CBQ, Inc. Plans Name Change to 1st in China, Inc.
ADDISON, Texas--(BUSINESS WIRE)--May 16, 2000
CBQ, Inc. (OTCBB:CBQI) The E-Business Marketplace plans to change its name to 1st in China, Inc. to reflect the company's increasing focus on China. The name change is subject to shareholder approval.
New corporate headquarters will be 1919 Pennsylvania Avenue, N.W., Washington, D.C., with representative offices in Beijing and Hong Kong through Chung Hua Wireless Internet Limited.
1st in China, Inc. subsidiaries are: ChinaSoft, Inc, a software developer in China; China Wireless, Inc., which is developing the wireless Web for China; China Partners, which is developing an online trading portal for China; Reliance Technologies, focused on Web development and hosting; Tophernet, a regional ISP located in Dallas, and Priority One Electronic Commerce Corporation, an e-payment solution provider.
"The 1st in China, Inc. name reflects our pioneering and increasingly intense focus on the Chinese market," explained Bart S. Fisher, Chairman, CBQ, Inc. "There is no other publicly traded vehicle that has the scope and breadth of our efforts there."
Fisher says a key component of the 1st in China, Inc. mission is to give the public an opportunity to invest in a company that will lead the way in developing international trade and investment opportunities with the People's Republic of China as it achieves Permanent Normal Trading Relations with the United States and accedes to the World Trade Organization.
1st in China, Inc. claims to be the business-to-business (B2B) gateway between the United States and China, offering B2B portal services and a full complement of trade and commerce portals. The company expects the B2B market to be much larger than the business-to-consumer transactions market.
"China is the fastest growing and most exciting international market in the world today," Fisher added. "As the world's most populous country, China has the potential to be the world's largest economy. We intend to be the dot.com company for China."
Fisher has 28 years background in United States-Chinese trade and investment, and will bring this experience and strong management skills to 1st in China, Inc. He is currently Council for the Ministry of Foreign Trade and Investment of the People's Republic of China in Washington, D.C.
CBQ, Inc. The E-Business Marketplace is a total end-to-end provider for implementing customer driven e-business solutions. Through its subsidiaries, Reliance Technologies, Inc. and Priority One Electronic Commerce Corp., it can design, implement, host, build traffic and process payments for its customers' e-business initiatives. ChinaSoft, Inc. is a wholly-owned subsidiary of CBQ, Inc. that is a joint-venture partner with CCSoft Technology Developing, Ltd. (formerly, Beijing Zhongruan Zhixun Technology Developing Co.). Services include Software Development for Enterprise computing and Internet Development. For more information about CCSoft, visit www.ccsoft.com.cn. China Partners, Inc. is a wholly-owned subsidiary of CBQ, Inc. that focuses on facilitating trade and investment opportunities between companies in the United States and Chinese through its trade portal, Chinapartners.net. For more information on CBQ, Inc., visit www.cbq.com.
This news release includes forward-looking statements related to CBQ Inc. that involve risks and uncertainties, including, but not limited to, quarterly fluctuations in results, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. For further information about these factors that could affect CBQ's future results, see the company's filings with the Securities and Exchange Commission (the "Commission"). Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual results may differ materially from management expectations.