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EastBridge Investment Group's
Management Comments on Its Second Quarter Performance
Aug.13, 2007
EastBridge Investment Group (EBIG) (OTCBB: EBIG) today announced it
has filed its second quarter 10Q with the SEC. Overall, the Company
has achieved the following goals during this past quarter:
-- Management has completed many interviews and presentations to
create an awareness for the Company.
-- EBIG's stock has gained substantial volume and share price.
-- Several potential clients were visited which led to adding Ginko
as a new listing client. The contract with Ginko was executed in
July.
-- Several Joint Ventures were evaluated leading to the investment
in an Australian wine company in July.
-- Management began the process to list our clients on a US market
and has added several professional partners while strictly
controlling
expenses.
-- EBIG's first wholly subsidiary in Hong Kong, Fiber One, is now
profitable.
Revenues have increased by $17,788 in the 2nd quarter of 2007, over
the same period in 2006. The Company reported a net loss of $201,446
versus a $79,147 loss in the same period in 2006. The additional
loss was due largely to payroll and professional service expenses.
Norm Klein, CFO and COO of EastBridge Investment Group, commented,
"The revenue figure would have been higher if we had included as
income some of the stock we have received from our clients; however,
we have decided to take the more conservative accounting approach to
recording revenue and will not book revenue from the stocks until
they become publicly traded. At that time, we will recognize the
stock's full value as income."
Keith Wong, CEO of EastBridge Investment Group, added, "Instead of
incurring the costs and doing expensive valuation certifications on
the value of the stocks we have received from our clients, we have
chosen to wait until they are public and the market has set their
values. We therefore should see substantial increases on our
revenues and profits when these clients become public companies in
2008 and 2009."
EastBridge Investment Group focuses on small to medium-size
high-growth companies in China and India offering IPOs, Joint
Ventures and Merchant Banking services. The Company targets
industries in electronics, real estate, auto, metal, energy,
environmental, bio science and food retail distribution. To learn
more about EastBridge Investment Group, go to our web site:
www.EbigCorp.com. To receive EBIG's email alert, send a blank email
to info@EbigCorp.com.
The information in this news release includes certain
forward-looking statements that are based upon assumptions that in
the future may prove not to have been accurate and are subject to
significant risks and uncertainties, including statements to the
future financial performance of the Company. Although the Company
believes that the expectations reflected in its forward-looking
statements are reasonable, it can give no assurance that such
expectation or any of its forward-looking statements will prove to
be correct. Factors that could cause results to differ include, but
are not limited to, successful performance of internal plans,
fluctuations in foreign currency exchange, the impact of competitive
services and pricing, or general economic risks and uncertainties.
Contact:
Norm Klein
EastBridge Investment Group Corp.
480-966-2020
480-966-0808 (fax)
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