EVCI CAREER COLLEGES HOLDING CORP. (EVCI) PROVIDES SHAREHOLDER UPDATE AND ANNOUNCES YEAR TO DATE RESULTS OF ZHEJIANG DASHANG MEDIA CO.

Rhea-AI Summary

EVCI Career Colleges Holding Corp. (OTC: EVCI) announced a change of control following a transaction with Zhejiang Dashang Media Co., Ltd., which has acquired a controlling interest. The current year results for Zhejiang Dashang Media highlight gross revenues of $61.6 million, up 300% from 2021, serving 1.7 million users, an 80% increase in daily users, and 33,871 daily paying users. EVCI anticipates significant growth in 2023 and plans to submit a name and symbol change to FINRA soon to reflect its new business model.

Positive

• Gross revenues reached $61.6 million, a 300% increase compared to 2021.
• User base expanded to 1.7 million, representing a 100% growth year-over-year.
• Daily user engagement increased to 401,755, an 80% rise from 2021.
• Daily paying users rose to 33,871, an 80% increase from the previous year.
• EVCI plans to implement a name and symbol change to align with its new strategy.

Negative

• None.

Sheridan, WY, Nov. 28, 2022 (GLOBE NEWSWIRE) -- EVCI Career Colleges Holding Corp. (OTC: EVCI) previously announced a change of control with Zhejiang Dashang Media Co., Ltd. in which Zhejiang Dashang Media Co., Ltd. acquired controlling interest in a private transaction through all outstanding classes of preferred shares.

“We have completed the majority of the required documentation for the change of control” stated Wei Li, Chairman. “We would also like to report on the current year results for Zhejiang Dashang Media Co”.

• Gross revenues of $61.6 million for the year to date, up 300% versus annualized 2021 revenue 
• 1.7 million users, up approximately 100% versus 2021 
• 401,755 daily users, up approximately 80% versus 2021 
• 33,871 daily paying users, up approximately 80% versus 2021 

“We are excited about the growth with Dashang Short Video and what that means for value for EVCI shareholders” stated Wei Li, Chairman. “I believe 2023 could be a record year and we are projecting significant growth”.

EVCI Career Colleges Holding Corp. plans to submit a name and symbol change to FINRA in the coming weeks to mirror the company’s new business model. The company plans to report on its strategy for growth as well as acquisitions lined up for 2023 in the coming months.

About Zhejiang Dashang Media Co., Ltd.  

Zhejiang Dashang Media Co., Ltd. (“Dashang”) focuses on the research and development and operation of short video social products in the 5G era. " Dashang Short Video" developed and operated by Dashang is a short video application that integrates short video recording, publishing, sharing and other functions. Dashang's management team members are all from first-tier companies such as Alibaba Group and Microsoft.

As a professional short video platform, Dashang uses advanced artificial intelligence technology and big data technology to realize efficient and intelligent distribution of high-quality short video content while encouraging users to create and watch short video content, and realize profit through advertising revenue. In the business ecosystem centered on high-quality content and accurate advertising, the Internet celebrity anchors have increased the attention of fans, the merchants have increased the sales of their products, the brand has expanded its popularity, and users have gained benefits while enjoying leisure and entertainment, which is also reflected in the rewards. It is a business model that achieves a win-win situation for all parties in a dynamic balance.

http://web.tokshine.com/

Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although EVCI Career Colleges Holding Corp. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, EVCI Career Colleges Holding Corp. is unable to give any assurance that its expectations will be attained. Factors or events that could cause our actual results to differ may emerge, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Contact:
Alvin Wang
Investor Relations
awang@focalpointchina.com

Attachment

• EVCI CAREER COLLEGES HOLDING CORP. (EVCI) PROVIDES SHAREHOLDER UPDATE AND ANNOUNCES YEAR TO DATE RESULTS OF ZHEJIANG DASHANG MEDIA CO.

FAQ

What are the recent revenue figures for EVCI in 2022?

EVCI reported gross revenues of $61.6 million for the year to date, a 300% increase compared to 2021.

What user growth has EVCI experienced this year?

EVCI has achieved a user base of 1.7 million, which is an approximate 100% increase from 2021.

How many daily users does EVCI currently have?

EVCI currently has 401,755 daily users, up approximately 80% versus 2021.

What changes is EVCI planning regarding its name and stock symbol?

EVCI is set to submit a request for a name and symbol change to FINRA to reflect its new business model.

What projections does EVCI have for the upcoming year?

EVCI projects significant growth in 2023 and believes it could be a record year.