Home | Business News | Browse by Publication | P | PR Newswire

Smooth Global (China) Holdings, Inc. Files 8k on Signed Letter of Intent to Acquire Beijing Network Education Union Co. Ltd. Shares Without Dilution to the Current Outstanding Shares.

Publication: PR Newswire
Publication Date: 13-FEB-08
Format: Online
Delivery: Immediate Online Access

Article Excerpt
BEIJING, Feb. 13 /Xinhua-PRNewswire-FirstCall/ -- Smooth Global (China) Holdings, Inc. (BULLETIN BOARD: SMGH) ('Company'), a leading provider of value-added voice telecommunication services in China, announced today that the Company has signed a letter of intent with Beijing Network Education Union Co. Ltd. ('BNEU') to acquire its 100% equity holding in exchange for 14,850,000 shares of common stock of SMGH from the majority shareholders of SMGH (BULLETIN BOARD: SMGH) without dilution.

As of Feb. 13th, SMGH has 38,381,335 outstanding shares, which includes the restricted shares for the BNEU acquisition.

BNEU reported it has an unaudited net asset of $9 million. For the year ended 2006, it recorded an unaudited revenue of $4.6 million with net income of $1.18 million under the Chinese accounting principle. For the year...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from PR Newswire
Entrust GetAccess Secures Kingdom of Saudi Arabia's National Informati..., February 13, 2008
John Hancock Financial Announces World's Top Women to Run 2008 Boston ..., February 13, 2008
VEGF Neutralization Can Damage Brain Vessels, Say Schepens Eye Researc..., February 13, 2008
Raytheon Finishes the Year with Two Patriot Awards Totaling $377 Milli..., February 13, 2008
Nation's First Feng Shui Inspired McDonald's Restaurant Opens its Door..., February 13, 2008

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.