SOYO Inc. and GE Capital Solutions Sign Multi-Million Dollar Credit Agreement.ONTARIO, Calif. -- SOYO Group Inc Soyo Group Inc is a Taiwan-based electronics company. Established in 1985, Soyo manufactures many consumer electronic items including LCD Televisions and Bluetooth communication devices. . (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SOYO SOYO Society of Orthodox Youth Organization ), a leading global provider of large screen consumer electronics, computer peripheral devices Computer peripheral devices Any device connected internally or externally to a computer and used in the transfer of data. A personal computer or workstation processes information and, strictly speaking, that is all the computer does. , and broadband telecommunications products and services, announces a multi-million dollar agreement with GE Capital Solutions to provide both manufacturing and retailer finance options for SOYO's subsidiary, SOYO Inc. The agreement will enable SOYO Inc. to better meet the needs of their growing major customers, and will provide the company with increased access to production and delivery commitments. SOYO Inc. and GE Capital Solutions will utilize an integrated solution enabling SOYO Inc. to efficiently obtain significant manufacturing commitments and deliveries of its products. "The ability to accept and deliver these customer orders will enhance our close relationships with our distributors as well as our large individual retail customers," said Nancy Chu, CFO See Chief Financial Officer. of SOYO Inc. "We have consistently worked to build sales volume through internal cash flow and non-traditional accounts receivable financing Accounts Receivable Financing A type of asset-financing arrangement in which a company uses its receivables - which is money owed by customers - as collateral in a financing agreement. The company receives an amount that is equal to a reduced value of the receivables pledged. . By working with GE, we have dramatically improved the quality of our credit transactions, in addition to reducing production cycle times. In the end, our customers will get more products in less time, and we can continue to grow our sales volume." SOYO(TM) and GoVideo(TM) Large Screen Entertainment product lines will be the first to benefit from this extensive agreement. SOYO Inc. has experienced robust product demand in this sector, and will continue to focus on those products. SOYO Inc. has produced over 75% of its revenues from Large Screen Entertainment lines during the last four quarters. "We always want to compete in the most popular long replacement cycle consumer electronics markets. We can utilize our extensive manufacturing experience to build very good products at competitive prices, while building our brand awareness," said Ming Chok, 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. , SOYO Inc. About SOYO Group SOYO Group Inc. is a leading global provider of large screen consumer electronics, computer peripheral devices, and broadband telecommunications products and services. Headquartered in Ontario, Calif., with additional sales offices in South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , SOYO Group sells its products through an extensive network of authorized distributors, resellers, system integrators, VARs, retailers, mail-order catalogs and e-tailers, including Micro Center, Target.com, Walmart.com, eCost.com, Fry's Electronics, PC Mall, and Office Depot, among others. For more information about SOYO and its products, please call 909-292-2500 or visit SOYO's Web site at http://www.soyo.com. About GE Commercial Distribution Finance, a unit of GE Capital Solutions, specializes in financing the movement of finished consumers' goods throughout the distribution chain and serves more than 6,000 manufacturers who sell to over 40,000 retailers. CDF (1) (Central Distribution Frame) A connecting unit (typically a hub) that acts as a central distribution point to all the nodes in a zone or domain. See MDF. is a leading provider of specialized financing products and services for various industries. Offerings include inventory financing Inventory financing Used in the context of factoring and general finance to refer to loans to consumer product producers that use inventory as collateral. See also: Inventory loan. , trade flow financing, accounts receivable financing, asset based lending, private label financing, collateral management, e-commerce services and related financial products. Additional information about CDF can be found online at www.ge.com/cdf. GE Capital Solutions provides leasing, lending and capital investment products and services to help business customers grow. It has over $90 billion in assets, serves more than 1 million clients around the world and is headquartered in Danbury, CT, USA. For more on GE Capital Solutions, go to www.ge.com/capitalsolutions. GE (NYSE NYSE See: New York Stock Exchange :GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. For more information, visit the company's web site at www.ge.com. 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. Act Notice This information contains forward-looking statements within the meaning 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 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "can," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components and successful production of the company's products, general acceptance of the company's products and technologies, competitive factors, timing, and other risks described in the company's SEC reports and filings. Third-party statements contained herein and information contained on any third-party Web site are not endorsed by or adopted by SOYO, nor has their accuracy been verified by SOYO. |
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