Priority Aviation Inc (PJET)

[DarthTrader3]

FORT WORTH, TX, May 03, 2011 (MARKETWIRE via COMTEX) -- NuMobile, Inc. (PINKSHEETS: NUBL) today announced entering into a letter of intent (LOI) to acquire a subsidiary operation of China Crescent Enterprises, Inc. (PINKSHEETS: CCTR). The target China Crescent subsidiary provides original design and manufacturing services primarily within the mobile communications market sector. The subsidiary contributed approximately $22 million in sales to China Crescent's overall $78 million in revenue reported for 2010. The China Crescent subsidiary is located in Shenzhen, China. Today's announced LOI is the next step in negotiations between the two companies, which commenced last week in a Hong Kong. The anticipated structure of the acquisition is intended to position NuMobile to execute one to two more acquisitions during the next year in order to pursue a national exchange listing. NuMobile plans to present a more detailed overview of the strategy in a Webcast presentation scheduled for release next Tuesday, May 10th.