Qian Yuan Baixing, Inc. (QYBX): GNAU, 8-K out today http://www.sec.go...

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Bucks4Buckeyes

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Wednesday, 11/23/2011 1:00:07 PM

Wednesday, November 23, 2011 1:00:07 PM

GNAU, 8-K out today

http://www.sec.gov/Archives/edgar/data/1376668/000125529411000748/0001255294-11-000748-index.htm

They sold off their assets of Pro Value LLC to the private company in exchange for common shares (6M to 16M) & a write-off of their $175k debt.

Also they converted the promissory note of $660k. The indebtedness may be convertible at any time (due August 12, 2012) into shares of the company at a conversion price of .05.

This makes a lot of sense, why they held off doing this until the end of the quarter. Good deal for GNAU and now I imagine we will see the pps rise. They will still see benefit and profit from owning stock in Pro Value (even though it is a private company).

All The Best

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