Navigation Links
New Board Gains Control of U.S. Shanghai Chemical Corporation
Date:12/11/2009

After two years, U.S. Board legally recovers the books and records of U.S. Shanghai Chemical Corporation from Chinese Principals!

(PRWEB) December 11, 2009 -- In August, 2004 U.S. Shanghai Chemical Corporation, a New Jersey corporation formerly known as Axxexs Capital, Inc. was acquired by a Chinese chemical company in a reverse merger. Principals of the Chinese company were elected to the Board of Directors at that time. In April, 2005, it was disclosed that these same principals were arrested in China for violations of the Chinese Foreign Currency Act. Since then, the company has been without a management team or Board of Directors.

Under New Jersey corporate law, any shareholder of any New Jersey corporation that has lost its management team or Board of Directors due to unforseen circumstances may call a Special Meeting of the Shareholders to elect a new Board. In August, 2007, a Special Meeting of the Shareholders was convened and a new Board of Directors was elected. The shareholders instructed the Board of Directors to reacquire all the books and records of the Company and bring all filings current.

In November, 2007 the new Board filed suit in Superior Court in the State of New jersey to reacquire the books and records from the Chinese principals and/or the transfer agent. The Board followed the protocol described in the Hague Convention and provided certified Chinese translations of all English documents to the principals in China. After two years of litigation and negotiation, the new U.S. Board successfully re-acquired the books and records of the company.

"We are now in the process of bringing all the filings of the company current including those required by the Securities & Exchange Commission and State Regulators. We are also preparing all back tax returns and financial statements", said Louis Perosi, Jr. Chairman of the Board.

U.S. Shanghai Chemical Corporation ("USCJ"), trades in the NQB-Pink Sheets. The stock can be seen at www.quote.com. Enter the symbol USCJ and click "GO". The recent price of the stock as of the date of this release was $0.10 per share.

"We can't speak about the future of USCJ until we clean up the past. We will, however, continue to keep the shareholders updated regarding our progress and our intentions. At this time, a purchase of the stock would be highly speculative and can only be based on the anticipated future acts of the Board", said Perosi.

For more information please contact Mr. Louis Perosi, Jr., Chairman of the Board at 1-888-282-2802, Extension 19.

###

Read the full story at http://www.prweb.com/releases/2009/12/prweb3320604.htm.


'/>"/>
Source: PRWeb
Copyright©2009 Vocus, Inc.
All rights reserved  

Related medicine news :

1. UHW Announces: Antelope Valley Hospital Caregivers and Board Vote to Ratify First Union Contract With SEIU UHW-West
2. Richard Greco Joins Mediware Board
3. Arrow International Urges Shareholders To Vote for Approval of the $45.50 Teleflex Inc. Merger and for the Current Board of Directors
4. Award-winning QUITPLAN(R) Services Billboard Debuts in Rogers
5. Montana Health Care Leader Elected Board Chair of National Association
6. Genaera Announces Formation of Scientific Advisory Board for Obesity Drug Candidate Trodusquemine (MSI-1436)
7. China Holdings Appoints Ronald Shon Chairman of Advisory Board to Its Wholly-Owned Subsidiary China Power, Inc.
8. Glass Lewis Recommends Arrow Shareholders Vote on the White Proxy Card for Merger With Teleflex and for Current Board of Directors at Arrow Annual Meeting
9. STERIS Corporation Board of Directors Names Walter M. Rosebrough Jr. President and Chief Executive Officer
10. Patient Safety Authority Board of Directors Names Infection Advisory Panel
11. William Moore Appointed to IRIDEX Board of Directors
Post Your Comments:
*Name:
*Comment:
*Email:
Related Image:
New Board Gains Control of U.S. Shanghai Chemical Corporation
(Date:10/13/2017)... ... ... PurhealthRX , a leading Health and Nutrition Company, is announcing the ... spectrum CBD oil will revolutionize the rapidly growing CBD market by reducing the amount ... into liquid products, while reducing costs to end users. , The team of researchers ...
(Date:10/13/2017)... ... October 13, 2017 , ... Lori R. Somekh, founder of the Law ... organization of elder law and special needs planning attorneys. “Membership in ElderCounsel helps our ... a forum to network with elder law attorneys nationwide,” said Somekh. , ...
(Date:10/13/2017)... ... October 13, 2017 , ... Many families have long-term insurance that covers ... companies have a waiver for care if the client has a cognitive impairment diagnosis. ... pays for care, is often waived, so the benefits from their insurance start immediately,” ...
(Date:10/13/2017)... ... October 13, 2017 , ... Ellevate Network, the leading network for professional ... action towards gender equality at their inaugural Summit in New York City in June. ... a social audience of over 3 million. To watch the Mobilize Women video, ...
(Date:10/13/2017)... ... ... Yisrayl Hawkins, Pastor and Overseer at The House of Yahweh, has released ... understood books in the Holy Scriptures, Revelation. The Book of Revelation paints a picture ... Many have tossed it off as mere rubbish, but Yisrayl Hawkins says that is ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... Oct. 2, 2017 The Rebound mobile app is ... to reverse the tide of prescription drug addiction. The app ... medicine intake and stepping down their dosage in a safe, ... in December 2017; the first 100,000 people to sign up ... http://www.rebound-solution.com/ ...
(Date:9/25/2017)... AMSTERDAM , Sept. 25, 2017   ... Trial Master File solutions, today—from the IQPC Trial ... Amsterdam , NL)—announced that EastHORN Clinical Services ... its clinical programs and TMF management. EastHORN, a ... Montrium,s eTMF platform to increase transparency to enable ...
(Date:9/19/2017)... 2017 HistoSonics, Inc., a venture-backed medical device company developing a non-invasive, robotically assisted, ... three leadership team developments today:   ... ... Tom Tefft ... Veteran medical device executive Josh Stopek , PhD, who has ...
Breaking Medicine Technology: