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ABOUT WELWIND
Welwind Energy International Corp. is committed to providing the best resource option available for renewable energy, protecting our environment, empowering communities, bolstering local economies and respecting the rights of future generations.
Welwind Energy International was founded to build, own and operate wind farms on an international scale. The company's goal is to become a leading provider of clean energy products for the residential, business and governmental consumer.
Recent News:
Sep 30, 2008 -- Welwind Energy International Corp. (OTCBB:WWEI) (the "Company") announces an additional interest in A La Shan Zuo Qi Windfarm Phase II development.
In management's recent trip to China, Welwind met with Ningxia Electric Power Corp., owners of A La Shan Zuo Qi Windfarm Ltd. Welwind's initial commitment was for 49% interest in Phase I of the windfarm which currently holds a completed PPA with Neimeng Provincial Development and Planning Commission. Upon further discussions and due diligence, Welwind immediately committed to an additional 49% interest in Phase II 49.5 MW with an anticipated PPA inside of 2 months.
For Phase I, a turbine supply agreement has been signed with Mitsubishi Power Systems for the MWT 1000 Turbine. The Mitsubishi's manufacturing facility is within 15 miles of the windfarm's location. The company anticipates beginning construction in January and taking delivery of the turbines at that time.
Welwind and Ningxia Electric Power Group are in further discussions to cooperate in the development of windfarm equipment manufacturing, production of silicon-based solar panels, and solar power plants.
Zhanjiang Project - Welwind has had meetings with the Mayor and government officials over the last week with its concerns over the delay in receiving its PPA for the Zhanjiang windfarm project. The Mayor has reassured the company that the PPA is forthcoming and that all issues have been sorted. The PPA shall be awarded within the next few weeks.
ABOUT NINGXIA ELECTRIC POWER GROUP
Ningxia Electric Power Group was established in June of 2003. The company is a large-scale group holding by Ningxia Hui Autonomous Region Government. The company's primary focus is the development and construction of thermal power generation, wind power, wind turbines, and an involvement in the coal chemical industry. By the end of 2006, Ningxia Electric Power Group assets totaled 6.2 billion Yuan (US$906 Million), and sales revenues were above 2 billion Yuan (US$300 Million). The company has approximately 4,500 employees.
ABOUT MITSUBISHI
Mitsubishi wind turbine innovations include:
-- Lightweight blades with full-span pitch control and optimum blade profile for superior power performance -- Advanced noise reduction technology (blade and gearbox)
Mitsubishi maintains an integrated design and production capability for key wind turbine components, including blades, gearbox and controls. Moreover, their IS9001-certified manufacturing facility ensures consistently high levels of quality and reliability for all Mitsubishi wind turbine components
About United (UAL Corp.)
United Airlines (NASDAQ: UAUA | Quote | Chart | News | PowerRating) operates more than 3,200* flights a day on United and United Express to more than 200 U.S. domestic and international destinations from its hubs in Los Angeles, San Francisco, Denver, Chicago and Washington, D.C. With key global air rights in the Asia-Pacific region, Europe and Latin America, United is one of the largest international carriers based in the United States. United also is a founding member of Star Alliance, which provides connections for our customers to 975 destinations in 162 countries worldwide. United's 55,000 employees reside in every U.S. state and in many countries around the world. News releases and other information about United can be found at the company's Web site at united.com.
News Today:
Oct 01, 2008 -- UAL Corporation (Nasdaq: UAUA), the holding company whose primary subsidiary is United Airlines, today announced financing transactions that will add approximately $275 million of cash prior to year end.
The company has completed a $125 million aircraft financing agreement, receiving approximately $60 million yesterday, and will receive the remaining approximately $65 million by mid October.
United has also executed agreements and agreements in principle (subject to reaching final documentation and other conditions) to sell certain assets for approximately $140 million. The company received approximately $30 million from these assets in the third quarter and expects to receive approximately $110 million in the fourth quarter. In addition, United intends to substitute certain cash collateral with a letter of credit, generating $10 million in net incremental cash in the fourth quarter.
"We are further strengthening our cash position, and we are pleased to close this transaction, particularly in this market environment," said Kathryn Mikells, who will become chief financial officer on November 1. "We still have over $3 billion of unencumbered assets to further enhance our liquidity."
About Smart Card
Smart Card is looking to revolutionize the prepaid and loyalty card market by presenting their proprietary solution offering, the GoSmartCard platform. This cutting edge technology provides an essential medium for merchants and retailers to create incentive programs for their new and existing customers, as well as to collect purchasing data such as brand loyalty, buying preferences, and personal account information. The GoSmartCard platform is a real-time Internet based application that simultaneously manages both the data for business-to-business and business-to-consumer levels.
News Today:
Oct 1, 2008 -- Smartcard Marketing Systems (PINKSHEETS:SMKG) announced today that their Card loading, Pin Debit and Payment processing volume increased in triple digits for the month of August 2008 over August 2007. The company posted a 266% gain in card loading and payment processing for August over last year, growing from $44,560 in August 2007 to $163,300 in August 2008.
(PINKSHEETS:SMKG) President Bruce Baillio said, "This continued dramatic growth marks the emergence of the company from its product development stage into full production and product delivery mode. As more of our backlog of orders is fulfilled, the company expects to see an even more dramatic increase in payment processing and fee revenues generated from merchant and consumer use.
Our business model is benefitting from the worldwide trend of consumers moving from credit cards to debit cards. A 2007 report from Callahan & Associates found that in 2006, debit card usage surpassed credit card usage for the first time, with consumers conducting over 26.5 billion debit transactions at the point-of-sale in 2006."
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