SW China Imports, Inc. (SWCI) Shareholder Update
April 15 2013 - 6:00PM
Marketwired
SW China (OTCQB: SWCI) is pleased to share this update of company
developments from the President and CEO:
"As I stated in the company's previous press release dated April
8, 2013, I own approximately 297 million shares, or approximately
60% of the total outstanding shares of SWCI. I previously stated
that I decided NOT to sell any of my shares,
including the 24 million shares that were duly registered in an
S1/A Registration Filing with the SEC. To further my commitment, I
have decided to formally cancel those 24 million shares. In the
next couple of days, I shall cause the proper filings to be
submitted to the SEC to formally cancel those shares.
"To further update, although SW China is currently a development
stage company with nominal operations and minimal assets, which
makes us a 'shell' company as defined by the Exchange Act, as
amended, I am absolutely committed to building this company, from
the ground up, as a custom and high-end hairpiece and beauty supply
importer. I am working toward that goal and the company is not
dormant or seeking to do a reverse-merger with any other entity. In
that light, I have reconsidered the LOI announced on April 11,
2013, of acquiring a partial interest in Absolute Protective
Services, LLC. After reconsideration, I have decided there are no
synergies between SW China (a hairpiece and beauty supply business)
and APS (a private security company), and that the future growth
and direction of SW China is not compatible with APS. This decision
was made after analyzing the potential benefits and drawbacks of
the acquisition, and was NOT made as a result
of any breakdown or disagreements in negotiations between SW China
and APS. I decided to immediately rescind the LOI before
negotiations begin in earnest and save all parties the time and
expense of engaging in negotiations of a deal which, after my
soul-searching, I have decided are not beneficial for SW China's
future as a hairpiece and beauty supply importer."
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 Won Email Contact
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