I'm running out of posts today, but ponder this, why would bendis put all his effort into this acquisition of 40% of tpdi Beijing if he felt the sec investigation of ssty would squash it, why would Li Ning and his China partners put their time and effort into this transaction if they felt it would be a waste of time and why would Jim and Mike waste their time on it if they felt the sec would not allow it. I think everything is now coming to a conclusion and a good conclusion for all concerned.
SSTY's president, Michael Cimino, added: "This restructuring completes the process where SSTY envisioned TPID as a totally independent concern controlling all aspects of the anti-counterfeiting business. With the acquisition of an interest in the JV, TPID is better positioned to deliver as envisioned, and SSTY, in addition to the royalties it may receive, will be able to shift its primary focus to Globe Staff Consulting and its tagging and tracking business and related companies."
Li Ning, the Chinese JV's CEO, remarked: "We believe that these developments bring together the best that the U.S. and China can offer to create the partnership needed to deliver China."
Richard Bendis, TPID's president, said: "As a result of these ongoing restructuring efforts, TPID's new management hopes to strengthen the corporate structure, management, and technical teams in both the U.S. and China needed to best perform contracts in China and elsewhere. TPID's new management believes that its ongoing restructuring efforts will help maximize shareholder value."
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