MONTREAL, Quebec, May 25, 2004 (PRIMEZONE) -- CHINA XIN NETWORK MEDIA CORP. (OTCBB:CXIN:) The company balance sheet has been strengthened as a result of a significant reduction in liabilities. On December 31, 2003 liabilities were $1,345,149. Today the company stands virtually debt-free, at $38,463, an impressive reduction of 97.1%. This directly confirms the company's ability to persist with the execution of its business model by enhancing the capacity to raise additional capital with terms and conditions in our favor.
Management's view is the company's financial statements, which reflect a material improvement in the financial performance of the company, demand recognition and respect, proving actions speak louder than words.
Management would like to reiterate our philosophy of increased overall financial transparency to provide investors with the disclosure necessary to evaluate the company and to make informed investment decisions. Our goal is to improve investors' understanding of the company's financial condition by providing the context within which the company's financial statements should be analyzed.
Mr. Kerry Schacter, B. Admin., CIM, Independent Director and Financial Advisor of CXN Media/Bio-Tracking commented, "A clean, strong balance sheet goes a long way to restore investor confidence. By enabling investors to see the company through the eyes of management, we are putting our valued investors in the driver's seat."
Chairman, President, and CEO Mr. Michael Tremis voiced, "I continue to demonstrate my commitment to deliver on my promise to enhance shareholder value, paving the way for sustainable revenue and earnings growth." "Further my dedication is unchallengeable," Mr. Michael Tremis added with conviction.
Management invites any interested shareholder or investor wishing to submit written comments on any aspect of the company to do so by sending your e-mails directly to company President Mr. Michael Tremis.
ABOUT BIO-TRACKING SECURITY INC.
CHINA XIN NETWORK MEDIA CORPORATION acquired BIO-TRACKING SECURITY INC. of Montreal, Canada, in December 2003. Bio-Tracking designs and manufactures Vehicle/Asset Tracking and Security Technology, based on a Patent Pending, Wireless Interconnection Methods, Real-time Tracking, Driver Privilege Control, Remote Shutdown, Lock/Unlock, GPS/Inertial Navigation, Biometric Fingerprint Identification, Voice Communication and Spread Spectrum Communication.
SAFE HARBOR STATEMENT
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties including, without limitation, demand and competition for the Company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the Company to generate cash flow from its operations and the ability of the Company to manage its operations.