Sinobull highlights from the CEO's newsletter (of HRCT):
Sinobull Financial Group continues to make progress in post-merger integration and our subsidiaries are already cross-selling products using each other's sales force. A case in point is the recent launch of the MetaStock product in Shanghai which is a result of collaboration between Financial Telecom and Sinobull Information. Our popular financial portal SinoBull.com is generating over 30 million visitors monthly and we are planning to utilize this exposure more aggressively to market the products and services of our subsidiaries.
At the recent Shanghai Securex financial trade show the local bank branches of the Industrial and Commercial Bank of China, the Bank of Communications, and the Agricultural Bank of China all were showing their electronic banking systems embedded with our SinoBull quotation service.
We developed many direct sales leads from bank officials, brokerage firms, and professional investors for our Chinese version of MetaStock and our Sinobull Wireless PDA. Sinobull's PDA bundles the advanced GPRS network application from China Mobile Shanghai, and the top Compaq PDA model, to offer the fastest mobile streaming quotation service in China. This product also provides a plug-in for institutions to download their trading systems into our PDA. In addition, we are currently in talks with China Mobile Shanghai for a joint promotion.
Sinobull's Data services also generated significant interest and after the show we conducted a number of discussions with TV stations, both in Shanghai and Beijing, on the provision of HK stock quotes for their financial TV programs. We also plan to participate in the upcoming nation-wide seminar to be attended by hundreds of China TV channels this summer (possibly in Zhuhai) and to present the Sinobull Data feed to all the attending TV channels.
The status of the Sinobull market listing is progressing and we are replying to a last minute request from the SEC for additional audit information. This is a routine request and we are currently waiting for the group's audit to be completed for submission to the SEC. Once that information is filed and cleared, we expect the reverse merger of Sinobull to take place shortly after. Our CFO and accounting firm are working diligently to bring this to a timely resolution. And, there is a silver lining to this unexpected delay as Sinobull companies have signed additional business in the past few weeks and this should add to any listing valuation.
M&M Man
