Cirmaker Announces Contracted Sales of LCD Televisions to Time Warner Cable of New York City
16 September 2005 - 12:30AM
PR Newswire (US)
NEW YORK, Sept. 15 /PRNewswire-FirstCall/ -- Cirmaker Technology
Corporation (OTC:CRKT) (BULLETIN BOARD: CRKT) is pleased to
announce today that it has received a contract to supply Time
Warner Cable of New York City with Cirmaker-brand LCD televisions
on an "as-needed basis" for distribution to Time Warner's
commercial and residential customers in New York City. The local
promotion in New York City will be followed by a national campaign
in the first quarter of 2006. Pursuant to the agreement, Cirmaker
has made an initial shipment of 50 LCD television units to Time
Warner, and potentially may sell up to an additional 3,350 LCD
television units ranging in size from 15" to 42". Under the
agreement, Cirmaker could potentially receive revenues of $2.6
million. Commenting on the recent event, Bill Liao, President of
Cirmaker, said, "We are very excited to have Time Warner as a
partner. Ken Gooley, Managing Director of our European Division and
the Vine Group, our International Corporate Advisor, have worked
closely with us to improve our presence in international markets,
especially in the US. This is a wonderful opportunity for
Cirmaker." About Cirmaker Technology Corp. Headquartered in Taiwan
with offices in Beijing and Guang Dong province and a
representative office in New York, Cirmaker Technology manufactures
thermal dissipaters for laptop and personal computers, electrical
and electronic components and 3G MHP (3rd generation multimedia
home platform) digital set top boxes for television sets and
distributes LCD televisions. Cirmaker has developed set top boxes,
which convert digital television broadcast signals into analog
formats for analog TV sets to receive digital programming. The
units receive, process, store and broadcast analog, digital and
streaming media signals, and support pay-per-view and
video-on-demand functions. Cirmaker believes it is the only 3G MHP
STB manufacturer operating in China capable of producing set top
boxes which meet the required standards of Chinese broadcasting
authorities. Additionally, the devices comply with international
HDTV standards for high definition television. For further
information on Cirmaker Technology Corporation, please visit
http://www.cirmaker.com.tw/. The matters discussed in this news
release contain forward-looking statements. These statements are
subject to various risks, uncertainties, and other factors that
could cause actual results to vary materially from the results
anticipated in such forward-looking statements. Such risks,
uncertainties and other factors include Cirmaker's potential
inability to raise additional capital, the potential breach by the
counterparty to the vendor contract and lack of consumer acceptance
of the Cirmaker LCD televisions in the relevant markets, Cirmaker's
potential inability to compete with other companies that may be
more experienced and better capitalized than Cirmaker, currency
risks including those associated with the reevaluation of the
Chinese yuan, changes in domestic and foreign laws, regulations and
taxes, changes in economic conditions, uncertainties related to the
legal systems in Cirmaker's target markets, including, China's
legal system and economic, political and social events in China and
other large markets, foreign relations between Taiwan, China and
Cirmaker's other potential target markets, a general economic
downturn, a downturn in the securities markets, Securities and
Exchange Commission regulations, which affect trading in the
securities of "penny stocks," and other risks and uncertainties
detailed from time to time in Cirmaker's filings with the
Securities and Exchange Commission. These forward-looking
statements represent management's judgment as of the date of this
release. Cirmaker disclaims any intent or obligation to update
these forward-looking statements. For further information, please
contact: Emma Hui Communications Director The Vine Group T:
917.639.4099 T: 604.839.5931 F: 604.676.2769 E: DATASOURCE:
Cirmaker Technology Corporation CONTACT: Emma Hui, Communications
Director of The Vine Group, +1-917-639-4099, or +1-604-839-5931,
Fax: +1-604-676-2769, Web site: http://www.cirmakertechnology.com/
http://www.cirmaker.com.tw/
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