SOURCE: S3 Investment Company

June 11, 2007 08:44 ET

S3 Investment Company Announces Completion of Audit for Redwood Capital Reverse Merger Client Dalian Chuming Group

DANVILLE, CA--(Marketwire - June 11, 2007) - S3 Investment Company, Inc. (PINKSHEETS: SIVC), a holding company with two subsidiaries doing business in the China market, today announced the completion of the audit for Redwood Capital reverse merger client, Dalian Chuming Group Co., LTD. Samuel H. Wong & Co. LLP, a leading certified public accounting firm with offices in the United States and Asia, conducted the audit work required for Dalian Chuming Group's entrance into the U.S. capital markets.

Redwood Capital provides an array of services to private Chinese companies and utilizes its extensive network of investment banking relationships to facilitate the client's listing on a U.S. public market through a reverse merger process. Included in Redwood Capital's services is to prepare the client company's internal accounting for the audit.

With the audit complete, Redwood Capital has now turned its attention to the completion of offering documents. The compliance team at S3 Investment Company will provide support for Redwood Capital as it prepares the offering documents.

"The completion of the audit is a major milestone in the process of preparing Dalian Chuming Group for its planned reverse merger into a U.S. public company, and we are pleased to have reached this stage," commented S3 chairman and chief executive officer Jim Bickel. "Considering the expected value in equity of each of Redwood Capital's reverse merger deals, moving the Dalian Chuming Group closer to completion is an important step."

Samuel H. Wong & Co. LLP, with offices in San Francisco, California, USA, Shanghai, China and Hong Kong, is experienced in performing the types of audits required for transactions such as reverse mergers of private Chinese companies into U.S. public "shell" companies.

Dalian Chuming Group Co., LTD, www.chuminggroup.com, is a major producer and exporter of fresh and frozen pork and other cooked meat products. The Chuming Group is among a select group of industrialized farming corporations in northeastern China and is known for its international quality management standards and international safety certifications. In late 2006, the company officially opened a $2.9 million feedmill with a capacity of 200,000 tons per year that will support its expansion of pork production. The pursuit of a U.S. public listing is expected to allow the Chuming Group to expand into additional worldwide markets.

To sign up to receive information by email directly from S3 Investment Company when new press releases, investor newsletters, SEC filings or other information is disclosed, please visit http://www.s3investments.com/investors/.

About S3 Investment Company

S3 Investment Company, Inc. (http://www.s3investments.com) is a holding company with two subsidiaries doing business in the China market. S3 holds a 100% equity interest in Redwood Capital (http://www.redwoodcapinc.com), which assists private Chinese companies in accessing U.S. capital markets by utilizing a network of investment banking relationships, and a 51% equity interest in SINO UJE (http://www.sinouje.com), a non-stocking distributor of medical and industrial high-tech products to markets throughout China. SINO UJE has been granted exclusive distribution rights in China to medical and industrial products manufactured by leading companies in Europe, North America and Japan. These products are marketed to end-users, including major Chinese hospitals and private companies in a variety of fields, as well as original equipment manufacturers (OEMs), such as Phillips, Siemens and GE, that package the products with their technologies.

Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. S3 Investment Company, Inc. undertakes no obligation to update any such statements to reflect actual events.

Contact Information

  • Contact:
    Gemini Financial Communications
    A. Beyer
    (951) 587-8072
    Email Contact