SOURCE: Paperclip Software, Inc.

March 28, 2007 16:20 ET

Paperclip Software, Inc. Effects Name Change and Reverse Stock Split

NEW YORK, NY -- (MARKET WIRE) -- March 28, 2007 -- Paperclip Software, Inc. (OTCBB: PCLP) (the "Company") announced today that, effective Thursday, March 29, 2007, the Company will change its name to "China DongSheng International, Inc." and begin trading under its new symbol (OTCBB: CDSG). In addition, the Company announced a 1:37 reverse split of its outstanding common shares and an increase in the number of authorized shares of common stock to 100,000,000 shares, $0.00001 par value. The reverse split and the increase in authorized shares will become effective on March 29, 2007 as well. All actions were approved by the Board of Directors and the majority shareholders of the Company, and disclosed in the Company's information statement previously mailed to the shareholders.

China DongSheng International, Inc., through its 100%-owned subsidiary, Jilin Dongsheng Weiye Science and Technology Co., Ltd, is engaged in the development and manufacture of nutritional supplements and personal care products domestically in China. It sells these products through a network marketing system of retail outlets in twenty-six provinces throughout China.

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

Contact Information

  • Contact:
    Peter D. Zhou
    212-232-0120 x228