SOURCE: MoqiZone


November 03, 2009 12:35 ET

MoqiZone Holding Corporation Announces New Board Member

BEIJING--(Marketwire - November 3, 2009) - MOQIZONE HOLDING CORPORATION (OTCBB: MOQZ) a leading digital entertainment delivery platform company that delivers last mile connectivity to Internet Cafés across China via its proprietary MoqiZone WiMax Network, announced today that Paul Lu has been appointed as a new board member.

Mr. Lu is a certified public accountant in the United States. He is also an independent director of Astro Corp., a company listed on the Taiwan Stock Exchange under the stock code: 3064. In addition, Mr. Lu is a director of Bright International Group Limited, a company listed on the Hong Kong Stock Exchange under the stock code: 1163; the chairman and director of Green Power (Baoding) Limited, a business involved in renewable energy; and, he is a managing director of Twin Oaks Capital LLC. Previously, Mr. Lu also worked as an audit manager at the US firm Koo Chow & Co, CPA. Accordingly, Mr. Lu has extensive experience in accounting and financial management. Mr. Lu holds a Master in Business Administration degree from California State University at Los Angeles.

Mr. Lawrence Cheung, Chief Executive Officer of the Company, welcomed Mr. Lu, who was appointed by unanimous consent. "Mr. Lu will bring additional experience and expertise in many facets to our Board, which will be essential to helping our company stay focused and attain our stated growth objectives, while also ensuring that strict financial controls and oversight is maintained. Additionally, the intercultural skill set that our Board will now possess will enhance our relationships within the US capital markets and with our new institutional investors."

About MoqiZone

MobiZone Holdings Limited ("MobiZone"), a Hong Kong subsidiary of MoqiZone Holding Corporation, is a leading digital entertainment delivery platform company that delivers last mile connectivity to Internet Cafés across China via its proprietary MoqiZone WiMax Network. The MoqiZone WiMax Network affords the Company with a sustainable, low-cost competitive advantage for providing last mile connectivity for Internet Cafés, while increasing the net economic benefit to the primary value chain participants -- the content providers and the Internet Cafés. The MoqiZone WiMax Network is currently being deployed in Beijing, Shenzhen & Chengdu in Sichuan; the Company expects to deploy the Network in 12 additional cities, which provides a market of approximately 12,000 Internet Cafés, within the next twenty-four months.


This release contains certain "forward-looking statements" relating to the business of MoqiZone, which can be identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to reliance on a limited number of customers, market demand, cyclical nature of our markets, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on MoqiZone's current expectations and beliefs concerning future developments and their potential effects on the company. There can be no assurance that future developments affecting MoqiZone will be those anticipated by MoqiZone. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. MoqiZone undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Contact Information

    MoqiZone Holding Corporation
    For China:
    Lawrence Cheung
    +86 13918139797

    For Hong Kong:
    Benjamin Chan
    +852 91622883

    TriPoint Capital Advisors
    Mark Elenowitz
    (917) 512-0822