Telestone Technologies (NASDAQ:TSTC)

We believe the Chinese government's investment in the construction of the 3G system, which will cost approximately $60 billion over three years, presents an excellent opportunity for our business development. With our technology, close relationships with the telecom operators in China and experienced management team, we believe that we will continue to demonstrate increasingly impressive growth in the future.

Source: PR Newswire (August 13, 2009)

Telestone Collects Overdue Accounts Receivable.

 Telestone believes that due to its current collection management, accounts receivable turnover is improving steadily. As compared with the previous fiscal quarter, Telestone anticipates that accounts receivable turnover of the current quarter would improve by approximately 30 percent.

The CEO of Telestone states, 'We have been taking a variety of measures to collect accounts receivable. It is of great importance to our company to effectively utilize capital and, therefore, improve the earning capacity of the company's assets. Telestone anticipates that it will continue to speed up the turnover of accounts receivable to improve our performance in the second fiscal quarter and the 2009 fiscal year.'

Source: PR Newswire (June 24, 2009)