Business
Notice Of Interest To MonArc Corporation (MONA) Shareholders Update
Notice Of Interest To MonArc Corporation (MONA) Shareholders Update.
About this update from Flexpower Inc
[{"type":"text","content":"Beijing, September 1 2008 - MonArc Corporation www.monacorporation.com (Pink Sheets: MONA - News) is pleased to provide this corporate update to its shareholders and followers. Although parts of this update may not be news worthy to some of the company's investing public, the issuer has disseminated this update through a limited reach Pink Sheet news service. Nonetheless, the company sees this as a great way to convey daily activities and updates to its shareholders and followers via this \"NOTICE OF INTEREST TO GLCC SHAREHOLDERS (UPDATE NOTICE)\"The issuer would also like to use this opportunity to express its gratitude to its followers and shareholders on their patience, and fortitude while the company engaged in these complex transactions and relatively reserved itself to a quiet period on these topics which is now coming to an end. On or about June 20, 2008 the issuer completed the private placement. The company utilized some of these funds, to seek growth opportunities primarily in China. A Chinese based Oil company was identified. At the same time the issuer looked at acquiring a hotel broadband ISP. The issuer posted the complete business plan of Hubei Chuguan Industry Co.Ltd on the FILINGS section of Pink Sheets. The issuer also filed a simplified short version (due to the size of the full version 7 megs) The issuer's mindset was to eventually spin off or sell off these companies and to obtain a larger position in the Oil Company. A Chinese based marketing company MCD was also targeted however proved to be a much larger acquisition target that the issuer could not absorb. In the course of negotiations and discussions the issuer became the subject of acquisition. The issuer consulted with its board members and advisors and began the exploration of a buy out of the controlling position. The transaction is set to close with MCD on or about September 11, 2008. MCD is the process of developing its English based web site that will link in from the issuer's corporate web site. The formal announcement, the web site launch of MCD and the complete new management and board appointment will take place in 30-45 days (transition period) or thereabouts from September 11 2008 scheduled closing day. The transition period will allow the current MONA management to resolve any outstanding matters, and sale of remaining assets.The current MO...