The merger will be done WITHOUT DILUTION. BNEU will take 14 million shares of SMGH in exchange of the merger.They know the stock has a LOT of upside potential.
BNEU reported it has an unaudited net asset of $9 million. For the year ended 2006, it recorded an unaudited revenue of $4.6 million with net income of $1.18 million under the Chinese accounting principle. For the year ended 2007, it recorded unaudited revenue of $ 11.8 million with $5 million net income under Chinese accounting principle.
After the completion of this merger SMGH WILL BE GENERATING EARNINGS PER SHARE OF 13 cents.
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