Expects to bolster Subaye businesses and complete spin-offs of non-core assets to separate operating entities, each of which will attempt to be listed on the OTCBB
GUANGZHOU CITY, China, Sept. 8 /PRNewswire-Asia/ -- MyStarU.com, Inc. (OTC Bulletin Board: MYST), is a leading provider of video sharing services in the People's Republic of China. MyStarU.com, Inc.'s platform includes production, uploading, storage, sharing and publishing onto more than 30 main video sharing portal websites. MyStarU.com, Inc. also offers SaaS business solutions and is in the process of developing what MyStarU.com, Inc. believes is the first online shopping mall in the world that will utilize 3D imaging throughout the online interface. MyStarU.com, Inc. management is in the process of organizing the spin-off of its entertainment assets and its importing and exporting business and is committed to reorganizing each of these major business segments as a separate, fully reporting and U.S.-listed public company.
"MyStarU.com, Inc. is focused on the future. We believe fully in each of our business segments but we are committing today to the idea that each business segment will grow stronger and become more profitable over time by operating independently of each other rather than being dependent. We have big plans and we want to move fast. We are excited about the future and are intent on serving the shareholders' best interests," said James Crane, chief financial officer of MyStarU.com, Inc.
About MyStarU.com, Inc.
MyStarU.com, Inc. is a leading provider of video sharing services in the People's Republic of China. MyStarU.com, Inc.'s platform includes production, upload, storage, sharing and publishing onto more than 30 main video sharing portal websites. MyStarU.com, Inc. also offers SaaS business solutions and is in the process of developing what MyStarU.com, Inc. believes is the first online shopping mall in the world that will utilize 3D imaging throughout the online interface. MyStarU.com, Inc.'s platform consists of its websites, http://www.subaye.com , http://www.x381.com , http://www.goongreen.org , and http://www.goongood.com and the Subaye Alliance network, which is its network of third-party websites. The Company's http://www.subaye.com and http://www.x381.com websites are generating revenue, while its other web-based businesses are under development or offering free services to potential customers at this time. Subaye.com's services are designed to enable internet users to find and view videos online. As of August 31, 2009, the Company had approximately 42,000 members and the Company's video database consisted of over 80,000 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 three million video clips, images and web pages.
For further information on MyStarU.com, Inc., please visit http://www.subaye.com/english . You may also register to receive MyStarU.com, Inc.'s future press releases or request to be added to the Company's distribution list by contacting James Crane by email at jimc@mystaru.com.
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 MyStarU.com'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. MyStarU.com'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:
At the Company:
James Crane, Chief Financial Officer
U.S. Office: +1-617-209-4199
P.R.C. Cell: +86-152-0120-8012
