, the fiber is out of reach for businesses located only a few blocks or miles away. With the shift of technology, China Wi-Max is able to reach those underserved business customers, giving China Wi-Max a competitive advantage.
The Wi-Max Forum established in 2001, develops standards for telecom equipment capable of delivering high-speed bandwidth over a wireless access. The use of Wi-Max technology for the last mile, allows China Wi-Max’s fiber to service its customer base in every direction for five or more miles. This dramatically increases the number of potential customers and leverages the Company’s network at a low cost.
China Wi-Max already owns and is planning on purchasing eight additional fiber rings in the largest cities in China, and to extend its network utilizing wireless technology for miles beyond those fiber rings. This allows the Company to target the highest-margin business districts in cities, and to use high-bandwidth wireless antennas to extend its network at a low cost. One real advantage is that the Company will not be necessarily dependent on leasing each customer line from an incumbent telecom company. Not only does this prevent delays, but it is also more economical provides high “Quality-of-Service” and advanced applications on its network that would be difficult and more expensive to provide otherwise.
Pro Forma Revenue and EBITDA of $21.4M USD and $15.0M USD 2013 End
This past October and November, China Wi-Max installed equipment necessary to light its fiber network in Beijing, and is adding the first beta customers and initial revenue.
Projected Pro Forma Revenue and EBITDA:
- 2011 End: $3.6MM USD and $(0.5) MM USD by the end of 2011
- 2013 End: $21.4MM USD and $15.0MM USD by the end of 2013
The Company projects recurring revenue growth based on its fiber ring ownership and development, combined with the use of its government licensed and protected wireless spectrums.
A recent CFA report notes: Positioned to grow rapidly. CHWM has raised about $4 million and spent it prudently. They have MOU’s with local entities that recognize the benefit of partnering with a US listed company. The Capital IQ data base was searched for telecommunications investments (PIPES and IPOs) over the period January 1, 2009 to March 3, 2010 resulting in 218 transactions (PIPES and IPO’s) of $86 billion capital invested in the last 14 months where a transaction amount was disclosed. The Asia Pacific region had 55 transactions or about 25% of the global total. The average Enterprise Value/Revenue for transactions under $10 million was 6.7 times. (Venture Research, LLC)
Beijing Fourth Ring Road and China Wi-Max 47 Mile Fiber Ring
With the equipment necessary to light its fiber network installed in Beijing and the first beta customers China Wi-Max is positioned to continue to expand with the many large commercial buildings within reach of China Wi-Max’s 47-mile fiber ring around Beijing’s Fourth Ring Road. China Wi-Max is currently engaged in strategic negotiations with multi-tenant building owners and managers to provide broadband Internet access to those buildings and their tenants.
The 47-mile fiber ring, when combined with the licensed broadband wireless access, is especially valuable because further fiber development in the center of Beijing, which is inside China Wi-Max’s fiber ring and is currently discouraged. China Wi-Max will use its government-licensed and protected wireless band at 5.8 GHz to extend broadband access eventually to most of Beijing.
Shanghai and Hangzhou China Wi-Max Targets
Combined Population Approximately 27 Million
China Wi-Max is also licensed by the government to use its wireless 5.8 GHz spectrum in Shanghai and Hangzhou.
In addition, the Company currently owns 17 miles of fiber in Hangzhou, where it intends to develop and grow a significant, recurring revenue stream based on the success of the model being established in Beijing.
Shanghai is the largest city in China and one of the largest metropolitan areas in the world, with over 20 million people, while Hangzhou has a population approaching 7 million people.
Agreements are in place to acquire fiber and broadband wireless licenses in seven additional Chinese cities in the near future, thereby addressing a population approaching 100 million.
China has already surpassed the U.S. as the largest market in the world for both Internet users and wireless phone subscribers. It is still growing quickly. During 2008, Internet users in China increased 41.9% to 298 million (Figure 3), with an Internet penetration rate of 22.6%, only slightly higher than the world average of 21.9% and ranking only 87th among all countries.
Bottom Line: there is room for China’s growth to continue.
Agreement to Purchase 150 Kilometers (90 miles) of Fiber throughout Shanghai
An agreement has been reached, through its wholly-owned foreign entity subsidiary, Yuan Shan Shi Dai Technology Development Company (”Shi Dai”), to purchase 150 Kilometers (90 miles) of fiber throughout Shanghai on very favorable terms. Shanghai is one of the world’s largest cities with an estimated 18 to 20 million people.
China Wi-Max intends to light its four Core fiber ring within the first quarter 2010. Initially, the network will be built as a redundant Ethernet Backbone. In the future with no changes to the fiber, WDM (Wave Division Multiplexing) and DWDM (Dense WDM) can push this to much higher limits.
This bandwidth can easily service well over 1000 of Shanghai’s most desirable buildings. As in preceding China Wi-Max markets, the core network is dramatically extended over a Licensed 5.8GHZ wireless network. The ability to expand coverage using point-to-point links over fixed wireless broadband to further enhance customer penetration at remarkably low cost, presents significant additional potential.
This option will allow China Wi-Max to expand its valuable core asset base of fiber optic cable networks and wireless licenses throughout the major metropolitan areas in China. This agreement represents a significant step in fulfilling the Company’s business plan objectives and will significantly enhance the Company’s ability to provide telecommunication services in Shanghai, which will be the site of World Expo later this year.
In 2009 China Wi-Max Fiber was made operational in Beijing and the China Wi-Max trials were successfully demonstrated.
Four City 18 Month Plan: The “four-city” plan intends to cover up to 200,000 businesses by the end of 2013. The three cities are Beijing, Hangzhou, Shanghai and Tianjin.
The “four-city” financial model provides a framework for analyzing the financial value to a prospective investor of CHWM. The intention of this modeling is to estimate funding needs and project expected rate of returns.
Current Operations
China Wi-Max has secured the use of wireless licenses to build networks in Beijing, Hangzhou and Shanghai.
Beijing Market
China Wi-Max is currently introducing service offerings to customers on its first fiber network in Beijing.
The Company has a team in place in its Beijing office to provide engineering, customer support and sales. Numerous marketing studies have been completed indicating that the market for high quality broadband connections in Beijing is underserved in capacity and/or quality of service.
The Company’s network is designed to provide the reliability, redundancy, scalability and other features expected of a carrier class network.
Hangzhou Market
The Company intends to begin network operations in Hangzhou later this year and currently owns fiber with access to wireless spectrum in Hangzhou.
Geographic Expansion
The Company plans to expand into ten of the largest cities in China. In each city, China Wi-Max will purchase and deliver a fiber optic network with a wireless overlay in the most attractive areas to connect bandwidth-hungry business customers. The Company has a success-based business model, where capital is expended as customers are added.
Access the China Telecom Market
The opportunity for foreign companies to actively participate in the Chinese telecommunications market has only recently become a reality. Foreign investors may now own up to 49% in basic telecommunication enterprises and up to 50% of value-added telecommunication enterprises.
Today, there are only three major telecommunications carriers in China: China Telecom, China Unicom and China Mobile. The opportunity for foreign ownership is now and China Wi-Max has access and infrastructure in place to take advantage of this opportunity.
In mid-2008 China became the largest broadband market in the world, finally passing the US. Going into 2009, China’s broadband subscriber population passed the 80 million milestone. China has also become the top DSL market in the world. Despite this huge subscriber base, penetration remains comparatively low with significant room for growth. China tied the US as the online population leader in early 2008 as the number of Internet users soared to 221 million. Entering 2009, the online population reached 300 million.
The China Wi-Max Advantage
China Wi-Max is operating in the Chinese value added telecommunications market today and is building IP Transport/ telecommunications networks by acquiring and deploying optical fiber and wireless assets.
- China Wi-Max has access to licensed spectrum in Beijing, Shanghai and Hangzhou, and owns optical fiber in Beijing and Hangzhou.
- China Wi-Max plans to obtain additional wireless spectrum access in seven markets and purchase fiber assets in eight markets in 2010.
- The first network in Beijing is deployed and the Company is validating network performance and acquiring customers.
Through use of licensed wireless spectrum, the Company can reach customers that are up to ten miles away from its fiber network, providing access to most customers in its large target markets, giving the Company a truly unique opportunity in these cities.
China Wi-Max’s Advanced Telecom Network
The Company’s network in Beijing consists of a packet-based fiber optic metropolitan network along the Fourth Ring Road in the city.
- This carrier Ethernet network provides 10 Gbps line rate bandwidth and can evolve to 100 Gbps using single wave technology.
- A further exponential increase in bandwidth is possible by using Dense Wave Division Multiplexing (DWDM).
- Through its local Chinese partners, the Company also has access to licensed 5.8 GHz wireless spectrum which will be used to provide last mile point to point to multipoint connections between buildings.
- China Wi-Max intends to use this to extend the reach of its fiber network (10 miles or more) by connecting buildings beyond the network to those on the fiber ring through roof-top wireless antennas.
- Using integrated optical fiber and wireless networks greatly increases the potential number of customers the Company can service.
- The network will support a range of options to customers from emulated technologies for legacy customer equipment, such as ATM, to current flat IP protocols.
The Telecom Network Provides for the Most Demanding Customers
Business customers in China are increasingly demanding high-quality, high-capacity telecom service. The China W-Max network’s advanced technology and the resulting quality of service gives the Company a competitive edge in the marketplace. Customers in office buildings and towers connected to the Company’s network will receive the reliability, redundancy, scalability and other features expected of a true carrier class network.
Beyond pure bandwidth, the Company expects to offer higher-value services such as:
- Voice over Internet Protocol (VoIP)
- Virtual private networks (VPN)
- Video conferencing
- Internet Protocol TV
- Software as a service
- Data backup
- Other services
China Wi-Max has the right network and technology to serve this growing market.
Greater Coverage Through Wireless Technology
Through local Chinese partners, China Wi-Max has access to large blocks of 5.8GHz licensed wireless spectrum in Beijing, Shanghai and Hangzhou.
- With a wireless receiver on top of a customer’s building.
- Within range of a corresponding wireless receiver on the Company’s network, China Wi-Max will be able to provide broadband connections to buildings within 10 miles of its actual fiber.
- The ability to use wireless technology for last mile access dramatically expands the customer base the Company can provide services to and dramatically increases the value of its network.
- The Company is currently offering high-speed broadband connections to its initial customers in Beijing.
- In addition, demanding customers such as banks are increasingly using more than one service provider to ensure network redundancy.
- Purchasing redundant connections from the Company ensures continued network connectivity even if the customers primary provider’s service fails.
The ChinaOpportunity
With a population of 1.3 billion, China is the biggest country in the world and is experiencing a period of rapid growth in internet bandwidth needs. China’s internet user base increased by 26 million in 2006: a growth rate of 23.4%.
China now has more internet and wireless phone users than any other country in the world. However, only 20% of China’s population is connected to the internet, compared to over 70% in the U.S. In addition, China is still experiencing economic growth the United States can only dream of.
This underscores the fact that today, China is the right place to be and delivering broadband telecommunications services is a great way to take advantage of this very large market opportunity.
Seize the Opportunity
China Wi-Max is well-positioned to benefit from exploding growth in demand for broadband services in China, one of the fastest growing countries in the world. By combining fiber and wireless assets, the Company is reaching high-value business customers with a carrier-class network capable of providing huge bandwidth and advanced services.
Management
A strong management team is in place with extensive experience in international business with an emphasis in China, telecom technology and acquisition expertise including public and private companies and start-ups.
Dr. Allan Rabinoff
Chairman/China Business Development
Dr. Rabinoff’s 25 years of business experience in China and the Far East have provided him with extensive knowledge in doing business in China including important international commercial/personal relationships. Throughout his business career, Dr Allan Rabinoff has focused on maximizing opportunities in a rapidly changing business environment.
Dr. Rabinoff has international experience in the areas of project identification, contract negotiation, cross-cultural team building, marketing, sales, Merger & Acquisition strategy, and business development. He has a Ph.D. from the University of Maryland and received his Masters and undergraduate degree from the University of Wisconsin.
Dr. Rabinoff has been involved in the area of telecommunications for the past fifteen years. He is a principle in Intelligent Network Communications, LLC and IP2IP, LLC. Both companies operate in the international telephone transport arena.
Steven T. Berman
President & CEO
Mr. Berman is a senior telecommunications executive with over 20 years of business and legal experience. In addition, he has served as corporate general counsel, operations manager, a regulatory and compliance strategist and as a contract negotiator. His background includes managing staff and operations in telecom companies plus financial and manufacturing operations.
His extensive telecommunications background comes from serving ten years at the National Rural Telecommunications Cooperative (NRTC) where in 1994 he helped launch DIRECTV, the nation’s first high powered Satellite Dish Service and WildBlue Broadband Satellite, one of the nation’s first two-way satellite-delivered broadband internet services. Mr. Berman served as Senior Vice President, Business Affairs and General Counsel at the NRTC and was also Corporate Secretary-Treasurer. He was the NRTC’s principal liaison with strategic partners, financiers and its largest customers. Mr. Berman managed business relations and legal components of manufacturing, transport, storage, insurance and delivery of various telecommunication products and services – including Direct Broadcast Satellite, broadband, high-speed Internet access and wireless operations, warranty programs, and call center support.
Prior to joining China Wi-Max Communications he served as President and CEO of First Capital Surety and Trust Company (formerly Morgan Chase Trust Company) where he used his business, management, financial and legal skills to successfully turn around the $200+ million regulated bank and trust company. The company was re-established as a leader in its field.
Mr. Berman is an attorney admitted to the Wisconsin, Pennsylvania and District of Columbia bars. He is also a member of the American Bar Association. He received his Juris Doctorate from the University of Wisconsin Law School, Madison, Wisconsin in 1987. Prior to his corporate career he was a practicing attorney based in Washington, D.C., involved with complex civil litigation.
Frank Ventura
Chief Financial Officer
Mr. Ventura has over 25 years of experience in telecommunications. He spent twenty one years with Sprint during the “Growth Thru Acquisitions” period when over 147 companies were merged into Sprint. As Vice President and Controller-Chief Accountant Officer, he was responsible for Acquisition Studies and Audits, Accounting System Development, SEC, Consolidation, and Tax.
During various periods while at Sprint he was the executive in charge of Flight Operations, System Wide Purchasing, Management Information Systems, Real-estate, and Internal Audit. He was Executive Vice President Administration for two years.
After leaving Sprint Mr. Ventura served as Chief Financial Officer for St. Andrews Telecommunications Inc., and Blue Star Communications Inc. Mr. Ventura also served as Executive Vice President and General Manager of Scott Rice, a large Contract Furniture Dealer.
Dr. Iain Stewart
Chief Technology Officer
Dr. Stewart originally trained as a Physicist and Mathematician. He has 28 years of experience in most aspects of system software development, telecommunications and radio transmission. He was awarded his PhD in Physics for developing a technique for measuring the conductivity of doped Germanium over a range of temperatures to 4.2K and developing the mathematical model necessary for the convergence of three theories of electrical conduction.
In the 80’s, he wrote operating systems, middleware and data-communication protocols for major international corporations including Bell Labs. In the early 90’s he was able to apply this expertise to research in data transport over interference-impaired radio channels which was then used for the evaluation of early digital cellular systems. During the last twelve years he deployed a CDMA network in the USA – and then designed, engineered and deployed nation-wide LMDS networks in the Philippines, Switzerland, & Holland as well as a long-distance fiber network in Poland.
He was also involved in a $7.8B cable upgrade in Germany. Using a proprietary technology, Iain currently works with major US, European and Latin American mobile operators to reduce their cell-site backhaul requirements for GSM and UMTS as they migrate to apseudowire underlay. All networks depend for their profitability on their efficient use of bandwidth while providing the service differentiation necessary for a wide variety of high-value, real-time services such as VoIP and video conferencing.
Dr. Stewart’s mathematical background helps ensure the optimum use of resources while preserving service integrity. His experience in developing communications protocols at every level of the OSI protocol stack helps guarantee network integrity, while his practical experience with the deployment of RF systems helps safeguard transmission integrity.
Steve Heins
Director of Communications
Prior to joining China Wi-Max Communications in January of 2010, as Director of Communications Mr. Heins was Vice President of Corporate Communication and Government Affairs for Orion Energy Systems, a leader in innovating energy and lighting systems based in Plymouth, Wis.
Joining the company in June, 2001, Mr. Heins served as the corporate communications officer for Orion focusing on advocacy and education to promote energy efficiency at the local, state and national levels.
Richard Kranitz
Senior Attorney
Richard A. Kranitz has been an attorney in private practice since 1970 emphasizing securities, banking and business law. Prior to establishing Kranitz & Philipp formerly the Law Offices of Richard A. Kranitz he was with the Milwaukee law firms of Fretly & Kranitz (1982 to 1983), Habush, Gillich, Habush, Davis, Murphy Kraemer & Kranitz (1977 to 1978), McKay, Martin & Kranitz (1973-1976) and Reinhart, Boerner, Van Deuren, Norris & Reiselbach, s.c. (1970 to 1973). Mr. Kranitz served as Law Clerk to the Honorable Myron L. Gordon, U.S. District Court D. Wisconsin from 1969 to 1970. He is a 1969 graduate of the University of Wisconsin Law School. Mr. Kranitz is a director of the Grafton State Bank. He served as venture capital consultant to, and director of, various private companies and entrepreneur and has served at various times as a director of a number of professional, civic or charitable organizations.
Jim Prange
Director of Investor Relations
James Prange has been President of Northern Equity, Inc., since 1995, offering investment banking, capital consultation and private equity formation for emerging growth companies. He has been actively involved in mergers and acquisitions, relationship management, strategic planning and business development for private corporations. From February 2001 to March 2007 he was Vice President Business Development for Orion Energy Systems, Inc.. culminating in completion of a $100 million NASDAQ listed IPO.
From 1989 to 1995 he was founder and President of Renaissance Properties. From 1986 to 1989, he was Vice President of Public Storage, Inc., which developed and operated self-storage facilities that were financed through raising private equity capital. From 1984 to 1986 he was Vice President, Marketing for Hall Financial Group, a national private equity real estate development firm.
He has raised over $100 million of equity capital, has been named National Marketing Director of the Year on three separate occasions, and has participated in over 80 real estate transactions having a cumulative value of over $100 million. He graduated from the University of Wisconsin-Whitewater with a Bachelor of Business Administration degree and with a Master of Science in Business Management degree.
David Gao
Corporate Attorney-China
Mr. David Gao is a member of the Beijing King & Bond law firm where he specializes in providing legal services for multinational corporations. Based in Beijing, Mr. Gao will advise the company in a wide range of corporate, commercial, securities, finance and property rights related legal matters under Chinese laws. Mr. Gao’s business law experience includes mergers and acquisitions, contracts and legal documents for commercial activities, negotiating transactions, joint ventures and private and listed company acquisitions.
Mr. Gao is fluent in written English and Chinese. He has an LLB from Hebei University and an LLM from China University of Political Science and Law. He has been admitted to the China National Bar Association and is fully licensed to practice law. While working for a large state-owned corporation, he received training in Western accounting practices.
Dr. David Fu
Chief Network Engineer-China
Dr. David Fu received his PhD in Communication and Information Systems in 1999 from the prestigious Beijing University of Posts and Telecommunications. His active participation in the spectacular growth of the Chinese telecommunications market has given him an invaluable insight into the industry along with strong personal connections to both large and small Chinese companies. He is “well regarded by” and “well connected to” the telecommunications industry and its governmental supervisory infrastructure.
Prior to joining China Wi-Max company, Dr. Fu served as Vice President of Technology at VLI Communications Co., Ltd. in Beijing where he managed the company’s product development and marketing. He also oversaw R&D process management and control. VLI is headquartered in Sunnyvale, California with a research center in China and a branch in Japan. VLI is funded by leading venture capital firms.
In addition to his management skills, Dr. Fu has a strong technical background in broadband data communication, multimedia technology and wireless/mobile networks with solid experience in wireless communication infrastructure project management. He also has experience in R&D product management, engineering project management along with departmental and executive management.
He is a native Chinese who can also read and write in English. David has excellent communication and technical training skills in both languages and has worked closely with American companies in business and training situations.
Dr. Fu’s technical background and management experience will help our company achieve its product strategy and business development plans.
Board of Directors
Dr. Allan Rabinoff
Chairman
Dr. Rabinoff’s 25 years of business experience in China and the Far East have provided him with extensive knowledge in doing business in China including important international commercial/personal relationships. Throughout his business career, Dr. Allan Rabinoff has focused on maximizing opportunities in a rapidly changing business environment. Dr. Rabinoff has international experience in the areas of project identification, contract negotiation, cross-cultural team building, marketing, sales, Merger & Acquisition strategy, and business development. He has a Ph.D. from the University of Maryland and received his Masters and undergraduate degree from the University of Wisconsin.
Dr. Rabinoff has been involved in the area of telecommunications for the past fifteen years. He is a principle in Intelligent Network Communications, LLC and IP2IP, LLC. Both companies operate in the international telephone transport arena.
Steven T. Berman
President & CEO
Member of the Board
Mr. Berman is a senior telecommunications executive with over 20 years of business and legal experience. In addition, he has served as corporate general counsel, operations manager, a regulatory and compliance strategist and as a contract negotiator. His background includes managing staff and operations in telecom companies plus financial and manufacturing operations.
His extensive telecommunications background comes from serving ten years at the National Rural Telecommunications Cooperative (NRTC) where in 1994 he helped launch DIRECTV, the nation’s first high powered Satellite Dish Service and WildBlue Broadband Satellite, one of the nation’s first two-way satellite-delivered broadband internet services. Mr. Berman served as Senior Vice President, Business Affairs and General Counsel at the NRTC and was also Corporate Secretary-Treasurer. He was the NRTC’s principal liaison with strategic partners, financiers and its largest customers. Mr. Berman managed business relations and legal components of manufacturing, transport, storage, insurance and delivery of various telecommunication products and services – including Direct Broadcast Satellite, broadband, high-speed Internet access and wireless operations, warranty programs, and call center support.
Prior to joining China Wi-Max Communications he served as President and CEO of First Capital Surety and Trust Company (formerly Morgan Chase Trust Company) where he used his business, management, financial and legal skills to successfully turn around the $200+ million regulated bank and trust company. The company was re-established as a leader in its field.
Mr. Berman is an attorney admitted to the Wisconsin, Pennsylvania and District of Columbia bars. He is also a member of the American Bar Association. He received his Juris Doctorate from the University of Wisconsin Law School, Madison, Wisconsin in 1987. Prior to his corporate career he was a practicing attorney based in Washington, D.C., involved with complex civil litigation.
Buck Krieger
Member of the Board/Co-Founder
Buck Krieger has an extensive financial background, which began at Clayton Brokerage Company, which later became the largest Brokerage house in the country dealing exclusively in Commodities. During his time at Clayton Brokerage he was an E.V.P. and National Sales Manager for 10 years.
Mr. Krieger retired from Clayton after 25 years, and began a Theatrical Stage Lighting company contracted with five major Rock n Roll bands, six Country groups and a number of National Company Industry trade shows. His career includes invaluable experience in that industry as he developed other businesses in pre-paid services, insurance, telecommunications, financial services, and venture capital.
Mr. Krieger has a B.S. in Economics degree from Washington University in St. Louis, MO.
Sharon Xiong, Ph.D.
Member of the Board
Sharon Xiong currently leads and manages system verification of High Density SIP Trunk Gateway at Avaya Communication Inc. Prior to working for Avaya; Sharon worked at Lucent Technologies on 10G optical router (Bandwidth Manager) development and Rhythm Netconnections, Inc., for DSL management software development. She has more than ten years of experience in telecommunication software product development and software testing. She was involved in the development of products including user interface, web services, application interface, call processing, data management applications, reporting application, network optical switch, etc.
Sharon is one of the founders and a former board member of the Chinese American Association (CAA) of Rocky Mountain Region. In addition to CAA, she participated in the founding of the Great Wall Chinese Academy (GWCA) and serves as a board member and current principal. She manages a GWAC Sunday school operation of about 200 students, 10 administrators and 24 teachers.
Sharon is the President of XBC Consulting Firm which offers business consulting services to people who intend to expand their business in China’s emerging market. She understands Chinese culture, has a broad Chinese network, many years hands-on experience in US corporate business operation, and corporate management skills.
She received her education in Computer Science from the University of Colorado, Denver and holds an EMBA from the University of Colorado, Denver, a Ph.D. from the Medical School at the University of South Dakota, and an M.S and B.S. from Peking University, China.
Business Advisors
Eric Hager
Business Advisor
Mr. Hager is an Internet entrepreneur and senior telecom executive with over 25 years of proven experience in start-ups and large organizations. He possesses a rare combination of technical acumen, strategic vision, and financial skills. He has serial successes in technology driven ventures and strategic M & A transactions.
Formerly, Mr. Hager was an owner and operator of Expedient Holdings USA, where he architected Expedient’s fixed wireless, fiber, and copper based Ethernet transport services. Expedient won Supercomm’s 2005 Worldwide SuperQuest Award for Network Design and Services and Lightreading’s Leading Lights Award for Best Marketing campaign for Expedient’s “Ethernet Anywhere” service.
Prior, for Livingston Enterprises and Lucent Technologies, he led product strategy for: IP Service Switches, Media Gateways, and Metro Ethernet. For IP Services, he directed technical and financial due diligence for $1.5B of Lucent acquisitions. He led worldwide Service Provider Technical Marketing resulting in over $100M in contract awards throughout US, EMEA, and Asian markets. He developed the strategic relationship with Lucent Technologies subsequently leading to Lucent’s $600M acquisition of Livingston Enterprises. He was also awarded US and European Patents for Internet Call architectures in public networks.
Mr. Hager’s extensive international experience began as a student attending the Universidad de los Americas in Mexico and obtaining a bachelors degree in Philosophy from MERU in Seelisberg, Switzerland.
Daniel Welytok
General Counsel
Mr. Welytok is a partner in the Wisconsin-based law firm of von Briesen & Roper, S.C., and acts as outside general counsel to the Company in the United States concerning general business matters. Mr. Welytok’s industry experience is concentrated in technology services, where he has helped management achieve practical results in capital structuring, financing, licensing and intellectual property protection, regulatory issues, acquisitions and divestments, Sarbanes Oxley compliance, employment and benefits matters, officer and director issues, and dispute resolution. He has represented a number of organizations before the Internal Revenue Service, the Department of Labor and other Federal and state regulatory authorities on audits, controversies and compliance issues. Mr. Welytok assisted with the satellite broadcasting industry’s lobbying efforts pertaining to sales and use tax in connection with the direct-to-home satellite service provisions of the Telecommunications Act of 1996, and developed the organizational, contractual, and distribution structure for a nationwide wireless communications network. Mr. Welytok received his Law Degree from the University of Wisconsin Law School and his Masters of Law in taxation from DePaul Law School. He is “AV” rated by Martindale Hubbell, the highest possible peer-to-peer rating among lawyers.
James Edward Robinette
Business Advisor
Mr. Robinette has over 30 years of experience in sales management, marketing, strategic planning, supply chain management, project management and international business development in the wireless communications industry. He was a founding member of the Panasonic Wireless business. Mr. Robinette has successfully developed sales channels with Tier 2 and Tier 3 cellular carriers and directed many strategy projects for Panasonic Communications and Motorola. He has strong relationships with all levels of management in both GSM & CDMA cellular providers. Mr. Robinette has P&L experience and was responsible for a $100 million dollar annual budget. Mr. Robinette has also developed and implemented sales and training programs for AT&T. He has developed and implemented innovative sales and growth strategies for cellular carrier retail stores, kiosks, and indirect channel agents. This included the coordination of a team of 40 geographically dispersed individuals working to integrate retail sales strategies into Tier 1 carriers, smaller carriers, retailers and distributors.
China Wi-Max Communications Inc. USA Headquarters
Steven T. Berman, President and Chief Executive Officer
Denver Tower
1905 Sherman Street, Suite 335
Denver, Colorado 80203
Office Phone 303-993-8028
Toll Free 1-800-830-1978
Fax 303-993-8172
Contact Investor Relations:
Jim Prange
Director of Investor Relations
(920) 912-7444
Phil Allen
(303) 993-8028
CHINA Headquarters
Hanwei Plaza – Rm 1709
No. 7 Guanghua Rd
Chaoyang District, Beijing 100020
(8610) 65-61-5395
Early this week, the company announced that it has signed a definitive agreement to acquire a 90% interest in the Barlevskoye and Vynohradiv Gold licenses in Southwestern Ukraine from arm's length third parties. According to the company, the licenses are adjacent to the Berehiskyi license-deposit, which recently underwent underground mining for gold from 1999 to 2006 by Zakarpolymetally (a local subsidiary of the local government). The Berehiskyi License hosts a historic, near-surface polymetallic deposit, which is reported to contain approximately 18,709,300 t of 1.88 g/t Au; 38.35 g/t Ag; 2.07% Pb and 4.76% Zn.
Supatcha Resources mission is to become a leading primary gold producer by acquiring, developing and profitably mining precious metals in Ukraine. We are committed to conducting ourselves with fairness and integrity, and managing all business activities in an environmentally responsible and cost-effective manner, while contributing to the well-being of the communities in which we work.
The daiily chart shows the stock with a recent strong run up form 160 to 260. The move included a breakout from a cup-and-handle base at 240.
above the rising trendline, which intersects around $18. It is also riding the upper Bollinger band higher. 