SGreenTech Group Ltd (0001502638)

WEB NEWS

Tuesday, October 25, 2011

Reverse Merger Activity

On October 7, 2011, the SGreenTech Group Limited (the "Company" or the "Registrant") effected the acquisition of SGreenTech Holdings Limited (SGreenTech Hong Kong), a Hong Kong company through the exchange of the single outstanding share,of SGreenTech Hong Kong for 6,153,846 shares of the Registrant. The outstanding share of SgreenTech Hong Kong was owned by Charlie In who served as SgreenTech Hong Kong's sole officer and director and who is a director, chief executive officer and majority shareholder of the Company. SGreenTech Hong Kong has become a wholly owned subsidiary of the Registrant and the Registrant has taken over the operations and business plan of SGreenTech Hong Kong. 

Company Snapshot:

A marketer and distributor of entertainment, computing and communications products and has obtained the right to assemble television sets for distribution and sale. 

Post Merger Share Calculation:

  • 20,000,000: Pre reverse merger outstanding shares
  • 26,153,846: Shares of Common Stock issued to certain shareholdes 
  • 19,800,000: Shares cancelled as part of the Share Exchange
  •   6,153,846: Newly issued shares of Common Stock

GeoTeam® best effort calculation of total post reverse merger shares assuming full conversions:  32,507,692

Financial Snapshot:

Since its inception, SGreenTech China has focused its efforts on conducting market research and development, and has devoted little attention or resources to actual sales and marketing or generating near-term revenues and profits. The Company has no revenues to date and has not realized any profits as of yet. In order to succeed, the Company needs to develop a viable strategy to market and distribute its products to end customers. To date, the Company has developed a market strategy that it believes will lead to near-term revenues for sale of television sets and monitors in the selected geographic regions.



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