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Friday, May 18, 2012 10:17:56 PM
Here the statement from 10Q
TEM 5.
OTHER INFORMATION
On July 27, 2011, the Company entered into a non-binding letter of intent to enter into a new business combination transaction with AWG International, Inc. (“AWG”), a Nevada corporation, with a view to enter into a new acquisition agreement to acquire AWG as an operating subsidiary. To date, a definitive acquisition agreement has not been executed. The Company is conducting "due diligence" review and AWG has provided its financial statements for auditing procedures. The "due diligence" review and completion of AWG audited financial statements are conditions which must be satisfied before entering into a formal definitive acquisition agreement with AWG. As of March 31, 2012, the Company is still pursuing this possible business combination.
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