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illegal_alias

07/30/19 2:09 PM

#24 RE: cspratt15139 #22

From the last 10K, page 20

TEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS



The following sets forth information, as of June 30, 2018, with respect to the beneficial ownership of the Company's Common Stock, no par value, by each person known by the Company to be the beneficial owner of more than five percent (5%) of the outstanding Common Stock, by each of the Company's directors, and by the officers and directors of the Company as a group:



Beneficial Owner Shares Owned Beneficially and of Record Percent of Class
Carlee Electronics Pte. Ltd.
159 Gul Circle
Singapore 629617 25,800,000 64.5 %
Officers and directors as a group (two persons) (1) (1)


(1) By virtue of Dr. Sun Tze Whang's direct and indirect ownership of Carlee Electronics Pte. Ltd., he may be deemed the beneficial owner of the shares held by Carlee Electronics Pte. Ltd. in the Company.

Might one suppose that Carlee (which if I recall correctly is on the HK Exchange, might be the r/m candidate? If Carlee is getting all of its components made in China, with the trade war going on it might be beneficial to have a US branch. Just a WAG.