Since the divestiture of the Company's subsidiary, the Company has not engaged in any new operations. During the past year, the company has investigated several merger / acquisition opportunities, but has not concluded any transaction. This has been mainly due to the fact that the due diligence conducted by company officials and or professional advisors has deemed the proposed deals unsuitable for the company or too risky a transaction.
At the present time, the Company continues to seek, investigate, and if warranted, acquire an interest in a business opportunity. The Company does not propose to restrict its search for a business opportunity to any particular industry or geographical area and may, therefore, engage in essentially any business in any industry. The Company has unrestricted discretion in seeking and participating in a business opportunity, subject to the availability of such opportunities, economic conditions and other factors.
I've seen this same wording on other filings. Seems they just copy and paste this stuff.
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