4-Dec-2007
Other Events
Item 8.01 Other Events
SOYO Group Inc. today reported that the Company recently filed an application for listing on the American Stock Exchange. The application has been received by the Exchange, and the due diligence process has begun. The Company hopes to qualify for listing under Option 3, which requires a $2 share price. The Company currently meets all qualifications for listing under option 3, other than the current share price.
The Company's Board of Directors voted to file the application at the current time despite the current share price. The Board believes that the Company will achieve its financial forecast for 2007, as explained to shareholders via Form 8-K on October 10, 2007, and that achieving the forecasted financial results may organically raise the share price.