PINKSHEETS:MONA www.monacorporation.com is pleased to announce that it has identified a special purpose company (SPC) for the planned merger with a previously announced Chinese based company. That company name is Fu Lu Shou Limited, a Belize company. Mr.Garr Winters MONA current secretary, and X CEO said "For those curious about the name, the name means: success, prosperity, happiness and longevity (good health). We have received many inquiries about the soft costs and the costs of this transaction. This is like any other transaction, where the buyer pays their costs and the seller his own. Sometimes the seller may assist with soft costs but those costs are added to the purchase price. We have learned a lot, from the previous China merger deal and we believe we are on target to close this transaction in the next 45 days, as planned."
In other company updates, Winters added "We are being asked about IFGX and Cash Next (the existing assets of MONA). They will be mothballed. We will actively look for a buyer for these assets, however right now, we are focused on closing this new China merger only. The purchase price will involve cash and stock. This is a good size China based company with a South Korean connection. They are in a technology based mass distribution industry, ranked # 5 from top 50 players in their industry and a very serious contender.
We believe that this is the type of merger MONA shareholders have been looking for, and a type of merger with a potential to give our share price some serious lift, and upward momentum.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
SOURCE MonArc Corporation (MONA)
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