ONTARIO, Calif., July 11, 2008 (PRIME NEWSWIRE) -- SOYO Inc. (OTCBB:SOYO) today
updates it shareholders on a recent industry event. On Tuesday, July 8th
Syntax-Brillian filed a chapter 11 bankruptcy petition. SOYO has received a
number of calls and emails regarding this recent event, and although we would
not normally comment on this type of news we understand many shareholders are
concerned given the current economic climate.
SOYO Inc. Chairman and CEO Ming Chok said, "I want to reassure our shareholders
that although we have seen some softening in certain channels, our overall
business remains solid, and we continue to make good progress in attaining our
stated goals for 2008. We have just concluded our second quarter and are in the
process of closing our books, and although it is too early to affirm our second
quarter revenues and profits, we look forward to updating our shareholders as
soon as possible. We are on-track with our roll out of the Honeywell Altura
Brand of televisions and continue to gain placement for the entire line of
Honeywell Branded products.
Today SOYO has extended an offer to fill the vacant position of Investor
Relations and Public Relations Professional. We have decided to hire a
professional firm to help us better communicate SOYO's fundamental value with
the investment community to broaden our shareholder base.
About SOYO Inc.
SOYO, Inc. is a global provider of Computer, Consumer Electronics, and Home
Theater Furniture products and services. SOYO sells it products under the
following brand names: SOYO www.soyo.com, Honeywell www.honeywellce.com, Prive
www.privedisplays.com, Le Vello www.levellofurniture.com and Dragon.
Headquartered in Ontario, Calif., with sales offices in Latin America, SOYO
sells its products through an extensive network of authorized retailers,
distributors, and ecommerce companies. For more information about the company
and its products, please call 909-292-2500 or visit our Web sites.
"Safe Harbor" Statement
This release contains certain statements that may be deemed "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements are subject to certain risks and
uncertainties and actual results could differ materially from those expressed in
any of the forward-looking statements. The words "plan," "confident that,"
"believe," "scheduled," "expect," or "intend to," and similar conditional
expressions, are intended to identify 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, successful
performance of internal plans, 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 www.sec.gov.
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CONTACT: SOYO Inc.
Edward O'Brien, Director of Marketing
(909) 292-2500
edwardo@soyo.com
