Sunday, July 11, 2010 6:29:21 AM
China accomplishments
-- February 21, 2008, the Board of Directors of NWTT approved sending a
delegation to China to seek out merger and acquisition opportunity.
Targeting companies in China that have approximately $5,000,000 in annual
revenues, EBIDTA of in excess of $500,000 or more and a 5 year history of
operations. Also, looking for a professional management team in place with
a proven business line.
-- April 24, 2008, NW Tech Capital, Inc. announced that it has
successfully incorporated a new Hong Kong/China company effective April 17,
2008. The new company is NW Tech Capital Group (Hong Kong) Limited with
registration number 1228097. This company is a subsidiary of NWTT and will
be used as a management company to bridge the gap between NWTT and possible
mergers and acquisitions in China.
-- August 19, 2008, NW Tech Capital, Inc., announced that it has entered
into a Letter of Intent to acquire 51% of the controlling shares of Zhuhai
Jialun Guangcai Chain Drugstore Co., Ltd. ("ZJG Drugstores"). Although this
purchase was not completed the company has made many valuable steps into
entering the China market and believes it will have future success in this
market in 2009. NWTT is still working on a joint venture with the ZJG
Drugstores.
-- October 9, 2009, NW Tech Capital announced the change in Direction
with ZJG Drugstores to enter into a joint venture to develop new
distribution centers for ZJG Drugstores.
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