QMIS TBS acquires QMIS Securities Capital in share exchange; CEO becomes majority owner

QMIS TBS Capital Group Corp.

Closed exchange of 1,000,100 QSC shares for 1,000,100 QMIS common shares on Feb 13, 2023.
CEO Dr. Chin Yung Kong now holds 52.72% of outstanding common stock after exchanging his QSC stake.
Acquisition positions Company as investment holding group with financial services units in Malaysia and Hong Kong.
Prior broker-dealer Richfield license suspended by FINRA; acquisition agreement terminated Nov 2022.
QSC had net tangible assets of $5,419 as of Sep 30, 2022; reverse acquisition accounting applies.

item 1.01 item 2.01 item 3.02 item 9.01 item 5.06

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

QMIS TBS Capital Group Corp.: Company ceased to be a shell company as a result of the Share Exchange transaction.

Change: shell status

Exact text from the filing

as a result of the Share Exchange, management believes that the Company conclusively has ceased to be a shell company.

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Source: SEC EDGAR

accession 0001096906-23-000347

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