omniture

Liberty Alliance Announces 1 for 3.5 Reverse Stock Split and Name Change

SinoHub, Inc.
2008-07-18 05:18 519


SHENZHEN, China, July 18 /Xinhua-PRNewswire/ -- Liberty Alliance, Inc. (OTC Bulletin Board: LBTI) announced today that the Company’s board of directors and stockholders approved a 1-for-3.5 reverse stock split of the Company’s outstanding common stock and a name change to SinoHub, Inc. As a result of the reverse stock split, every 3.5 shares of the Company’s common stock will be combined into one share of the Company’s common stock. The reverse stock split affects all shares of common stock and stock options of the Company outstanding as of immediately prior to the effective time of the reverse stock split. The number of shares of the Company’s common stock currently outstanding is approximately 70 million prior to the reverse stock split and will be reduced to approximately 20 million after the reverse stock split.

Shares of the Company’s common stock will trade on the Over-the-Counter Bulletin Board under its new trading symbol "SIHI" on a split-adjusted basis beginning on July 18, 2008.

The Company is a leading electronic components supply chain management (SCM) service provider. The Company provides SCM services to electronics manufacturers and component suppliers in the Peoples’ Republic of China. Our professional supply chain management platform integrates our proprietary, world-class online MIS software system (SinoHub SCM), logistics service centers located in key distribution/manufacturing cities in Hong Kong and China, and a one hundred person strong service team with extensive knowledge in electronics.

"With our brand new 26,500 square foot warehouse in place in Hong Kong, we are positioned to rapidly expand our business in the second half of 2008," said Harry Cochran, CEO of SinoHub, Inc. "The added market recognition and financial strength we are receiving as a public company in the United States is helping SinoHub move quickly into a pivotal position in the electronic component supply chain management services field in China."

About SinoHub

SinoHub, Inc. was founded by veteran entrepreneur Harry Cochran and electronic component industry veteran Lei Xia to facilitate the electronics revolution in China by providing world-class services and transparent information access for all participants in the electronic components supply chain in China. For more information, please visit our Web site at http://www.sinohub.com .

Cautionary Statement Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and the Company’s future performance, operations and products.

For more information, please contact:

SinoHub, Inc.

Nicole Cheung

Tel: +86-755-2601-2481

Email: nicole@sinohub.com

Source: SinoHub, Inc.