China reverse merger wire

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Chinese Blueberry Company Goes Public with Bulletin Board Shell
Posted July 20, 2010 9:51AM PST

A Chinese company that produces blueberry seedlings went public in the U.S. through a reverse merger with the Bulletin Board-listed shell company iDecentrix.

Investors in Honour Bond Ltd., which owns the Chinese blueberry company, received about 49.9 million shares of iDecentrix, or a 99.7% stake.

Joseph Meuse, president of iDecentrix and founder of the Washington, Va.-based reverse merger consultancy Belmont Partners, canceled almost 111,000 shares of Honour Bond due to him and resigned.

Diamond Award Limited, a former investor in Honour Bond, received 2.4 million shares of iDecentrix. Diamond Award is owned by Tsoi Tik Man, who is now a director of the merged company.

Man previously bought a majority stake in the shell from Belmont for $300,000 in April. Man controls 5.2% of its stock going forward.

The Crone Law Group in San Francisco advised on the transaction.

The merged company plans to change its name to China North Horticulture.

Stock in iDcentrix was trading at $4.50 prior to the July 16 merger.

Filing: 8-K