Intent Letter for
Consolidation
11th Floor, Chongqing International Chamber of
Commerce, No.78 Yanghe 1st Village, Jiangbei, Chongqing
Seller: Chongqing Aomei Advertising Co., Ltd
22nd Floor, Hilton Chamber of Commerce, No.139
Zhongshan 3rd Road, Yuzhong District, Chongqing
About PAY88,
Inc. : The Company
sells online payment system and platform building business network
and provides online wholesale of various digital products for
shopkeepers. It integrates various new media, based on games and
internet café advertisement, so as to provide service for more
commercial clients and individuals. Presently, it is listed in
OTCBB with PAYI.OB as trade code.
About Aomei
: The Company is mainly engaged in
exploring, making, issuing outdoor media, integrating brand, acting
as an agent for marketing and planning. The comprehensive strength
of Aomei is a media operating company, ranking top in advertising
in Chongqing, a scaling enterprise in Chongqing advertising and
enjoys great reputes in Chongqing advertising.
The prospected trade of Aomei accords with the
commercial strategy of PAY88, Inc. The strategy of PAY88, Inc. is
to adjust and use rich resources to create more value for
shareholders, after acquisition, with the resource integration of
both parties, except for the direct base for obtaining advertising
operational revenue, bringing great increase for net profits,
acquire Aomei, which will help PAY88, Inc. to speed up its
commercial plan and broadly penetrate into the market as well as
maximized achieve the value of shareholders.
The Intent Letter (hereinafter referred as
“agreement”) will interpret the mutual agreement
regarding on trade of both parties (hereinafter referred as
“transaction”). The agreement prescribes that PAY88,
Inc. (hereinafter referred as “buyer”) acquires
Chongqing Aomei Co., Ltd (hereinafter referred as
“seller”) by directionally increasing share issue, as
for the quantity of share increasingly issued, it shall be defined
with negotiation after the buyer has completed due diligence for
the seller and its assets. If the expected transaction has been
accomplished, PAY88, Inc. will acquire the specific assets of
Chongqing Aomei Co., Ltd, Which includes but not limits to all
kinds of intellectual property rights, advertising operating rights
and client groups.
