CBCom, Inc. Clears for Public Trading Status on the OTC Bulletin Board.Business Editors ENCINO, Calif. & BEIJING--(BUSINESS WIRE)--June 7, 2001 CBCom, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CBCI), a development stage company, positioning itself through strategic partnerships and acquisitions to help its partners become a major, non-state owned Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. ) in the People's Republic of China (PRC), announced today that it has begun trading on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. (OTCBB) under the symbol "CBCI." Max Sun, Chairman of CBCom, said, "Our ability to raise capital and grow our ISP and technology partnerships has been significantly improved now that our stock is publicly traded. Because we are using stock as currency to acquire interests in companies in China, we are now in a position to realize our business plan and aggressively grow the business." The Business Opportunity CBCom's initial strategy, through partnerships, to acquire and consolidate the highly fragmented ISP market in China, currently served by 300 smaller ISPs, is intended to accelerate the path to profitability by increasing its customer base. According to the China Internet Network Information Center China Internet Network Information Center (Simplified Chinese:中国互联网络信息中心), or CNNIC in short, founded as a non-profit organization on June 3, 1997, is the administrative agency responsible for Internet , by the end of December 2000, there were 8.9 million computers in China with access to the Internet and the total number of Internet users had reached 22.5 million. Once critical mass is reached through acquisitions, CBCom intends to launch an aggressive marketing campaign within this vast Chinese Internet market to attract additional subscribers and further benefit from economies of scale. For further information, please visit http://www.cbcom.net. Except for historical financial information that may be contained herein, the matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties, including but not limited to such factors as market demand, pricing, and changes in worldwide economic conditions. This report should be read in conjunction with the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and its quarterly reports on Form 10-Q Form 10-Q See 10-Q. . |
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