Being this is probably a low margin business, I would value this at revs initially or 10/2700 or .0037. This still leaves us 500%+ to go. I'll be partaking in today's action hopefully...
INBG News -- IBNG to merge with FHH Sino New Energies
Thursday, June 3, 2010 8:34 AM
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News for 'INBG' - (IBNG to merge with FHH Sino New Energies)
Jun 03, 2010 (Datamonitor via COMTEX) -- International Building Technologies, a company which is engaged in the manufacturing, marketing and providing equipment and materials to the building and construction industries, has signed a letter of intent to merge with FHH Sino New Energies, a petroleum storage company.
FHH Sino is a petroleum storage company that offers petroleum storage tanks and facilities for rental to the petroleum importer/exporter companies in China. FHH Sino has reportedly made a good faith deposit of $230,000 with International Building Technologies Group (INBG) to execute the signed letter of intent.
Kenneth Yeung, CEO of INBG, said: "INBG intends to merge with FHH Sino by exchanging INBG's common stock with FHH Sino's holding or subsidiary company. This merger will give INBG the opportunity to switch its nature of business into the energy sector, the ability to generate revenue and profit once the FHH Sino commences its operation in early 2011, thus benefits our shareholders in the near future."
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