• CER, together with the Curriculum Development Centre of China's Ministry of Education, developed a new teacher training model combining traditional teaching methods with leading edge technology offering video streaming and allowing teachers to interact with each other and with leading subject matter experts.
• The viability of the new teacher model both from a pedagogical and financial viewpoint was confirmed with the launch of a 10,000 teacher training program in the summer of 2006, furthering CER's goal of developing the standard for teacher training in China.
• Working with Apple Inc., CER increased its training capacity to reach 500,000 teachers simultaneously.
• CER now has the world's largest kindergarten to grade 12 teacher blogger system.
• The credibility of the CERSP portal was furthered affirmed by the endorsement of the Ministry of Education as a recommended portal for use by China's educational system.
• CER sold one of its subsidiaries in the textbook distribution business Northern Education Books Ltd. (NEB) and purchased the remaining 13% interest in its main operating subsidiary, Today's Teacher Technology & Culture Ltd. (TTTC), allowing CER to focus its efforts on the development of its education portal (www.CERSP.com).

• CER reported total revenues of $1.43 million for 2006 as compared to $6.01 million in 2005. The decrease was due to CER's phasing out of its traditional textbook distribution business and redirecting its efforts to portal development.
• Selling and administrative costs increased from $1.18 million to $1.83 million, due to an increase in accounting, legal, advertising and promotion fees and an increase in salaries as CER hired more people to assist with portal development.
• Expenses associated with stock based compensation increased from $91,039 in 2005 to $585,304 in 2006 as all outstanding options were vested and the fair value of these options were expensed using the Black Scholes option processing method.
• CER set up a provision for bad debt of $656,141 relating to the uncertainties of the collectibility of 2 loans made to companies in China. If these loans are subsequently collected, the proceeds will be brought into revenue.
• The net loss for 2006 was $2.57 million as compared to $.71 million in 2005. Basic and diluted EPS for the year was (0.0696) and (0.022) respectively.
• The net loss for 2006 before non-cash and one time charges was $1.03 million.

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