SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): January 28, 2010
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China Crescent Enterprises, Inc.
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(Exact Name of Registrant as Specified in its Charter)
Nevada 0-14306 84-0928627
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(State of Incorporation or (Commission File Number) (I.R.S. Employer
Organization) Identification No.)
14860 Montfort Drive, Suite 210
Dallas, Texas 75254
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (214) 722-3040
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Copies to:
Law Offices of Michael Littman, Esq.
7609 Ralston Road
Arvada, CO 80002
Phone: (303) 422-8127
Fax: (303) 431-1567
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2 below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 142-12 under the Exchange Act (17 CFR
240.14z-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
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Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers
Resignation and Appointment of Chief Executive Officer
In conjunction with the resignation of Paul K. Danner on February 1, 2010
as Chief Executive Officer and a Director, the Board of Directors of China
Crescent Enterprises, Inc., a Nevada corporation (the "Company"), voted to
appoint Dr. James Jiang as President and Chief Executive Officer of the Company,
effective February 1, 2010. Dr. Jiang is currently the Chief Executive Officer
of GaozhiSoft, Inc.
Dr. Jiang has over 18 years of information technology, wireless and senior
management experience, including CEO level positions. His management resume
includes posts with various multinational firms including British Telecom
Laboratory, GaozhiSoft, Singapore Technologies and Telular Corp. In 1996, he
developed and launched AirTrak, China's first e-commerce service to deliver
commerce information from the Internet via a wireless network, and was chief
architect of a dynamic web content cache engine and mobile application platform.
He holds two patents in Viterbi Decoding and Dynamic Contents Extraction, and is
a World Bank Scholar.
As President and Chief Executive Officer of GaozhiSoft, Inc., a OSS/BSS
software company, Dr. Jiang grew the company by developing proprietary software
unique to the Chinese market for servicing China Mobile (NYSE:CHL - News) and
China Unicom (NYSE:CHU - News). Dr. Jiang was also the Technical Director for a
fixed wireless product company, Telular Corp. Inc. (Nasdaq:WRLS - News), in the
United States as well as managing all the technical activities throughout Asia
Pacific. From 1992 to 1998, Dr. Jiang was Research and Development Director for
Singapore based company, PCI Ltd. (Singapore Stock Exchange: 101345 - News).
Dr. Jiang was awarded his Ph.D. in Digital Mobile Communications from the
University of Birmingham in England and his M.S. in Digital Systems from the
Cranfield Institute of Technology in England. He earned his B.S. in Electronics
from Jiaotong University and was a lecturer at the Shanghai Science & Technology
University.
Appointment of Director
Additionally, the Board of Directors has voted to appoint General Hugh G.
Robinson (Retired) a Director of the Company. Gen. Robinson is the former
Governor of the Federal Reserve Bank of Dallas and a current Director of
NewMarket Technology, Inc.
Mr. Robinson is the former Chairman and Board Member of the Federal Reserve
Bank of Dallas and served as an officer in the United States Army retiring with
the rank of Major General. Mr. Robinson is currently a member of the Board of
Directors of CarMax, Inc., Aleris International, Inc. and a member of the
Advisory Board of TXU Corp. Mr. Robinson is a graduate of the U.S. Military
Academy at West Point, New York and earned a Master's Degree in Civil
Engineering at Massachusetts Institute of Technology (MIT). He received an
honorary Doctor of Laws degree from Williams College and attended the Harvard
Management Program for Executives. Mr. Robinson's military career included a
number of prestigious posts that included aide de camp to President Lyndon B.
Johnson. After retiring from the military, Robinson joined The Southland
Corporation as vice president and president of Cityplace Development
Corporation, a subsidiary of Southland. From 1989 through 2002, Mr. Robinson
served as Chairman and Chief Executive Officer of The Tetra Group, Inc., a
Dallas construction management company with divisions in Minority Business
Development and affordable housing. Mr. Robinson serves on the Board of
Directors of the North Texas Public Broadcasting Co., Inc., the LBJ Foundation,
Inc., and the Better Business Bureau. He is a member of the Dallas Citizens
Council, the National Society of Professional Engineers, the Greater Dallas
Chamber and the Dallas Black Chamber.
Item 7.01 Regulation FD Disclosure
Press Release
The information in this Item 7.01 of this Current Report is furnished
pursuant to Item 7.01 and shall not be deemed "filed" for any purpose, including
for the purposes of Section 18 of the Exchange Act, or otherwise subject to the
liabilities of that Section. The information in this Current Report on Form 8-K
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shall not be deemed incorporated by reference into any filing under the
Securities Act or the Exchange Act regardless of any general incorporation
language in such filing.
On January 28, 2010, a press release was issued regarding Mr. Danner's
resignation. The full text of the press release is attached hereto as Exhibit
99.1.
Item 9.01 - Financial Statements, Pro Forma Financial Information and Exhibits.
(d) Exhibits 99.1 Press Release dated January 28, 2010
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: February 3, 2010
CHINA CRESCENT ENTERPRISES, INC.
By: /s/ Philip J. Rauch
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Philip J. Rauch
Chief Financial Officer
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