31 May 2024listing compliance notice▼ Bad
China Dongsheng International, Inc. withdrew a registration statement, abandoning the offering it covered.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 Mar 2024listing compliance notice▼ Bad
China Dongsheng International, Inc. withdrew a registration statement, abandoning the offering it covered.
25 Sept 2023listing compliance notice▼ Bad
China Dongsheng International, Inc. withdrew a registration statement, abandoning the offering it covered.
26 Sept 2008listing compliance notice▼ BadMajor
China Dongsheng International, Inc. deregistered its securities, ending its obligation to file reports with the SEC.
21 Aug 2008auditor change▼ BadMajor
On August 15, 2008 the company's auditor, Bagell, Josephs, Levine & Company, resigned. The filing says its reports for the years ended June 30, 2007 and 2006 had no adverse opinion and there were no disagreements, and the company is still looking for a replacement. This follows several late-filing notices since 2007; the filing does not link them to the resignation.
11 July 2008material agreement● NeutralMajor
On July 7, 2008 the company, through its subsidiary Jilin Dongsheng, agreed to buy a two-story manufacturing facility, land use rights over 34,830 square meters, other facilities and five production lines with aging racks from Jilin Dongsheng Weiye Bio-Engineering Group, for about US$6.23 million in cash (RMB 42,509,080 for property and RMB 230,800 for equipment). 60% is due by July 31, 2008 and 40% by December 31, 2008, but legal title only transfers on the fifth anniversary of the agreement. The seller is 60% owned by CEO Aidong Yu and 40% by Huizhu Xie, so this is a related-party deal; the filing says the interests were disclosed to the boards, a June 26, 2008 independent valuation was received, and the deal was unanimously approved.
25 Feb 2008material agreement▲ GoodMajor
On February 19, 2008 the company signed a letter of intent with Mr. Zhang Qiang to acquire the right to use 3,133 acres in Jiaohe, Jilin Province until February 7, 2034, plus about 18.8 million ginseng plants planted there since 2004, for $8,965,900. It has already paid $7,328,708 and will pay the remaining $1,637,192 by March 31, 2008. This is a new line of business beyond the supplement and personal care products the company already sells; the press release describes it as a step toward making its own raw materials, and its $132 million crop value in 4 years is a company estimate based on today's ginseng prices.
23 Jan 2007business combination● Neutral
A second amendment to the same 8-K, filed partly to add a Financial Advisory Agreement between Dongsheng and Warner Technology and Investment that was left out of earlier filings. It also corrects the post-closing share count to 26,350,457 common shares (previously 30,000,000), with 3,649,543 Series A and 1,762,472 Series B preferred; the deal terms are otherwise as in Amendment No. 1.
17 Nov 2006business combination● NeutralMajor
Amendment to the November 9 8-K that changes some deal terms: the stock issued to ASI holders is now 18,153,934 common shares (down from 21,803,477) plus 1,762,472 Series B preferred, and after closing there are stated to be 30,000,000 common shares (the filing's text is unchanged here). It also adds restructuring agreements: Dongsheng's former managers run the company and receive its net profits under an entrusted management agreement, and majority holder Huakang Zhou assigns his voting rights and pledges his ASI and company shares to Dongsheng's former members. The head office moves to Jilin, China.
9 Nov 2006business combination● NeutralMajor
Notice that the board will change because of the ASI deal: the old officers William Weiss, Michael Suleski and D. Michael Bridges resign, and Aidong Yu (Chairman, CEO, CFO), Huizhu Xie and Dekui Wang take over. Before closing there were 8,196,523 common shares outstanding; no shareholder vote is needed. This continues the reverse merger and ends the software founders' control.
9 Nov 2006business combination● NeutralMajor
The company, then called PaperClip Software, said it acquired American Sunrise International (ASI) in a share exchange for $280,000 cash plus new common and Series B preferred shares that would equal 98.7% of its common stock. ASI's China subsidiary Dongsheng makes nutritional supplements and personal care products, and the software business is not to be continued. Former PaperClip holders would keep 1.3% (heavy dilution), and PaperClip's old business, assets and liabilities are to go into a subsidiary whose shares are paid as a dividend to holders of record on November 6, 2006.