In September, 2003, Xynergy commenced merger negotiations with Intervest Group, Ltd. (See Exhibit 10.34, attached hereto). A definitive agreement was signed in early November, 2003. All finalized documents and necessary disclosure information will be filed subsequently via an 8K within the.required time-frame.
Intervest is a Nevada corporation with several communications equity joint ventures in China. (www.intervestchina.com) Intervest infuses capital assets in exchange for percentage ownership and profit sharing. Currently, Intervest has joint ventured with the following four Chinese companies: Integrated Information (China) International, Ltd., Nanyang (Shantou) Electric Cable Co., HuaLian Communication co., Ltd., and Wanshitong Communications Co. .According to its June, 2003 audited financials, Intervest holds assets in excess of $61 million (U.S.D.) Addiitonally, Intervest expects a growth of 5% in its September 30, 2003 financial report. Please see AuditorOs Report attached as Exhibit 10.35, also see section entitled OItem 2, Plan of Operation.
Look at their revenue for 2003 looks good but hey you saw Enron!?!
XYNY should release an 8k this week regarding this..
1. IGRP is to acquire controlling interest in XYNY via stock purchase which is in the control of CEO, Raquel Zepeda