Freecast Inc (CAST)

ChinaCast Education Corp was incorporated under the laws of Bermuda on November 20, 2003 as an exempted company with limited liability, and as the holding company for a public flotation in Singapore of the Company's business. The Company was formed as Great Wall Acquisition Corporation on August 20, 2003 as a blank check company. On December 22, 2007, it completed the acquisition of 51.22% of the outstanding shares of ChinaCast Communication Holdings Limited (CCH), a company listed on the Stock Exchange of Singapore (SGX) and subsequently changed its name to ChinaCast Education Corporation. During 2007, the Company acquired 100% of CCH and terminated its SGX listing. ChinaCast Education Corporation is a provider of post-secondary education and e-Learning service in China. The Company provides post-secondary degree and diploma programs through its two universities in China: The Foreign Trade and Business College of Chongqing Normal University and the Lijiang College of Guangxi Normal University. These universities offer fully accredited, career-oriented bachelor's degree and diploma programs in business, economics, law, IT/computer engineering, hospitality and tourism management, advertising, language studies, art and music. The Company provides its e-Learning services to post-secondary institutions, K-12 schools, government agencies and corporate enterprises via its nationwide satellite/fiber broadband network. These services include interactive distance learning applications, multimedia education content delivery, English language training and vocational training courses. The Company offers products and services to customers under four business lines: Post Secondary Education Distance Learning Services - enables universities and other higher learning institutions to provide nationwide real-time distance learning services. Its packages include all the hardware, software and broadband satellite network services necessary to allow university students located at remote classrooms around the country to interactively participate in live lectures broadcast from a main campus. The Company currently services approximately 15 universities with over 143,000 students in over 300 remote classrooms. K-12 Educational Services - currently broadcast multimedia educational content to 6,500 main, middle and high schools throughout the PRC in partnership with educational content companies and renowned educational institutions. Vocational/Career Training Services - in partnership with government departments and corporate enterprises, the Company has deployed several hundred training centers throughout China providing job-skills training to recent graduates, employees of state-owned enterprises and corporate employees. University — FTBC and LJC are independent, for-profit, private residential universities affiliated with Chongqing Normal University and Guangxi Normal University respectively. With a total of 30,000 on campus students, FTBC and LJC offer four-year bachelor's degree and three-year diploma programs in finance, economics, trade, tourism, advertising, IT, music, foreign languages, tourism, hospitality, computer engineering, law and art, all of which are fully accredited by the Ministry of Education. The company strives to maximize customer loyalty and increase margins by offering additional services not offered by traditional service providers. The Company competes with state-owned and private enterprises that provide IT/Telecom services as well as educational services. These include large, well-funded state owned telecom companies such as China Telecom, China Netcom, China Unicom, China Railcom, China Satcom, China Orient, Guangdong Satellite Telecom and China Educational TV, as well as private educational service companies such as ChinaEdu, Beida Online, Ambow, China Education Alliance, and China-Training.com.