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Posted On: 03/28/2017 8:11:49 PM
Post# of 30038
The first three pages give a great summary of all various deals. However, what caught my eyes is SeD took full control for $25,00??? All this has done is buy some breathing room until SeD comes up with more money. Disappointing, to say the least.
"On March 6, 2017, the Company entered into a Securities Purchase Agreement (“SPA”) with Amarantus Bioscience PTE, Ltd. (the “Investor”), pursuant to which the Investor purchased 250,000 shares of the Company’s Series F Preferred Stock (the “Series F Preferred Stock”) for $25,000. The Investor is a corporation owned by Mr. Chan Heng Fai. This investment followed the execution of a non-binding Letter of Intent between the Company and SeD Biomedical Inc. (“SeD Biomedical”), a subsidiary of Singapore eDevelopment Limited. Mr. Chan Heng Fai is an Executive Director and the Chief Executive Officer of Singapore eDevelopment Limited. He is also a director and the sole shareholder of Hengfai Business Development Pte. Ltd, the controlling shareholder of Singapore eDevelopment Limited. Pursuant to the SPA, there has been a change in control of the Company, as described in Item 5.01 below."
"On March 6, 2017, the Company entered into a Securities Purchase Agreement (“SPA”) with Amarantus Bioscience PTE, Ltd. (the “Investor”), pursuant to which the Investor purchased 250,000 shares of the Company’s Series F Preferred Stock (the “Series F Preferred Stock”) for $25,000. The Investor is a corporation owned by Mr. Chan Heng Fai. This investment followed the execution of a non-binding Letter of Intent between the Company and SeD Biomedical Inc. (“SeD Biomedical”), a subsidiary of Singapore eDevelopment Limited. Mr. Chan Heng Fai is an Executive Director and the Chief Executive Officer of Singapore eDevelopment Limited. He is also a director and the sole shareholder of Hengfai Business Development Pte. Ltd, the controlling shareholder of Singapore eDevelopment Limited. Pursuant to the SPA, there has been a change in control of the Company, as described in Item 5.01 below."
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