China Tie Tong to Offer China VoIP & Digital Telecom, Inc. Subsidiary Products in Markets Outside of China Tie Tong's Metropolitan Area Network ('MAN').Cooperative Venture Provides Additional Sales Channels for Jinan Yinquan Technology Co., Ltd.'s VoIP Business -- Paves Way for Low-Cost Expansion for Tie Tong tong 1 tr.v. tonged, tong·ing, tongs To seize, hold, or manipulate with tongs. [Back-formation from tongs. HENDERSON, Nev. -- As further evidence of the growing relationship between Jinan Yinquan Technology Co., Ltd., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of China VoIP & Digital Telecom Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CVDT CVDT Current Value Data Table CVDT Command Visual Display Terminal ) and China Tie Tong, one of the six largest basic telecom operators in China, the two companies announced today that they plan to enter into another joint venture project. The plan calls for China Tie Tong to install Jinan Yinquan VoIP products where Tie Tong networks are not available. "China Tie Tong will promote our VoIP telephones in areas without Tie Tong's Metropolitan Area Network (MAN)," said Li Kunwu, 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. of China VoIP & Digital Telecom Inc. "The beauty of our proprietary Soft Switch technology is that existing Internet users Internet user n → internauta m/f Internet user Internet n → internaute m/f can be developed into VoIP landline Land based. Refers to standard telephone and data communications systems that use in-ground and telephone pole cables in contrast to wireless cellular and satellite services. users of Tie Tong, even if the MAN is not installed." Kunwu said the cooperative venture will bring Jinan Yinquan yet another sales channel for its VoIP business and indicated that this represents a "win win" situation for both companies. "While we get an additional sales channel for our VoIP products and since the 'fix' lines in the areas in question are mainly installed and serviced by other telecom companies, this joint effort will enable Tie Tong to penetrate these markets without the significant costs associated with developing a landline infrastructure," said Kunwu. "Not only is it keeping with Tie Tongs' diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. strategy but it provides both companies with the opportunity to offer more convenient and lower-cost services to our respective customers." Jinan Yinquan currently services three provinces and 19 cities with Shandong Province its primary base of operations Noun 1. base of operations - installation from which a military force initiates operations; "the attack wiped out our forward bases" base air base, air station - a base for military aircraft army base - a large base of operations for an army . The Company recently announced it will expand to both Shanghai and Beijing and plans further expansion throughout China. The Company's proprietary NP Soft Switch IP telephone system enables users to access Voice over the Internet Protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. (VoIP) services allowing customers to use the system to make telephone calls to anyone in the world at a much lower cost than standard telephone rates. China Tie Tong has 31 provincial branches and 316 municipal branches. They employ approximately 72,000 people. Its high-speed backbone optical transmission network consists of five fiber loops covering most of the cities in China's 31 provinces and a distance of 52,000 kilometers. During the period of 2001 to 2005 annual revenues have grown by 30 percent while fixed-line subscribers increased from 1.35 million to 16.4 million. By the end of 2005 the company had 2 million Internet subscribers and assets of 53.3 billion RMB RMB Right Mouse Button RMB Regional Management Board (USACE) RMB Rolf Maier Bode (musician, band) RMB Ren Min Bi (currency of People's Republic of China) . (For more information go to www.chinatietong.com) About China VoIP & Digital Telecom Inc. China VoIP & Digital Telecom Inc. offers Voice over the Internet Protocol service in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China through its wholly owned subsidiary Jinan Yinquan Technology Co. Ltd. Through Jinan Yinquan, China VoIP is well positioned to take full advantage of the tremendous economic growth currently being experienced in China. The Company is currently marketing its NP Soft Switch system in China and is currently in the testing stage of other Information Technology products. The Company currently has 30 employees and is located in the Shandong Province, People's Republic of China. More information can be found at www.chinavoip-telecom.com. Notice Regarding Forward-Looking Statements 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. Statements regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. Forward-looking statements in this press release include that the beauty of our proprietary Soft Switch technology is that existing Internet users can be developed into VoIP landline users of Tie Tong, even if the MAN is not installed; that the cooperative venture will bring Jinan Yinquan yet another sales channel for its VoIP business and indicated that this represents a "win win" situation for both companies; that while we get an additional sales channel for our VoIP products and since the 'fix' lines in the areas in question are mainly installed and serviced by other telecom companies, this joint effort will enable Tie Tong to penetrate these markets without the significant costs associated with developing a landline infrastructure; and that Not only is it keeping with Tie Tongs' diversification strategy but it provides both companies with the opportunity to offer more convenient and lower-cost services to our respective customers. Actual results may differ materially from those currently anticipated due to a number of factors as we may find that our products must compete with cheaper or better products; we may not be able to retain key employees; a bigger market may not develop for our products and we may not be able to continue to attract new customers; we may face litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. if our technology fails to work when required; our intellectual property may be attacked and defeated in court proceedings; our patent filings may be rejected by the patent offices; other companies may discover and develop better or cheaper technologies that would render our products obsolete; we may not have sufficient funding to further develop and/or market our technology; and we may face regulatory issues in trying to expand throughout China. There are also country risks associated with investing in China, including currency fluctuation Fluctuation A price or interest rate change. , repatriation Repatriation The process of converting a foreign currency into the currency of one's own country. Notes: If you are American, converting British Pounds back to U.S. dollars is an example of repatriation. of capital, and potential regulatory hurdles. Readers are directed to the China VoIP & Digital Telecom Inc. reports as filed with the U.S. Securities and Exchange Commission from time to time, including but not limited to its 8-K filed November 13, 2006 under our prior name Crawford Lake Mining Inc. which outlined the company's current business for further information and factors that may affect China VoIP & Digital Telecom Inc.'s business and results of operations as well as the Company's form 10-QSB filed on December 15, 2006. China VoIP & Digital Telecom Inc. undertakes no obligations to publicly update any forward-looking statements to reflect future events or circumstances. |
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