China Grand Resorts (CGND) research, news, and more from GeoInvesting

Company description

Mon, 14 Feb 2011 05:00:00 GMT

China Grand Resorts, Inc., together with its subsidiaries, focuses on the project consulting and real estate acquisition, and project marketing activities for tourism area developments in the People’s Republic of China. It owns commercial income rights to 10,000 square meters of apartment space in a building of the Huadun Changde International Hotel’s apartment complex, which is under development in the city of Changde in the Hunan Province. The company is based in Beijing, the People’s Republic of China.

History:

From 2004 through January 2008, as a result of our acquisitions of the BAHA and BHCA, we were engaged in advertising production, and media consultation providing marketing, brand management, advertising, media planning, public relations and direct marketing services in the People’s Republic of China. We ceased those operations when we sold our interest in the BAHA Group in January 2008.

In January 2008, our business focus was based on the interest acquisition in JXHC and the Provincial Class One Full Service Operator license for the Jiangxi Province from Union Max. We also subsequently acquired other mobile phone and internet based technologies to compliment our existing technology and license rights. We attempted to provide ancillary services for cell-phone customers in Jiangxi Province whereby customers could buy minutes on the fly using their debit card or bank account along with other mobile phone based services. However, in December 2008, due to third party issues which negatively affected our ability to launch that business, we determined to terminate that business which resulted in a sale of our interests to an unaffiliated third party effective in March 2009 for $100.

On August 1, 2009, we entered into the agreement with Hua Hui. Under the agreement, we received the commercial income rights to the Project. In the PRC, local and central governments own all of the real property, however, land use right are granted by the governments to third parties. Hua Hui owns the land use rights to the Project, and we received the commercial income rights to the Project from Hua Hui. Commercial income rights means the exclusive right to own and/or receive any and all income and proceeds derived from the Project in any capacity.

Auditor trail

Fri, 25 Mar 2011 04:00:00 GMT

On March 22, 2011, the Board appointed Parker Randall CF (H.K.) CPA Limited (“Parker Randall”) as the Company’s new independent registered public accounting firm. The decision to engage Parker Randall was approved by the Company’s Board of Directors on March 22, 2011.

Liquidity Requirements

Fri, 14 Jan 2011 05:00:00 GMT

We continue to experience significant losses from operations. As discussed below, we anticipate that we will generate sales from the Project commencing in the first quarter of calendar year 2011. However, we nonetheless have an immediate need for capital to conduct our new business endeavors as well as our ongoing working capital needs. We anticipate raising capital through additional private placements of our equity securities, and, if available on satisfactory terms, debt financing.

CFO Trail

Wed, 15 Dec 2010 05:00:00 GMT

On December 14, 2010, the Board of Directors appointed Mr. Menghua Liu (Age 42), our Chairman and Chief Executive Officer, to serve as the acting Chief Financial Officer of the Company.

CFO Trail

Tue, 28 Sep 2010 04:00:00 GMT

On September 28, 2010, the Company accepted the voluntary resignation of Mr. Xiaojun He as Chief Financial Officer of the Company. Mr. He was appointed in such capacity on February 5, 2010. Mr. He did not resign over disagreements with the Company on any matter relating to the Company’s operations, polices or practices. As of the date of this report, the Company has not identified a new Chief Financial Officer.

Research

Wed, 18 Nov 2009 05:00:00 GMT

Recent Corporate Actions:

1. Name change from Asia Premium Television Group, Inc. to China Grand Resorts

Purpose On August 1, 2009, the Company entered into a subscription and asset sale agreement with Beijing Hua Hui Hengye Investment Ltd. pursuant to which it received the commercial income rights to development project located in Changde, Hunan Province, PRC. As a result of this transaction, the Company intends to be involved in the sale of resort projects in PRC. The purpose of the name change is to better reflect the new corporate direction of the Company.

2. One for Twenty Reverse Stock Split

Purpose- The Board of Directors believes that our Common Stock is undervalued and that the Reverse Split will allow the Company’s Common Stock to trade in a more realistic price range.

Source: SEC Filing DEF-14c (October 16, 2009)