CDoor Corp.
OTC Bulletin Board : CDCX

November 06, 2006 17:35 ET

CDoor Corp. Announces Change of Control, New Board and Intention to Acquire Wanxin Bio-Technology Limited

SHANGHAI, CHINA--(CCNMatthews - Nov. 6, 2006) - CDoor Corp. ("CDoor" or the "Company") (OTCBB:CDCX) announced today that effective November 2, 2006, Mr. Ka Yu became the majority shareholder of CDoor by acquiring 2,000,000 shares of CDoor held in aggregate by Messrs. Lavi Krasney and Asher Zwebner, representing approximately 66% of the issued and outstanding shares of CDoor. On October 30, 2006, Mr. Lavi Krasney, the CEO, and Mr. Asher Zwebner, the CFO, Secretary and Treasurer, resigned as officers of CDoor. On October 31, 2006 the board of directors appointed Mr. Ka Yu as the President, CEO, CFO, Secretary, Treasurer and a director of CDoor. In addition, Messrs. Lavi Krasney and Asher Zwebner resigned as directors of CDoor leaving Mr. Ka Yu as the sole director of CDoor.

Mr. Ka Yu is currently 36 years old and is the CEO of Far East Union Investment Ltd., a privately owned consulting firm based in Hong Kong that specializes in providing cross-border business solutions, consulting and corporate finance on customer projects. He has served in that capacity since 2001. From 1996 to 2001, Mr. Yu was the managing director of Powerlot (Pacific) Ltd., a privately owned company, during which time he initiated, organized and supervised the business of the company with over 500 staff members. Powerlot is engaged in the business of garment manufacturing, logistics, telecommunications, and national trade with annual revenues exceeding $50 million USD in 2001. Mr. Yu graduated from Shanghai Teacher's University in Shanghai in 1991 with a Bachelors of Science degree. Mr. Yu is not an officer or director of any other reporting issuer.

On November 2, 2006, CDoor entered into a letter of intent to acquire 100% of the issued and outstanding shares of Wanxin Bio-Technology Limited ("Wanxin"), a company organized under the laws of the British Virgin Islands, in exchange for 34,000,000 post forward stock-split shares of CDoor. CDoor intends to forward split its issued and outstanding shares on a basis of 20 new shares for each one (1) old share which would result in the current outstanding shares of 3,025,000 becoming 60,500,000 shares. Thus, after the proposed acquisition of Wanxin there would be a total of 94,500,000 shares outstanding subject to the possible cancellation of some common shares held by the controlling shareholder, Mr. Ka Yu.

Wanxin is the sole shareholder or has the right to acquire all of the issued and outstanding shares in the capital of Manhing Enterprises Limited, a company organized under the laws of Hong Kong, and Manhing Enterprises Limited is the registered owner of 82% of the capital of Shanghai Wanxing Bio-pharmaceuticals Co., Ltd.

Shanghai Wanxing Bio-pharmaceuticals Co., Ltd. ("Shanghai Wanxing"), a company organized under the laws of China, is a leading Chinese developer of genetically engineered recombinant protein drugs and vaccines. Based in Shanghai, Shanghai Wanxing currently has 10 products either approved or in development, which products respond to a wide range of diseases, including cancer, malaria and hepatitis.

For further information please refer to the Company's filings with the SEC on EDGAR.

FORWARD-LOOKING STATEMENTS This news release may include "forward-looking statements" regarding CDoor Corp., and its proposed subsidiary, business and project plans. Such forward looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where CDoor expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. CDoor does not undertake any obligation to update any forward looking statement, except as required under applicable law.

Contact Information

  • CDoor Corp.
    Ka Yu
    011-86-138-178-95-882