BOCA RATON, Fla., June 20, 2006 (PRIMEZONE) -- E Mobile Information Technologies, Inc. (Pink Sheets:EMBG) announced today that after the effective date of the reverse split on May 26, 2006, the trading symbol has changed from EMTK to EMBG and the security restructuring has been implemented.
This restructuring effort allows the company to continue its expansion in the online travel, car rental and mobile content market. The three key components to our success are: 1) the integration of CHL and Best Rate Travel USA Internet and mobile content delivery technologies will provide an extreme competitive advantage over the competition, which has a limited barrier of entry into the China market, giving anticipated early profitability; 2) allowing simultaneous roll out of the travel portal to U.S. and China; and 3) a market reach to over 300 million people, with an established subscriber base of approximately 230,000 within CHL's database. These synergies created by our tight integration with mobile technologies places us in a unique position to take advantage of the opportunities in the largest e commerce market.
Dividend
A dividend distribution has been declared by management to the shareholders of record on June 30, 2006. The dividend will be an issuance of series A convertible preferred shares which will be redeemable in two (2) years at a 3:1 ratio for common stock.
Shareholder Instructions for the declaration of dividend can be reviewed here: http://www.emobile365.com/cpinstruct.pdf
About E Mobile
E Mobile Information Technologies, Inc. (Pink Sheets:EMBG) is a broadband mobile content provider. The company, through its subsidiary CHL Technologies, Inc., provides entertainment and enterprise information management solutions for the wireless content market in the United States and internationally. The Best Rate Travel USA, Inc. subsidiary delivers clients everything they need for researching, planning, purchasing a trip and post-sale support anytime, anywhere in the world via mobile devices, Internet and traditional brick and mortar offerings. The synergies created by our tight integration with mobile technologies places us in a unique position to take advantage of the opportunities in the largest ecommerce market. In addition, the company, through another subsidiary, RFTune, Inc., operates as a fabless radio frequency integrated circuit manufacturing company offering wireless system, chip design, and integrated circuits for the 802.11/Wi-Fi market.
More information about E Mobile Information Technologies can be found at: http://www.emobile365.com
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflect management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; the uncertainty of the Internet and e-commerce market; including the travel and research and development of technology moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.