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Sunday, April 07, 2019 3:02:21 PM
The Company had previously announced a proposed merger transaction whereby OWDPI would merge with Tonner Doll Company, Inc. ("Tonner"), a New York corporation with a successful history of marketing and sales of collectible dolls. The Company formed TOW for the purpose of taking initial steps to begin production of dolls under the combined Tonner-One World banner. Following the formation of TOW, and prior to the closing of the proposed merger transaction, management of the Company and of Tonner determined it to be in the best interests of the parties to terminate the merger and explore other opportunities. Through the formation of TOW, the Company and Tonner have increasing opportunities to work together, and the Board of Directors of the Company has determined it to be in the best interest of the Company to change its name to Tonner-One World Holdings, Inc. to better reflect the combined focuses and prior historical successes of the two companies.
Read General Notes page 20 here: https://www.otcmarkets.com/filing/html?id=11556964&guid=vBV3UetBNHfXg3h
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