Liberty Alliance Announces 1 for 3.5 Reverse Stock Split and Name Change
July 18 2008 - 12:01AM
PR Newswire (US)
SHENZHEN, China, July 18 /Xinhua-PRNewswire/ -- Liberty Alliance,
Inc. (OTC:LBTI) (BULLETIN BOARD: LBTI) announced today that the
Company's board of directors and stockholders approved a 1-for-3.5
reverse stock split of the Company's outstanding common stock and a
name change to SinoHub, Inc. As a result of the reverse stock
split, every 3.5 shares of the Company's common stock will be
combined into one share of the Company's common stock. The reverse
stock split affects all shares of common stock and stock options of
the Company outstanding as of immediately prior to the effective
time of the reverse stock split. The number of shares of the
Company's common stock currently outstanding is approximately 70
million prior to the reverse stock split and will be reduced to
approximately 20 million after the reverse stock split. Shares of
the Company's common stock will trade on the Over-the-Counter
Bulletin Board under its new trading symbol "SIHI" on a
split-adjusted basis beginning on July 18, 2008. The Company is a
leading electronic components supply chain management (SCM) service
provider. The Company provides SCM services to electronics
manufacturers and component suppliers in the Peoples' Republic of
China. Our professional supply chain management platform integrates
our proprietary, world-class online MIS software system (SinoHub
SCM), logistics service centers located in key
distribution/manufacturing cities in Hong Kong and China, and a one
hundred person strong service team with extensive knowledge in
electronics. "With our brand new 26,500 square foot warehouse in
place in Hong Kong, we are positioned to rapidly expand our
business in the second half of 2008," said Harry Cochran, CEO of
SinoHub, Inc. "The added market recognition and financial strength
we are receiving as a public company in the United States is
helping SinoHub move quickly into a pivotal position in the
electronic component supply chain management services field in
China." About SinoHub SinoHub, Inc. was founded by veteran
entrepreneur Harry Cochran and electronic component industry
veteran Lei Xia to facilitate the electronics revolution in China
by providing world-class services and transparent information
access for all participants in the electronic components supply
chain in China. For more information, please visit our Web site at
http://www.sinohub.com/ . Cautionary Statement Regarding
Forward-Looking Information This press release contains
forward-looking statements within the meaning of the federal
securities laws. Forward-looking statements are statements that are
not historical facts. These statements can be identified by the use
of forward-looking terminology such as "believe," "expect," "may,"
"will," "should," "project," "plan," "seek," "intend," or
"anticipate" or the negative thereof or comparable terminology, and
include discussions of strategy, and statements about industry
trends and the Company's future performance, operations and
products. For more information, please contact: SinoHub, Inc.
Nicole Cheung Tel: +86-755-2601-2481 Email: DATASOURCE: SinoHub,
Inc. CONTACT: SinoHub, Inc., Nicole Cheung, +86-755-2601-2481, or
Web site: http://www.sinohub.com/
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