DALLAS, TX--(Marketwire - May 15, 2009) - China Crescent Enterprises, Inc. (
OTCBB:
CCTR)
(
OTCBB:
CCSE) announced today that the Company was listed on the Regulation
SHO "threshold security" list yesterday May 14, 2009 (link:
http://www.nasdaqtrader.com/trader.aspx?id=RegSHOThreshold). Management
anticipates a possible buy-in that could result in an increased share
price. As defined in Rule 203(c)(6) of Regulation SHO, a "threshold
security" is any equity security of any issuer that is registered under
Section 12 of the Exchange Act, or that is required to file reports under
Section 15(d) of the Exchange Act (commonly referred to as reporting
securities), where, for five consecutive settlement days:
-- There are aggregate fails to deliver at a registered clearing agency
of 10,000 shares or more per security;
-- The level of fails is equal to at least one-half of one percent of the
issuer's total shares outstanding; and
-- The security is included on a list published by a self-regulatory
organization (SRO).
A security ceases to be a threshold security if it does not exceed the
specified level of fails for five consecutive settlement days. The Company
will be available to answer questions regarding CCTR's listing on the
Regulation SHO list and questions regarding possible short sales and
buy-ins to cover possible short sales.
Ticker Symbol Change to CCTR
Earlier this week, the Company's corporate ticker symbol changed from
(
OTCBB:
CCSE) to "CCTR." The corporate ticker change has been executed in
conjunction with a publicly disclosed plan to reduce the number of issued
and outstanding common shares and to limit the issue of additional shares
in the future.
China Crescent has received many shareholder questions concerning Company
shares they hold in various on-line brokerage accounts such as
TDAmeritrade, E*Trade, Schwab, and Scottrade. Due to the Company's ticker
symbol change from "CCSE" to "CCTR" this week, shareholders are encouraged
to contact their on-line brokerage services directly to discuss their
access to their shares.
China Crescent CCTR Ticker and PPS Growth Webcast
China Crescent has released an on-demand Webcast on the Company's strategy
to gain share price traction and improve the potential return on investment
for shareholders with a target price per share of $0.30. The Company
reported over $40 million in revenue for 2008 with more than $600,000 in
net income, while the share price resulted in a market capitalization that
amounted to a fraction of the Company's annual earnings. A number of
publicly traded technology service companies today have share prices that
reflect many times earnings, even in the current economic environment. The
Webcast is now available for review on the Company website. A link to the
Webcast titled 'China Crescent CCTR Ticker and PPS Growth (May 13, 2009)'
is available on the Company website under Current Events and Communications
at:
http://www.newmarkettechnology.com/about-newmarket-china.htm. For
assistance accessing or listening to the Webcast, please email
ir@chinacrescent.com or call 214-722-3065.
Corporate E-mail Updates
To be added to China Crescent's e-mail database to receive company updates
or to obtain more information on the Company, please send an e-mail to
ir@chinacrescent.com or call 214-722-3065.
About China Crescent Enterprises, Inc. (
http://www.chinacrescent.com/)
China Crescent Enterprises, Inc. is a technology leader in the rapidly
developing Chinese market specializing today in software engineering, high
quality software development and digital multimedia outsourcing services
delivered to customers globally. At the same time, the firm is a systems
integrator and value added reseller of major global hardware brands in the
Chinese domestic market.
Headquartered in Dallas with operations in Shanghai and Beijing, China
Crescent bridges the gap between Western and Eastern business cultures to
assist western clients in realizing the advantages of the high quality, low
cost technology products and services available from China. China Crescent
also assists Western clients in localizing products and services to realize
the tremendous growth potential available by expanding into the Chinese
Market.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995
This press release contains forward-looking statements that involve risks
and uncertainties. The statements in this release are forward-looking
statements that are made pursuant to safe harbor provision of the Private
Securities Litigation Reform Act of 1995. Actual results, events and
performance could vary materially from those contemplated by these
forward-looking statements. These statements involve known and unknown
risks and uncertainties, which may cause China Crescent's actual results in
future periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include, among
other things, product demand and market competition. You should
independently investigate and fully understand all risks before making
investment decisions.
Contact Information: Contact:
China Crescent Enterprises, Inc.
ir@chinacrescent.com
214-722-3065