QLY Biotech Group Corp (LQLY)

[splintered sunlight]

Wonderful

[Big Brother]

Expert Market today.

[splintered sunlight]

I will - thank you.

[Big Brother]

I highly recommend reading this, it is an excellent explanation of how the deadlines work and when companies, who are delinquent in their filings(either SEC reporting or OTC Markets reporting) go from Pink or Pink Limited Info to Expert Market.

Fact sheet about filings and otcmarkets deadlines including special rules pic.twitter.com/PjSzwQrsxe

— Schito (@Schito_74) June 14, 2023

[splintered sunlight]

Can you please explain how this works?

Why is it in a "Grace Period"?

Why is it going to the Expert Market?

Thank You

[Big Brother]

Grace Period now, 15 more days and its headed to the Expert Market.

[Big Brother]

Latest news on the merger, according to the translation, sounds like they are working with GRNQ and conducting an audit, in order to try and move to NASDAQ. That wont be easy, they will need an underwritten guaranteed placement of at least $40M to do so..... but supposedly the company is valued at around $1B US dollars now from what I've read, so who knows.

http://news.sohu.com/a/667046772_120968789

[Big Brother]

Sounds like the RM is getting close, lets see what the final share structure and starting price is.

http://k.sina.com.cn/article_2599106951_9aeb3987001015joj.html

[Big Brother]

That was a fast name/symbol change, the change of control was just last month, most Chinese reverse mergers your lucky if they get the name/symbol change done in 6 months, if not a year or more.

[Renee]

Azar International Corp., AZIC, changed to QLY Biotech Group Corp., LQLY:

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

[Big Brother]

According to an article this week, it sounds like this will be used for Qingdao Qingliyuan Biotechnology Co., Ltd and their subsidiaries, including Yihexiang, the probiotic pork stores I mentioned in the previous posts, which should be valued at somewhere around $100M USD.

http://www.scgqt.org.cn/touzi/2022/0810/082022_95558.html

http://qlyysj.com/

[Big Brother]

If I were speculating on what merger this shell will be used for, I'd say this seems the most likely....Zhongyi Zhixin, or possibly Qingdao Yishang Xingxuan Food Co which they apparently have a large investment in.

They are in the process of opening 200 stores which sells probiotic pork under the brand name Yihexiang currently valued @ 720M Yuan ($107M USD).

http://www.zhongyizhixin.net/sy

https://www.sohu.com/a/487015775_121187197

Just a best guess though, not 100% sure. Also, no way of knowing what the final share structure will be, only 75M a/s though so that's likely going up as most Chinese's companies have more than that outstanding.

[Big Brother]

New Chinese change of control today.

https://www.otcmarkets.com/filing/html?id=15941041&guid=7AU-kK4N_tjSJth

Looks like this is the guy.....

http://yihexiangshengxian.com/ppcsr

https://www.sohu.com/a/555202119_121123759