Company doing what they say????
From the May 14th 10-q Prior to LOI dated May 25th
The Company has entered into negotiation with a private owned company in China for a possible merger and joint venture and will announce the terms and condition of such merger or joint venture if the transaction proceeds and when there is a signed LOI, MOU or a binding agreement.
tick tock???
On May 25, 2010, the Company signed a non-binding Letter of Intent to merge with FHH Sino New Energies Co., Ltd., a Chinese company ("FHH Sino") located in Weihai, Shandong Province of China. FHH Sino is a petroleum storage company that offers petroleum storage tanks and facilities for rental to the petroleum importers/exporters in Weihai, a coastal city in Shandong Province of Northern China.
City of Industry, CA - June 2, 2010 - International Building Technologies Group, Inc. (OTCBB:INBG) announced today that it has signed Letter of Intent to merge with FHH Sino New Energies Co., Ltd., a Chinese company ("FHH Sino") located in Weihai, Shandong Province of China. FHH Sino is a petroleum storage company that offers petroleum storage tanks and facilities for rental to the petroleum importer/exporter companies in China. FHH Sino has made a good faith deposit of USD 230,000 with INBG to execute the signed Letter of Intent.
AI
