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Last Trade
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Last Trade:
$0.33
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Change:
0.009 (2.80%)
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Trade Time:
Feb 09
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Market Cap:
$7.58M
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Description of Business
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Effective May 26, 2006, a business combination occurred between Sancon Recycling
Pty Ltd. ("SRPL") and MKA Capital Inc. (hereinafter referred to as "MKAC"). The
combination was effected by MKAC exchange its seventy-five percent (75%) equity
stake in MK Aviation, S.A. (hereinafter referred to as "MKA") for one hundred
percent (100%) equity stake in SRPL held by Mr. Jack Chen, Mr. Yiu Lo Chung, Mr.
Guy Waters, and associated parties ("the Shareholders"). Meanwhile, the
Shareholders exchanged their ownership of seventy-five percent (75%) equity
stake in MK Aviation, S.A. with 14,897,215 shares of the Registrant's common
stock from Mr. Kraselnick and associated parties.
As a result of the merger, there was a change in control of the public entity
MKAC. In accordance with SFAS No. 141, SRPL was the acquiring entity.
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