Of the 26,000,000 CXN shares, 15,000,000 CXN shares will be delivered to Sonnet
The remaining 11,00,000 CXN shares have been provisionally
CXN may not be able to raise additional equity when required or may have to borrow on terms that may be dilutive to existing shareholders.
The end result of these transactions, the Shareholders' equity of CXN has increased to $4,962,153 from a deficit of $896,051.
The termination of the agreement with CEInet will result in CXN
Media changing its business model entirely", said the company's Chairman, Mr.
OTCBB: CXIN) a premiere provider of China-based analytical market research data and customized market research analysis, announced today that Wang Changsheng has joined CXN as a member of the company's Board of Directors.
George Lee, CXN chairman and CEO commented that "We are pleased to have such a respected representative of China's State Information Center added to our Board of Directors.
Brault, Controller of CXN that the company is in compliance with the requirements of the Sarbanes-Oxley Act - one of the most sweeping legislation affecting corporate governance, disclosure and financial accounting in over a generation.
As stated in the amendment, CXN certifies their recent quarterly report (10-QSB) as filed, fairly represents in all material respect, the financial condition and results of operation of the Company.
George Lee, Chairman and CEO of CXN Media Corporation ("CXN") commented, "In our continuous effort to be open with our shareholders, clients and employees, we wanted to properly disclose events that are germane to our ongoing business operations.
Additional detail of CXN Strategy and Business Direction
has right of first refusal for CEInet's information in