NEW YORK, Jan. 18 /Xinhua-PRNewswire-FirstCall/ -- Standard Commerce, Inc. (OTC Bulletin Board: STCC) (the "Company") announced today that, effective Friday, January 18, 2008, the Company will change its name to "China Jianye Fuel, Inc.” and begin trading under its new symbol (OTC Bulletin Board: CJYF). In addition, the Company announced the completion of a 2:13 reverse split of its outstanding common shares. The reverse split and name change became effective on the opening of business on January 18, 2008. All actions were approved by the Board of Directors and the majority shareholders of the Company, and disclosed in the Company’s information statement previously mailed to the shareholders.
China Jianye Fuel, Inc., through its operating subsidiary, Zhaodong Jianye Fuel Co., Ltd., a development stage company organized under the laws of the People’s Republic of China, is engaged in the development, manufacture, and distribution of alcohol based automobile fuel. The Company’s products are designed to function as a lower-cost, more environmentally friendly alternative to conventional gasoline-based auto fuel. The Company is currently capable of producing alcohol-based fuels comparable to lead-free gasoline with octane ratings ranging from #90 to #98.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
For more information, please contact:
Peter D. Zhou
Tel: +1-212-232-0120
