Check out JNTX..Big news coming this week. Low float and PPS should be moving higher soon.
NEWS !!! Jeantex Group Signs Agreements to Acquire Majority Stake in Southeast Asian Company and Patents for Multiple Green Technologies
Feb 3, 2010 2:16:00 PM
2010 GlobeNewswire, Inc.
LOS ANGELES and BERLIN, Feb. 3, 2010 (GLOBE NEWSWIRE) -- Jeantex Group, Inc. (OTCBB:JNTX) (Berlin:LEX) today announced that the company has Indones signed agreements to acquire a seventy-percent equity stake in Pt Ober Indonesia, anian corporation, and patents for multiple green technologies including synthetic asphalt, roofing materials, bio-fuels, and cosmetic products.
The stock purchase agreement with Pt Ober Indonesia is scheduled to close on March 05, 2010, subject to satisfactory due diligence review. The company intends to relocate this factory to another area in Southeast Asia for further expansion after the expiration of the lease within the next several months and also establish a new factory in the U.S. for North American markets later this year.
The business cooperation agreement for the patents is made with Professor Bernadus Prawoto of Jakarta, Indonesia, who has successfully invented and patented innovative green technologies, including synthetic asphalt, roofing materials, bio-fuels, and cosmetic products. According to Professor Prawoto, the new cracking technology he has developed for bio-fuels is superior to any available in the market today. Professor Prawoto has agreed to assign all applicable existing and future patents developed by him and transfer all related technologies for the production of synthetic asphalt, bio-fuels, and other products to HJ Construction Materials, Inc., of which he will own 30% and Jeantex Group will own 70%.
The Company will update on the progress of these transactions and new developments next week.
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