| CHVC Provides Update to Shareholders With Focus on Asian Market Company Expects Higher Margins and Growth |
|
|
Boca Raton, Florida – July 01, 2009 -- China Voice Holding Corporation (CHVC) (OTC: CHVC-News), today provided an update to Shareholders since completing the previously announced sale of its U.S. Subsidiaries to Flint Telecom Group, Inc. (OTCBB: FLTT) on January 29, 2009. CHVC's President and CEO Bill Burbank, said, "We are happy to report that the U.S. subsidiaries sold to Flint Telecom Group, Inc. have been successfully integrated into their operations. While Flint experienced some initial delays in receiving funding to enable payments to China Voice, Flint has overcome the funding obstacles and is now current on payments to the Company. As Flint's largest shareholder, CHVC is pleased with their progress and the value represented by Flint. We believe that our relationship and position with Flint will reap positive returns for China Voice's shareholders." Ron Allen, CHVC's CFO commented, "I just returned from a trip to Asia where I was able to work with our newly appointed business development firm, GVE Group Private Limited Singapore in establishing a plan to advance and grow CHVC in China. GVE is now working closely with the Company to identify acquisition candidates and companies that will help us to advance our Government Contracts for SKY O/A, our Office Automation application with integrated digital phone services. To achieve our Business Plan objectives in Asia, we have recently acquired Sino Beyond Limited, a Hong Kong company which will provide the vehicle for CHVC to acquire additional complementary businesses in the region. CHVC is a fully reporting company and is in the process of being sponsored by a Market Maker to become approved for quotation on the OTCBB market. The Company expects to work through the OTCBB approval process to become traded during this summer." Burbank continued, "Our China contract deployments have been slower than anticipated due to the merger between China Netcom and China Unicom. The good news is that we are in the final stages of signing a new agreement with the surviving entity, China Unicom, to sell and deploy SKY O/A under the ICT business brand. The Q-Chat teleconferencing application developed by CHVC subsidiary Candidsoft Technologies Company Ltd. of Beijing, Inc. (Candidsoft) for China Unicom's (CUC) SCDMA cellular network in GuangXi Autonomous Region and previously announced on March 03, 2009, continues to support over 400,000 users. To date, CUC has not expanded this application into other markets, primarily because CUC has not standardized its cellular network throughout the Country. Burbank added, "CHVC has continued to maintain offices in Boca Raton, Florida, Dallas, Texas, Singapore and in Beijing and Nanning China. We are grateful to our shareholders, employees and business partners for their support and hard work through this transition. The Company is now well positioned to move forward for the benefit of its shareholders." China Voice Holding Corp. ("CHVC") is a U.S. publicly-traded holding company headquartered in South Florida with a portfolio of next-generation communications products and services doing business in the People's Republic of China. Through its subsidiaries, the Company provides Voice over Internet Protocol ("VoIP") telephone services, office automation, wireless broadband, unified messaging, video conferencing, mobility services and other advanced voice and data services in China, where the Company has obtained full legal status as a licensed telecommunications company. CHVC's focus is on providing its innovative and patented voice and data solutions to government agencies and large enterprises in China. China Voice Holding Corp. trades Over-the-Counter and is listed in the Pink Sheets under the symbol "CHVC". CHVC has become a fully reporting company and files required financial and disclosure reports with the SEC. The Company is progressing through the process for quotation on the OTCBB and expects to move to this market in the near future. Additional information may be found at www.chvc.com. Forward-Looking Statements The foregoing, including any discussion regarding the Company's future prospects, contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to risks and uncertainties associated with economic conditions in the telecommunications industry, particularly in the principal industry sectors served by the Company; risks and uncertainties inherent in the operation of businesses outside the United States; changes in customer requirements and in the volume of sales to principal customers; the ability of the Company to assimilate acquired businesses and to achieve the anticipated benefits of such acquisitions; competition and technological change; and the ability of the Company to control operating costs and maintain satisfactory relationships with existing and potential vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors that may be set forth in the Company's anticipated filings with the Securities and Exchange Commission. China Voice Investor Contact: |