Global Satellite Broadcasting Company Confirms Steven Tung's Percentage of Public Company -- Tung Relinquishes Control of Patented Technology to GSBC for 18.5% of NASDAQ Listing

Steven Tung is not a director of GSBC Thailand and is not responsible for any prior or future press releases. GSBC USA will soon be a public company and its directors have not officially voted Steven Tung to sit on the board. Therefore, according to GSBC, any agreements made between Focus Media and Steven Tung is null and void.

Bangkok Thailand (PRWEB) January 29, 2007 -- Ronald Flynn the founder of Global Satellite Broadcasting Corporation of Thailand held a press release in Bangkok to clarify GSBC's position as the new owner of the patented technology.

Flynn said "Prior to purchasing the smart screen technology from Steven Tung, it was being used by Focus Media of China who had been purchasing the flat screen SMS technology from Cybersys of Hong Kong. Flynn then said, "Whatever agreement Steven made with FMCN was a personal agreement that had nothing to do with GSBC."

Prior to purchasing the smart screen technology from Steven Tung, it was being used by Focus Media of China who had been purchasing the flat screen SMS technology from Cybersys of Hong Kong. Flynn then said,

GSBC has followed through with its original agreements and is the present owner of the patented SMS technology now called 'Smart Screen Technology.'

Flynn then said, "I also wish to clarify that this press release has been written in accordance with patent laws and has been approved by the majority of the Directors of Global Satellite Broadcasting Corporation Ltd., Thailand. Steven Tung is not a director of GSBC Thailand and is not responsible for any prior or future press releases. GSBC USA will be the public company and its directors have not officially voted Steven Tung to sit on the board by the shareholders. Therefore, any agreements made between Focus Media and Steven Tung is null and void. GSBC is the new owner of the technology and we require anyone using our technology to pay a licensing fee."

As stated in a press conference on December 29th 2006.

Paragon International Placements Limited announced today that it has requested its client Global Satellite Broadcasting Corporation (GSBC) to delay its US listing by a few days. Chris Cangi a senior partner at Paragon said "We have asked GSBC to delay its launch simply to allow us to wrap up the details of several corporate acquisitions we have negotiated for GSBC. In closing Flynn said, "We would like to thank Paragon and our shareholders for their support and patience."

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ronald flynn steven tung gsbc fmcn global satellite broadcasting corporation paragon chris cangi

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