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Replies to post #8497 on Renavotio Inc (fka RIII)
SC777
08/14/20 7:31 PM
#8499 RE: phrocks #8497
PNKBULLSHT
08/15/20 8:07 AM
#8500 RE: phrocks #8497
Recent Acquisitions - The terms and conditions of the Renavotio Infratech, Inc. and Utility Management Corp. acquisitions were not completed in total until after the end of the second quarter. Therefore, the financials will not be consolidated with that of the Company's until the third quarter of 2020. This should complete the transition of the historical financials related to the existing overseas subsidiaries, including the completed cancelation of 30 million shares, the proposed spin-off of all of the previous operating subsidiaries, and the final issuance of 6 million shares required to complete the terms and conditions pursuant to the Stock Exchange Agreement signed on April 3, 2020.