SOURCE: EFT BioTech Holdings, Inc.

November 20, 2007 11:57 ET

EFT BioTech Holdings, Inc. Announces New Developments

Share Exchange, New Ticker Symbol and Management Team, and 2007 FYE Forecasts

CITY OF INDUSTRY, CA--(Marketwire - November 20, 2007) - EFT BioTech Holdings, Inc. (formerly HumWare Media Corp.) (PINKSHEETS: EFTB) today announced the following:

    
--  On November 18, 2007, the Company consummated its previously announced
    share exchange with EFT BioTech, Inc., a Nevada corporation engaged in
    Business-to-Consumer (B2C) internet merchandising. Pursuant to the share
    exchange, the Company acquired 100% of the issued and outstanding shares of
    common stock of EFT BioTech, Inc. in consideration for 53,300,000 shares of
    the Company's common stock, representing approximately 87.01% of the issued
    and outstanding shares of the Company's capital stock on a fully diluted
    basis.  EFT BioTech, Inc. is now a wholly owned subsidiary of the Company.
    
--  That the ticker symbol for the Company's common stock on the OTC Pink
    Sheets will change from HMWM.PK to EFTB.PK, commencing the beginning of
    trading on Tuesday, November 20, 2007. The change is in connection with the
    Company's name change from HumWare Media Corp. on November 7, 2007 in
    contemplation of the share exchange with EFT BioTech, Inc. described above;
    and
    
--  On November 18, 2007, the Company's Board of Directors appointed the
    following persons to be the new executive officers of the Company,
    effective immediately:
    
    


     Person:                        Position:
     Jack Jie Qin                   President
     Tony Kwok-Man So               Chief Operating Officer and Treasurer
     Dr. Joseph B. Williams         Secretary

Outlook for the Fiscal Year Ending December 31, 2007

The Company is also reporting its forecasts for the fiscal year ending December 31, 2007 based on its results for the fiscal year ended December 31, 2006 per the table below:


                             For the Fiscal year Ended December 31,
                             --------------------------------------
                                  2006(a)                  2007(b)
                                (Unaudited)              (Projected)
                        ------------------------  -----------------------
                                          %  of                    %  of
                              ($)        Revenue        ($)       Revenue
Revenue
Sales                   $  44,300,000     100%    $  88,000,000     100%

Costs of Goods Sold
  Commissions             (27,466,000)     62%      (54,560,000)     62%
  Product Costs            (4,669,220)     17%       (9,275,200)     17%
                        -------------             -------------
Total Cost of Sales       (32,135,220)     73%      (63,835,200)     73%

Gross Profit               12,164,780      27%       24,164,800      27%

General and
 Administrative
 Expenses (G&A)             1,772,000       4%        3,520,000       4%

Other Income from
 Operations                   886,000       2%        1,760,000       2%

Net Income                 11,278,780      25%       22,404,800      25%
                        -------------             -------------

(a) Source: Unaudited financial statements for the fiscal year ended
    December 31, 2006.
(b) Projected.

About EFT BioTech, Inc.

EFT BioTech, Inc. is a very unique E-Business Company designed around the concept of Business-to-Customer using the World Wide Web as our "storefront" and business platform. EFT's method of conducting business is for a customer to go online and join EFT as an Affiliate. Once the customer completes the necessary information for joining EFT, selects and pays for his/her order, he/she is then considered as an EFT Affiliate. From that time on, the Affiliate is allowed to receive a commission on the purchases made by others who he/she introduces to EFT and also on additional Affiliates who his/her Affiliate introduces to the EFT. EFT's website is www.ef2t.com.

PSLA Safe Harbor for Forward Looking Statements

Statements made in this release with the respect to the Company's current plans, estimates, strategies and beliefs and other statements that are not historical are forward-looking statements. Forward-looking statements include, but are not limited to, those statements using words such as "believe,' "expect,' "plans," "strategy," prospects," "forecast," "estimate," "project," "anticipate," "aim," "may" or "might" and words of similar meaning in connection with a discussion of future operations, financial performance, vents or conditions. From time to time, oral or written forward-looking statements may also be included in other materials released to the public. These statements are based on management's assumptions and belief in light of the information currently available to it. The company cautions you that a number of important risks and uncertainties could cause actual results to materially differ from those discussed in the forward-looking statements, and therefore, you should not play undue reliance on them. You also should not rely on any obligation of the Company to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The company disclaims any such obligation unless required by law. Risks and uncertainties that might affect the Company include, but are not limited to (i) the global economic environment in which the Company operates, as well as the economic conditions in the Company's markets, (ii) levels of consumer spending, and (ii) exchange rates, particularly between the Chinese Yen and the U.S. Dollar. Risks and uncertainties also include the impact of any future events with material adverse impacts.

Contact Information

  • Contacts:
    Tony K So
    EFT BioTech Holdings, Inc
    Phone: (852) 9150 2104
    (1) 626-581-0388