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New Asia Holdings Inc (NAHD) Completes the Acquisition of Magdallen Quant Pte Ltd a Company that Owns Proprietary, Trainable, Trading Algorithms
New Asia Holdings Inc (NAHD) Completes the Acquisition of Magdallen Quant Pte Ltd a Company that Owns Proprietary, Trainable, Trading Algorithms.
About this update from New Asia Holdings, Inc.
[{"type":"text","content":"\n\n\n\nNew Asia Holdings Inc (NAHD) Completes the Acquisition of Magdallen Quant Pte Ltd a Company that Owns Proprietary, Trainable, Trading Algorithms\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nNew Asia Holdings Inc (NAHD) Completes the Acquisition of Magdallen Quant Pte Ltd a Company that Owns Proprietary, Trainable, Trading Algorithms\nPR Newswire\nSINGAPORE, Sept. 8, 2015\n\n\n\n\n\n\n\nSINGAPORE, Sept. 8, 2015 /PRNewswire/ -- New Asia Holdings Inc (OTCQB: NAHD), formerly DM Products Inc (DMPD) (the \"Company\"), is proud to announce that on August 25th 2015, it entered into a final Sale and Purchase Agreement for the acquisition of 100% of the issued and outstanding shares of equity securities of Magdallen Quant Pte Ltd (\"MQL\") and on August 28th, 2015, completed the acquisition. MQL is now a wholly-owned subsidiary of the Company. \n\nMQL is a company incorporated and based in Singapore involved in the research, development and deployment of advanced, proprietary, state-of-the-art, trainable trading algorithms. As previously announced, the Company has, over the last several months, undertaken a thorough due diligence and evaluation of the Proprietary Trainable Trading Algorithms assets owned and developed by MQL. The Company has acquired the following set of assets, three Proprietary Trainable Trading Algorithms: \n\n\nSeries X Pound/Dollar \nSeries Y Pound/Dollar  \nSeries Z Multi-asset Currency and Gold\nThe negotiated purchase price of this acquisition is on the basis of a share swap of 7,422,000 new restricted shares of Common Stock of NAHD in exchange for entire issued and paid-up capital of MQL, which is 8,000,100 number of shares issued at par value of SGD $1.00 per share, which is 100% of the issued and outstanding shares of equity securities of MQL. \n\nThe Company will offer these proprietary, trainable, algorithm trading software solutions to broker-dealers, banks, funds and other clients on the basis of a \"Software as a Service (SaaS)\" licensing and delivery models, with licensed users availing themselves of service-based contractual arra...