SOURCE: Cephas Holding Corp.

October 05, 2009 09:36 ET

Cephas Holding Corp. Provides Corporate Update on Third Quarter

NEW YORK, NY--(Marketwire - October 5, 2009) - Cephas Holding Corp. (PINKSHEETS: CEHC) today provided an update on corporate activities that took place in the third quarter as well as updates on other developments.

Fedor Emelianenko. Earlier this year, the company entered into a three year licensing agreement with Mr. Emelianenko for the use of his image, likeness, and name on applications for the iPhone platform. The company is currently developing three applications under this agreement. Fedor is generally regarded as the best mixed martial artist in the world. He is scheduled to fight Brett Rogers in a nationally televised fight which will be broadcast on CBS in November. Mixed martial arts has been called the fastest growing sport in America.

Iron Sheik. The company launched its first iPhone application, "Iron Sheik Soundboard," recently in the Apple app store. The Iron Sheik is a world recognized, professional wrestler. Cephas expects to launch a promotional campaign for this app with the Sheik as he appears at various events and in the media to promote the app and his relationship with Cephas.

Other iPhone applications. The company is exploring several other applications as well as other licenses for popular brands and personalities. Cephas intends to offer a portfolio of popular applications for the iPhone platform.

Android/Palm Pre. Cephas currently offers the Iron Sheik Soundboard for Google's Android platform. Additionally, the company was recently accepted into the Palm Pre developers program. The company intends to leverage its licenses on new mobile platforms as the licenses allow and as economic opportunities present themselves.

Reporting Status. The company's common stock currently trades on the Pink Sheets. The company intends to remain fully reporting and make application to the OTC Bulletin in the appropriate time period. An inadvertent violation of Rule 6530(e) related only to the date of a certain filings caused the change in trading venue for the company's stock. Cephas will remain audited and will file reports on time while it trades on the Pink Sheets.

The statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws and may be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "potential," "predicts," "projects," "seeks," "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for the Company's future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties including: our dependence on key management and the timely release and significant market acceptance of our products, our ability to raise capital if needed, risks associated with our operations. Other important factors and information are contained in the Company's Annual Report on Form 10-K in the section entitled "Risk Factors," as updated in the Company's Quarterly Reports on Form 10-Q and the Company's other periodic filings with the SEC. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

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