You have no idea.....I’ve done enough DDs on this merger. One of DDs talked about them initially going to merge into a defunct Japanese shell (non-reporting and non-current) that’s listed in OTC with the help from their Japanese investment partner, but it would require them to take a lot of effort and time to catch up with all the filings and to make sure there is no mistake in them in order to be qualified for QB listing and national exchange. After careful consideration and due diligence, they decided to go after the EMPM shell by paying $350,000 usd. This was the cause to the delay in getting listed in US for 8 months. They started their due diligence in Oct, 2018 and have been preparing since then. They are ready to change name and symbol anytime now. Share swap is in the process and Korean shareholders expect to receive new shares in mid-September (new share will have a new trading symbol).
Article Dated 2018.10.16 The relocation of the US headquarters and the listing of OTCQB, a new electric vehicle specialist, is expected to accelerate.
Earlier this month, a team of certified US accountants visited Saean to review its accounting records for the past two years and is expected to be open to the Nevada State Registration Authority later this week, as no problems are found in the process.
The benefits of Nevada's state-registered companies are known to be the most beneficial and supportive sectors in the United States.
Chairman Saean Lee Jung-yong plans to register his headquarters in Nevada and base his actual office in LA's Enerheim, creating a one-seat, two-trillion-won effect that can be effectively done when doing business and even receive California's electric vehicle support.
Currently, Saean is closely coordinating with Wall Street's parent investment company to mass-produce small electric vehicles and reverse three-wheeler two-wheeler WiD-U in the US Also, the two models of Saean, WiD and WiD-U, are planned to be brought to Korea after undergoing certification procedures in the US
Even if Saean's headquarters are relocated to the US, its main R & D center will remain in Hanam. It will also establish R & D centers in Los Angeles and Tokyo, Japan, which will operate LA and Tokyo Laboratories under South Korean control.
Saean plans to develop R & D centers in Hanam City even if its headquarters are moved to the United States. The company will set up R & D centers in Los Angeles and Tokyo, Japan, but will have core research centers in Korea. The company has begun development of electric forkrain and electric trucks after the establishment of Saean-Jepan, a Japanese subsidiary. In addition, the company plans to establish a joint venture Saan Wanxiang Enterprise in Macao and raise funds for development.
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