I don't think it's a reverse merger exactly. The way I understand it, IOVE subsidiary Italian Oven Intl. formed Richwood Eco Ventures a couple months ago. Richwood Eco Ventures seems to be buying the Nicaraguan company.
I think it's a little more than flooring, seems to be a wood company offering exotics. I did a Google translate of their website, I'll post it all Sunday night.
IOVE has all kinds of subsidiaries, and they mention spinning them off in the filings/prs. They have:
Envirocare Corp. (don't know what it is)
Telecom Tools (trying to patent and market a tool for Telecom industry)
Domain Management (owns about 100 Costa Rica domains such as the one they have content on www.reservations.cr)
Richwood Eco Ventures -- something to do with Rich Corporation www.richwood.com.ni
Bankruptcy Claims Fund Inc. -- bought $8,000,000 worth of Lehman Brothers Bankruptcy claims
Italian Oven Technology recently signed distributorship with Acer Electronics
Italian Oven Financial nothing really parent of Bankruptcy Fund
Italian Oven Travel & Entertainment so far only content for www.reservations.cr (signed with American Express subsidiary to provide the hotel packages)
Italian Oven International -- control the Richwood deal.
So it looks like they're building a conglomerate of gooblah, but with the half built website, who knows.
DISCLAIMER: I am a dirty, rotten penny investor. I am not compensated by any stock. I've asked them to pay me, they refuse. I buy stock on the open market. I sell it there. I like money. I am greedy. I am under the care of a psychiatrist.
