CXN/Bio-Tracking Proposes $1 Million Stock Repurchase Program.Business Editors MONTREAL--(BUSINESS WIRE)--May 6, 2004 CHINA XIN NETWORK MEDIA CORP. (CXIN:OTCBB OTCBB See OTC Bulletin Board (OTCBB). ) President, Chairman, and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Mr. Michael Tremis proposes a $1 million Company Stock Repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. Program, subject to approval by the company's Board of Directors from the completion of $4 million in equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. and total compliance with all applicable SEC and IDA Ida (ē`dä), city (1990 pop. 91,859), Nagano prefecture, central Honshu, Japan, on the Tenryu River. It is an agricultural market and railway junction. rules and regulations. Mr. Michael Tremis stated, "I consider our share price to be highly undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. at current market levels considering the stage this company is at today. We have successfully completed the acquisition of the innovative and leading Security/Tracking Applications Platform, put in place a Fortune 500 caliber management team to deliver the next-generation Biometric Security/Tracking Technology, and the introduction of our 3 new models, WARLOCK I, II, III" Mr. Kerry Schacter, Independent Director and Financial Advisor of CXN CXN Checkerboard Nightmare (web comic) Media/Bio-Tracking commented, "The Board of Directors must determine if the company's use of proceeds to execute its business model, (see web site www.bio-tracking.com/), should include the acquisition and retirement of $1 million of company stock using 25% of the capital raised while ensuring adequate financing to fund the next two years of manufacturing, marketing and operating expenses. As financial advisor to the company, I strongly recommend that the Board support and encourage this aggressive initiative put forth by Mr. Michael Tremis." Mr. Michael Tremis concluded, "My goal is to create an immensely successful and profitable corporation, void of any unnecessary dilution. My philosophy of transparency, full disclosure, and timely reporting allows our valued shareholders the opportunity to voice their opinions directly to management as decisions are being made, without having to incur the prohibitive cost associated with a mail-in proxy. I suggest all shareholders to send their opinion by e-mail to mtremis@bio-tracking.com." ABOUT BIO-TRACKING SECURITY INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . CHINA XIN NETWORK MEDIA CORPORATION acquired BIO-TRACKING SECURITY INC. of Montreal, Canada, in December 2003. Bio-Tracking designs and manufactures Vehicle/Asset Tracking and Security Technology, based on a Patent Pending, Wireless Interconnection Methods, Real-time Tracking, Driver Privilege Control, Remote Shutdown, Lock/Unlock, GPS / Inertial Navigation, Biometric Fingerprint Identification, Voice Communication and Spread Spectrum Communication. SAFE HARBOR STATEMENT Safe Harbor Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements, contained in this release which are not historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties including, without limitation, demand and competition for the Company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the Company to generate cash flow and manage its operations. FOR INFORMATION, PRESS RELEASES AND SEC FILINGS. Website:www.bio-tracking.com |
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