MIAMI, March 11, 2005 (PRIMEZONE) -- Stock Market Alert's watch list includes: E Mobile Information Technologies (Pink Sheets:EMTK), Intel Corporation (Nasdaq:INTC), Cisco Systems, Inc. (Nasdaq:CSCO) and Lucent Technologies Inc. (NYSE:LU).
E Mobile Information Technologies (OTC: EMTK) issued a press release that may really get investor's attention. Late yesterday afternoon, the company announced the appointment of Phillip Barber to the positions of President, Chief Executive Officer, Director and Vice Chairman of the Board of Directors. Additionally, Mr. Barber shall assume the duties as President and CEO of RF Tune, one of two wholly owned subsidiaries of the company, the other being CHL Technologies. Before the news was released, the company's stock closed at around three cents a share.
The press release stated that both subsidiaries have been positioning themselves as major contributors, and ultimately leaders within their niche of the wireless industry.
Dr. Nan Hu, founder of the company, acknowledged the experience and the abilities of Mr. Barber as he ascends to the company's top positions. Dr. Hu stated that, "First and foremost, Mr. Barber brings with him experience, dedication and respect as consultant, lecturer and chairman of select committees in various professional organizations and as founder and CEO of Broadband Mobile Technologies, Inc., a pioneer in 4G technology. His relationships with representatives of leading telecommunications companies will serve E Mobile well." As part of Mr. Barber's engagement, E Mobile has signed a Letter of Intent to acquire Broadband Mobile Technologies which will be acquired in a deferred transaction.
The press release also stated that as part of the transition, Dr. Hu retains his role as Chairman of the Board of Directors and President and CEO of the CHL subsidiary. Added to this role within the company, Dr. Hu assumes the new corporate post of Executive Vice President, Carrier Content Services.
Mr. Barber noted that, "As a result of Dr. Hu's efforts, E Mobile is successfully transitioning from a developing into an operational company.
Mr. Barber stated that the company's other operating subsidiary, RF Tune, is moving forward on its own transition as well. He commented, "I expect to play a direct role in RF Tune business activities, using my consulting and business contacts to promote its extremely compelling and mature technology."
E Mobile is an emerging leader in the broadband mobile content market through its operating subsidiary CHL Technologies. Taking a different road from most application and content groups whose primary focus is Java, SMS and MMS, CHL focuses on developing and distributing innovative mobile applications and wireless value added services for Smartphones, Symbian, KJava, and Pocket PC. The result is that CHL Technologies is ahead of its competitors in ready applications and content for these new systems putting the company in an excellent position for the emerging 3G content market. CHL has committed to becoming the leading provider of these high tech content services internationally.
E Mobile's wholly-owned subsidiary RF Tune is a fabless RF IC development stage manufacturing company, transitioning to operating status. RF Tune has wireless system, technology agnostic patent pending beam forming (MIMO) intellectual property, chip design, and ICs for the 802.11/Wi-Fi market, with chips for the cellular and 802.16/WiMAX market in development.
Other Stocks of interest yesterday were: Intel Corporation (NASDAQ:INTC) up 0.04% on 79.9 million shares traded, Cisco Systems, Inc. (NASDAQ:CSCO) up 0.9% on 81 million shares traded and Lucent Technologies Inc. (NYSE:LU) up 1.3% on 31.6 million shares traded.
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