MegaDeath
4 years ago
FORM 8-K
Section 8 – Securities and Trading Markets
Item 3.02 Unregistered Sales of Equity Securities.
On January 20, 2021, the Company entered into an agreement whereby Weijie Yin will purchase 22,000,000 shares of the Company’s common stock at the price of $0.055 per share, for a total purchase price of $1,200,000. The final payment by Mr. Yin will be made within 60 days after the subscription agreement is accepted by the Company.
https://www.otcmarkets.com/filing/html?id=14633566&guid=ZWAKUWV46vIDB3h
https://www.linkedin.com/in/weijie-yin
Big Brother
4 years ago
Even searching Kang Min Global Holdings Limited, on Baidu, and in Chinese, yields no results that I found...which is rather unusual....but it is a Republic of Seychelles business, so perhaps that is why...or maybe its a startup, or dba as Hefeng, or something else....not sure yet.
I wish there were some more details, but as you say, like usual, it's a wait and see type thing.
MegaDeath
4 years ago
In general, it's difficult trying to find info on Chinese tickers IMO. I did not find anything useful on Kang Min Global. The possibility of Xinjiang Hefeng Zhitong Biotechnology Co MOU coming to fruition is feasible I suppose. While the ties to “One Belt, One Road” could still be an option as a quote from the latest 10-Q on 06/19/2020 reads.
'Our Company focuses on the acquisition of target companies with operations located primarily in Southeast Asia, the Pacific Islands, the People’s Republic of China (including Hong Kong and Macau) (the “PRC”), Taiwan and other jurisdictions within Asia.. We believe that the PRC’s “One Belt, One Road” (“OBOR”) regional cooperation initiative will be a significant driver for strategic investment opportunities throughout Asia.'
https://www.otcmarkets.com/filing/html?id=14227875&guid=W7DFUpqa-fKiQth
Big Brother
4 years ago
I have not been able to find much on this, but the first guy on the list in the 8K, listed as a Kang Min shareholder, Pei Bin, is also the founder of Xinjiang Hefeng Zhitong Biotechnology Co. Ltd. who ABVN had the MOU with last year.
https://www.otcmarkets.com/filing/html?id=13456042&guid=idTFUFX7Btxlk3h
So this is probably what is still happening, only now they have moved beyond the MOU and there was actually a change on control. Who Kang Min Global Holdings Limited is, I'm not sure, perhaps the parent company of Xinjiang Hefeng Zhitong Biotechnology Co....??
They did a press conference about their US listing last year, though the deal was not really officially done until now.
https://sc.sina.cn/news/b/2019-05-11/detail-ihvhiews1359887.d.html?from=groupmessage&isappinstalled=0
Thats my best guess anyway.
Big Brother
5 years ago
Looks like the merger/acquisition should be completed by the end of August, but considering they have already held a press conference in China about the listing, it looks like basically a done deal IMO.
At this point it's just a matter of waiting to see if they are going to be able to bring any buyers in for the stock. The last RM they were going to do, Allied Plus, fell through, but the stock ran to over $8.00.......seriously doubt that will happen again though.
https://www.afv.group/pre-ipo-media-conference/
https://sc.sina.cn/news/b/2019-05-11/detail-ihvhiews1359887.d.html?from=groupmessage&isappinstalled=0
https://www.jianshu.com/p/2785610ced7c