New York, NY -- (ReleaseWire) -- 02/25/2013 --Swingplane Ventures, Inc. (OTCQB: SWVI) announced the completion of all documentation required to file the Super 8K for the acquisition of Mid Americas Corp.
Mid Americas Corp. has finalized its audited financial statements and the Company will file the Super 8K with the Securities and Exchange Commission. The issuance of the shares to Mid Americas Corp. and the delivery of the shares of Mid Americas Corp. to the Company will finalize the acquisition.
Under the terms of the acquisition agreement, the Company will issue a total of 100,000,000 shares of its common stock and 5,000,000 shares of Series A preferred stock to the shareholders of Mid Americas Corp. and will cancel a total of 300,000,000 shares originally issued for the option. The Company will have a total of 235,000,000 shares of common stock and 5,000,000 shares of Series A preferred stock issued and outstanding.
Mid Americas Corp. will become a wholly owned subsidiary of the Company.
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China Teletech Holding, Inc. (OTCQB: CNCT) closed at 0.284 in the last traded session. The stock moved up 0.114 or 67% in the last session. The stock has a range of 0.17 - 0.29 and a 52 week high of 0.47 and a 52 week low of 0.00. The stock traded 61% up on a volume of 10.39M versus a 30 day average volume of 499,109. The market cap of the stock is 17.73M.
China Teletech Holding, Inc. formerly Guangzhou Global Telecom, Inc. is a distributor of pre-paid calling card and integrated mobile phone handsets and a provider of mobile handset value-added services. The Company serves as one of principal distributors of China Telecom, China Unicom, and China Mobile products in Guangzhou City.
Find out more on CNCT here:
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