FORT WORTH, TX--(Marketwire - May 3, 2011) - NuMobile, Inc. (PINKSHEETS: NUBL) today announced entering into a letter of intent (LOI) to acquire a subsidiary operation of China Crescent Enterprises, Inc. (PINKSHEETS: CCTR). The target China Crescent subsidiary provides original design and manufacturing services primarily within the mobile communications market sector. The subsidiary contributed approximately $22 million in sales to China Crescent's overall $78 million in revenue reported for 2010. The China Crescent subsidiary is located in Shenzhen, China. Today's announced LOI is the next step in negotiations between the two companies, which commenced last week in a Hong Kong. The anticipated structure of the acquisition is intended to position NuMobile to execute one to two more acquisitions during the next year in order to pursue a national exchange listing. NuMobile plans to present a more detailed overview of the strategy in a Webcast presentation scheduled for release next Tuesday, May 10th.
NewMarket Technology, Inc. (PINKSHEETS: NWMT), the majority shareholder of China Crescent, has released an on-demand Webcast on its website, www.newmarkettechnology.com, presenting information on NewMarket's updated business strategy for 2011. NewMarket plans to provide more information in the near future on its updated business strategy, to include how the proposed transaction between its subsidiary China Crescent and NuMobile fits into the updated strategy.
About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent (PINKSHEETS: CCTR) 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, Cisco, IBM, HP and Dell. Following a strategic acquisition in 2009, the Company expanded its business line to include original design manufacturing (ODM). Headquartered in Dallas with operations in China, China Crescent reported $78 million in revenue in 2010.
About NuMobile, Inc. (www.numobileinc.com)
NuMobile (PINKSHEETS: NUBL) is building a portfolio of security and software solutions for the global mobile computing and smartphone market. Through a roll-up strategy, NuMobile plans to acquire and develop mobile computing solutions for a variety of applications, including mobile banking, for the global marketplace. The demand for mobile security and software applications is being driven in large part by the growing number of mobile phone sales into emerging economies that currently do not have substantial access to the Internet via desktop computing. Already in North America, the Company has also forged a partnership in the Chinese market and is developing a plan for the emerging economies of Latin America and East Africa. NuMobile is a SEC fully-reporting public company trading on the OTC Markets Group, Inc.'s OTCQB market tier.
"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 NuMobile's or 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.
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