SOURCE: EastBridge Investment Group

EastBridge Investment Group

January 04, 2010 08:00 ET

EastBridge Investment Group Signs Agreement to List Internet Education Company on Primary U.S. Stock Exchange

PHOENIX, AZ--(Marketwire - January 4, 2010) - EastBridge Investment Group (EBIG) (OTCBB: EBIG) today announced that it has signed an agreement with a new client, Tsingda Education Corporation ("Tsingda"), in Beijing, China. EastBridge has been retained to assist Tsingda to become listed on the NYSE-AMEX as soon as practical. Tsingda runs a chain of about 1,800 tutoring centers in China, offering after school tutoring classes to students ranging from elementary to high school levels. Its teaching content is delivered in real time via high speed internet to the individual classes every day.

Mr. Zhang Hui, CEO of Tsingda, commented, "We are the first to use the internet to deliver our content directly to the classrooms in real time. Students sit in front of their terminals learning the material and are able to enjoy two-way interactions with the computer. We do not need to hire expensive instructors for the classroom; therefore we only need aids to monitor students' attendance. We are currently growing at a compounded rate of over 80% a year in the last three years and we now have centers in more than 1,300 cities. In 2009, our revenue and after tax income (unaudited) were $13,250,000 and $5,882,300. After the listing in the U.S., we plan to launch a more aggressive expansion in order retain our dominant position in this sector in China. We want to thank EastBridge for their guidance in our listing process."

Tsingda's website:

Norm Klein, EBIG's COO/CFO, commented, "According to the unaudited internal data provided by Tsingda, the company is well qualified for the AMEX stock exchange listing as soon as the formal U.S. audit is completed. Their historical Net Income-to-Revenue ratio is very attractive. We especially like their low cost content delivery model. In return for our service, we will receive cash and stock payments from the client."

EastBridge Investment Group focuses on high-growth companies in Asia, offering IPOs, Joint Ventures and Merchant Banking services. The Company targets industries in electronics, real estate, auto, metal, energy, environmental, bioscience and food retail distribution.

Depending on the complexity and size of each project, EastBridge normally is compensated with anywhere from 10-25% stock ownership in the client company plus cash fees for the listing services provided.

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Forward-Looking Statements

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The Company has no obligation to update these forward-looking statements.

Contact Information

  • Contact:
    Norm Klein
    EastBridge Investment Group Corp.
    480-966-0808 (fax)
    Email Contact

    Investor Relations:
    Jack Eversull
    The Eversull Group, Inc.
    972-378-7917 or 972-571-1624
    Email Contact