HOHHOT, Inner Mongolia, Nov. 20, 2007 (PRIME NEWSWIRE) -- Gold Horse International, Inc. (formerly known as Speedhaul Holdings, Inc.) (OTCBB:SPEH) released its first quarter results, in a 10-QSB filing with the SEC. Financial results showed revenues topping $9.7 million, net profits of $734,870, and net assets of $19.6 million. The Company's stock symbol change should be announced in the near future.
CFO Adam Wasserman reported: "Total revenues for the three months ended September 30, 2007 were $9,670,769 as compared to total revenues of $6,807,876 for the three months ended September 30, 2006, an increase of $2,862,893 or approximately 42%.
"Gold Horse reported income from operations of $1,198,195 for the three months ended September 30, 2007 as compared to income from operations of $181,584 for the three months ended September 30, 2006."
Mr. Yang Lian Kuan, Chairman and CEO of Gold Horse commented: "As a U.S. public company, we are seriously aware of the importance of performance and forecasts, and we want Gold Horse to be judged by results, not promises. We are pleased with our first quarterly results. Based on the growth in Western China, plus the history and professionalism of our Company, management is confident that the best is yet to come."
About Gold Horse International, Inc.
Gold Horse International, Inc., through its wholly owned subsidiaries Gold Horse International, Inc.(Nevada) and Global Rise International Ltd., controls and operates Inner Mongolia Jin Ma Construction Co., Ltd. ("Jin Ma Construction"), Inner Mongolia Jin Ma Hotel Co., Ltd. ("Jin Ma Hotel") and Inner Mongolia Jin Ma Real Estate Development Co., Ltd. ("Jin Ma Real Estate", and collectively the "Jin Ma Companies"), all based in Hohhot City, the regional capital of Inner Mongolia Autonomous Region in the People's Republic of China. Jin Ma Construction has been providing construction and general contractor services in Hohhot City to both private developers and the local and regional governments since 1980. Jin Ma Hotel owns, operates and manages the Jin Ma Hotel, a full-service two-star hotel located in Hohhot City. Jin Ma Real Estate develops residential and commercial properties in Hohhot City. For more information, visit http://www.GoldHorseInternational.com
Forward-looking Statements
Statements made in this news release may contain forward-looking statements concerning Gold Horse's business operations. The actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, development, market acceptance, competition from existing and new competitors, and various other factors beyond its control. The risks inherent in Gold Horse's business operations are detailed under ``Risk Factors'' in its Current Report on Form 8-K/A filed on July 9, 2007. Gold Horse undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.