LYCOS RETRIEVER 
Future: E-Future
built 163 days ago
[E]-Future is ... one of the IBM premier business partners in Asia Pacific as well as the partner of SAP, Oracle, Microsoft, JDA and Motorola. e-Future has 19 branch offices in 31 provinces in China with over 600 employees including 250 consultants and service professionals and 270 programmers for software research and development and customization.
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IBM's selection of e-Future marks an additional example of the recognition that e-Future continues to receive from leading businesses worldwide. Mr. Adam Yan, Chief Executive Officer and Chairman of e-Future, commented, "We are delighted for this outstanding opportunity, and we look forward to continuing to develop relationships with world-class companies like IBM and B&Q."
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On October 3, 2007, e-Future received conversion notices from Capital Venture International (''CVI''), an investor in the private placement of the Notes, requesting conversion of the $5,000,000 Note issued to CVI. Pursuant to the terms of the Note, upon conversion of the Note, e-Future was required, by Tuesday, October 9, 2007, to pay CVI approximately $1.45 million under the make-whole provision of the Note and to issue 200,080 ordinary shares to CVI at the rate of $24.99 per share ("Conversion Price").
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This document may contain certain forward-looking information about e-Future that are intended to be covered by the safe harbour for "forward- looking statements" provided by the Private Securities Litigation Reform Act of 1995 and any other similar laws that may apply. Readers are cautioned not to place undue reliance on these forward-looking statements because they speak only as of the date on which they were made. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include, among others: e-Future's ability to continue to experience and effectively manage growth in its business operations; the effect of competitive and economic factors and e-Future's reaction to those factors; e-Future's ability to locate and successfully integrate possible acquisition targets, and the continued expansion of the Chinese retail market. e-Future does not undertake any obligation to republish revised forward- looking statements to reflect events or circumstances after the date of these forward- looking statements or to reflect the occurrence of unanticipated events. Readers are ... urged to carefully review and consider the various disclosures in e-Future's various SEC reports, including, but not limited to, its Annual Report on Form 20-F for the year ended December 31, 2005.
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"We are delighted to welcome Mr. Lin to our Board of Directors and audit committee," said Adam Yan, Chief Executive Officer and Chairman of e-Future. "His expertise in the technology industry and corporate governance will add great value to our company, and we look forward to his immediate contributions."
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