China Education Alli (PINK:CEAI)

• Revenue for the quarter ended September 30, 2015 decreased by $0.9 million, or 74%, to $0.2 million from $1.1 million for the quarter ended September 30, 2014.
• Net loss was $6.5 million, or negative return of $0.62 per share basic and diluted, for the third quarter of 2015, as compared to net loss of $14.4 million or negative return of $1.36 per share basic and diluted, for the same period in 2014.

VANCOUVER, British Columbia and MENLO PARK, Calif., Aug. 17, 2015 /PRNewswire/ -- DelMar Pharmaceuticals, Inc. (DMPI) ("DelMar" and the "Company"), a biopharmaceutical company focused on developing and commercializing proven cancer therapies in new orphan drug indications, today announced an increase in funding of up to CDN$287,000 from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) to support an ongoing research project. With the increase, NRC-IRAP's total non-refundable financial contributions to DelMar total CDN$420,000 to date.

"We are very pleased with the continued support to accelerate and expand our non-clinical research to further establish the competitive differentiation of our lead product candidate VAL-083," said Jeffrey Bacha, president & CEO of DelMar Pharmaceuticals. "We have made tremendous progress this year executing on our clinical development strategy with VAL-083.  These additional funds, along with support from the technological expertise and advisory services provided by NRC-IRAP, will be invaluable as we continue to advance VAL-083 in refractory glioblastoma multiforme (GBM) and expand its utility in other tumor types."

This most recent funding builds upon previous non-repayable contributions from NRC-IRAP totaling CDN$133,000 that supported research conducted in collaboration with University of British Columbia, the Vancouver Prostate Centre and the B.C. Cancer Agency. The increase in funding reflects the success of this research program to date. The results of the collaborative project, funded in part by the NRC-IRAP, support differentiation of the anti-cancer mechanism of VAL-083 and its potential as a treatment for other tumor types beyond its current Phase II GBM clinical trial into non-small cell lung cancer (NSCLC) and other solid tumors.

DelMar's drug development program leverages numerous preclinical and clinical Phase I/Phase II historical research studies in which VAL-083 demonstrated activity, safety and efficacy in treating a wide range of tumor types including lung, brain, cervical and ovarian cancers. The Company intends to expand its clinical development program for VAL-083 into NSCLC and other solid tumors to target specific unmet medical needs in major cancer indications.

DelMar recently presented interim data of its ongoing Phase I/II clinical trial in patients with recurrent GBM at the American Association of Clinical Oncology (ASCO) Annual meeting. The Company confirmed the completion of the Phase I dose-escalation portion of the trial and presented data supporting a dose response trend:  Patients receiving a dose greater than or equal to 30mg/m² had a median survival of 9.0 months vs. 4.4 months at doses less than 10mg/m². DelMar also confirmed the initiation of a 14-patient Phase II expansion cohort at a dose of 40mg/m². The purpose of the Phase II expansion cohort is to gain additional information about the safety and efficacy of VAL-083 at the 40mg/m²dose prior to advancement into registration-directed Phase II/III clinical trials.

• Total revenues decreased by 53% to $0.4 million.
• Loss per share was $0.9 per fully diluted share

The decline in revenue in Fiscal 2014 was a result of decline in revenue across all of our business. We believe the main reason was our continuously weakening brand recognition in the main targeted market and increased competition from new competitors who entered into this market during the year 2014.  In addition, in the middle of 2014, the local government in Harbin announced policies prohibiting teachers of public schools from engaging in any tutoring/training classes outside of public schools. Tianlang, with all of its teachers being public school teachers, had to cut its class offerings dramatically, which directly affected our revenue for the training center division.

However, we believe the rise of the online education industry in China presents a good opportunity for us to improve and develop our online education business. We have been focusing on the development and promotion of our online education business and successfully launched the China Education Cloud Platform (the "Platform") in 2014.

During the initial operation period of the Platform, we offer free access to the platform to teachers and students with an aim to quickly develop the user base, establish an interactive teaching and learning platform with an aim to achieve a leading position within the industry. After this initial promotion period, we will share with teachers and educational institutions the platform usage, maintenance and service fees paid by students. Our plan is to contract up to one thousand educational institutions and reputable teachers in China by the end of 2015. As of the date of this report, we have entered into agreements with over 100 schools and educational institutions that will use our Platform and services to offer live or on demand online courses. We hope that the Platform will start to generate revenue upon expiration of the one year free trial period. However, there can be no assurance that we will be able to sign up educational institutions and teachers as planned and if we fail, our revenue will be adversely affected.

• Revenue decreased by $1.2 million, or 38% to $1.9 million for the quarter ended June 30, 2013 from $3.1 million during the same period in 2012.
• Gross loss for the second quarter of 2013 was $68,643 compared to gross profit of $0.7 million for the second quarter 2012.
• Net loss for the second quarter of 2013 was $3.7 million compared to net loss of $4.0 million for the second quarter of 2012. Basic and diluted loss per share was $0.35 for the second quarter of 2013 compared to loss per share of $0.38 for the second quarter of 2012. The basic weighted average shares outstanding and diluted weighted average shares outstanding were 10,582,530 for both the quarters ended June 30, 2013, and June 30, 2012.

"We continue to devote most of our resources and attention towards the new web-based education platform that we have been building and that we believe will become the driver of our future growth. I am confident that we have truly created something new and innovative that will allow all the constituencies involved in the education process to interact dynamically to promote a more effective, easier and affordable learning environment. As we have expanded our marketing efforts and the number and nature of interested parties, we have recognized the need to add functionalities and scale to maximize the benefits all parties will be able to derive from the use of this platform. While this has caused some delays in completing the technological development phase, work is progressing well and to the satisfaction of all parties involved. We now have a clear understanding of the final specifications of the project and are extremely eager to bring it to market as soon as possible in order to capture the growing needs for continuous education in the rapidly evolving society and the surging popularity and adoption of e-commerce platforms in China," said Mr. Xiqun Yu, Chairman and Chief Executive Officer of China Education Alliance.

First Quarter 2013 Financial Results

• Total revenues decreased by 49.2% to $2.4 million.
• Gross profit decreased 83.1% to $0.4 million
• Net loss for the first quarter of 2013 was $3.7 million compared to net loss of $0.1 million for the first quarter of 2012. Basic and diluted loss per share was $0.35 for the first quarter of 2013 compared to loss per share of $0.01 for the first quarter of 2012. The basic weighted average shares outstanding and diluted weighted average shares outstanding were 10,582,530 for the quarter ended March 31, 2013, and 10,582,503 in the same period of 2012.

"We are fully focused on finalizing our new information platform that will bring together teachers and students in a web-based environment and allow them to communicate in a more convenient and efficient way. Having been under development for quite some time, we are confident that this new platform will give us a definite competitive advantage. We have continued to test its functionality to our satisfaction and that of our content partners, as we added a wide array of new educational material. With the surge in growth and adoption of e-commerce platforms in China, we are eager to bring it to market this summer," said Mr. Xiqun Yu , Chairman and Chief Executive Officer of China Education Alliance.

HARBIN, China, May 1, 2013 /PRNewswire/ -- China Education Alliance, Inc. ("China Education Alliance" or the "Company", OTCQX: CEAI), a China-based education resource and services company, is pleased to announce that the consolidated securities class action lawsuit captioned In re China Education Alliance, Inc. Securities Litigation, filed against China Education Alliance in the United States District Court for the Central District ofCalifornia ("The Court"), has been settled and dismissed.

The Court had previously granted final approval of the settlement in a related shareholder derivative lawsuit filed against certain of the Company's past and present directors and officers, captioned Padnos v. Yu, et al., and that settlement has also become final and effective.

On August 28, 2012, China Education Alliance, Inc. (the “Company”) announced that, by order entered August 14, 2012, the United States District Court for the Central District of California, Western Division (the “Court”), has granted preliminary approval to a proposed settlement of the previously disclosed shareholder derivative lawsuit, Padnos v. Yu, et al., No. 11-cv-08973 (CAS) (JCx) (C.D. Cal.). The Court has scheduled a hearing in Courtroom 5, on the second floor of the courthouse for the United States District Court for the Central District of California, located at 312 North Spring Street, Los Angeles, California 90012, on October 15, 2012 at 10:00 a.m. to determine whether to grant final approval to the proposed settlement.

Under the terms of the proposed settlement, among other things, the Company has agreed to implement various corporate governance measures in exchange for a release of claims against all defendants. The settlement is conditioned upon the Court granting final approval and entering a judgment dismissing the lawsuit with prejudice.

Financial Highlights for the Second Quarter ended June 30, 2012

• Total revenues decreased by 68.4% to $3.1 million.
• Gross profit decreased 90.4% to $0.7 million.
• Net loss of $4.0 million.
• Loss per share was $0.38 per fully diluted share vs earnings of $0.21 in prior year.

"Faced with the economic slowdown and an increasing number of new competitors, we are actively taking measures to cope with these challenges while we continue to restructure our businesses. While our bottom line performance continues to suffer in the short term, we have great confidence that we will be able to improve our performance going forward. While pushing our restructuring efforts forward, we are also controlling cost with a high level of discipline. The investments that we must make today will generate income in the future, especially for those on-site training centers that are expected to make profits in the following 12 to 18 months. We set up 8 training centers in the past 6 months and they are still mostly in their early stages. We are planning to set up another 10 centers by the end of this year. We have continued to integrate our existing on-site training business, and believe it will improve our business and allow it to develop better in the future," said Mr. Xiqun Yu, Chairman and Chief Executive Officer of China Education Alliance.

"Meanwhile, we are optimizing our online training business. With the founding of Harbin Information and Technology Ltd in June, we are building an information platform for teachers and students to communicate in a more convenient and efficient way. We believe the establishment of this information platform will enhance the efficiency of the existing online training business and convince potential students and teachers of the high quality of our services."

Financial Highlights for the First Quarter ended March 31, 2012

• Total revenues decreased by 31.3% to $4.8 million.
• Gross profit decreased 52.4% to $2.2 million.
• Net loss of $0.1 million.
• EPS was $0.01 per fully diluted share.

"As expected, the first quarter was weaker on account of seasonality and the prolonged effects of the unsubstantiated allegations that surfaced towards the end of 2010," said Mr. Xiqun Yu, Chairman and Chief Executive Officer of China Education Alliance. "We continue to focus on growing our training center business where we see stronger demand and expect the trend to accelerate. Currently we have opened eight new training centers in Beijing and expect to open another eight in Beijing and another ten in other cities in the near future."

Fourth Quarter 2011 Results

• Total revenues decreased by 31.8% to $8.5 million.
• Gross profit decreased 44.3% to $5.7 million.
• Operating income decreased 97.1%.
• Net income decreased 58.8% to $0.8 million.
• EPS was $0.08 per fully diluted share vs $0.18 in prior year quarter.

"2011 was a tough year for us as a direct result of the unsubstantiated allegations that surfaced towards the end of 2010 and were subsequently circulated on the internet significantly impacting our business," said Mr. Xiqun Yu, Chairman and Chief Executive Officer of China Education Alliance. "In response to this challenging situation, we pursued a two pronged approach. We engaged a renowned law firm to respond to the lawsuits and groundless accusations, conducted an extensive marketing campaign during the first quarter of 2011 and acquired three schools during the second quarter. We also set up direct training centers in Beijing and hired renowned teachers in China while perfecting our business and educational models to push forward with our plan to build and expand into other provinces. We are hopeful that with time, we will demonstrate the falsehood of such allegations and that our business will improve. Going forward, we will continue to focus on our main business lines: examination preparation, vocational training and language training. We believe that focusing on these tests and skill sets will attract more students yearning to enhance their skills to increase their competitiveness in a challenging job market."