SOURCE: Zoom Technologies

Zoom Technologies

March 30, 2011 12:51 ET

Zoom Technologies Responds to Error in Seeking Alpha Article

BEIJING--(Marketwire - March 30, 2011) -  Zoom Technologies, Inc. (NASDAQ: ZOOM) a leading China-based manufacturer of mobile phones and other mobile electronic products, responded today to an article published by Seeking Alpha on March 30, 2011 and pointed out a significant error that the Company believes mislead investors.

The Seeking Alpha article inaccurately states the name of the Company's auditor. Zoom's auditor is Goldman Kurland Mohidin, LLP of Encino, California. 

Mr. Anthony Chan, Chief Financial Officer of Zoom Technologies, commented, "It is unfortunate that Seeking Alpha chose to include Zoom Technologies in an article that highlights Chinese small-cap companies accused of fraud and whose stocks have been halted by the NASDAQ OMX. We are proud of our institutional shareholder presence and welcome our shareholders and other prominent institutional investors and investment bankers to visit our headquarters and R&D facilities in Beijing, as well as our manufacturing facilities in Tianjin to conduct their own due diligence."

About Zoom Technologies, Inc.
Zoom Technologies is a holding company with subsidiaries that engage in the manufacturing, research and development, and sale of electronic and telecommunication products for 3rd generation mobile phones, wireless communication circuitry, and related software products. Zoom Technologies' subsidiary, Jiangsu Leimone, owns a majority stake of TCB Digital, which offers highly customized and high quality Electronic Manufacturing Service (EMS) for Original Equipment Manufacturer (OEM) customers and also designs and manufactures its own brand of mobile phones under the Leimone brand. For information please visit us at www.zoom.com

Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" that involve risks and uncertainties. These include statements about our expectations, plans, objectives, assumptions or future events in which the outcome cannot be assured. You should not place undue reliance on these forward-looking statements. Information concerning factors that could cause our actual results to differ materially from these forward-looking statements can be found in our periodic reports filed with the Securities and Exchange Commission. We undertake no obligation to publicly release revisions to these forward-looking statements to reflect future events or circumstances or reflect the occurrence of unanticipated events.

Contact Information

  • Investor Contact:
    Joseph Villalta
    The Ruth Group
    +1 646-536-7003
    Email Contact

    Media Contact:
    Jason Rando
    The Ruth Group
    +1-646-536-7025
    Email Contact