Century Milestone S&T Co. Ltd. Announces Unwinding of Acquisition of Business in China.Business Editors BOISE, Idaho--(BUSINESS WIRE)--April 26, 2001 Century Milestone S&T Co., Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CEML CEML Council for Excellence in Management and Leadership CEML Committee to End the Marion Lockdown CEML Coastal Environmental Modeling Laboratory (School of the Coast and Environment; Baton Rouge, LA) CEML Civil/Environmental Model Library ), which recently announced that it has entered into two Memorandums of Understanding to acquire Respond, Inc., a Boise, Idaho “Boise” redirects here. For other uses, see Boise (disambiguation). Boise is the capital and most populous city of the U.S. state of Idaho. It is the county seat of Ada County and the principal city of the Boise metropolitan area. based corporation and LL&D, a New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). based corporation, both of which provide ATM and armored car services, today announced the unwinding of the acquisition of Beijing Century Milestone S&T Co., Ltd., a company organized under the laws of the Peoples Republic of China ("Beijing S&T" ). The acquisition was unwound un·wound v. Past tense and past participle of unwind. unwound unwind due to the inability of the parties to obtain necessary consents and/or approvals from the Peoples Republic of China which were required pursuant to the March 6, 2000 Preliminary Plan of Reorganization. The unwinding will result in the cancellation and return to treasury of 20 million shares of the Company's common stock. Century Milestone will focus its efforts on its plans to penetrate the ATM and armored car services market in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Pursuant to this new business plan, Century Milestone is negotiating with Beijing S&T for a license to use and market Beijing S&T's data compression data compression Process of reducing the amount of data needed for storage or transmission of a given piece of information (text, graphics, video, sound, etc.), typically by use of encoding techniques. technology in North America. Century Milestone is proceeding with its year 2000 10-KSB, but do to the unwinding and reorganization will be unable to file its Form 10-KSB within the prescribed period. The Company expects to be current with its filings within two weeks This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially, as the result of such factors as (1) the ability of the company to finance its operations, and (2) other factors detailed in the company's public filings with the Securities and Exchange Commission. No assurance can be given that the company will be successful in implementing its plans. |
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