ONTARIO, Calif., Sept. 11, 2007 (PRIME NEWSWIRE) -- SOYO Inc. (OTCBB:SOYO), an innovative provider of computer and consumer electronics products, today announced the resignations of Mr. Paul F. Risberg and Mr. Zhiyang Wu from the Company's Board of Directors, effective September 7, 2007. Mr. Risberg and Mr. Wu resigned from the Board of Directors in order to focus on their respective personal and professional responsibilities.
"We appreciate Mr. Risberg and Mr. Wu's service on our Board of Directors. We have benefited from their guidance and support, and wish them great success and best wishes for the future," said Ming Chok, CEO of SOYO Inc.
Mr. Risberg was appointed to the SOYO Board of Directors as a non-exclusive director and Audit Committee Member in October 2005. He will continue to serve as President of Altenergy Inc., an alternative energy service company that retails and installs energy equipment.
Mr. Wu was also appointed to the SOYO Board of Directors in October 2005, as a non-exclusive director and Compensation Committee Member. Mr. Wu will continue to oversee CEC TeleCom and serve as Vice Chairman of Qiao Xing Universal Telephone Inc., one of China's largest manufacturers and distributors of telecommunication products.
About SOYO Inc.
SOYO Group Inc. is an innovative provider of consumer electronics such as, LCD Monitors, LCD Televisions, Bluetooth, Portable Storage, LCD Furniture and broadband telecommunications products and services. Headquartered in Ontario, California, with additional sales offices in South America, SOYO Group sells its products through an extensive network of authorized distributors, resellers, system integrators, VARs, retailers, mail-order catalogs and e-tailers. Products are sold under the SOYO, Dragon, Onyx, Dymond, Honeywell, Le Vello, and Prive brand names. For more information, please visit http://www.soyogroup.com.
"Safe Harbor" Statement
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the company. The words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions, are intended to identify forward-looking statements within the meaning of the Securities Act of 1933, as amended. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the availability of components and successful production of the company's products, general acceptance of the company's products and technologies, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, general economic risks and uncertainties, and various other information detailed from time to time in the company's filings with the United States Securities and Exchange Commission. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Please refer to the company's filings at http://www.sec.gov.
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