List candidate DD.....NEOE
Ticker NEOE will merge with Chinawe.com
About Chinawe:Chinawe.Com is a prime provider of China E-commerce solutions dedicated to enabling overseas buyers and Chinese suppliers to explore potential business opportunities and maximize their return in a barrier-free environment. With the support of our professional personnel and advanced technologies, we aim at providing a comprehensive and user-friendly online trade platform to our members of Chinese suppliers, overseas buyers and trading corporations focused on simplifying the traditional communication and trading patterns. Having accumulated years of our professional experience and consistently conducted researches and analyses on E-trade information, Chinwe.Com has achieved to develop an updated, integrated and dynamic system of online China-foreign trade solutions. This specially designed system helps both the supply and demand side of the market to more efficiently source, match and deal with their prospects online. It also offers our supplier members to promote and sell their products via Online Sample Sale, Online Factory Outlet and Supply/Demand Message Board, whilst our buyer members can make use of New Product Alert and Supply/Demand Message Board to obtain first-hand information of the China market. Moreover, Chinawe.Com also provides other value-added services to assist our members in completing the procurement cycle Through our well-architect web platform, Chinese suppliers are not only benefited from increasing worldwide market exposure and business sales, they are also enabled to accurately formulate their market scheme, consummate their operating patterns, brand and price their products based on buyer's feed back. In addition, overseas buyers are enabled to widen their range of product selection from China that increases the effectiveness of procurement and streamlining their real-time business transactions. Our main goal of working every step closely, attentively and professionally with our members makes us always listen carefully to their valuable comments. We have established a number of regional offices in China to attend to our members more effectively. It is important for us to see that all our members are satisfied with our services and are enjoying the prosperous return that Chinawe.Com brings to them.
Home page chinawe.com
Citic Forever Company Ltd. with an annual import & export turnover reaches US$100 million has become our member recently.
The global e-commerce transaction has reached to US$377 billion, of which e-commerce for business-to-business has amounted to US$145 billion at the beginning of this year. (Source: International Data Corporation (IDC) report).
The e-commerce from business-to-business in China will increase from US$55 million in 2000 to US$18 billion in 2002. (Source: International Data Corporation (IDC) report).
sec.gov
: Chinawe, through its subsidiary companies based overseas, is in the business of (a) enabling e-commerce transactions for small and medium size producers of goods on Mainland China ("PRC") for sale to overseas wholesale customers, and (b) managing assets located in the PRC by attempting to expedite transactions between Chinese operators of these assets and overseas purchasers and joint-venturers. Q: Why is this transaction being entered into? A: Management of Neo Modern and Chinawe believe that the Neo Modern business efforts should be terminated in favor of the Chinawe business. The Chinawe business presents a more dynamic and growing field which should be vibrant and profitable, presenting a better opportunity for financing through a company whose shares are publicly traded and, it is hoped, to increase your shareholder value.
Neo Modern will issue 28,764,565 new shares of Neo Modern common stock to the single record and four beneficial shareholders of Chinawe, which equals 71.9% of the total of 40,000,000 shares expected to be outstanding when the merger is completed. For purposes of the Merger Agreement, we assigned a value of $.04 per share to these new shares, which is slightly below recent market prices. |
