ASNAP ALERT check out CHMS.OB
this company has 5million in the kitty
there making $$$$ up a million
it will me more by next Q
this company looks so positive
VANCOUVER, B.C., Aug. 16 /PRNewswire-FirstCall/ -- China Mobility Solutions Inc. (OTC Bulletin Board: CHMS - News) is pleased to announce its second quarter financial statements for the period ended June 30, 2005. All figures are in US dollars.
The Company achieved revenues of $1,164,618 in the second quarter of 2005, compared to $62,769 for the same period in 2004. CHMS revenues are from net sales of mobile marketing services in China and education courses offered in Canada. During the Quarter, the Company's revenues from the two businesses were as follows: $1,133,972 from mobile marketing services and $30, 646 from education.
CHMS controls 51% of the mobile marketing services company and acquired this interest subsequent to Q2 2004, which explains the year-over-year discrepancy in revenue. While revenue and costs of revenue have been consolidated for reporting purposes, a 49% minority interest in the mobile marketing business exists, reducing the net income by 49%.
At the quarter ended June 30, 2005, the Company had $5,843,782 in cash.
Company President Angela Du noted that not only is CHMS in a strong cash position which will fund future growth, but the Company strategically positioned for growth in Q2. "We signed a strategic partnership with China Unicom, the world's largest CDMA and third largest GSM carrier, for its Uni-portal, which gives us access to 353 million wireless subscribers in China. China Mobility also launched a major marketing initiative in six Chinese cities at the end of Q2. We are already seeing growth-dividends from our initiatives."
Ms. Du further commented that the China market keeps growing, giving the significant post-IPO price increase for the Chinese search engine Baidu (symbol BIDU) as an example. "The growing economy and the recent appreciation in China's currency will have a positive effect on China Mobility's financials."
About China Mobility Solutions Inc.
China Mobility Solutions (OTC Bulletin Board: CHMS - News) is a leading provider of mobile business solutions to many diverse corporations across China. With its rapidly growing client base of more than 20,000 Chinese companies and access to a further 500,000 companies through its proprietary database, China Mobility Solutions is well positioned to become one of the largest providers of mobile business solutions in China. The Company has proprietary profit-sharing contracts with China's largest telecommunications companies -- China Mobile, China Unicom and China Telecom. Analysts predict that by 2007, China will have more than 500 million mobile phones in operation. In 2003, more than 200 billion text messages were sent through mobile phones in China.
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http://finance.yahoo.com/q/bc?s=CHMS.OB&t=5d&l=on&z=m&q=l&c=
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