CHANGZHOU, China, Aug. 12, 2011 /PRNewswire-Asia/ -- China CGame,
Inc. (Nasdaq:CCGM), a self-developer of online games and a provider
of high-end building envelope architectural systems, today
announced that Kelly Wong has
resigned from the Company's Board of Directors due to time
constraints with her current employer. Her resignation was not due
to any disagreement with the Company, or its financial statements,
and she is sorry to leave. At the time of her resignation, Ms. Wong
served as Chairman of the Audit Committee.
Mr. Jun Tang, Board Chairman of
the Company, stated, "We appreciate Kelly's dedication to the
company and its shareholders. Kelly has served our Board with
distinction for many years as our Audit Committee Chair. She has
been an integral part of the company. Kelly also brought to the
Board valuable experience in the areas of accounting. We regret the
loss of her contributions. We wish her well in her future
endeavors. "
About China CGame
China CGame, Inc. is a self-developer of online games and
provider of high-end building envelope architectural systems.
Through its subsidiaries, Changzhou ConnGame Network Ltd. and
Shanghai ConnGame Network Ltd., the Company leverages its game
engines, development platforms, and production teams to develop and
operate MMORPGs. The Company has two games under development. The
first game, "Revolution," will allow game players to travel between
Western and Eastern cultures, including adventures at historic
locations and turf wars. The second game, "The Warring States," is
a historic military adventure game based on the well-known period
in ancient Chinese history of the same name. Game players will be
able to join any of the seven states (e.g. Qin, Chu, Wei, Zhao,
Yan, Han or Qi), and experience the historic battles of the period.
The Company also provides design, engineering, fabrication and
installation services for high-end curtain wall systems, roofing
systems, steel construction systems, and eco-energy systems.
Forward-Looking Statements
In addition to historical information, the statements set forth
above may include forward-looking statements that involve risk and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. Actual results could
differ materially from the expectations contained in
forward-looking statements as a result of risks and uncertainties,
including, but not limited to, difficulties in moving into the
online gaming market; the Company's ability to successfully and
timely develop and commercially launch its first MMORPG game; the
completion risk with respect to the proposed equity investment from
Changzhou Binhu Construction Development Group Co.; required
Company payments under the waiver agreement and ability to maintain
the conditions of the bondholder waiver and dilution from the
potential adjustment to the conversion price of the bonds for
non-compliance with the waiver; identification and remediation of
the Company's deficiencies and weaknesses in its internal controls
over financial reporting, potential claims or litigation that may
result from the occurrence of restatements, ability to identify and
secure debt, equity, and/or other financing required to continue
the operations of the Company; reduction or reversal of the
Company's recorded revenue or profits due to "percentage of
completion" method of accounting and expenses; increasing
provisions for bad debt related to the Company's accounts
receivable; fluctuation and unpredictability of costs related to
our products and services; adverse capital and credit market
conditions; expenses and costs associated with its convertible
bonds, regulatory approval requirements and competitive conditions;
and various other matters, many of which are beyond our control.
These and other factors that may result in differences are
discussed in greater detail in the Company's reports and other
filings with the Securities and Exchange Commission.
SOURCE China CGame, Inc.