| ||At this time AVNI is officially an empty shell. It has been reporting to the SEC for years. For the first time in years, this interesting disclosure appeared on its latest quarterly filing: |
On March 17, 2016, the Company entered into a non-binding Memorandum of Understanding (“MOU”)with CaiE Food Partnership Ltd. (“CaiE”) for the purpose of acquiring CaiE as a wholly owned subsidiary. CaiE is in the business of manufacturing and dstributing fresh Dim Sum food products from a facility based in Sparks Nevada. The MOU anticipates that the Company will issue, subject to shareholder approval, a fully diluted sixty-seven percent (67%) interest in its common stock in exchange for the securities of CaiE. The MOU further provides that CaiE lend the Company fifty thousand dollars ($50,000) on a convertible basis prior to the consummation of the transaction. The anticipated transaction will require the Company to convert existing debt into shares of its common stock, increase the number of authorized common shares, elect a new Board of Directors and change its name to reflect the new business. CaiE had loaned the Company $50,000 as of the filing date of this report, under terms not yet determined.
It is therefore this author's opinion that Caie Foods is attempting a reverse merger into AVNI.
CAIE'S MISSION STATEMENT: "We at CaiE Foods are dedicated to manufacturing the Freshest, Tastiest and Trendiest dim sum products available in the industry today." http://www.caiefoods.com/ DIM SUM: The Chinese dumplings, buns and other snacks that are traditionally eaten with tea.
In southern China, gathering for dim sum and tea, a practice called yum cha, is especially popular.
____________________________________________________________________________________________________________________________________________________________________________________________________ Outstanding Shares as of November 16, 1016: 1,034,030
Float as of January, 2016: 870,505 Consolidated Security Filings: http://www.otcmarkets.com/stock/AVNI/filings