Phoenix Rising Companies Inc (PRCX)

[tradersam1]

“3. The application of Kuanfa Company stated that it had no factual and legal basis in the original judgment to assume the repayment liability. According to the reorganization agreement, Wandi Company transferred its mining rights to Kuanfa Company, and used its main assets such as houses, shafts, machinery and equipment as capital to invest in Kuanfa Company. The court of first instance found that Wandi Company had not cancelled but actually The above has been insolvent, and it is judged that Kuanfa Company shall bear the repayment liability within the scope of the 49% equity of Wandi Company.”

And a quick search of Kuanfa company opens up the sec document showing rssv owns it. “
On February 24, 2020 Resort Savers, Inc. (“RSSV” or the “Company”) entered into a Purchase Agreement (the “Agreement”) with Mr. Liu FaKuan (“Seller”), the sole owner of Henan Wandi Mining Product Development Co., Ltd. (“Wandi”), a corporation organized in the People’s Republic of China (“PRC”), pursuant to which, among other things and subject to the terms and conditions contained therein, the Company will effect an acquisition of Wandi by acquiring from the Seller all outstanding equity interests of Wandi (the “Acquisition”). Wandi owns 49% of a coal mine known as You Zhou Shenhuo Kuanfa Mining Company Ltd., (the “Mine”), together with Zhengshou Yshong Coal Industry Co., Ltd. (a State-owned enterprise), which owns 51% of the coal mine.”