Science & Technology
Science and Technology
Science and Technology
Mon, May 18, 2009
Fri, May 15, 2009 Zoom Technologies, Inc.: Zoom Files Proxy in Connection With Acquisition of China-Based Company
BOSTON, MA--(Marketwire - May 15, 2009) - Zoom Technologies, Inc. (
The China-based company, which is to be named Leimone United, Inc., will include 100% interest in the holding company Gold Lion, 51.03% interest in TCB Digital, 100% interest in JS Leimone, and 100% interest in Profit Harvest. TCB Digital and JS Leimone primarily design, develop, and manufacture mobile phones and other mobile communication devices; and Profit Harvest primarily exports these and other products.
The Website for TCB Digital is [ www.tcbdigi.com ].
About Zoom Technologies
Zoom Technologies, Inc. designs, produces, markets, and supports communication products under the Zoom, Hayes®, and Global Village® brands. Zoom is headquartered in Boston, and its European sales and support center is in the UK. Zoom markets its products in over forty countries, and provides multi-lingual support from its offices in Boston and the UK. For more information about Zoom and its products, please see [ www.zoom.com ].
Forward-Looking Statements
This release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this release regarding Gold Lion, TCB Digital, JS Leimone and Profit Harvest (collectively, the "Gold Lion Group") or Zoom's strategy, future operations, future financial position, prospects, plans and objectives of management, as well as statements, other than statements of historical facts, regarding Zoom's or the Gold Lion Group's industry, are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The parties may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements, and investors should not place undue reliance on the forward-looking statements, including statements regarding the ability of Zoom to complete the SEC staff review process with respect to the proxy statement. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements made by the parties. Important factors that could cause actual results or events to differ materially from the forward-looking statements, include among others: the ability of Zoom and the Gold Lion Group to satisfy the conditions to closing of the proposed acquisition; changing principles of generally accepted accounting principles; outcomes of government reviews, inquiries, investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments; requirements or changes adversely affecting the business in which Zoom or the Gold Lion Group is engaged; fluctuations in customer demand; management of rapid growth; intensity of competition; the time to develop and market new products; general economic conditions; and geopolitical events and regulatory changes. Further, the forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, collaborations or investments made by the combined company. These forward-looking statements inherently involve certain risks and uncertainties, some of which are detailed in Zoom's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Neither Zoom nor Gold Lion Group assumes any obligation to update any forward-looking statements.
Additional Information
Zoom has filed with the SEC a preliminary proxy statement on Schedule 14A in connection with the proposed acquisition.
Stockholders of Zoom and other interested persons are advised to read, when available, Zoom's definitive proxy statement in connection with the solicitation of proxies for the special meeting because such proxy statement will contain important information.
The definitive proxy statement will be mailed to stockholders as of a record date to be established for voting on the proposed transaction. Stockholders will also be able to obtain a copy of the definitive proxy statement, without charge, once available, at the SEC's website [ http://www.sec.gov ] or by directing a request to Zoom at 207 South Street, Boston, MA 02111, telephone: (617) 423-1072. As a result of the review by the SEC of the preliminary proxy statement, Zoom may be required to make changes to its description of the acquired business or other financial or statistical information contained in the preliminary proxy statement.
The preliminary proxy statement and Zoom's Form 10-K filed March 12, 2009 include a description of the security holdings of Zoom's officers and directors, and their respective interests in the successful consummation of this acquisition.
Zoom and its officers and directors may be deemed to have participated in the solicitation of proxies from Zoom's stockholders in favor of the approval of the transaction. Each of Zoom's officers and directors is also a common stockholder or an owner of options to purchase Zoom common stock. Further information concerning Zoom's directors and executive officers is set forth in the publicly filed documents of Zoom. Stockholders may obtain more detailed information regarding the direct and indirect interests of Zoom and its directors and executive officers in the transaction by reading the preliminary proxy statement filed with the SEC, as well as future preliminary and definitive proxy statements regarding the acquisition, which will be filed with the SEC.
