Dallas, Texas – 10 May 2016 – Ciao Group, Inc. (CIAU), soon to finalize a corporate name change to Numelo Technology, Inc., today released a letter to shareholders from the Company’s new CEO.
Aubrey Brown was appointed CEO and Chairman on February 29th. He is reshaping the Company’s business plan and direction leveraging current assets and resources. His letter today details the Company’s new plan to find emerging and frontier market founded technology firms with viable solutions to satisfy the local opportunity to expand the the reach and application of the internet and mobile phone network within their resident region.
The economic growth of an emerging or frontier market country parallels the growth in the number of students that country sends to the U.S. and Europe. Brown plans to tap into those emerging and frontier market students as they return to their home countries.
NuMelo is at the right place at the right time with the right strategy. Frontier and emerging markets are rich with untapped talent. Frontier and emerging markets are looking to replace the expensive technology resources coming from Western, multinational firms. At the same time, global investment funds are exploring frontier and emerging market diversification to offset the lackluster performance of more traditional investments.
About Ciao Group, Inc. (Pending Name Change To NuMelo Technologies, Inc.)
In conjunction with a recent change of control, Ciao Group is transitioning under new management to leverage its regional expertise and presence within the telecommunications market in Brazil to refocus on the acquisition and development of disruptive telecommunication technologies within Brazil at first and then throughout South America with further plans to expand globally into frontier and emerging markets everywhere.
This press release contains 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 (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, among other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.