SOURCE: SW China Imports, Inc.
April 16, 2013 17:30 ET
BALTIMORE, MD--(Marketwired - Apr 16, 2013) - SW China (OTCQB: SWCI) is pleased to announce that the President and CEO has formally cancelled his 24 million shares that were originally registered in a S1/A Registration Statement. He commented that "in following through on my commitment as previously stated not to sell any of my shares, I have filed a 'Post-Effective Amendment' officially with the SEC to remove from registration the 24,000,000 shares of SW China's common stock." The filing can be found at the SEC's official website at http://www.sec.gov. With this action, there are approximately roughly 40 million shares in the tradable float (i.e., registered and freely tradable shares).
The President and CEO further stated that "there appears to be some misunderstanding concerning the applicable laws among some people who believe that restricted stock of SWCI is currently, or will become, freely trading at some point in the future, without the filing of a Registration Statement with the SEC. As a 'shell company,' stock of SWCI may only become freely trading upon the filing an S1 Registration Statement and declaration of 'effectiveness' by the SEC, as far as I am aware. There are NO exemptions, that I am aware of, that would make even a single share of the approximately 460 million issued but RESTRICTED common stock of SWCI eligible to become freely trading without filing of a S1 Registration Statement and 'Notice of Effectiveness' granted by the SEC."
SWCI is a development stage company with nominal operations and minimal assets, which makes us a "shell" company as defined in Rule 12b-2 of the Exchange Act, as amended. Investing in our common stock is highly speculative and involves an extremely high degree of risk, with a great degree of risk of losing your entire investment. The public should read all of the public filings made with the SEC and other regulatory agencies in order to gain a fuller picture of the risks associated with potentially investing in the stock of SWCI. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements relating to the future anticipated direction of the beauty supply and/or hairpiece industry, plans for future expansion or acquisition, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and prospective dealings and joint venture projects. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of SW China.
Seon WonEmail Contact
Seon WonEmail Contact
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