Keyuan Petrochemicals (PINK:KEYP)

Keyuan International Group Limited completes reverse merger and Simultaneous private placement, effective April 22, 2010.

Company Snapshot: 

A leading independent manufacturer and supplier of various petrochemical products in China.

Shares Count:

As a result of this placement, the Company now has 50,661,562 shares of common stock issued and outstanding (assuming Series M shares are fully converted), 5,954,058 shares of preferred stock outstanding (convertible into the same number of shares of common stock), and warrants outstanding exercisable for an aggregate of 1,958,224 shares of common stock including placement agent warrants.

Financial Snapshot: (Began generating revenues in October of 2009).

• For fiscal year 2010, the Company expects to generate revenue of $461.3 million.
• For fiscal year 2010, the Company expects to generate net income of $36.3 million. excluding public company expenses.
• Implied 2010 EPS: $0.72 .