NEW YORK, June 17, 2021 /PRNewswire/ -- Color Star
Technology Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as
"Color Star" or the "Company") announces the appointment of Mr.
Basil Wilson as the Company's new
Chairman and CEO.
As an entertainment technology company, Color Star has been
committed to the development of entertainment technology products.
The celebrity interaction platform, Color Star APP, has already
gathered 2 million registered users and received more than 50
million views since its launch on December
31, 2020. The Company is currently developing a new augment
reality (AR) interface that is designed to deliver a better
interactive experience to users. The newly appointed chairman and
CEO, Mr. Basil Wilson, has more than
15 years of experience in development of internet products that
combine the power of technology and entertainment. Mr. Basil Wilson has worked in the technology
research and development sector in entertainment companies across
Taiwan, South Korea, Japan, and Singapore, focusing on research of smart
trading of copyrights, virtual reality (VR) concert applications,
and 3D virtual portraits, among others. The appointment of Mr.
Basil Wilson indicates Color Star's
commitment to advancing in the development of future technology for
entertainment.
Former CEO Mr. Luke Lu has
brought on significant development to Color Star by launching a new
software platform that has accumulated millions of active users
since he took office. He leveraged resources to bring onto the
platform a superstar mentor team. Color Star's market
capitalization has increased dramatically under his leadership,
with its 2021 Year-to-date stock trading volume exceeding
$2.1 billion. Color Star is soon to
be included in the Russell Microcap Index. The team thank Mr.
Luke Lu for his achievements at
Color Star and in the future, he will continue to serve as the
company's Chief Art Officer to lead
the artistic development for the company.
Mr. Luke Lu, the former CEO of
Color Star, commented: "We are very pleased to have Mr.
Basil Wilson join us. Currently, the
Company is building up its research and development team. We will
continue to build and launch new AR entertainment products,
non-fungible token (NFT) products, and VR scenes. Mr. Basil Wilson's joining will help strengthen
Color Star's technology sector and to diversify the Company's
product development capabilities. I believe he will lead the
Company to new heights."
Color Star is currently working on creating a new interface for
the Color Star APP. Mr. Basil
Wilson's joining will help speed up the development process.
In the future, the Color Star APP interface will replace the
current menu with more intelligent interactive interface. More
entertainment sections will be added, such as 3D interfaces,
virtual character communities, and VR online concerts. The upgraded
version is expected to launch in July
2021. During this period, Color Star will also launch the
smart copyright trading center and online museums, which will make
online entertainment as interactive and lively as in-person
entertainment. We firmly believe that technology will change the
future.
About Color Star Technology
Color Star Technology Co, Ltd. (Nasdaq CM: CSCW) is an
entertainment and education company that provides online
entertainment performances and online music education services. Its
business operations are conducted through its wholly-owned
subsidiaries Color China Entertainment Ltd. And CACM Group NY, Inc.
The Company's online education is provided through its Color World
music and entertainment education platform. More information about
the Company can be found
at www.colorstarinternational.com.
Forward-Looking Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are
not guarantee of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's future
business development; product and service demand and acceptance;
changes in technology; economic conditions; the growth of the
educational and training services market in China and
other countries where CSCW conducts its business; reputation and
brand; the impact of competition and pricing; government
regulations; fluctuations in general economic and business
conditions and assumptions underlying or related to any of the
foregoing and other risks contained in reports filed by the Company
with the Securities and Exchange Commission. For these
reasons, among others, investors are cautioned not to place undue
reliance upon any forward-looking statements in this press release.
Additional factors are discussed in the Company's filings with the
U.S. Securities and Exchange Commission, which are available for
review at www.sec.gov. The Company undertakes no
obligation to publicly revise these forward–looking statements to
reflect events or circumstances that arise after the date hereof
unless required by applicable laws, regulations or rules.
For more information, please contact:
William Tu
Skyline Corporate Communications Group, LLC
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
Email: wtu@skylineccg.com
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SOURCE Color Star Technology Co., Ltd.