| China Shandong Industries, Inc. (OTCBB: CSNH), a leading producer and global marketer of straw-wicker productsand furniture, is pleased to announce that it has closed a reverseacquisition. The new company has changed its ticker symbol to "CSNH" and completed afifteen-for-one forward stock split effective January 4. Following thestock split, the total number of common shares issued and outstanding hasincreased from 1,715,000 to 25,725,000. The Company is led by Li Jinliang, Chief Executive Officer. Mr. LiJinliang, 50, founded Shandong Industries in 2000. He has over 30 yearsexperience in sales and production of handicrafts and furniture, andmajored in Management at Shandong Agricultural University, China. For the fiscal audited year ended December 31, 2008, Shandong Industriesgenerated revenue of $43.3 million and net income of $5.9 million. Forperiod ended December 31, 2008, the Company reported total shareholdersequity of $24.7 million and working capital of $33.4 million. For theunaudited replica hublot watches twelve months ended June 30, 2009, revenue grew to $53.7 millionand net income grew to $7.7 million. For period ended June 30, 2008, theCompany reported total shareholders equity of $29.3 million and workingcapital of $34.7 million. Audited financials for the year ended December31, 2008, and unaudited financials for the six months ended June 30, 2009,can be found in its SEC report filed on Form 8-K dated November 6, 2009. Prior to its reverse merger, the company replica breitling watches traded under the symbol "MBPI"reflecting the underlying shell company Mobile Presence Technologies, Inc. About China Shandong Industries, Inc. Based in Shandong Province, China, China Shandong Industries believes it isa leading producer and global marketer of straw-wicker products, woodencrafts and solid wooden furniture. It employs approximately 1,500employees primarily at its factory and headquarters campus covering 1.2million square feet on 49 acres of property. The Company sells 20,000different products through over 300 distributors and retailers in more than30 countries in North America, Middle East, Europe and Asia. Its productsare sold by well known mass market retailers including Wal-Mart, ABMGroup, Argos Limited, IKEA, Zara and others. Safe Harbor This news release includes forward-looking statements made pursuant to thesafe harbor provisions of the Private Securities Litigation Reform Act of1995. While these statements are made to convey Company progress, businessopportunities and growth prospects, readers are cautioned that suchforward-looking statements represent management's opinion. Whereasmanagement believes such representations to be true and accurate based oninformation and data available to the company at this time, actual resultsmay differ materially and are subject to risk and uncertainties. Factorsthat may cause actual results to differ include without limitation:dependence on key personnel and partners; raw materials prices; currencyfluctuations; an uncertain regulatory climate in China; economicconditions; consumer demand and competition. Additional considerations and risk factors are set forth in our Nov. 6,2009 report filed on Form 8-K with the SEC and other filings. Readers arecautioned not to place undue reliance upon these forward-lookingstatements; Clip on charms historical information is not an indicator of futureperformance. The Company undertakes no obligation to update publicly anyforward-looking statements. Add to Digg Bookmark with del.icio.us |
