On July 11, 2013, we issued an aggregate of 10,000,000 shares of restricted common stock to Taurus Financial Partners, LLC (“Taurus”), an independent service provider that assists us with our ongoing Securities and Exchange Commission (SEC) filing and financial reporting requirements. We valued these shares at $26,000, or $0.0026 a share, which was the closing price of our common stock as quoted on the OTC Bulletin Board on the same day. In connection with these issuances, we relied upon the exemption from the registration requirements pursuant to the provisions of Section 4(2) of the Securities Act as a transaction by an issuer not involving any public offering. By virtue of their relationships with us, Taurus had access to all relevant information relating to our business and represented that it had the required investment intent. In addition, the securities issued bore an appropriate restrictive legend.
As of July 11, 2013, we had 210,000,000 shares of its common stock issued and outstanding.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SW CHINA IMPORTS, INC.
Dated: July 12, 2013
By:
/s/ Seon Won
Seon Won
President and Chief Executive Officer
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