CXN/Bio-Tracking Reduces Debt by 97.1%.Business Editors/Automotive Writers/High-Tech Writers MONTREAL, Quebec--(BUSINESS WIRE)--May 27, 2004 CHINA XIN NETWORK MEDIA CORP. (CXIN:OTCBB OTCBB See OTC Bulletin Board (OTCBB). )The company balance sheet has been strengthened as a result of a significant reduction in liabilities. On December 31, 2003 liabilities were $1,345,149. Today the company stands virtually debt-free, at $38,463, an impresive reduction of 97.1%. This directly confirms the company's ability to persist with the execution of its business model by enhancing the capacity to raise additional capital with terms and conditions in our favor. Management 's view is the company's financial statements which reflect a material improvement in the financial performance of the company,demands recognition and respect, proving actions speak louder than words. Management would like to reiterate our philosophy of increased overall financial transparency to provide investors with the disclosure necessary to evaluate the company and to make informed investment decisions. Our goal is to improve investors' understanding of the company's financial condition by providing the context within which the company's financial statements should be analyzed. Mr. Kerry Schacter, B.Admin., CIM (1) (Computer-Integrated Manufacturing) Integrating office/accounting functions with automated factory systems. Point of sale, billing, machine tool scheduling and supply ordering are part of CIM. , Independent Director and Financial Advisor of CXN CXN Checkerboard Nightmare (web comic) Media/Bio-Tracking commented, "A clean, strong balance sheet goes a long way to restore investor confidence. By enabling investors to see the company through the eyes of management, we are putting our valued investors in the driver's seat driv·er's seat n. A position of control or authority. ." Chairman, President, 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 voiced, "I continue to demonstrate my commitment to deliver on my promise to enhance shareholder value, paving the way for sustainable revenue and earnings growth." "Further my dedication is unchallangble." Mr. Michael Tremis added with conviction. Management invites any interested shareholder or investor wishing to submit written comments on any aspect of the company to do so by sending your e-mails directly to company President Mr. Michael Tremis. 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 Of Montreal is an American indie pop band formed in Athens, Georgia, fronted by Kevin Barnes. It was among the second wave of groups to emerge from The Elephant 6 Recording Company. , 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 Privledge Control, Remote Shutdown, Lock/Unlock, GPS / Inertial Navigation, Biometric Fingerprint Identification, Voice Communication and Spread Spectrum Communication. SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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 from its operations and the ability of the Company to manage its operations. FOR INFORMATION, PRESS RELEASES AND SEC FILINGS. Website:www.bio-tracking.com |
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