WEB NEWS Pump and Dump Watch
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Pump and Dump Watch
Disclosure: GeoInvesting is providing this information for your edification and in no way has any affiliation with any promoters and/or newsletters disseminating information on NANI, nor is GeoInvesting being paid to post this information. At times, the GeoTeam may trade P&D's on a long or short basis, depending on how we feel the momentum of the stocks will be affected by the efforts of stock promoters and any ensuing dumps.
CFO Trail
Effective June 25, 2012, Hongxiao Zhang resigned as chief financial officer and as principal accounting officer of our company. Ms. Zhang will remain as our president, secretary, chief executive officer and as a member to our board of directors. Her resignation was not the result of any disagreements with our company regarding our operations, policies, practices or otherwise.
Concurrently with Ms. Zhang’s resignation, we appointed Xu Yongbiao as chief financial officer and principal accounting officer of our company, effective June 25, 2012.
Liquidity Requirements
SInce inception, Full East has not generated revenues and has not paid any dividends and is unlikely to either pay dividends or generate revenues in the immediate or foreseeable future. The continuation of Full East as a going concern is dependent upon the continued financial support from its shareholders, the ability of Full East to obtain necessary equity financing , Full East’s success in acquiring interests in properties that have economically recoverable reserves, and the attainment of profitable operations. As at December 31, 2011, Full East has not generated revenues and has accumulated losses totaling $16,459 since inception. These factors raise substantial doubt regarding Full East’s ability to continue as a going concern. Full East’s financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should Full East be unable to continue as a going concern.
In order to execute our business plan, we estimate that we will require approximately $1,300,000 over the next 12 months. However, we estimate that we will require approximately $70,000 in order to sustain our basic operations and meet our public reporting requirements for the same 12 month period. In the event that we are unable to raise sufficient financing to execute our business plan, we will downscale our business plan and operations as required by our budgetary limitations.
We estimate that our expenses over the next 12 months will be approximately $1,100,000 as described in the table below. These estimates may change significantly depending on the nature of our future business activities and our ability to raise capital from shareholders or other sources.
Description
Estimated Completion Date
Estimated Expenses
Legal and accounting fees
12 months
80,000
Website and app development
4 months
175,000
Management and consulting costs
12 months
275,000
Marketing
8 months
400,000
Acquisition of fixed assets
12 months
100,000
General and administrative expenses
12 months
70,000
Total
1,100,000
Reverse Merger Activity
On May 14, 2012 Full East International Limited became a public entity via a
reverse merger transaction.
Company Snapshot:
Provides a range of goods and services in the areas of information technology and interactive education.
Industry Snapshot:
Post Merger Share Calculation : (adjusted for a 9 for 1 forward stock split)
162,729,000: Pre reverse merger outstanding shares
77,729,000: Shares cancelled as part of the Share Exchange
100,000,000: Newly issued shares of Common Stock
GeoTeam® best effort calculation of total post reverse merger shares assuming full conversions: 185,000,000
Financial Snapshot : December Year End
Reverse Merger Activity
On February 24, 2012, Narnia Corp., (the “Company”, “we”, “us”)
entered into a letter of intent (the “LOI”) with Hangzhou Xuerun Education & Technology, Ltd., a People’s Republic of China corporation (“Xuerun”), pursuant to which we will
acquire 100% beneficial ownership of Xuerun in exchange for
103,271,000 shares of the Company’s common stock.
Share Structure
Effective January 25, 2012, in accordance with approval from the Financial Industry Regulatory Authority (“FINRA”) and the U.S. Securities and Exchange Commission, we changed our name from China Forest Energy Corp. to Narnia Corp. In addition, our issued and outstanding shares of common stock increased from 18,081,000 shares of common stock to 162,729,000 shares of common stock, par value of $0.00001, pursuant to a 1:9 forward split of our issued and outstanding shares of common stock.
Also effective January 25, 2012, our authorized capital decreased from 900,000,000 shares of common stock to 400,000,000 shares of common stock, par value of $0.00001. Our preferred stock will remain unchanged.
The name change and forward split has become effective with the Over-the-Counter Bulletin Board at the opening of trading on January 25, 2012 under the symbol “CFECD”. The “D” will be placed on our ticker symbol for 30 business days. After 30 business days, our new symbol will be “NANI”. Our new CUSIP number is 630884104.
Reverse Merger Activity
On November 22, 2011, the share
exchange agreement between China Forest Energy Corp., (the “Company”, “us”, “we”, “our”), Zhejiang Forest Bamboo Tec Co., Ltd. (“Zhejiang Forest”) and Forest Energy Co., Ltd. (“Forest Energy “)
was terminated . According to the terms of the share exchange agreement, we had agreed to acquire 95% of the share capital of Zhejiang Forest from Forest Energy in exchange for 15,919,000 shares of our common stock. The parties mutually agreed to terminate the agreement. There were no early termination penalties associated with the termination of the above agreement.
Reverse Merger Activity
On January 12, 2011 China Forest Energy Corp., entered into a share exchange agreement with Zhejiang Forest Bamboo Tec Co., Ltd., a company incorporated under the laws of the People’s Republic of China (”Zhejiang Forest”) Forest Energy Corp., a holder of 95% of the issued and outstanding share capital of Zhejiang Forest (“Forest Energy”) and a company incorporated under the laws of the British Virgin Islands. According to the terms of the share exchange agreement, we agreed to acquire 95% of the share capital of Zhejiang Forest from Forest Energy in exchange for 15,919,000 shares of our common stock.
