China Voice Holding Corp. Announces Completion of Financial Audits

Business Wire,  June 24, 2008  

Tags: audit, Company, FINANCE, financial, SEC

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To File Form 10 and Apply for Primary Stock Exchange Listing

BOCA RATON, Fla. -- China Voice Holding Corporation (CHVC) (OTC:CHVC), announced today that financial audits for the fiscal years ended June 30, 2006 and 2007 have been completed and the Company plans to file a Form 10 Registration Statement with the U.S. Securities and Exchange Commission (SEC) within the next few weeks to become a fully reporting company. The audits have been certified by Cornwell Jackson and cover all of CHVC's U.S. and foreign subsidiaries and operations.

Upon receipt of the initial Form 10 comments from the SEC and pursuant to the applicable rules and regulations related to the application for a listing of its common stock, CHVC plans to make an application as soon as permitted for a listing on the American Stock Exchange (AMEX) or the NASDAQ.

CHVC's President and CEO, Bill Burbank said, "Based on a recent discussion with the American Stock Exchange and ongoing discussions with our SEC Law Firm, we have implemented a plan of action intended to minimize the amount of time required to achieve a listing on either the AMEX or NASDAQ. In anticipation of completing our audits and to expedite the process of filing our Form 10, CHVC retained Andrews Kurth, LLP several months ago to prepare the Form 10 in parallel with the audit work. With more than 400 lawyers and offices in Austin, Beijing, Dallas, Houston, London, Los Angeles, New York, The Woodlands and Washington, DC we feel that Andrews Kurth is the right firm to support us in the future and to assist us with our application for a listing on AMEX or NASDAQ."

"We are very pleased to have completed our audit," said Ron Allen, CHVC's Chief Financial Officer. "Our first audit took much longer than we anticipated although it has enabled the Company to implement additional systems and procedural controls to support our anticipated rapid growth. Now that we have been through this initial audit process we expect our 2008 audit to go smoothly and to be completed on a timely basis. Our auditors, Cornwell Jackson, headquartered in Dallas, Texas have done an excellent job over the last few months and will remain our audit firm for 2008. Argy, Wiltse & Robinson, P.C. (AWR), who the Company retained as an independent accounting firm to assist with the management of the audit, will also continue to provide accounting support functions. AWR has offices in McLean, Virginia (headquarters) and Deerfield Beach, Florida. The audited financial statements can be viewed on the pinksheets website."

Burbank continued, "The completion of the audits, the filing of the Form 10, and the application for an AMEX or NASDAQ listing will represent the culmination of dedicated efforts by all members of Company management to achieve the highest level of transparency and liquidity for the benefit of our shareholders."

China Voice Holding Corp. ("CHVC") is a U.S. publicly-traded holding company headquartered in South Florida with a portfolio of next-generation communications products and services doing business in the People's Republic of China and the U.S. Through its subsidiaries, the Company provides Voice over Internet Protocol ("VoIP") telephone services, office automation, wireless broadband, unified messaging, video conferencing, mobility services and other advanced voice and data services in China, where the Company has obtained full legal status as a licensed telecommunications company. The Chinese telecommunications market is the largest and fastest growing in the world. CHVC's focus is on providing its innovative and patented voice and data solutions to government agencies and large enterprises in China. China Voice Holding Corp. trades Over-the-Counter and is listed in the Pink Sheets under the symbol "CHVC". Prior to the filing of periodic reports to the SEC, the Company is providing publicly-available financial statements and other current information at the pinksheets.com website. Additional information may be found at www.chvc.com.

Forward-Looking Statements

The foregoing, including any discussion regarding the Company's future prospects, contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to risks and uncertainties associated with economic conditions in the telecommunications industry, particularly in the principal industry sectors served by the Company; risks and uncertainties inherent in the operation of businesses outside the United States; changes in customer requirements and in the volume of sales to principal customers; the ability of the Company to assimilate acquired businesses and to achieve the anticipated benefits of such acquisitions; competition and technological change; and the ability of the Company to control operating costs and maintain satisfactory relationships with existing and potential vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors that may be set forth in the Company's anticipated filings with the Securities and Exchange Commission.

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