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TLAN has news out this morning

Talent Alliance Announces LOI to Acquire Minority Interest in HNLY Technology Co, Beijing

AUSTIN, TX -- (Marketwire)
05/11/10
Talent Alliance, Inc. (PINKSHEETS: TLAN) today announced that it has signed a non-binding letter of intent with Hua Neng Long Yuan Technology Company Beijing, Ltd. ("HNLY") to acquire a minority stake in the company. HNLY is a privately held electronics and software distributor in Beijing, China. HNLY was established in 1992 and has offices throughout greater China.

Under the terms of the Agreement, the Company will issue stock valued at $500,000 and a deferred cash payment in the amount of $70,000 for the acquisition. The Company will issue shares of restricted stock to the seller at closing, and the deferred cash payments will be made when certain functional milestones have been met.

Completion of the acquisition is subject to the satisfaction of several conditions, including, without limitation, the execution of a definitive acquisition agreement, the satisfactory completion of due diligence, compliance with applicable laws, and other conditions. The LOI provides for an exclusivity period.

About Talent Alliance:

Based in Austin, Texas and with operations in Shanghai, China -- Talent Alliance, Inc. (http://www.talentallianceintl.com) provides talent management and talent acquisition technology applications and resources in the United States and The People's Republic of China. Talent Alliance provides world class permanent placement recruiting, contingent staffing, employee leasing and benefits management services, and proprietary talent acquisition technology solutions to small, medium sized businesses and multi-national corporations in the United States and the People's Republic of China. The company currently has offices in Texas, Florida, Missouri, California, Shanghai and Beijing, China.

About HNLY:

Hua Neng Long Yuan Technology Company Beijing, Ltd. is headquartered in Beijing, China, and has operations throughout greater China. The Company was established in 1992 and maintains distributor relationships with some of the world's largest hardware and software companies. HNLY is a market leader in the distribution of both hardware and software solutions in China.