American Smoothwave Ventures, Inc., based in Palm Desert, CA, has acquired Ailibao International Investment Limited, a British Virgin Islands company. Through its PRC subsidiaries and controlled companies, Ailibao International Investment Limited designs and produces “Ailibao” branded sport shoes and apparel, which are currently sold in 20 provinces in China.
To complete the acquisition, American Smoothwave issued a total of 317.4 million shares of common stock to the former shareholders of Ailibao International Investment Limited, as well as 6.8 million shares of common stock to an introducing party, together totaling 95% of the issued and outstanding shares of the company on a fully diluted basis immediately after the closing.
