NEW YORK, Feb. 9, 2009 (GLOBE NEWSWIRE) -- China Digital Animation Development, Inc. (OTCBB:CHDA) today announced that it has filed a certificate of amendment to its certificate of incorporation that (1) changed the name of the Corporation from "Maui General Store, Inc." to "China Digital Animation Development, Inc."; (2) effected a reverse split of the Corporation's common stock in a ratio of one-for-twenty five; (3) reduced the authorized common stock to 100 million shares; and (4) authorized a new class of stock consisting of five million "blank check" preferred shares.
The amendment was filed and became effective on January 30, 2009. The Company's common stock began trading on the OTC Bulletin Board under a new symbol -- CHDA -- at the market open on Feb 5, 2009.
CEO and Chairman Qiang Fu commented: "This name change better reflects the business we are in -- an animation business that includes education and production works. We are confident that our company can achieve a significant position in its market, even now amid the current tough and volatile macro-environment. We believe these changes to our name and capitalization are in the best interest of our shareholders, and will help the Company move to the higher level position."
About China Digital Animation Development, Inc.
China Digital Animation Development Company is the first China-based digital animation development company publicly listed in the U.S. It currently operates in three locations: Harbin and Beijing in The People's Republic of China and New York in the U.S. Harbin is one of the largest animation development centers in China. The Company operates an animation development skills training center, and is engaged in animation data post-stage processing, animation outsourcing, and information transmission services. The training center, located in Harbin, China, providing its students with different kinds of animation skill training programs such as Motion Graphics, Product Modeling, Character Animation, etc. Graduating students earn an Associate Degree diploma. At the same time, the Company will provide the job placement to its graduates throughout its own workplace or its extensive network in the industry, such as advertising companies, film production studios, and game production studios. The Company's technical team has extensive experience in animation production and outsourcing. Its customers came from Beijing, Shanghai, Shenzhen, Hollywood, etc.