China NetTV Holdings Inc.: Press Release.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--March 4, 2004 China NetTV Holdings Inc., (the "Company") wishes to announce that none of its officers or directors has ever approved or is responsible for the content or the filing of the Information Statement allegedly filed with the SEC for the Company on March 3, 2004. The management wishes to further clarify that there has been no shareholder vote or approval for a five old shares for one new share reverse split as alleged in such filing. It has come to the attention of the management that the said Preliminary Information Statement appeared on SEC website March 3, 2004 under the Company's name and filing number. The said Statement reported a majority shareholder's approval of a five old shares for one new share reverse split of common stocks. However, the Schedule 14(C) attached to that Statement referred to Xin Net Corp. as the filing registrant An individual or organization that signs up (registers) for a training class or service. See domain name registrar. , instead of the Company. The management of the Company has concluded that such filing was in error, not attributable to the Company or its officers or directors. The management promptly instructed US counsel to seek removal of this erroneous erroneous adj. 1) in error, wrong. 2) not according to established law, particularly in a legal decision or court ruling. filing. The Board of Directors of the Company deeply regrets that this incident has occurred and has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: full investigation into the circumstances that led to the occurrence of this erroneous filing. The Company will release its results in due course. Any forward-looking statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this press release is made pursuant to the "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. " provisions of 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. Investors are cautioned that actual results may differ substantially from such forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors, product prices and changes in international and local markets, as well as the inherent risks of the mining related business. By order of the Board Ronald Xiuru Xie President & 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. |
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