Shell Stocks; Reverse Mergers; Acquisitions; Zombies; Greys; & All "Other" Plays

[adijas]

CIIT 10Q out.
On October 29, 2018, our Board of Directors approved the acquisition of all of the issued and outstanding securities of Ezytronic Sdn. Bhd., a corporation organized under the laws of Malaysia (“EZY”) and engaged in the business of reselling computer equipment and accessories, in a share exchange transaction for a consideration to be mutually determined by the parties based upon a good faith valuation of the Company and EZY. The acquisition will be made in accordance with the terms of a nonbinding term sheet (“Term Sheet”), which was filed as an exhibit to a Current Report on Form 8-K filed with the Securities and Exchange Commission on October 29, 2018.

Seven Hundred Thousand (700,000) ordinary shares of EZY, representing 70% of the issued and outstanding securities of EZY, are held by Mr. Tan Poh Hee, the father-in-law of Ms. Chuah Su Mei, our Chief Executive Officer and Director. Three Hundred Thousand (300,000) ordinary shares of EZY, representing 30% of the issued and outstanding securities of EZY, are held by Mr. Jerry Ooi Jau Long, our independent director.

We continue to be in active discussions with an operating business affiliated with our executive officers regarding potential acquisitions in addition to those relating to EZY. There is no assurance that we will be able to successfully acquire EZY or any such company or any company in the near future.


Looks there will be another acquisition affiliated to officers. I guess that would be Cloud Ventures http://worldcloudventures.com/

World Cloud Ventures Sdn Bhd (WCV) is a leading integrated information technology solutions and software services provider. We offer world class IT solutions and services in digital lifestyle revolution. Founded by a team of diverse background individuals wanting to create a better tomorrow in ICT application for our daily lifestyle. It all started in 2007 when our founder Darren Tan started Ezytronic Sdn Bhd which grew to become No.1 Premium Reseller for Dell. We strongly believe that digital lifestyle will shape the future and thus World Cloud Ventures Sdn Bhd was born.