King Resources, Inc. completed the acquisition of The GridGrabber Inc.
April 05, 2012 at 12:00 am EDT
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King Resources, Inc. (OTCPK:KING) signed a letter of intent to acquire The GridGrabber Inc. on February 14, 2012. KING has received satisfactory cash funding requirements from its preferred shareholders. King intends to retire approximately 500 million shares for the funding. The articles of incorporation of Grid Grabber and Patent Pending filings will be filed on OTC Markets shortly. Dennis Giancola will be appointed to King's Board of Directors and Chief Executive Officer of King.
King Resources, Inc. (OTCPK:KING) completed the acquisition of The GridGrabber Inc. on April 5, 2012.
King Resources, Inc. is a holding company. The Company, through its subsidiaries, is engaged primarily in the development of smart power supply solutions as well as lifestyle products in Hong Kong. The Company has five wholly owned subsidiaries, OneSolution Holdings Limited (OSH), Powertech Management Limited (Powertech), Powertech Corporation Limited (Powertech Corp), OneSolution Management Limited (OSM) and OneSolution Innotech Limited (OSIL). Powertech Corp is focused on research and development solutions, sales of its own brand smart power supply products and development of Internet of things (IoT) products across its smart home, smart office and smart fitness ecosystem. OSIL is engaged in selling lifestyle products. OSIL acts as the distributor of five brands, namely Aqigo, Brusheva, Qivation, Paudin, and Team Cuisine. It provides solutions for other companies who are in the fields of developing high power, high voltage power supply and wireless charging technologies.