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January 6, 2014
08:04 EDTSINOSino-Global signs three-year strategic partnership with China United Tally
Sino-Global announced that it has signed a three-year strategic partnership agreement with the Dalian subsidiary of a Chinese state-owned enterprise, China United Tally Co., Ltd. to jointly develop third-party verification services at key ports across China. Under the terms of the Agreement, China Tally Dalian will be Sino-Global's exclusive partner in the development and deployment of third-party verification services for the Company's customers at key ports across China.
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June 30, 2015
07:32 EDTSINOSino-Global secures first priority ship lien on vessel
Sino-Global announced that it secured a first priority ship lien from Rong Yao International Shipping Limited on the 8,818 gross tonnage oil/chemical transportation tanker called the "Rong Zhou", being acquired by the company pursuant to the previously announced Asset Purchase Agreement, and received a net payment of $225,000 in the first month of operation under a previously disclosed two-year time charter agreement for the Vessel which obligates the chartering party to pay Sino-Global every 15 days at a daily rate of $7,500. In the event the acquisition of the Vessel by the company does not occur, pursuant to the Purchase Agreement, the Vessel Seller is required to immediately pay to the company $2.22M in cash, the agreed value of the 1.2M shares previously issued by the company to the Vessel Seller as the first installment of the purchase price of the Vessel. The placing of the lien on the Vessel provides the Company with a definitive mechanism to assist the company in obtaining the $2.22M value of the shares issued to the Vessel Seller if the Vessel acquisition does not occur. The company believes, based on current expectations and information, that during the 2-year term of the TCA, the company will generate revenues and net profit of approximately $5 million and $1.8 million, respectively. Sino-Global intended to close on the acquisition of the Vessel by June 30, 2015, but agreed to extend the closing date in order to assist the Vessel Seller in satisfying its closing conditions pursuant to the Purchase Agreement.

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