was sind die denn für Beteiligungen eingegangen, ohne dass wir als Investoren davon auch nur im entferntesten in Kenntnis gesetzt wurden??? During the third quarter of fiscal 2007, we continued with our strategy of identifying and investing in business ventures that we believe will assist in the expansion of our business operations. On July 12, 2007, we invested $1,063,830 in the form of cash in a newly set up privately held PRC company, Nanning Bulk Commodities Exchange Corporation Limited ("NNBCE"), for an 80% equity interest through FTGX. The contribution of assets by FTGX is viewed as a transfer of assets between FTGX and NNBCE which are under common control. Since then, NNBCE became a subsidiary of FTGX and was accounted for under cost method of accounting. NNBCE is engaged in providing logistical e-commerce service but it has not commenced operations since its date of incorporation. On September 12, 2007, we invested $465,425 in the form of cash in Guangxi Bulk Sugar & Ethanol Exchange Corporation Limited ("GBSEE"), a newly set up limited liability company in Nanning, PRC, for a 35% equity interest through NNBCE. On the same date, All China Logistics Online was entrusted as nominee owner of GBSEE to hold 20% of the fully paid up capital of GBSEE on behalf of NNBCE, with NNBCE as the primary beneficiary. Upon the request of NNBCE, All China Logistics Online is required to transfer its ownership in GBSEE to NNBCE or to designees of NNBCE at any time for the amount of the fully paid up capital of GBSEE. In accordance with Financial Accounting Standards Board ("FASB") Interpretation No. 46R "Consolidation of Variable Interest Entities - An Interpretation of ARB No. 51" ("FIN 46R"), NNBCE is deemed to hold the primary beneficial interest of an approximately 55% equity interest in GBSEE and is accounted for as a subsidiary of Forlink. GBSEE is engaged in providing logistical e-commerce service but it has not commenced operations since its date of establishment in September 2007. On September 17, 2007, we invested $332,446 in a privately held PRC Company, Ningbo Bulk Commodities Exchange Corporation Limited ("NBBCE"), for a 25% equity interest through BFHX. NBBCE is engaged in providing logistical e-commerce service but it has not commenced operations since its date of incorporation. All these investments are in line with our strategy to expand into new business areas and to expand our business not only internally but through investment and /or acquisition. Finde ich ja grundsätzlich interessant! Doch ist das nicht mal eine Bekanntmachung beim SEC wert? Mal sehen was sich sonst noch finden läßt. Gruß Bow |
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