Replies to post #2347 on Hutech21 Co., Ltd. (CLGZF)

[newpontiac]

e-ore

Hutech21 is now a subsidiary of Hutech HK according to the 10-K.

Park and his close allies (patent owners and family)are still the majority owners.

Parent company which we own is Hutech BVI.


Is this not the way you see it?

[newpontiac]

e-ore

Hutech21 is now a subsidiary of Hutech HK according to the 10-K.

Park and his close allies (patent owners and family)are still the majority owners.

Parent company which we own is Hutech BVI.


Is this not the way you see it?

[TaoChange]

I remember that the new exchanged shares of 66,000,000 are kept and restricted in the treasury of the company, so that the new shareholders from Hutech HK will not be entitled to sell their shares in the public market for the time being, according to the exchange agreement.

And, Mr. Park is still the majority shareholder of BVI since he is the majority shareholder of HK as well as his prefered shares (and since he is the majority shareholder of the parent company in Korea.)

What I don't quite understand is that: What is the benefit of Mr. Park and Hutech21 Korea through this "acrobatic" mergers.

At least, I believe that "Hankook Jungsoo Industries Co. Ltd," the 10.3% owner of Hutech HK, is currently held by a public fund in Korea, which means that Mr. Park should follow appropriate business rules.

I am waiting for the 10Q for the first quarter, hoping that it will give us some explanation.