(CCTR) China Crescent and (NUBL) NuMobile Announce January $160 Million LOI Review and Update in Shanghai to Assess Latest Progr
January 04 2011 - 09:21AM
Marketwired
China Crescent Enterprises, Inc. (OTCBB: CCTR)and NuMobile, Inc.
(OTCBB: NUBL) today announced senior management is scheduled to
convene later this month in Shanghai, China, to review the latest
progress on a $1.6 million pilot project that could lead to a $160
million contract.
Last year, China Crescent entered into a formal letter of intent
(LOI) agreement with an undisclosed Japanese firm to develop and
provide 10,000 custom Wi-Fi devices. In conjunction with the LOI,
the Japanese firm placed a $1.6 million purchase order for 100 sets
of the device in order to conduct a pilot test. NuMobile was been
selected by China Crescent to provide a key proprietary software
component for the special purpose Wi-Fi communication device. China
Crescent and NuMobile senior management are scheduled to meet in
approximately two weeks in Shanghai to review the latest customer
feedback on the pilot. Following the pilot review, China Crescent
and NuMobile plan to conduct a Webcast presentation to provide a
progress report on the pilot and LOI.
2011 Business Plan Update Scheduled January 6th
China Crescent plans to release an on-demand Webcast
presentation this Thursday, January 6th, to discuss its aggressive
plans for 2011 and review the Company's strong operational
performance in 2010. The following week, on January 14th, China
Crescent is scheduled to be featured in a NewMarket Technology,
Inc. (PINKSHEETS: NWMTD) (OTCQB: NWMTD) video Webcast.
Record 2010 Financial Performance
China Crescent recently reported $50.9 million in revenue
through the first nine months of 2010, compared to $30.3 million
for the same period in 2009, a 67% increase. Additionally, the
Company's net income for the first nine months of 2010 was $3.3
million, up from $1.9 million for the same period last year. China
Crescent's revenue and net income through the first three quarters
of 2010 has exceeded the Company's 2009 annual revenue and net
income results. China Crescent achieved $45.6 million in 2009
annual revenue with $2.2 million in net income.
Anticipated 2011 Highlights
After a year of substantial growth and expansion in 2010,
management plans to pursue a listing on a NYSE Euronext platform in
2011 as part of a broader overall NewMarket Technology Greenfield
Partner national exchange listing strategy. China Crescent also
plans to spin off one of its subsidiary operations in China through
a transaction that would include distribution of stock in the
subsidiary operation to China Crescent shareholders.
Cornerstone Role in Greenfield Partnership Program
China Crescent was featured last week in an on-demand NewMarket
Technology CEO Webcast presentation. In the presentation, NewMarket
CEO Bruce Noller highlighted China Crescent's 2010 operational
performance and 2011 business plan updates in a comprehensive
presentation on NewMarket's operations and plans. The Webcast is
available now for on-demand review at www.newmarkettechnology.com
or directly at http://tinyurl.com/NewMarket1230.
PPS, ROI and The OTC(BB) Factor Webcast
China Crescent was also recently featured in a Greenfield
Partnership Program Webcast available for on-demand review now at
www.newmarkettechnology.com or directly at
http://tinyurl.com/GFWebcast1221. The Webcast, titled 'The OTC(BB)
Factor -- A Different Perspective On Achieving An ROI' discusses
the different types of companies quoted on the over-the-counter
market while suggesting different investment expectations
associated with each type and suggesting specific strategies to
achieve investment expectations.
China Crescent Letter to Shareholders
China Crescent recently released a letter to shareholders
(http://tinyurl.com/CCTRLTS). The letter reviews China Crescent's
operational successes in 2010 and highlights potential operational
successes anticipated in 2011 that could trigger future return on
investment opportunities. The letter also reviews the Small Equity
Initiative and its participation in the recent Economist Magazine's
World in 2011 Festival that included President Clinton and the
Clinton Foundation and in the United Nations International Strategy
for Disaster Reduction (UNISDR).
Sign Up to Receive Regular China Crescent Investor Updates China
Crescent sends email updates to its opt-in, permission-based email
database. Interested investors can easily, safely and quickly
register to receive these communications directly on the corporate
website homepage (www.chinacrescent.com). Recipients can manage
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About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent is a systems integration service provider that
markets technology outsourcing services in China including the sale
and service of brand name technologies such as Microsoft, Cisco,
IBM, HP and Dell. Following a strategic acquisition last year, the
Company expanded its business line to include original design
manufacturing (ODM). China Crescent reported $45 million in
profitable revenue in 2009 after reporting over $40 million in
revenue for both 2007 and 2008 and has set a goal of reaching $100
million in revenue in 2010. Headquartered in Dallas with operations
in Shanghai, Shenzhen, Dalian and Beijing, China Crescent bridges
the gap between global business cultures to assist clients
worldwide realize the advantages of the high quality, low cost
technology products and services available from China. China
Crescent also assists clients in localizing products and services
to realize the tremendous growth potential available by expanding
into the Chinese Market.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995 This press release contains forward-looking
statements that involve risks and uncertainties. The statements in
this release are forward-looking statements that are made pursuant
to safe harbor provision of the Private Securities Litigation
Reform Act of 1995. Actual results, events and performance could
vary materially from those contemplated by these forward-looking
statements. These statements involve known and unknown risks and
uncertainties, which may cause China Crescent's actual results in
future periods to differ materially from results expressed or
implied by forward-looking statements. These risks and
uncertainties include, among other things, product demand and
market competition. You should independently investigate and fully
understand all risks before making investment decisions.
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Contact: China Crescent Enterprises, Inc. Email Contact
214-722-3060