3SOF

Commenting on the alliance, Bastion Payment Systems CEO Wilfred Tan said, "We are happy to be working with MobiClear in launching an innovative, unique and secure identification system for online banking and e-commerce transactions. The market is poised for the additional powerful transaction security measure that MobiClear has developed. Further, we feel MobiClear's product offering will nicely complement Bastion's existing and future fraud management products and initiatives."

Anders Ericsson, CEO of MobiClear, noted, "It is such a great opportunity to be working with an established and highly reputable company like Bastion. We believe their network of banking relationships in the Philippines and Asia, as well as a successful portfolio of payment systems projects, provides MobiClear with an ideal platform for launching our products in that region."

About Bastion Payment Systems Corporation

Bastion Payment Systems Corporation provides cutting edge, state of the art software tools and services for fraud management, credit card acquiring and issuing systems, and performs other related services and support, including secure IDC (Internet Data Center) services.

MobiClear, Inc. (OTCBB: MBIR - Deutsche Borse: B3CA) and Bastion Payment Systems Corporation have entered into a partnership agreement to market and launch MobiClear's exciting line of security products in the Philippines and Asia, paying particular attention to the e-commerce sector.

Bastion and MobiClear have begun introducing the solutions to many of the market-leading financial institutions in the Philippines and other Asian countries. The banks have expressed great interest in the product's ease of implementation, cost effectiveness, and ability to be brought to market in a timely fashion.

MobiClear and Bastion Payment Systems both agree this partnership is a great step toward increasing the confidence of Asia-based clients engaging in online e-commerce transactions.

Forex Bank and MobiClear Offer Enhanced Security for Card Transactions
MobiClear, Inc. (OTCBB: MBIR - Deutsche Borse: B3CA) and FOREX Bank have completed a pilot test of a jointly designed system intended to enhance the security of FOREX Bank's card transactions. During the spring of 2007, participating FOREX Bank employees were able to verify their card transactions via their mobile phone. The participants used this new service for ATM withdrawals, online and in-person store purchases.

Based on the pilot program's initial success, the two companies are planning to offer select card customers the opportunity to try MobiClear's services.

This new solution, developed by MobiClear and FOREX Bank, provides the card user more control over their purchases. This increased level of security is attained by allowing card users to authorize credit card transactions through their mobile phones. Both MobiClear and FOREX Bank agree that this is a great step toward increasing the security and comfort level of card users for ATM withdraws and online and in-person store purchases.

MobiClear at Visa International Asia Pacific Risk Management Conference
Mobiclear has been invited to participate as exhibitor in the third Visa International Asia Pacific Risk Management Conference in Singapore, 2 to 4 July 2007.
2007-05-24


The objective of the conference is to review the latest fraud trends and cases, highlight regional initiatives and best practices, and to share new products and technology to further secure the payment system. We expect about 250 senior risk managers, law enforcement officers, merchants and processors to participate in this conference

Integration of Mobile Payments with the Net

MobiClear & IBM's WebSphere

Expect to see more announcements like this one as mobile banking payments options become more attractive to websites. Most offline payment options have similar platforms to those the websites are using (think WAP using http and different flavours of Java), so it's not an enormous step to choose payment options which bypass the traditional credit card operators.

The agreement covers marketing, technical and development support. IBM is one of the world-leading companies in the invention, development and manufacture of the industry's most advanced information technologies, including computer systems, software, storage systems and microelectronics.

MobiClear specializes in electronic Personal Identification Verification (PIV) solutions in connection with credit/debit card transactions. MobiClear's multi-gateway solution (U.S. patent pending) offers proactive security in all forms of electronic business environments including internet shopping, business-to-business procurement transactions and retail shopping with credit/debit cards.

Credit/debit card fraud on the Internet and in stores is increasing at an enormous rate.
MobiClear's answer to the problem is a security and user-friendly identity solution that works right across the globe. And in addition MobiClear's identification service ensures safe and secure trade over the Internet, which in its turn helps to create more user satisfaction in both e-trade and invoice payments online.

MobiClear offers solutions and services that, MobiClear believes, virtually eliminate credit/debit card and electronic transaction fraud, completely securing these transactions. A unique feature of MobiClear's solutions are that end-users and customers do not need to learn any new behaviors or master new techniques.

   Report: Chinese WiMAX Market Will Grow Seven-Fold Between 2009 And 2011
4/23/2007 Boston and Beijing -- Yankee Group announced at WiMAX World Asia that the Chinese WiMAX market will reach 8.39 million users in 2011, almost 7 times the 1.25 million users we forecast for 2009 (the first year of significant WiMAX development in China). Of the 8.39 million users in 2011, nomadic and portable broadband access users will lead the Chinese market, accounting for 46% of the market in 2011. Mobile broadband and low-cost fixed wireless access services will come in second and third, accounting for 43% and 11% of the market, respectively.
According to the joint research report by Yankee Group and its China-based partner, Analysys International, WiMAX in China: 2007 to 2011 Outlook and Forecast, released today, if the Ministry of Information Industry (MII) does not embrace WiMAX and create a mobile WiMAX policy soon, the Chinese market will miss the mobile WiMAX opportunity. If this were to happen, Yankee Group and Analysys International believe it will have significant implications for Chinese vendors such as Huawei and ZTE, which are among the front-runners in mobile WiMAX development in China. MII has yet to allocate mobile spectrum, which signals to the industry that MII has not committed to mobile WiMAX development in China. The key for MII to accelerate mobile WiMAX policy development is to demonstrate to local governments how Chinese companies can benefit from mobile WiMAX.

"Embracing connectivity solutions and standards such as mobile WiMAX in emerging markets like China is critical to competing in the continuously evolving global communications industry," said XJ Wang, vice president of Yankee Group Asia-Pacific Research. "Without China's participation, the global WiMAX ecosystem will not be complete."

Although the big four in China—China Netcom, China Unicom, China Mobile and China Telecom—are not rushing WiMAX deployment, Yankee Group and Analysys International find that the smaller players and other municipal WiMAX providers are pushing for an aggressive WiMAX strategy in China despite their financial challenges. Considering the important roles of these smaller players, we recommend that key members of the WiMAX Forum invest in WiMAX deployment in China

I am with you on CNCN.. News out today, THEY DID IT!

CinTel Corp. Closes on $63M in Funding From Woori Private Equity Fund
Receives Another $10.5 Million in Convertible Bonds From Two Affiliates of Bowkang Group
CinTel Corp. (CinTel) (OTCBB: CNCN) announced that it has entered into an agreement to issue an aggregate 10 billion in Korean Won or approximately $10.5 million in convertible bonds (CB), convertible to the common stock of the company at $0.70 per share and successfully closed this funding simultaneously with the $63 million in CB funding from Woori Private Equity Fund signed on March 15, 2007. Thus, with $73.5 million CinTel will continue its trend towards strategic acquisitions in more diverse businesses focusing on the semiconductor industry and emerging technologies.

The investors in the $10.5 million CB are the Korea Culture Promotion Inc. and Phoenix M&M Corporation, which are affiliates of Bokwang group. As a result of this series of investments, CinTel is positioned to make key, strategic, accretive acquisitions in the semiconductor and other promising technologies that will create synergies with existing operations, thereby enhancing shareholder value.

Sang Don Kim, the CEO of CinTel Corp., said, "We are transforming CinTel Corp. into a key semiconductor player with some very important acquisitions, making CinTel a more vibrant, profitable, and growing company. I am quite excited with the successful closing of the additional investment from the affiliates of Bokwang group and Woori Private Equity Fund. The current shareholders should be delighted that these investments are being made at a tremendous premium to CinTel stock's current market price, because these institutional investors share CinTel management's unshakable belief that CinTel's business and operation are quite promising and poised for explosive growth."

Woori and possibly Bokwang investments......

I don't think many investors realize how undervalued CNCN is right now as a result of these nicely accretive financings from some significant names in Korea's financial industry.

Unless I am completely misreading/misinterpreting the filing, it appears to me that the $63 million financing from Woori is just one part of this round of financing (which is scheduled to be officially signed at Woori's offices on April 12). Again, I could be wrong on this but it looks like affiliates of the Bokwang conglomerate will be investing more than $10 million in CNCN before or on the closing date, bringing the total amount of money raised in this round to more than $73 million......

Affiliates of Bokwang Group, such as Phoenix Development & Investment Co., Ltd., Phoenix Digital Tech Co., Ltd., etc. shall have subscribed to the convertible bonds issued by the Company in the amount of at least KRW 10 billion under the terms and conditions that are not more favorable for the foregoing parties than those for the Subscriber, on or prior to the Closing Date.

http://knobias.10kwizard.com/filing.php?repo=tenk&ipage=4756670&doc=2&num=3&total=34&back=1

Assuming my above take on this latest financing is correct, here are some quick calculations. On a fully-diluted basis I believe prior to this financing there were about 130 million shares outstanding (it is probably less than that, but I'll just use this number). Following this round of financing the fully-diluted share count is probably in the neighborhood of 235 million shares outstanding.

This financing alone will result in CNCN having more than $73 million in cash (more than 31 cents per share) sitting on its balance sheet prior to any acquisition it makes. Today's closing price gives CNCN a fully-diluted market cap of less than $78 million. The market is giving CNCN a valuation of basically $5 million. I am invested in shells that have higher valuations than that.

At some point light bulbs are going to go off in the minds of some investors.

 
Do your own DD to see. LG and CNCN, Hitachi and CNCN, Lenovo and CNCN,
WIMAX through Digi friends.
Get on the train.
I am long

   [/color]CinTel Obtains Exclusive Sales and Marketing Rights to Launch the Mobile WiMAX Technologies of Digifriends Co., Ltd. in the US and Europe
New Partner Considered Primary World Leader in Space
CinTel Corp (CinTel) (OTCBB: CNCN) announced that it has signed an exclusive strategic alliance agreement with Digifriends Co., Ltd. (Digifriends, http://www.digifriends.net) to bring their 4th Generation WiMAX technologies to the US and European markets. Mobile WiMAX (World Interoperability for Microwave Access) expectations are the enabling of true broadband speeds over wireless networks at a cost point to enable mass market adoption. The agreement includes the exclusive right to sell and market Digifriends' WiMAX hardware and software technologies for the next three years. In addition, it includes co-development, co-marketing, and cooperation for sales in other overseas markets as well. Thus, CinTel gained the exclusive right to provide radiofrequency (RF) modules and terminals created by Digifriends to North American and European wireless providers.

Digifriends is one of 3 companies worldwide that can currently develop Satellite Digital Multimedia Broadcasting products with their wholly owned technology (multimedia codec: H.262/+AAC, CAS, 2.6GHz RF) and licensing. Satellite Digital Multimedia Broadcasting (S-DMB) is a digital radio transmission system for sending multimedia (radio, TV, and datacasting) to mobile devices such as mobile phones.

CinTel's Chinese Subsidiary, Phoenix Semiconductor and Telecommunication (Suzhou) Co., Ltd (PSTS), Signs Contract with Samsung Electronic LCD (Suzhou) Co. to Provide LCD TV Source
CinTel Corp. (CinTel) (OTCBB: CNCN), Korea's top Internet traffic management (ITM) solution provider, is pleased to announce that its subsidiary Phoenix Semiconductor and Telecommunication (Suzhou) Co., Ltd ("PSTS") entered into a contract with Samsung Electronics LCD (Suzhou) (SELS) in November 2006 to provide LCD TV sources. Prior to this contract, PSTS supplied the LCD TV source indirectly through a 3rd party and will now be a direct vendor to Samsung. PSTS expects to see stable orders and growing sales through this new contract. Minimum order requirements under this contract are 1.2 million units annually and mass production has begun as of November 2006. PSTS expects this will contribute to significant sales starting from the first quarter of 2007, and anticipates the contract to result in at least an additional $8M in annual sales.

Products provided under this contract are sources Printed Board Assemblies (PBA) for 17 and 19 inch LCD monitors which are the most widely produced models of Samsung LCD Monitors, and are the main products of SELS. SELS is working to reach production targets in December '06, while sales increased by more than 20% as compared to October, when the product line was still at Samsung Electronics Corporation in Cheon An. PSTS expects to produce more than 2,000,000 products per year in 2007 by increasing the current production capacity, and adding new production models.

 Could see a tremendous move up if the big boys and M/M go diving in after the bell rings. I am sure we will see it close up tomorrow. JMHO