Friday, October 13, 2006 11:04:18 AM
Could we be consolidating the entities in the financials????
Question board. I was looking over some PR's on other stocks and noticed this stock did an asset transfer to consolidate two companies together.
Wondering if this is happening here.
See Pr below!
Souvenir Direct and Capstone Industries to Consolidate
Tuesday October 10, 1:07 pm ET
COOPER CITY, FL--(MARKET WIRE)--Oct 10, 2006 -- China Direct Trading Corp. (OTC BB:CHDT.OB - News) announced today that the Company's wholly owned subsidiaries, Souvenir Direct Inc. (SDI) and Capstone Industries, Inc. (CII), will consolidate into one company which will operate under "Capstone Industries, Inc." China Direct expects the consolidation to be consummated within the next 30 days. The consolidation will be achieved by an asset transfer from SDI to CII and then the dissolution of SDI.
"Consolidating Souvenir Direct into Capstone makes good business sense on several levels -- in terms of eliminating duplicative overhead, giving Capstone's proven management control over China Direct's complementary business lines and allowing me to focus on my strengths, strategic and business development for China Direct," said Mr. Howard Ullman, Chief Executive Officer and President of China Direct. "China Direct has great confidence in the ability of Stewart Wallach, the current senior executive of Capstone Industries, Inc. and the Chief Executive Officer and President of the consolidated entity, to grow these business lines," Mr. Ullman added.
All is my opinion, You should perform your own DD to decide what to invest in!
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