ONTARIO, Calif., Sept. 10, 2007 (PRIME NEWSWIRE) -- SOYO Inc. (OTCBB:SOYO), an innovative provider of computer and consumer electronics products, today announced that Ming Chok, CEO of SOYO Inc., sent a Shareholder Letter to SOYO's Shareholders over the weekend. The letter serves to update Shareholders on the current events at SOYO and the Company's plans for the future.
Highlights from the letter include:
* A projection for 2007 for EPS of seven to eight cents. * The roll out of the first products created by the Honeywell Consumer Products division will take place in 2007. The first products that the Company plans to release will be portable hard drives. In addition, the Company plans to release various sized computer monitors which will feature web cams and microphones, among others. Additional product roll outs, including LCD televisions, are scheduled for 2008. * SOYO currently meets all the requirements to list on the American Stock Exchange, except for share price. The Company plans to list on the American Stock Exchange as soon as possible. * That the company is forming a Consumer Electronics Division around the Honeywell Brand name.
Ming Chok, CEO of SOYO said, "This will be the first of many communications with our Shareholders. We are very grateful for the support we have received, and hope to exceed your expectations in the future."
To download a copy of the Shareholder Letter, please visit http://www.soyogroup.com/corporate/investor.php or http://www.soyogroup.com/media/investors/shareholdersletter/Shareholders_Letter_Sept.6.2007.pdf
About SOYO Inc.
SOYO Group Inc. is an innovative provider of consumer electronics such as LCD Monitors, LCD Televisions, Bluetooth, Portable Storage, LCD Furniture and broadband telecommunications products and services. Headquartered in Ontario, California, with additional sales offices in South America, SOYO Group sells its products through an extensive network of authorized distributors, resellers, system integrators, VARs, retailers, mail-order catalogs and e-tailers. Products are sold under the SOYO, Dragon, Onyx, Dymond, Honeywell, Le Vello, and Prive brand names. For more information, please visit http://www.soyogroup.com.
"Safe Harbor" Statement
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. The words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions, are intended to identify forward-looking statements within the meaning of the Securities Act of 1933, as amended. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations 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, the availability of components and successful production of the company's products, general acceptance of the company's products and technologies, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, general economic risks and uncertainties, and various other information detailed from time to time in the company's filings with the United States Securities and Exchange Commission. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Please refer to the company's filings at http://www.sec.gov.
Third-party statements contained herein and information contained on any third-party Web site are not endorsed by or adopted by the company, nor has their accuracy been verified by the company.