Subaye Files Application for NASDAQ Global Market Listing

2009-11-23 20:58 659

GUANGZHOU CITY, China, Nov. 23 /PRNewswire-Asia/ -- November 23, 2009 - Subaye, Inc. (OTC Bulletin Board: SBAY)("Subaye" or the "Company") a leading video advertising and entertainment media company in China, announced today that it has filed an application to list its shares of common stock to be traded on the NASDAQ Global Market.

Subaye's listing application is subject to review and approval by NASDAQ's Listing Qualifications Department for compliance with all NASDAQ Global Market standards. The Company believes it currently meets the NASDAQ Global Market eligibility requirements. Subaye will be working diligently with NASDAQ to complete the application process. Subaye's common stock will continue to trade on the OTC Bulletin Board under its current symbol, SBAY, until NASDAQ approves the Company's application. There can be no assurance that NASDAQ will approve the Company's listing application. Once the Company has been informed by NASDAQ of its decision, it will report back to the market.

About Subaye, Inc.

Subaye, Inc. ("Subaye" or the "Company") is a leading video advertising and entertainment media provider China. Subaye's platform includes production, upload, storage, sharing and publishing onto more than 33 main video sharing portal websites. Subaye also offers SaaS business solutions and is in the process of developing what Subaye believes is the first online shopping mall in the world that will utilize 3D imaging throughout the online interface. Subaye's platform consists of its websites, , , , and the Subaye Alliance network, which is its network of third-party websites. The Company's and websites are generating revenue, while its other web-based businesses are under development or offering free services to potential customers at this time. Subaye's services are designed to enable internet users to find and view videos online. As of October 31, 2009, the Company had approximately 56,000 members and the Company's video database consisted of over 89,000 profiles of corporate video showcases. These showcases offer a cost-effective venue for small to mid-size enterprises ("SMEs") to advertise their products and services and establish and enhance their corporate brands. The Company provides its users with easy access to an index of over 3.0 million video clips, images and web pages.

For further information on Subaye, Inc., please visit . You may also register to receive Subaye's future press releases or request to be added to the Company's distribution list by contacting James Crane by email at

Forward-Looking Statements

Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about Subaye, Inc.'s industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Subaye, Inc.'s operations are conducted in the People's Republic of China ("PRC") and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. Other potential risks and uncertainties include but are not limited to the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.

For more information, please contact:

James Crane, Chief Financial Officer

Tel: +1-617-699-6325 (U.S.)

Mobile: +86-186-0125-0891 (P.R.C.)

Source: Subaye, Inc.
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Keywords: Advertising