Asiana Corp (ASIC) Signs LOI To Sell Its IEXPAY Division
05 6월 2008 - 8:00PM
PR Newswire (US)
BEIJING, China, June 5 /PRNewswire-FirstCall/ -- Asiana Corporation
(ASIC) http://www.asianacorporation.com/ is pleased to announce
that it has signed a letter of intent (LOI) with Good Life China
(GLCC.PK) to sell its IEXPAY division on an all cash basis. Mr. Xu
Asiana CEO said, "This is an exciting time for us. This sale does
not include our on line Chinese entertainment ticketing agency 1
800 buy piao http://www.1800buypiao.com/ which works similar to
Ticket Master and other on line entertainment ticketing Companies.
"In other company updates, the issuer should be in a position to
file the legal opinion towards obtaining the current issuer status
from Pink Sheets by the end of this week. The management expects to
receive approval from pink sheets, and to obtain the current status
by July 15, 2008. The issuer has also heard back positively from
its market maker regarding its 15c211 filings, which when completed
filed, and approved will elevate the issuer to being a solicited
issuer. The "Warning Unsolicited" quotation will be removed from
the issuer's quote on pink sheets. The management and its transfer
agent Heritage Trust have also submitted certified copies of all
documents requested by the issuer's market maker. "These are the
last few steps as we await for a final approval from NASD." Mr Xu
added, "We are certainly eager to close this deal; however, we do
not wish to disturb or disrupt the obtaining of the solicited stock
status. We intend to consult with our advisers and attempt to
expedite these transactions as much as possible." Safe Harbor
statement under the Private Securities Litigation Reform Act of
1995: Certain forward information contained in this release
contains forward-looking statements that involve risk and
uncertainties, including but not limited to, those relating to
development and expansion activities, domestic and global
conditions, and market competition. DATASOURCE: ASIANA Corporation
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