BEIJING -- 11/03/09 --
MOQIZONE HOLDING CORPORATION (OTCBB: MOQZ) a
leading digital entertainment delivery platform company that delivers last
mile connectivity to Internet Cafés across China via its proprietary
MoqiZone WiMax Network, announced today that Paul Lu has been appointed as
a new board member.
Mr. Lu is a certified public accountant in the United States. He is also an
independent director of Astro Corp., a company listed on the Taiwan Stock
Exchange under the stock code: 3064. In addition, Mr. Lu is a director of
Bright International Group Limited, a company listed on the Hong Kong Stock
Exchange under the stock code: 1163; the chairman and director of Green
Power (Baoding) Limited, a business involved in renewable energy; and, he
is a managing director of Twin Oaks Capital LLC. Previously, Mr. Lu also
worked as an audit manager at the US firm Koo Chow & Co, CPA. Accordingly,
Mr. Lu has extensive experience in accounting and financial management.
Mr. Lu holds a Master in Business Administration degree from California
State University at Los Angeles.
Mr. Lawrence Cheung, Chief Executive Officer of the Company, welcomed Mr.
Lu, who was appointed by unanimous consent. "Mr. Lu will bring additional
experience and expertise in many facets to our Board, which will be
essential to helping our company stay focused and attain our stated growth
objectives, while also ensuring that strict financial controls and
oversight is maintained. Additionally, the intercultural skill set that our
Board will now possess will enhance our relationships within the US capital
markets and with our new institutional investors."
About MoqiZone
MobiZone Holdings Limited ("MobiZone"), a Hong Kong subsidiary of MoqiZone
Holding Corporation, is a leading digital entertainment delivery platform
company that delivers last mile connectivity to Internet Cafés across China
via its proprietary MoqiZone WiMax Network. The MoqiZone WiMax Network
affords the Company with a sustainable, low-cost competitive advantage for
providing last mile connectivity for Internet Cafés, while increasing the
net economic benefit to the primary value chain participants -- the content
providers and the Internet Cafés. The MoqiZone WiMax Network is currently
being deployed in Beijing, Shenzhen & Chengdu in Sichuan; the Company
expects to deploy the Network in 12 additional cities, which provides a
market of approximately 12,000 Internet Cafés, within the next twenty-four
months.
FORWARD-LOOKING STATEMENTS
This release contains certain "forward-looking statements" relating to the
business of MoqiZone, which can be identified by the use of forward-looking
terminology such as "believes, expects" or similar expressions. Such
forward-looking statements involve known and unknown risks and
uncertainties, including all business uncertainties relating to reliance on
a limited number of customers, market demand, cyclical nature of our
markets, reliance on key personnel, future capital requirements,
competition in general and other factors that may cause actual results to
be materially different from those described herein as anticipated,
believed, estimated or expected. Certain of these risks and uncertainties
are or will be described in greater detail in our filings with the
Securities and Exchange Commission. These forward-looking statements are
based on MoqiZone's current expectations and beliefs concerning future
developments and their potential effects on the company. There can be no
assurance that future developments affecting MoqiZone will be those
anticipated by MoqiZone. These forward-looking statements involve a number
of risks, uncertainties (some of which are beyond the control of the
Company) or other assumptions that may cause actual results or performance
to be materially different from those expressed or implied by such
forward-looking statements. MoqiZone undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required under
applicable securities laws.
CONTACT:
MoqiZone Holding Corporation
For China:
Lawrence Cheung
+86 13918139797
For Hong Kong:
Benjamin Chan
+852 91622883
TriPoint Capital Advisors
Mark Elenowitz
(917) 512-0822