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Liberty Alliance Announces 1 for 3.5 Reverse Stock Split and Name Change
Friday, July 18, 2008
SHENZHEN, China, July 18 /Xinhua-PRNewswire/ -- Liberty Alliance, Inc.
(OTC Bulletin Board: LBTI) announced today that the Company's board of
directors and stockholders approved a 1-for-3.5 reverse stock split of the
Company's outstanding common stock and a name change to SinoHub, Inc. As a
result of the reverse stock split, every 3.5 shares of the Company's common
stock will be combined into one share of the Company's common stock. The
reverse stock split affects all shares of common stock and stock options of
the Company outstanding as of immediately prior to the effective time of the
reverse stock split. The number of shares of the Company's common stock
currently outstanding is approximately 70 million prior to the reverse stock
split and will be reduced to approximately 20 million after the reverse stock
split.
Shares of the Company's common stock will trade on the Over-the-Counter
Bulletin Board under its new trading symbol "SIHI" on a split-adjusted basis
beginning on July 18, 2008.
The Company is a leading electronic components supply chain management
(SCM) service provider. The Company provides SCM services to electronics
manufacturers and component suppliers in the Peoples' Republic of China. Our
professional supply chain management platform integrates our proprietary,
world-class online MIS software system (SinoHub SCM), logistics service
centers located in key distribution/manufacturing cities in Hong Kong and
China, and a one hundred person strong service team with extensive knowledge
in electronics.
"With our brand new 26,500 square foot warehouse in place in Hong Kong, we
are positioned to rapidly expand our business in the second half of 2008,"
said Harry Cochran, CEO of SinoHub, Inc. "The added market recognition and
financial strength we are receiving as a public company in the United States
is helping SinoHub move quickly into a pivotal position in the electronic
component supply chain management services field in China."
About SinoHub
SinoHub, Inc. was founded by veteran entrepreneur Harry Cochran and
electronic component industry veteran Lei Xia to facilitate the electronics
revolution in China by providing world-class services and transparent
information access for all participants in the electronic components supply
chain in China. For more information, please visit our Web site at
http://www.sinohub.com .
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning
of the federal securities laws. Forward-looking statements are statements
that are not historical facts. These statements can be identified by the use
of forward-looking terminology such as "believe," "expect," "may," "will,"
"should," "project," "plan," "seek," "intend," or "anticipate" or the negative
thereof or comparable terminology, and include discussions of strategy, and
statements about industry trends and the Company's future performance,
operations and products.
For more information, please contact:
SinoHub, Inc.
Nicole Cheung
Tel: +86-755-2601-2481
Email: nicole@sinohub.com
SOURCE SinoHub, Inc.
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