Big Brother
3 years ago
Anything is possible in this market.
Sounds like they want to go to NASDAQ.
KUALA LUMPUR, 04 FEBRUARY 2021 – Ho Wah Genting Berhad’s (“HWGB” or the “Company”) (KLSE:9601) wholly-owned subsidiary, HWGB Biotech Sdn Bhd (“HWGB Biotech”), has today entered into a third supplemental joint venture agreement (“JVA”) with E-MO Biology Inc (“EBI”) in which HWGB Biotech has agreed to accept a 15% equity stake in EBI in exchange for the 40% net profit from EBI agreed upon from the earlier JVA entered into on 14 August 2020. Whilst HWGB Biotech shall continue to retain the exclusive license and rights to produce, distribute, market, sell, commercialize and any other activities relating to the vaccine and patents in South East Asia.
The supplemental JVA is conditional upon EBI consummating a business combination with a company listed on the OTC Market by 01 August 2021. Through the business combination, EBI intends to further list its shares on the NASDAQ Stock Market.
Chief Executive Officer of HWGB, Dato’ Aaron Lim said: “We deliberated and negotiated over the new JVA terms and believe that this new agreement is to the benefit of the Company going forward as we will be able to share in EBI’s success. This is the best way forward”.
“EBI continues to make progress into research and development (“R&D”) for vaccines, immunological treatment and diagnostic product development related to the COVID-19 virus. It has already signed a series of agreements to conduct clinical trials in accordance with US Food and Drug Administration (“FDA”) rules. We look forward to the findings of the clinical trials and a speedy approval of the vaccines given that infection rates continue to be high in Southeast Asia and had negatively impacted the economy”.
Earlier in January 2021, the Company announced its wholly-owned subsidiary HWG Capital Sdn Bhd (“HWG Capital”) will lead the Company’s investment projects moving forward which include the US$1 million investment in EBI to fund the R&D of vaccines, immunological treatment and diagnostic product development in relation to COVID-19 virus. The EBI’s vaccine clinical project was granted full approval from the FDA for the Phase IV clinical trial and the research is also officially published on the WHO official clinical research webpage.
https://hwgbbiotech.com/view_media.php?id=239
Big Brother
3 years ago
Nice..! Managed to snag some .28s this AM, I don't really follow OTC news that closely, but I had this on my watchlist for 4 years, and very rarely saw any action on it, trades or bids. However, yesterday, I saw an unusual bidder pop up out of the blue, and that got it on my radar, and as soon as I saw the volume this morning, I just grabbed them....lol. I didn't know why it was moving until later, but I'm glad I got some now, as this is significant news.
Of course it's just an LOI, those are not always a guarantee finalize, but if so, this could just be the beginning IMO.
Big Brother
7 years ago
These guys have a lot of cash on hand now.
Note 6 – Convertible Note
On December 19, 2016, the Company entered into a Convertible Promissory Note Purchase Agreement (the “Agreement”) with one of its major shareholders. Under the Agreement, the Company sold a Convertible Promissory Note to the lender with a principal amount of $6,869,818 and a 6% annual interest rate (the “Note”). The Note will mature on the date that is twenty-four months from the original issue date, and any outstanding principal and interest on the Note may be converted at any time prior to maturity at the lender’s option at a conversion price of $1.50 per share of the Company’s common stock. There is no beneficial conversion feature for the Note due to the conversion price being higher than the stock price at the time of the issuance of the Note.
Big Brother
7 years ago
Think I've reached the point to where there is no more research I can do on this. I've looked into all available information that is known and I'm no closer to figuring out whether or not if they intend to merge Landbond Furniture into this.....it's just speculation on my part.
If this does become a vehicle for Landbond Furniture to go public then I think this immediately becomes one of the nicest looking Chinese companies on the OTC. I see Landbond Furniture most likely comparable to Ethan Allen here in the US.
Case against this becoming Landbond Furniture, the executive officers don't seem to fit, and why would they choose an inexpensive shell with such a small % of share delivery......doesn't really make sense.
Best case scenario, this becomes Landbond Furniture and they start purchasing back shares on the open market, to both bring the pps up to NASDAQ levels and increase their ownership percentage.
Worst case scenario, this doesn't become Landbond Furniture and either dilutes into oblivion or stays illiquid for years and gradually fades away, never to be heard from again.
Big Brother
7 years ago
Just got the most current share structure from the TA. I love companies that use Island Stock Transfer as their TA, they always get back to you so quickly when you contact them.
9,030,000 shares outstanding,
3,530,000 float (most of these were sold to the original(seed) investors in the company)
10,000 shares held at DTC
Big Brother
7 years ago
At this point, based on the info in the 8K, there is no way to determine if Landbond Home Ltd is the same company as Landbond Furniture Group Ltd, beyond the name 'Landbond' there is no other connection I can see.
The new executives assigned Yong Zhang and Roy Kang don't seem to have any connection to Landbond Furniture, in fact their backgrounds are in the mining industry, so I have no clue what Landbond Home Ltd is going to be.
Landbond Furniture Group Ltd appears to be a huge Chinese company, it would be pretty interesting if this was indeed it, as it would be one of the bigger Chinese companies on the OTC, however, we need more info.
Big Brother
7 years ago
I wonder if Landbond Home Limited is the Chinese furniture maker Guangdong Landbond Furniture Group Co., Ltd...hmm...??
If so according to this Guangdong Landbond Furniture Group Co has almost 4,000 employees.
Established in 1984 with the headquarters in Guangdong, Guangdong Landbond Furniture Group Co., Ltd. is a private enterprise integrating research, design, manufacturing, marketing and services. The main sales channels are franchising (in over 350 cities), retailing (in 5 main cities in China) and export (to over 90 countries). Landbond makes and sells hundreds of models of furniture, upholstery and home furnishings for living room, bedroom, dining room, and home office, in casual contemporary and modern styles, and the distinctive Landbond style (a nature style blends the flavor of Chinese tradition and modern ergonomics), at promotional to medium price points. You can find here upholstered leather sofas, wooden and panel furniture, office chairs and more, and OEM is welcome. We have production area of over 100,000 square meters. Among them, solid wood, upholstery sofa, office chair and veneered panel production occupy 40,000, 40,000, 20,000 and 30,000 square meters respectively. Our new production base is under construction, which will extend the space for another 100% in the next 5 years. We have more than 3,800 staff in Guangdong and other 4 branches in China and abroad. Landbond''s competitive advantages exist in brand recognition, big operation size, strong capital support, smooth supply chain and good cooperation culture. This strength results in overall high value/cost ratio. Landbond''s good reputation enables it to get better transaction terms even at the beginning of new product development. Landbond is rated as a leading brand/company among consumer preference and furniture industry in China. We have various awards including Famous Trademark of Guangdong Province, Good Performance Enterprise, Enterprise with Good Cooperation Culture, and The Best Credit Enterprise. Landbond takes the policy of alliance with limited number of key parts suppliers to focus the supply, which help to achieve big buying and bargaining power. The main materials are supplied from China, including rubber wood, ash wood and leather. Lanbond also develops suppliers replying on its business to be most cost effective. MRPII is applied in the production system. Strong R&D forces are composed of experienced designers and engineers, who have solid knowledge of the industrial standard, and strong command ability to satisfy the individual requirement of customer. Over the past 22 years, Landbond adhered to the enterprise spirit of self-surmounting, and held it as a mission to carry forward furnishings culture in China and to improve life quality of people. Landbond is considered as an evergreen tree standing firmly in the private enterprises of China and a successful model of the development of Chinese furniture enterprises.
http://glfgcl.en.china.cn/op/CorpInfo/index.htm
Level up your trading with our powerful tools and real-time insights all in one place.
ANTI-BAGHOLDER
3 years ago
mammonism
3 years ago
Renee
5 years ago
DFLY
7 years ago
Hot Features
Premium
