Home > Boards > US OTC > Miscellaneous > Flatworld Acquisition Corp. (FWLAF)

100k market cap and float of 2.8 million.

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Werbe Member Level  Wednesday, 12/19/18 01:57:39 PM
Re: Amber786 post# 27
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100k market cap and float of 2.8 million. They belong 2 a larger company who seems 2 be just holding this until the right merger or buyout comes along? Legit website, no dilution for at least 5 years. Very low liabilities also, most tied to affiliate of company.

As of November 14, 2018, there were 2,869,375 ordinary shares, no par value per share, of the registrant outstanding.

FlatWorld Acquisition Corp. (the “ Company ” or “ FlatWorld ” ) is a blank check company formed on June 25, 2010 as a British Virgin Islands business company with limited liability for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation or contractual control arrangement with, purchasing all or substantially all of the assets of, or engaging in any other similar business transaction, one or more unidentified operating business or assets ( “ Business Transaction ” ). The Company ’ s efforts in identifying a prospective target business for its Business Transaction will not be limited to a particular industry, geographic region or minimum transaction value, but will focus its search on identifying a prospective target business in either (i) the global business services sector or (ii) emerging Asian markets. On June 29, 2011, the Company changed its fiscal year solely for financial accounting purposes such that the Company ’ s fiscal year will now end on December 31st of each calendar year. The Company had initially adopted a fiscal year end of June 30th solely for financial accounting purposes.

On December 31, 2013, the Company entered into an agreement with FWC Management Services Ltd and FlatWorld Capital LLC, an entity controlled by three officers of the Company, to assign FWC Management Services Ltd. ’ s interest in the Administrative Services Agreement to FlatWorld Capital LLC. Under such agreement, FlatWorld Capital LLC will continue to provide the services previously performed by, and on the same terms of, FWC Management Services Ltd, and all previous fees outstanding will be payable to FlatWorld Capital LLC.


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