Phoenix Rising Companies Inc (PRCX)

[TOUCAN]

$PRCX potential of 3 acquisitions deal closings

- Emvera Technologies, LLC
https://phoenix-cos.com/phoenix-rising-companies-announces-definitive-mou-to-acquire-high-tech-medical-products-distribution-company/

- Henan Wandi Mining Product Development Co., Ltd
From 05/23/2022 10-Q filing
https://www.otcmarkets.com/stock/PRCX/disclosure

On February 24, 2020, 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 the Company will effect an acquisition of Wandi by acquiring from the Seller all outstanding equity interests of Wandi. Wandi owns 49% of a coal mine known as You Zhou Shenhuo Kuanfa Mining Company Ltd., (the “Mine”), with Zhengshou Yshong Coal Industry Co., Ltd. (a State-owned enterprise) owning the remaining 51% of the Mine.

Pursuant to the Agreement, the Company issued 60,000,000 restricted common shares of stock of the Company to the Seller, valued at $24,522,000. The obligations of the parties to complete the acquisition is subject to the fulfillment (or, in some cases waiver) of due diligence and certain closing conditions. Upon closing of the acquisition Seller shall transfer to Company 100% of the issued and outstanding equity interests of Wandi, which will then become a wholly owned subsidiary of the Company.

As of March 31, 2022, the Company does not have control of Wandi. As a result, the Company determined not to consolidate Wandi and recorded share issuance for acquisition of Wandi as a subscription receivable for $24,522,000, until the common shares of Wandi are delivered.

- Morpheus Robotics
"Massimo Strada, CEO of Morpheus is credited with being the inventor of Morpheus A.I. IoT technical platform which CISCO hailed as having the unique technical leadership of the segment" $CSCO

https://phoenix-cos.com/phoenix-rising-companies-announces-mou-to-acquire-morpheus-robotics-a-developer-of-medical-aritificial-intelligence-and-devices/