Attached files
| file | filename |
|---|---|
| EX-99.1 - CHINA EDUCATION ALLIANCE INC. | v204467_ex99-1.htm |
| EX-99.2 - CHINA EDUCATION ALLIANCE INC. | v204467_ex99-2.htm |
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): December 2, 2010
CHINA
EDUCATION ALLIANCE, INC.
(Exact
name of registrant as specified in its charter)
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North
Carolina
(State
or other jurisdiction of
incorporation)
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000-52092
(Commission
File
Number)
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56-2012361
(IRS
Employer
Identification
No.)
|
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58 Heng Shan Road, Kun
Lun Shopping Mall
Harbin, People’s
Republic of China
(Address
of principal executive offices)
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150090
(Zip
Code)
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Registrant’s
telephone number, including area code: 86-451-8233-5794
Benjamin
Tan, Esq.
Sichenzia
Ross Friedman Ference LLP
61
Broadway, 32 Floor
New York,
New York 10006
Phone:
(212) 930-9700
Fax:
(212) 930-9725
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
¨ Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item 8.01.
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Other
Events
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China
Education Alliance, Inc. (the “Company”) issued a press release and announced
today that on November 5, 2010, as an added supplement to the Company’s third
quarter financial review, the Company’s auditor, Sherb & Co., LLP (“Sherb”)
also performed confirmation procedures on most of the Company’s bank balances in
the People’s Republic of China (“PRC”). These procedures were
performed by staff members from Sherb’s Beijing office.
Confirmations
of the cash balance as of September 30, 2010 were conducted at the following
financial institutions:
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•
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ICBC,
Harbin Kunlun Branch, in the amount of RMB 315,787,237.07, located in 36
Kangshun Street, Nangang District , Harbin, Heilongjiang Province,
China.
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•
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Agricultural
Bank of China, Huijin Branch, in the amount of RMB 37, 533,479.85, located
in 14 Hongzhuan Street, Daoli District, Harbin, Heilongjiang Province,
China.
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•
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Agricultural
Bank of China, Huijin Branch, in the amount of USD 7,052,922.91, located
in 14 Hongzhuan Street, Daoli District, Harbin, Heilongjiang Province,
China.
|
|
|
•
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Harbin
Bank, Keji Branch, in the amount of RMB 97,274.63, located in 323,
Tianshun Street, Nangang District, Harbin, Heilongjiang Province,
China.
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|
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•
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China
Everbright Bank, Harbin Hongqi Branch, in the amount of RMB
52,305,796.33, located in 257, Hongqi Street, Nangang District, Harbin,
Heilongjiang Province, China.
|
The
enhanced procedures were applied to approximately $67 million in deposits, or
86%, of the Company’s total cash balance of approximately $78 million. Such
procedures included visits to the PRC financial institutions, meeting bank
personnel and obtaining cash balance information as of September 30,
2010.
As of
September 30, 2010 the Company also maintained approximately $8.6 million in its
J. P. Morgan and EastWest Bank accounts in the U.S. and approximately $1.3
million at ICBC in Beijing, which Sherb also verified by reviewing the
relevant bank statements.
A copy of
the Company’s press release is annexed hereto as Exhibit 99.1 and a copy of the
bank confirmation documents are annexed hereto as Exhibit 99.2.
The
information in this report, including Exhibits 99.1 and 99.2, shall not be
deemed “filed” for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), or
incorporated subject to the liabilities of that section or Sections 11 and
12(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and
shall not be incorporated by reference in any registration statement or other
document filed under the Securities Act or the Exchange Act, whether made before
or after the date hereof, regardless of any general incorporation language in
such filings, except as shall be expressly set forth by specific reference in
such a filing.
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Item 9.01.
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Financial Statements and
Exhibits.
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(d)
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Exhibits
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99.1
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Press
Release, December 2, 2010, issued by China Education Alliance,
Inc.
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99.2
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Copy
of bank statements from China Everbright Bank, ICBC, the
Agricultural Bank of China and Harbin
Bank
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SIGNATURES
Pursuant
to the requirements of the Securities and Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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CHINA
EDUCATION ALLIANCE, INC.
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Dated:
December 2, 2010
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By:
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/s/
Zibing
Pan
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Name:
Zibing Pan
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Title:
Chief Financial
Officer
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