Beacon Equity Research reports on the OTC and OTCBB Trade Leaders: International Imaging Systems, Inc. (OTCBB: IIMG), Rotoblock (OTCBB: ROTB), AmeriResource Technologies, Inc. (OTCBB: AMRE), Saratoga Resources, Inc. (OTCBB: SROE) and NaturalNano, Inc. (OTCBB: NNAN) for October 26, 2007.
Publication:
M2 Presswire
Publication Date: 26-OCT-07 |
Format: Online Delivery: Immediate Online Access |
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Article Excerpt M2 PRESSWIRE-26 October 2007-BeaconEquityResearch.com: Beacon Equity Research reports on the OTC and OTCBB Trade Leaders: International Imaging Systems, Inc. (OTCBB: IIMG), Rotoblock (OTCBB: ROTB), AmeriResource Technologies, Inc. (OTCBB: AMRE), Saratoga Resources, Inc. (OTCBB: SROE) and NaturalNano, Inc. (OTCBB: NNAN) for October 26, 2007.(C)1994-2007 M2 COMMUNICATIONS LTD
RDATE:26102007
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International Imaging Systems, Inc. (OTCBB: IIMG) Up 122.22% on Thursday
Detailed quote: http://www.beaconequityresearch.com/IIMG
October 25, 2007 - International Imaging Systems Completes Share Exchange to Acquire PRC Bio-Diesel and Oil Company
International Imaging Systems, Inc. (the "Company") (OTC Bulletin Board: IIMG.OB) today announced that it has completed a share exchange under which it acquired 100% of the outstanding capital stock of Baorun China Group Limited ("Baorun China"), a Hong Kong company. Baorun China's wholly-owned subsidiary, Redsky Industrial (Xi'an ) Co., Ltd. ("Redsky China"), a P.R.C. company, operates its business in China through Xi'an Baorun Industrial Development Co., Ltd. ("Xi'an Baorun"). Xi'an Baorun, a P.R.C. company located in Xi'an, Shaanxi Province in China, specializes in the development, exploration, production and distribution of bio-diesel and wholesale and processing of heavy oil and finished oil products in China. Under the terms of the share exchange, in exchange for all of their shares of Baorun China, the Company issued the shareholders of Baorun China approximately 94% of the Company's common stock. In connection with the transaction, one of the directors and all of the officers of the Company prior to the share exchange resigned; Mr. Gao Xincheng was appointed as a director, as Chairman and Chief Executive Officer of the Company, Ms. Li Gaihong was appointed as Chief Financial Officer of the Company and Mr. Chen Jun was appointed as Chief Operating Officer of the Company. Ms. Li will join as a member of the board of directors at a later date, immediately after the resignation of Mr. John Vogel as a member of the board of directors.
Concurrent with the share exchange, the Company completed a private equity financing of $10 million with 1 accredited investor. Pursuant to the financing, the Company issued 1,000,000 shares of its Series A Convertible Preferred...
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