National Realty and Mortgage, Inc. has announced the acquisition of World Through Limited, a corporation registered in the British Virgin Islands. The deal took place on June 6, 2007. Also, on June 6 Daqing Sunway completed a private placement of $6.7 million through the sale of shares and attached warrants. Subject to certain restrictions, the Series B Convertible Preferred Stock is convertible into an aggregate of 4,962,963 shares of common stock.
BVI-based World Through Limited controls Daqing Sunway Technology Co., Ltd., a Chinese operating company, through its wholly-owned subsidiary Sunway World Through Technology (Daqing) Co., Ltd., a wholly foreign owned entity organized under the Chinese corporate law.
he control is carried out through a series of contractual arrangements, which give Daqing control over Sunway’s business, personnel and finances as if it were an indirectly wholly-owned subsidiary. Sunway is working in the business of designing, manufacturing and selling logistic transport systems and medical dispensing systems and equipment. The principal product of the company is a pneumatic tube logistic transport system which is used by hospitals and other medical facilities.
Over the past two years, Sunway’s business has shown significant growth, with revenues for the year 2006 increasing to $8,914,139, compared to $5,047,365 for the prior year. Revenues for the three month period ended March 31, 2007 were $2,467,228. For the fiscal year ended December 31, 2006, Sunway’s net profits were $4,029,553, compared to $2,352,996 in 2005.