Ascenda Corporation has been in continuous trading operations for 17 years with bi-directional trading and import and export capabilities in China, Taiwan, Korea, Japan, Indonesia, Mexico, Brazil, Argentina, United Kingdom, United States, France, Spain, Germany, Italy, and Israel. Ascenda currently has offices in the U.S., China, Australia, Mexico and Spain. Ascenda's original investors included The China Development Group, which was the largest investment banker in Taiwan, and Mr. Donald Ruan who has over 40 years of experience in global trade. Mr. Ruan has been involved in distributorships in Asia for E&J Gallo Winery, Mellita, Philco, Frigidaire, Zenith, Audio Research, GES/LLMO, Parker Hannifin, Hendrickson, Dana, TRW, Farr, CNH, J.I. Case, and Snap-On Tools among others. Following the closing, Mr. Ruan will remain as President and CEO of the Company's Sourcing Operations along with his experienced team.