NEWS...
On February 14, 2011, Sooner Holding, Inc. (OTC Bulletin Board: SOON) ("the "Company") entered and closed a Share Exchange Agreement ("Share Exchange Agreement"), with certain shareholders, and with Chinese Weituo Technical Limited, a BVI corporation ("Chinese Weituo "), and its shareholders, (collectively the "Chinese Weituo Shareholders"), pursuant to which the Company acquired 100% of the issued and outstanding capital stock of Chinese Weituo in exchange for 19,200 shares of Sooner Holding's Series A Convertible Preferred Stock.
As a result of the Share Exchange Agreement, the Chinese Weituo Shareholders will own 95% of our issued and outstanding common stock on an as-converted common stock basis as of and immediately after the effectiveness of the reverse split as contemplated by the Share Exchange Agreement. Mr. Ang Kang Han was appointed to the Board of Directors of the Company and the Company's executive officers were replaced by the executive officers of Chinese Weituo and its subsidiaries upon the closing of the share exchange. The Company plans to amend its Articles of Incorporation to change its name to Flying Eagle PU Technical Corporation.
Mr. Ang Kang Han, the new Chairman of the Company, commented, "As a leading PU leather company in the industry, we are glad to be public in the U.S. capital market. We think OTCBB is only our first stop, and our goal is to move up to the national market soon."
About the Company
The Company is one of the fastest growing PU leather enterprises in China. Through the Company's subsidiary, ShiShi Plastic Co., Ltd., we provide R&D, manufacturing, marketing of and services for PU synthetic leather products for footwear applications and PVC flip-flops.
Safe Harbor Statement
Take this for what it is worth... I know nothing... Ask my wife.
