KRBF DD
10Q from 5/10/2018 - Reed Petersen pays off all outstanding debt and takes control of company:
In November of 2017, our current majority shareholder and sole officer G. Reed Petersen approached the former sole officer and director offering to pay off the debt of the Company. He agreed to pay the sum of $171,509 and in turn would receive the 142,924,167 shares of stock of the Company. The Company filed a Form 10 with the Securities and Exchange Commission to make it a fully
8K from 6/5/2018 - Reed Petersen sells his interest to Wai Lim Wong for $420,000:
On June 5, 2018, G. Reed Petersen, the sole officer and director of Kreido Biofuels, Inc., a Nevada corporation (the “ Company ” ) entered into a Stock Purchase Agreement (the “ Agreement ” ) with an effective date of June 20, 2018 (the “ Effective Date ” ) in respect to the sale of an aggregate of 142,24,167 shares of common stock of the Company (the “ Control Shares ” ) for an aggregate of $420,000 in cash consideration, to certain purchasers (the “Purchasers ” ). As a result of the Agreement, and the sale of the Control Shares, as of the Effective Date, the Purchasers will hold a controlling interest in the Company, and may unilaterally determine the election of the Board and other substantive matters requiring approval of the Company ’ s stockholders.
On the Effective Date, G. Reed Petersen will resign as an officer and director of the Company.
Also, as of the Effective Date, the Board of Directors will appoint Wai Lim Wong to the Board of Directors, and as the Company ’ s Chief Executive Officer, Chief Financial Officer and Secretary. A summary of background and business experience of Mr. Wong is as follows:
Mr. Wai Lim Wong, age 46, has served as the Director and President of ABV Consulting Limited since June 2016. Mr. Wong served as the Sales & Marketing Manager at Keymax International Development Company Limited, a customer sourcing and management company focused in the money lending industry, since April 2014. Prior to joining Keymax International Development Company, Mr. Wong was an investor with Wing Fung Marine Products Limited, a seafood cultivation company based in China focused on abalones and prawns, from August 2009 to March 2014. Mr. Wong has had a broad range of sales and marketing experience for environmental products such as air purifying systems, cleaning products and energy saving products. From April 2007 to July 2009, he served as a project manager for Tomi Fuji Corporation Limited. Mr. Wong was a sales manager for Goash Health Products Company (China) from June 1990 to 2004. Mr. Wong brings to our board his deep and varied sales and marketing and general business experience.
10Q from 11/13/2018 – plans for acquisitions are put in motion:
Future Operating Plan
We continue to seek acquisition opportunities for the Company. We hope to acquire operating companies based in China, Hong Kong, or other Asian or Southeast Asian countries. We are in initial discussions with several prospective acquisition candidates but have not entered into any binding arrangement with respect to any such candidate. Prospective candidates may be affiliated with current management or significant shareholders.
8K from 4/28/2019 – MOU released on 3 different Chinese companies:
Item 8.01 Other Events.
On 25 th April, 2019, the Kreido Biofuels, Inc. (the “Company”) signed three Memorandum of Understandings (individually an “MOU”) with three companies located in China. The three companies are Jiangsu Baimoxin New Energy Co., Ltd., Meihekou Zhongcheng Yinxin Photovoltaic Agricultural Science and Technology Co., Ltd and Shainhai Mianzhao New Energy Co., Ltd. (each company is a “Potential Acquisition”). In each MOU, the Company agree to purchase up to 100% of the issued and outstanding stock of the Potential Acquisition for terms to be set forth in a definitive agreement. Each MOU requires the definitive agreement be completed within six months of the MOU.
A copy of each MOU is filed as an Exhibit.
Why would a company choose this shell?
Sharestucture – 87.9% held by insiders:
Authorized
300,000,000
Outstanding
195,645,159
Restricted
172,048,417
Float
23,319,370
Updated as of 4/24/2019
NO DEBT!!
Net Operating Loss Carryover from previous operations of $49 Million! $40 million of which (80%) can be used to against future taxable revenues
