RM done. Looks like a big one. OS 79 million, insiders holding 95%.
Read the 10-12g, lots of info in it.
On January 15, 2018, we acquired all of the issued and outstanding shares of the capital stock of PBG in exchange for 46,839,439 shares of common stock and 19,000 shares of Series A Convertible Preferred Stock (“Series A Preferred Stock”) pursuant to an Exchange Agreement dated as of November 17, 2017 (The “Exchange Agreement”) with the former stockholders of PBG. Each share of Series A Preferred Stock was convertible into 1,000 shares of common stock and were so converted on April 18, 2018. PBG was the successor by merger to PBG Water International Solutions, Inc. a Delaware corporation which had been formed on August 4, 2016.
In addition to our acquisition of PBG, in December 2017 we formed QHY Water Solutions International Corp. a Nevada corporation (“QHY”). QHY owns 51% of the capital stock of QHY New Zealand LLC. A Nevada limited liability company, and QHY Oceania S & T Co., Ltd., a New Zealand company.
The acquisition of PBG was accounted for as a “reverse merger”
Business Overview
On April 3, 2017, we entered into a License and Supply Agreement (the “License Agreement”) with Beijing QHY Environment S&T Co. Ltd. and Mr. Mao Xu, pursuant to which we acquired the exclusive right to 21 patents and related technologies for the treatment of wastewater. The License Agreement was amended in certain respects on June 22, 2017. The patents subject to the License as amended include two international patents and 19 Chinese national patents covering a variety of compositions, processes and equipment which can be used to treat wastewater. The agreement grants us the worldwide exclusive right to use the technologies which are the subject of the License for a term extending through June 30, 2037, or, if later, the last to expire of the patents which are the subject of the License. The patents relate to various powders, methodologies and equipment useful in the treatment of wastewater.
We intend to recruit personnel in the United States to commence efforts to market solutions for the treatment of wastewater based upon the intellectual property acquired pursuant to the Licensing Agreement. These solutions include stand-alone processing plants designed to be transported, housed and maintained in standard shipping containers and mineral based powders used to treat the subject wastewaters.
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