TIPS NEWS!!
TIPS Enters the World of Telephony
NEW YORK, Nov. 3 /PRNewswire/ -- Tianrong Internet Products and Services, Inc. (OTC Bulletin Board: TIPS) announced today that it has entered the telephony industry, through its wholly owned subsidiary, Chinamalls.com (http://www.chinamalls.com). Chinamalls.com has signed an agreement with Abest Communication, Inc. ("Abest") to be Abest's exclusive online distributor of prepaid phone cards for the Asian community.
Abest is a leading player in the prepaid phone card market for the Chinese community in the United States and presently, Abest has 20% of the market share. Abest deploys VOI (Voice Over Internet) technology and provides quality customer service at very competitive prices.
Chinamalls.com is a leading e-commerce website for Chinese products, which is accessible in both Chinese and English.
James Tilton, president of TIPS, stated that, "with the size of the Chinese calling card market at approximately 120 million dollars annually and growing rapidly, we felt this was the perfect opportunity for TIPS and Chinamalls.com to enter the telephony market. Our online sales of prepaid phone cards are increasing everyday and we are extremely excited about the Company's future in this industry."
Tianrong Internet Products and Services, Inc. is a U.S. holding company whose strategy is the acquisition of domestic and international internet service providers and related companies.
For further information contact investor relations at 800-324-3464 or visit tipsstock.com.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the ability of Tianrong Building Material Holdings to accomplish its stated plan of business. Tianrong Building Material Holdings believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Tianrong Building Material Holdings or any other person that the objectives and plans of Tianrong Building Material Holdings will be achieved.
SOURCE Tianrong Internet Products and Services, Inc.
CO: Tianrong Internet Products and Services, Inc.
ST: New York
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