Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3065
China Crescent Enterprises, Inc. Announces Plan to Introduce Smartphone Software to Largest Mobile Phone Market in the World With an Estimated 550 Million Users
On-Demand Webcast Posted on Corporate Website
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - July 21, 2009) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
has posted an on-demand Webcast on its corporate website. The Webcast
reviews the Company's recently announced strategy to deliver software
solutions to the smartphone and mobile computing market in China and
includes an overview of the product offering and the market opportunity.
Additionally, the Webcast includes discussion on the Company's recent
listing on the Regulation SHO "threshold security" list and the potential
positive impact this listing may have on the Company's share price and a
suggested fair value price per share of $.30.
Regulation SHO Listing Indicates Stock May Have Been Sold Short
The Company was listed on the Regulation SHO "threshold security" list
after the close of trading Friday, July 17, 2009. Management anticipates a
possible buy-in that could result in an increased share price.
Regulation SHO is intended to provide a regulatory framework governing
short selling of securities. Regulation SHO is designed, in part, to
fulfill several objectives, to include establishing uniform locate and
delivery requirements in order to address problems associated with failures
to deliver and potentially abusive "naked" short selling (i.e., selling
short without having borrowed the securities to make delivery).
See the following link for more information:
http://www.nasdaqtrader.com/trader.aspx?id=RegSHOThreshold
A Buy-In and Increased PPS May Result to Cover Possible Short Sales
China Crescent has been added to the threshold security list because a
number of stock sales have been transacted but the actual shares have not
been delivered. The number of failures to deliver has exceeded the
Regulation SHO guidance. China Crescent will remain on the threshold
security list until the specified level of fails has not exceeded the
Regulation SHO standard for five consecutive settlement days. Any failure
to deliver that has resulted from a "naked" short sale may result in a
corresponding stock purchase to cover the short position. Stock purchasing
to cover short sales can add to the ordinary demand for stock purchases and
correspondingly contribute to an increased price per share.
Webcast to Review Smartphone and Mobile Computing Strategy
A link to today's Webcast titled 'Mobility Partnership and Fair Value
Target PPS Update (Reg SHO Threshold Overview) (July 21, 2009)' is
available on the Company's website under Webcasts at:
http://www.newmarkettechnology.com/about-newmarket-china.htm.
Corporate E-mail Updates
To be added to China Crescent's e-mail database to receive company updates
or to obtain more information on the Company, please send an e-mail to
ir@chinacrescent.com or call 214-722-3065.
About China Crescent Enterprises, Inc. (http://www.chinacrescent.com/)
China Crescent Enterprises, Inc. reported over $40 million in profitable
Revenue in 2008. The Company is a technology leader in the rapidly
developing Chinese market specializing today in software engineering, high
quality software development and digital multimedia outsourcing services
delivered to customers globally. At the same time, the firm is a systems
integrator and value added reseller of major global hardware brands in the
Chinese domestic market.
Headquartered in Dallas with operations in Shanghai and Beijing, China
Crescent bridges the gap between Western and Eastern business cultures to
assist Western clients in realizing the advantages of the high quality, low
cost technology products and services available from China. China Crescent
also assists Western 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.