Tuesday, March 01, 2005 12:02:38 PM
Monday February 28, 9:55 am ET
Managements Sees Continued Growth and Profitability in Fiscal 2005
HONG KONG, Feb. 28 /Xinhua-PRNewswire/ -- Telecom Communications, Inc. (OTC Bulletin Board: TCOM - News) the Total Solutions Provider, is offering Integrated Communications Network Solutions and Internet Content Service in universal voice, video, data web and mobile communication for interactive media applications. The Company today announced results and detailed strategies for growth at its annual shareholders' meeting on Feb. 28th 2005 in TsimShaTsui, Hong Kong.
Voting Results of the Annual Meeting of the Stockholders
Quorum
There were 70,188,000 common shares issued and outstanding, and entitled to vote as of January 28,2005, the record date. There were 68,463,159 shares, or 97.54% of the shares outstanding, represented either in person or by proxy at the meeting, and were voted on proposals 2 and 3. There were 48,441,818 (69.02% of outstanding shares) were voted on proposal 1.
PROPOSAL 1: Proposal to approve the reincorporation of the Company in the
State of Delaware and adopt a new charter and bylaws as part of the merger
Shares Shares Shares
FOR % AGAINST % ABSTAIN %
48,376,923 99.87 61,895 0.13 3,000
Note: 48,441,818 (69.02% of outstanding shares) were voted on proposal 1.
PROPOSAL 2: Proposal to authorize the Board of Directors to effectuate a reverse split of the outstanding shares of common stock on a two to one basis:
Shares Shares Shares
FOR % AGAINST % ABSTAIN %
30,401,604 44.41 38,049,550 55.57 12,100 0.02
PROPOSAL 3: Proposal to elect five persons nominated by the Board of Directors to serve as Directors as indicated below:
Shares Shares Shares
FOR % AGAINST % ABSTAIN %
Guosheng Liu 68,426,809 99.95 36,345 0.05 100
Lijian Deng 68,427,709 99.95 35,445 0.05 100
Shanhe Yang 68,427,709 99.95 35,445 0.05 100
Gary Lam 68,427,709 99.95 35,445 0.05 100
Lirong Liu 68,426,809 99.95 36,345 0.05 100
The Company announced that a majority of shareholders voted for approved Proposal One (to approve the reincorporation of the Company in the State of Delaware and adopt a new charter and bylaws as part of the merger.) and approved Proposal Three (to elect five persons nominated by the Board of Directors to serve as Directors.) Shareholders did not approve Proposal Two (to authorize the Board of Directors to effectuate a reverse split of the outstanding shares of common stock on a two to one basis.)
The Chairman, in a statement issued, said: "The continuing support of the overwhelming number of shareholders reflects investor and shareholders' strong interest and confidence in the current management team. The company has, since last year, further developed its business, its products and systems in the new and exciting field of 'SEO4Mobile' technologies, as well as continued to build the business of all aspects of Total Solutions Systems, Search Engine in the ever growing wireless communications and Internet Industry. Our corporate plans, continues to be well executed, and we are making positive progress in all aspects of the business and its ongoing development. We look forward to a good oncoming year in 2005."
"Looking ahead, we believe that the improvements we've made during fiscal year 2004 have positioned our company for long-term, sustainable profitability and growth. We're going to continue to make improvements during fiscal year 2005 and we also expect to deliver profitable results for our shareholders."
# Basic product line: Total Solutions Systems ASP sales This fixed monthly fees model is basic of revenue. This products line
sales growth to be stronger in the first half of fiscal 2005, with the second
half showing more typical single-digit growth in line with our longer-term
business view.
We are increasing provide contents value added services to existing customers.
# The revenue growth product lines, SEO4Mobile and relating services. This line, the growth in any individual quarter will be based solely on
the size of new business in that period.
# We will launch and marketing new products SMS/MMS Auction Manager and MoDirect System during March to May.
MoDirect is intended to allow wireless and web publishers to SEO4Mobile and optimize advertising units that directly interact with the customer, such as user registrations, user logins, casual search, download and animations plays. MoDirect will be used throughout the AdMaxB2Search workflow platform on web basis, as well as through its extended network of Total Solutions ASP partners. SMS/MMS Auction Manager System not only provides this service to merchant ends but also the consumers end user of mobile phone, as well as all buy and sales active listing on an interactive MMS interface used by SEO4Mobile to manage and real time buy/sales trade. In addition, all integration with the Total Solutions (SMS/MMS call center CRM system and Information Manager System) and the SEO4Mobile partners of Alpha. Their register users to bid with a SEO4Mobile searching are entered into the database via the SMS/MMS Auction Manager Web interface (Web registration is also available). This process also automatically checks the customer's credit history so that delivery options can be adapted accordingly.
* Will increase manpower in membership services only if value added services business exceeds our capacity.
* Increasing CAPEX spending in computer system servers hardware and software to support new assets to replace older equipment and improve productivity.
"We believe that our progress is on track to deliver genuine value to our long-term shareholders and to those who will choose to become holders of TCOM."
"Here is a summary of how we are creating value:
* TCOM is focused on improving performance and providing quality service to customers.
* TCOM has a profitable business model and process in place to manage it.
* Managements is aggressively working the sales and marketing fundamentals of growth:
* TCOM is achieving a double-digit growth in content value added services with gross profit margins increasing as percentage of sales."
"We are pleased with our execution to date and are passionate about executing our strategy for growth in fiscal 2005."
About Telecom Communications, Inc.
Telecom Communications, Inc. is a Total Solutions Provider that offers Integrated Communications Network Solutions and Internet Content Service in universal voice, video, data web and mobile communications for interactive media applications, technology and content leaders in interactive multimedia communications. It develops, markets and sells a universal media software solution for enterprise-wide deployment of integrated voice, video, data web and mobile communications and media applications.
Telecom Communications, Inc. does business in Asia via its wholly owned subsidiaries, Alpha Century Holdings Limited, Huiri Electric (PY) Limited, Arran Services Limited and IC Star MMS, Limited (http://www.ICStarMMS.com).
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