Chairman Loans $250,000 for Quick Expansion
COOPER CITY, FL -- (MARKET WIRE) -- 06/29/06 -- China Direct Trading Corporation (OTCBB: CHDT) today announced that it is loaning $250,000 to Complete Power
Solutions (CPS) to finance the opening of two new Complete Power Solutions
subsidiaries to be located in Miami and Naples, Florida. Chairman and CEO,
Howard Ullman, has loaned the company the funds at a 7% interest rate in
order to quickly launch these companies within the next 30 to 60 days.
Chairman Loans $250,000 for Quick Expansion
COOPER CITY, FL -- (MARKET WIRE) -- 06/29/06 --
China Direct will control 60% percent of Complete Power of Miami and 60%
percent of Complete Power of Naples, and 40% ownership will go to the
licensees. The new subsidiaries will purchase all generators, CPS'
proprietary STC rated preformed slabs, and will also be able to offer
their licensees CPS' heralded back-office support infrastructure, including
permit package preparation and engineering. CHDT will consolidate 100% of
all financials of its subsidiaries.
CPS (www.completepower247.com) is a majority-owned China Direct subsidiary
engaged in turnkey solutions for standby commercial and residential power
generation. For more information on becoming a licensee contact Rich
Schineller at 941-918-1913 or rich@chdt.us
Howard Ullman, China Direct CEO, said, "Complete Power is on track to
generate $20 million in revenue this year in just two counties of South
Florida. Complete Power Miami will expand our reach from South Broward to
Dade and Monroe counties and Complete Power Naples will cover the Florida
West Coast from Naples to Ft. Meyers. We have developed a solid and proven
sales model and we will continue to expand our operations throughout the
state of Florida as well as other states. We are enthused with the
opportunity to invest in CPS to expand their growth and also enjoy the
economies of scale and the dynamics inherent in an expansion at this
level."
About China Direct:
China Direct (www.chdt.us) is a holding company engaged through its
operating subsidiaries in the following business lines: Overseas Building
Supply (OBS) is engaged in manufacturing, distribution and logistics of
building materials including but not limited to generators, roof tiles,
interior doors, and insulation materials. CPS (www.completepower247.com) is
a majority-owned subsidiary engaged in turnkey solutions for standby
commercial and residential power generation. Souvenir Direct Inc. (SDI)
(www.souvenirdirect.com) is engaged in product development, manufacturing,
distribution, logistics and product placement into mass retail of souvenir
and gift items in 29 countries. None of the web site URLs listed in this
press release are incorporated into or are part of this press release.
FORWARD-LOOKING STATEMENTS: This press release, including the financial
information that follows, contains "forward-looking statements" as that
term is defined in the Private Securities Litigation Reform Act of 1995.
These statements are based on China Direct's and its subsidiaries'
managements' current expectations and assumptions, and involve risks and
uncertainties. Such expectations and assumptions may prove to be faulty or
incorrect. Actual results may differ materially from those anticipated
results set forth in the statements. The forward-looking statements may
include statements regarding consumer demand, product orders, product
development, product potential or financial performance. No forward-looking
statement can be guaranteed, and actual results may differ materially from
those projected. China Direct undertakes no obligation to publicly update
any forward-looking statement, whether as a result of new information,
future events, or otherwise. Forward-looking statements in this press
release and risks associated with any investment in China Direct, which is
a "penny stock" company, should be evaluated together with the many
uncertainties that affect our business, particularly those mentioned in the
cautionary statements in current and future China Direct SEC Filings, which
statements we incorporate by reference herein.
Contact:
Rich Schineller
941.918.1913
rich@chdt.us
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