Business Develop Sol (BDEV) research, news, and more from GeoInvesting

Company description

Sat, 04 Apr 2009 04:00:00 GMT

BDEV went public via a reverse merger transaction on March 30, 2009.

We are a provider of B2B e-commerce travel services and technology in China, specializing in developing products and services, marketing strategies and business solutions for small and medium sized, or SME, travel agents. We pioneered the development of an online B2B marketplace that: offers travel agencies an efficient, low cost, and trusted platform for disseminating information on travel services and products; provides travel agencies with access to consolidated and organized air ticket inventory and price information; and connects travel agents nationwide directly to conduct and grow their business. We conduct our business primarily through our websites located at www.zuwin.cn and www.eztripmart.com.

Our online marketplace removes geographical barriers for travel agents in a rapidly developing, yet highly fragmented market. Travel agencies in different regions across China come to our marketplace to establish their presence on the Internet and conduct business online. Our travel agency users can maximize their efficiency and profitability by browsing through real-time listings of available air ticket inventory across China to obtain favorable prices for their customers that would not be otherwise available. For many SME travel agencies wishing to market products and services through online channels, their listings on our marketplace serve as their only presence on the Internet.

Liquidity Requirements

Mon, 02 May 2011 04:00:00 GMT

We believe that our cash on hand and cash flow from operations will meet part of our present cash needs and we will require additional cash resources, including loans, to meet our expected capital expenditure and working capital for the next 12 months.

Comments & Business Outlook

Sun, 21 Nov 2010 05:00:00 GMT

Highlights for the third quarter of 2010.

Net Revenue: Our net revenue was $3,073,712 and $7,857,453 for the three and nine months ended September 30, 2010, respectively, an increase from $801,925 and $951,675 for the same periods in 2009, respectively.

Net Income/Loss: Net income was $1,092,886 and $2,687,913 for the three and nine months ended September 30, 2010, respectively, as compared to net loss of $88,899 and $746,980 for the same periods in 2009, respectively.

Basic and diluted net income/loss per share: Basic and diluted net income per share was $0.07 and $0.17 for three and nine months ended September 30, 2010, respectively, as compared to basic and diluted net loss per share of $0.01 and $0.05 for the same periods in 2009, respectively.

Liquidity Requirements

Sun, 21 Nov 2010 05:00:00 GMT

Research

Sun, 11 Apr 2010 04:00:00 GMT

We will begin tracking the BDEV story. While it is likely too early to be overly enthused, the recent revenue performance of the fourth quarter has piqued are curiosity. For the full 2009 year BDEV reported revenues of $1.9 million, but $950 thousand of that came in the fourth quarter vs. $801 thousand in the third quarter . Unfortunately, losses also accelerated in the fourth quarter hampered by increased operating expenses.

We will offer an update if warranted.

Comments & Business Outlook

Tue, 08 Dec 2009 05:00:00 GMT

"We expect that our financial results will continue to be affected by the overall growth rate of the economy and demand for travel services in China and the rest of the world. According to a 2007 report published by the National Bureau of Statistics of China, the gross domestic product, or GDP, of China grew from RMB11.7 trillion (approximately US$1.4 trillion) in 2003 to RMB30 trillion (approximately US$4.4 trillion) in 2008, representing a compound annual growth rate of approximately 10%. This growth led to a significant increase in the demand for travel services, and according to the China Tourism Statistical Bulletin 2008 published by China National Tourism Administration, or CNTA, domestic tourism spending grew from RMB344.2 billion (US$41.6 billion) in 2003 to RMB874.9 billion (US$105.7 billion) in 2008, representing a compound annual growth of 20.5%."

"However, while we expect the overall demand for travel services in China to continue to increase in the foreseeable future as the economy in China continues to grow, the recent global financial crisis and economic slow-down could have a material and adverse effect on the travel industry in China, which in turn would cause a negative effect on our business. The recent global credit crunch is impacting travel spending in China. According to the China Tourism Statistical Bulletin 2008 published by CNTA, the number of inbound tourists in China and inbound tourism spending decreased by approximately 1.4% and 2.6%, respectively, in 2008 as compared to 2007, while domestic and outbound tourism remained reasonably strong due to the strength of the Chinese economy and its currency. The domestic and global economic uncertainties have led companies to increasingly rely on professional business travel management solutions to reduce travel spending, and consumers increasingly rely on the efficiency and transparency of the internet to find value when booking travel services and products and demand a higher quality of services. We expect that in the current economic environment, our operating results will increasingly depend on how well we capitalize on the efficiency of our online platforms and the quality of our services."

Source: SEC Form 10Q (For the quarterly period ended: September 30, 2009)

Reverse Merger Activity

Sat, 04 Apr 2009 04:00:00 GMT

BDEV completes reverse merger transaction a Chinese B2B e-commerce travel services and technology company.

The company's revenue grew by 945% in the year ended December 31, 2008 to $793,481, from $75,922 in the year ended December 31, 2007. Our net income decreased by 714% in the year ended December 31, 2008, to a net loss of $117,543, from a net income of $19,149 in the year ended December 31, 2007, due to a significant increase in our general and administrative expenses in connection with the significant ramping up of our operations in 2008. Our gross margin was 23% for the year ended December 31, 2008.

Source: SEC Form 8K (March 30, 2009)