ACCESSWIRE
04 Oct 2022, 05:37 GMT+10
ARUNDEL, QUEENSLAND / ACCESSWIRE / October 3, 2022 / China Dasheng Biotechnology Co. (OTC:CDBT) to be renamed Cycclone Magnetic Engine Developments, Inc., today announced that on October 1, 2022, CDBT accepted effective control of Cycclone Magnetic Engine Developments Limited and the 2 wholly owned subsidiaries, Cycclone Engine Developments Pty Ltd and Y Engine Developments Pty Ltd.
Background:
On July 19, 2022, joint custodians of CDBT, Mr. Frank I Igwealor and Mr. Bryan Glass jointly sold 840,000 shares of the CDBT's Series A Preferred stocks which control a total of 81.55% of CDBT's total voting rights, to Mr. Micheal Nugent as Trustee for The Twenty Second Trust. Subsequent to the above transaction, the two transferred control of the CDBT's board of directors to Mr. Nugent.
On August 2, 2022, the CDBT entered into a share exchange agreement with Cycclone Engine Developments Pty Ltd, an Australian corporation for the acquisition of the assets and business operations of Cycclone Engine Developments Pty Ltd and subsidiary, Y Engine Developments Pty Ltd.
On September 28, 2022, Cycclone Engine Developments Pty Ltd and Y Engine Developments Pty Ltd became wholly owned subsidiaries of Cycclone Magnetic Engine Developments Limited, an Australian unlisted public company.
On September 29, 2022, CDBT entered into an amended Share Exchange Agreement with Cycclone Magnetic Engine Developments Limited.
On September 30, 2022, CDBT and Cycclone Magnetic Engine Developments Limited entered into an Operating Agreement for The Amended Share Exchange Agreement giving effective control of Cycclone Magnetic Engine Developments Limited and the wholly owned subsidiaries.
CDBT:
China Dasheng Biotechnology Co. is holding Company. The company plans acquire and consolidate assets roll-up to become a profitable enterprise. Areas of interest include green energy, renewables integration into energy production, energy delivery, and energy consumption as well as transport services. digital banking, real estate lending, residential, commercial, and industrial sectors.
Cycclone Magnetic Engine Developments Limited
Cycclone Magnetic Engine Developments Limited is engaged in the development and commercialization of new geometric configuration low carbon emission engines and other clean technology solutions with a view to create technologies that improve efficiency and reduce levels of greenhouse emissions. Cycclone Magnetic Engine Developments operations are based in Queensland, Australia.
Contact:
Micheal Nugent / CEO
mnugent@nugent.com.au
+61438158688
Safe Harbor Statement
Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, managing growth, and political and other business risks.
SOURCE: China Dasheng Biotechnology Co.
Get a daily dose of San Francisco Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to San Francisco Star.
More InformationIsrael intensified its deadly bombardment of the Gaza Strip Saturday as renewed fighting with Hamas entered a second day following ...
Israel resumed its military operation in the Gaza Strip on Friday with heavy bombardments. As strikes continue, the United States ...
This campaign explores ice hockey players' influence and popularity beyond their National Hockey League (NHL) careers. The goal was to ...
(Photo credit: Grace Hollars/IndyStar / USA TODAY NETWORK) After outlasting Texas Tech in overtime in a high-scoring Big East-Big 12 ...
(Photo credit: Mark J. Rebilas-USA TODAY Sports) The Anaheim Ducks ended an eight-game losing streak against Colorado on Saturday night, ...
(Photo credit: Timothy T. Ludwig-USA TODAY Sports) The Nashville Predators are back to playing uneven hockey after using a six-game ...
MOUNT PLEASANT, Michigan: This week, a judge sentenced a Michigan man who kept his dead wife's body in a freezer ...
ATLANTA, Georgia: After two consecutive years of declines mainly caused by the COVID-19 pandemic, babies born in the U.S. in ...
The number of soldiers in the Israeli army killed in the current Israel-Hamas war has topped 400. Three hundred and ...
MOSCOW, Russia: A Russian court has extended the detention of Evan Gershkovich, a U.S. reporter for the Wall Street Journal, ...
Israel intensified its deadly bombardment of the Gaza Strip Saturday as renewed fighting with Hamas entered a second day following ...
ARLINGTON, Virginia: This week, the conservative U.S. political network Americans for Prosperity Action (AFP Action), led by billionaire Charles Koch, ...