-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LsJy9WUsBsuqPYRuTphdEiezV3KZdKc0Z0PqrWez6f/g+K7wMqy4/o8p6IAsIAu4 YL02/m+k49zgSNRGALokLg== 0001144204-08-043207.txt : 20080731 0001144204-08-043207.hdr.sgml : 20080731 20080731172538 ACCESSION NUMBER: 0001144204-08-043207 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080725 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080731 DATE AS OF CHANGE: 20080731 FILER: COMPANY DATA: COMPANY CONFORMED NAME: China Solar & Clean Energy Solutions, Inc. CENTRAL INDEX KEY: 0000717588 STANDARD INDUSTRIAL CLASSIFICATION: HEATING EQUIPMENT, EXCEPT ELECTRIC & WARM AIR FURNACES [3433] IRS NUMBER: 953819300 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-12561 FILM NUMBER: 08982736 BUSINESS ADDRESS: STREET 1: BUILDING 3 NO. 28, STREET 2: FENG TAI NORTH ROAD, CITY: BEIJING STATE: F4 ZIP: 100071 BUSINESS PHONE: 86-10-63850516 MAIL ADDRESS: STREET 1: BUILDING 3 NO. 28, STREET 2: FENG TAI NORTH ROAD, CITY: BEIJING STATE: F4 ZIP: 100071 FORMER COMPANY: FORMER CONFORMED NAME: Deli Solar (USA), Inc. DATE OF NAME CHANGE: 20050908 FORMER COMPANY: FORMER CONFORMED NAME: MEDITECH PHARMACEUTICALS INC DATE OF NAME CHANGE: 19920703 8-K 1 v121546_8k.htm
UNITED STATES
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): July 25, 2008
 
 
China Solar & Clean Energy Solutions, Inc.
 
 
 
(Exact name of registrant as specified in its charter)
 
 
Nevada
 
000-12561
 
95-3819300
(State of Incorporation)
 
(Commission File No.)
 
(IRS Employer
 
 
 
 
Identification No.)
 
 
Building 3 No. 28, Feng Tai North Road, Beijing China, 100071
 
 
(Address of principal executive offices, including zip code)
 
 
 
+86-10-63850516
 
 
(Registrant's telephone number, including area code)
 


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):

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 


Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Directors, Compensatory Arrangement of Certain Officers.

On July 25, 2008, Mr. Kevin Randolph resigned from his position as a director of China Solar & Clean Energy Solutions, Inc. (the “Company”) to pursue other interests. Mr. Randolph’s resignation was not the result of any disagreement with the Company on any matter relating to our operations, policies or practices.

Effective July 25, 2008, Messrs Joseph J. Levinson and Yihai Yang were appointed as directors of the Board of the Company (the “Board”). At the same time, Mr. Levinson was also appointed as Chairman of the Audit Committee and Mr. Deli Du, the Chief Executive Officer of the Company, was appointed as Chairman of the Compensation Committee.

The Board now consists of 5 members 3 of whom are independent. The Company is contractually obligated to have a majority of independent directors on the Board, which consists of a minimum of five directors. The Company is also contractually obligated to have Audit Committee comprised solely of at least three independent directors and a Compensation Committee of at least three directors, a majority of whom are required to be independent. At present, Messrs. Zhenhang Jia and Zhaolin Ding are the sole members of both Audit Committee and Compensation Committee. With the appointment of Mr. Levinson as Chairman of the Audit Committee and Mr. Du as Chairman of the Compensation Committee, our contractual obligations will be met.

Mr. Levinson has not had any relationship with the Company (either as a partner, stockholder or employee) in the past three years and he is qualified as an independent director as defined by rules of the Nasdaq Stock Market.

The compensation for the directorship of Messrs. Levinson and Yang is set forth as follows:
 
 
(1)
an annual fee of $20,000, payable semi-annually;
 
(2)
reimbursement of reasonable travel and lodging expenses incurred with the attendance of any board meeting; and
 
(3)
the right to participate in any future compensatory or benefits plans.
 
Mr. Du will receive no compensation for his services as Chairman of Compensation Committee.

Mr. Joseph J. Levinson, age 32, has served as Chief Executive Officer of Levinson Services Partnership, a U.S. consulting company, since March 2006. Mr. Levinson also serves as a director and Chairman of Audit Committee of China Aoxing Pharmaceutical (CAXG), a Florida corporation. Mr. Levinson also serves as a director of China 3C (CHCG), a Nevada corporation. From September 2006 through February 2007, he worked as the Chief Financial Officer of PacificNet, a NASDAQ listed company. From January 2006 to May 2007, Mr. Levinson worked for Global Pharmatech (GBLP) as Chief Financial Officer and director. From October 2001 to December 2005, Mr. Levinson was a partner at Halo Equity Consulting Partnership, a Hong Kong private company. From December 2004 to January 2006, he worked at BOL Media, a PRC media company, as the Chief Financial Officer. Mr. Levinson is a certified public accountant. In December 1994, he graduated from State of University of New York at Buffalo with a B.S. Degree in Accounting and Finance.
 


Yihai Yang, age 41, was appointed as our Acting Chief Financial Officer effective March 14, 2008. From September 2006 until February 2007 Mr. Yang, served as Financial Controller of China Diagnostics Medical Corporation, a company engaged in the business of pharmaceutical research and development. From April 2005 to August 2006, Mr. Yang served as the Chief Financial Officer of Beijing Tanglewood Tour Development, Ltd., a company engaged in the business of real estate investment and development. From July 2002 to March 2005, Mr. Yang studied in the UK and obtained his Masters Degree in Finance and Accounting from London South Bank University. From March 2000 to July 2002 Mr. Yang worked for CE Accountancy Ltd. as a project manager. In 1990 Mr. Yang graduated from Shenyang Industrial University with a BA in Financial Accounting.

Item 9.01
Financial Statements and Exhibits
 
 
         
(d)
  
Exhibit No.
  
Description
     
 
  
        99.1
  
Press release
 

 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
 
Date: July 31, 2008
China Solar & Clean Energy Solutions, Inc.
 
(Registrant)
 
 
By:  
/s/ Deli Du
 
Deli Du
 
President and Chief Executive
Officer
 

 
EX-99.1 2 v121546_ex99-1.htm Unassociated Document
Exhibit 99.1
 
China Solar & Clean Energy Solutions Announces Board of Directors Changes
 
--Departure of Kevin Randolph and Appointment of Joseph J. Levinson
 
and Yihai Yang-

BEIJING, CHINA (July 31, 2008) -- China Solar & Clean Energy Solutions, Inc. (OTC BB: CSOL), a premier manufacturer and distributor of solar water heaters, renewable energy solutions, and space heating devices in the People's Republic of China (the "PRC"), announced today that Kevin Randolph will resign as a director, effective immediately. The Board has appointed Joseph J. Levinson and Yihai Yang, acting Chief Financial Officer, to be directors of the company.
 
"We would like to thank Kevin for his service to China Solar & Clean Energy Solutions," said Deli Du, President of China Solar & Clean Energy Solutions. "We understand, however, his desire to devote greater time to other interests, and wish him well in his future endeavors."
 
Mr. Joseph J. Levinson is CEO of Levinson Services Partnership, a U.S. consulting company, since March 2006. Mr. Levinson also serves as a director for China Aoxing Pharmaceutical (CAXG), based in Florida, as well as for China 3C (CHCG), based in Nevada. From September 2006 to February 2007, he worked as the CFO of PacificNet, a NASDAQ-listed company. From January 2006 to May 2007, Mr. Levinson served as CFO and Director of Global Pharmatech (GBLP). From 2001 to 2005, Mr. Levinson was a partner at Halo Equity Consulting Partnership, a Hong Kong private company. He has also served as CFO for BOL Media, a PRC media company. Mr. Levinson is a certified public accountant. He graduated from State of University of New York at Buffalo with a bachelor in science in Accounting and Finance.

Mr. Yihai Yang was appointed as the acting CFO of the Company on March 14, 2008. Prior to joining the Company, Mr. Yang served as Financial Controller of China Diagnostics Medical Corporation, a pharmaceutical company. From April 2005 to August 2006, Mr. Yang was the CFO of Beijing Tanglewood Tour Development, Ltd., a real estate company. From 2000 to 2003, Mr. Yang worked as a project manager for CE Accountancy Ltd. Mr. Yang obtained his Masters Degree in Finance and Accounting from London South Bank University and completed his undergraduate studies in Financial Accounting at Shenyang Industrial University.

In addition, Mr. Levinson will also serve as Chairman of the Audit Committee and Mr. Deli Du, the Chief Executive Officer of the Company, was appointed as Chairman of the Compensation Committee. Mr. Du will receive no compensation for his services as Chairman of Compensation Committee.

 
About China Solar & Clean Energy Solutions, Inc
 
China Solar & Clean Energy Solutions, Inc. operates through its wholly owned subsidiaries Bazhou Deli Solar Energy Heating Co. Ltd. ("Deli Solar (Bazhou)"), Beijing Deli Solar Technology Development Co., Ltd., Shenzhen PengSangPu Solar Industrial Products Corporation and its 51% ownership in Tianjin Huaneng Group, all located in the PRC. The Company manufactures and distributes hot water and space heating devices to customers in the PRC, in addition to waste heat recovery systems. For more information, please visit http://www.cn-sce.com .
 
Safe Harbor Statement:
 
 
 

 
 
Certain statements in this news release may contain forward-looking information about China Solar & Clean Energy Solutions and its subsidiaries business and products within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. The actual results may differ materially depending on a number of risk factors including, but not limited to, the general economic and business conditions in the PRC, market and customer acceptance and demand for products, ability to market products, fluctuations in foreign currency markets, the use of estimates in the preparation of financial statements, the impact of competitive products and pricing, the ability to develop and launch new products on a timely basis, the regulatory environment, fluctuations in operating results, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks factors detailed in the Company's reports filed with the Securities and Exchange Commission. China Solar & Clean Energy Solutions undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
 
 
For more information please contact:

Yihai Yang
China Solar & Clean Energy Solutions, Inc.
Tel: +86-10-6385-0516
Email: jacky01865@gmail.com

Dan Joseph
ICR, Inc.
86-21-6122-1077
dan.joseph@icrinc.com

Bill Zima
ICR, Inc.
Tel: 203-682-8200
william.zima@icrinc.com
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