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China Information Technology, Inc. Announces Third Quarter 2011 Results
Date:11/9/2011

ompensation under the China Information Technology, Inc. 2007 Equity Incentive Plan. The fair value of these shares of approximately $1.1 million, based on the quoted market price, was accrued as of December 31, 2010 as the compensation was for services provided in 2010.

On May 3, 2011, upon achievement of earn out targets by Huipu Electronics (Shenzhen) Co., Ltd., a PRC company ("Huipu"), the Company issued 330,578 shares of the Company's common stock in connection with the acquisition of Huipu.

On August 16, 2011, the Company issued a total of 1,851,852 shares of the Company's common stock at a conversion price of $2.70 per share as full repayment for a shareholder's loan of $5 million.

On August 30, 2011, the Company settled the remaining potential earn out for 2011 and 2012 with Huipu's former shareholder and issued 688,707 shares of the Company's common stock in connection with the acquisition of Huipu.


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