Ten &Amp; 10, Inc. To Provide Value Added Services to China’s Mobile Guangzhou Division
Ten & 10, Inc. (PINKSHEETS: TTEN) announced today a key development which will enable them to provide Value Added Services to the 55 million wireless subscribers of China Mobile’s Guangzhou Division through its joint venture with IEC. China Mobile is the largest telecommunications provider in China, and the largest among all the overseas listed Chinese companies on the Hong Kong and New York Stock Exchanges.
As of September 30, 2006, China Mobile reported more than 287 million subscribers and total revenue of $2,126.91 billion RMB Yuan (or approximately $272 billion USD). In the Guangdong Province, served by the Guangzhou Division, there is an estimated 90 million residences. China Mobile provides services to approximately 55 million subscribers within that Province alone.
“The wireless communications industry in China is the largest wireless consumer market in the world. China Mobile is estimated to have over 240 million customers, being the largest telecom carrier in Asia. Our ability to provide value added services to mobile users in this Province and hopefully expand to other markets has the potential to significantly increase revenue and improve shareholder value for both companies. As we are able to secure the financing needed to complete these transactions, it will allow us to seize similar opportunities in China,” stated George Csatary, CFO of Ten & 10.
Value Added Services (VAS) includes services such as interactive gaming, video and ring tones, short message services and other convenient services that can be used and/or delivered via cell phones, PDAs and other mobile and wireless devices. VAS is provided over a basic landline or wireless telecommunications network.
This access to a retail relationship with China Mobile comes by way of the executed joint venture that Ten & 10 has with IEC and a relationship that IEC has with one of the world leading providers of telecommunications equipment and other services to mobile and fixed network operators globally. Last year IEC reported $2.3 million total sales and $256,948 in net profits according to its audited financial statements. Ten & 10 and IEC collectively intends on producing, gathering and supplying value added telecommunications services globally. This venture and opportunity is expected to significantly increase IEC’s revenue and Ten & 10 is projecting that it can generate $100 million in net revenue over the next 10 years as it is able to secure financing.
“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:
The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company’s entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company’s Securities and Exchange Commission filings.
Contact: Jack Eversull Investor Relations The Eversull Group Contact via http://www.marketwire.com/mw/emailprcntct?id=1931655FDF619A38 972-991-1672 (office) 972-991-7359 (fax) Barbara Manui Investor Relations Blue Future P.O. Box 286392 New York, NY 10128 Contact via http://www.marketwire.com/mw/emailprcntct?id=1FC029E2987C1913 212-423-0407
SOURCE: Ten & 10, Inc.
