Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent (CCTR) Short Squeeze PPS Increase Potential Continues With Recent $0.0289 PPS on High Trading Volume Compared to Recent $0.0138
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - March 15, 2010) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
announced today that the Company remains listed on the Regulation SHO
"threshold security" list. The current listing initiated on March 8, 2010.
SEC Regulation SHO targets abusive naked short selling by reducing failure
to deliver securities and by limiting the time in which a broker can permit
failures to deliver. Management anticipates possible buy-in pressure, in
conjunction with the listing, could result in an increased price per share
(PPS). China Crescent's PPS recently reached a high 100% above the current
share price. On February 24th, the PPS reached $0.0289 on high trading
volume compared to the most recent close at $0.0138.
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About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent is a systems integration service provider that markets
technology outsourcing services in China including the sale and service of
brand name technologies such as Microsoft, Oracle, Cisco, IBM, HP and Dell.
Following a recent strategic acquisition, the Company has expanded its
business line to include original design manufacturing (ODM). China
Crescent reported over $40 million in profitable revenue in 2008. The
Company has reported record profits through the first 9 months of 2009 and
anticipates reporting record profit in the 2009 annual report. Management
has set a goal of reaching $100 million in revenue in 2010.
Headquartered in Dallas with operations in Shanghai, Shenzhen, Dalian and
Beijing, China Crescent bridges the gap between global business cultures to
assist clients worldwide realize the advantages of the high quality, low
cost technology products and services available from China. China Crescent
also assists clients in localizing products and services to realize the
tremendous growth potential available by expanding into the Chinese Market.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995
This press release contains forward-looking statements that involve risks
and uncertainties. The statements in this release are forward-looking
statements that are made pursuant to safe harbor provision of the Private
Securities Litigation Reform Act of 1995. Actual results, events and
performance could vary materially from those contemplated by these
forward-looking statements. These statements involve known and unknown
risks and uncertainties, which may cause China Crescent's actual results in
future periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include, among
other things, product demand and market competition. You should
independently investigate and fully understand all risks before making
investment decisions.