Clear-Lite Holdings, Inc.(fka CLRH)

[dannol48]

Tag Industries Subsidiary Dissolved

Tag Industries was the only operating subsidiary of Clear-lite Holdings and was a Florida Corporation. It was officially dissolved and move to inactive by administrative action on 9/23/2011 for failure to file annual report.

This material event was not reported to the SEC/Shareholders on 8-K. The implication of this dissolution is the failure of the company to any longer operate a Going Concern.

Please note: I waited a month before posting to assure the dissolution wasn't retracted by reinstatement filing action, i.e. to preclude other than intentional abandonment.

http://www.sunbiz.org/scripts/cordet.exe?action=DETFIL&inq_doc_number=P05000099067&inq_came_from=OFFFWD&cor_web_names_seq_number=0002&names_name_ind=P&ret_names_cor_number=&ret_cor_web_names_seq_number=&ret_names_name_ind=&ret_names_comp_name=&ret_names_filing_type=&ret_cor_web_princ_seq=&ret_princ_comp_name=NIEDERMEYERLISA&ret_princ_type=

Some quotes from the last filed 10-K to assist in understanding:

http://www.sec.gov/Archives/edgar/data/1412299/000121390010004796/f10k2010_clearlite.htm

"Clear-Lite Holdings Inc., through its TAG Industries Inc. (“TAG”) subsidiary, sources products through global, high-quality, green-technology contract manufacturers and manufacturing outsourcing relationships in order to offer Earth-Friendly lighting products, generate cost efficiencies, deliver products faster, more cost efficiently, better serve customers as well as meet the needs of Eco-Friendly customers in targeted segments and geographical areas throughout the world. This ensures the efficient use of and return on capital."

...

"Clear-Lite Holdings, Inc. ("Clear-Lite" or the "Company"), (formerly known as AirtimeDSL), is a Nevada corporation incorporated on December 28, 2006. On April 15, 2009 Clear-Lite acquired TAG Industries, Inc. (“TAG”) a Florida corporation incorporated on July 15, 2005. See Note 4 for information regarding a reverse acquisition and recapitalization with a public shell corporation."

...

"Note 4 Reverse Acquisition and Recapitalization and Share Purchase Agreement

On April 15, 2009, Clear-Lite, (formerly known as AirtimeDSL), a then public shell corporation, merged with TAG Industries, Inc. and TAG became the surviving corporation, in a transaction treated as a reverse acquisition. Clear-Lite did not have any operations and majority-voting control was transferred to TAG. The transaction required a recapitalization of TAG. Since TAG acquired a controlling voting interest, it was deemed the accounting acquirer, while Clear-Lite was deemed the legal acquirer."

...

"Thomas J. Irvine, age 61, co-founded TAG Industries, Inc. / Clear-Lite Holdings, Inc. in 2005."

...

"Lisa A. Niedermeyer, age 34, co-founded TAG Industries, Inc. / Clear-Lite Holdings, Inc. in 2005."