Sino Green Land Corp. (SGLA): M&A transaction — SGLA completes reverse merger with Tian Li; Luo family gains 89.78% control

Sino Green Land Corp.

On Oct 1, 2023, SGLA acquired SGL via share exchange: 160.3M common + 1.78M preferred shares issued.
Post-merger, Luo Xiong and family control 89.78% of SGLA (up from 65.7% pre-merger).
Tian Li is a Malaysia-based PET recycler with capacity: 50K tons/yr PET flakes, 3K tons strapping belts, 3.5-4K tons HDPE pellets.
SGL (pre-acquisition) incurred net loss of $1.0M for FY ended June 30, 2023; going concern doubt noted.
Company ceased to be a shell company; primary business is now plastic recycling and renewal.

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Key facts

Extracted from this filing and checked against the source text.

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

Sino Green Land Corp.: Ceased to be a shell company as a result of the Share Exchange.

Change: shell status

Exact text from the filing

As a result of the Share Exchange, we have ceased to be a shell company.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Sino Green Land Corp. underwent a change of control involving Luo Xiong and spouse Wo Kuk Ching and their immediate family members (closed 2023-10-01).

Action: change of control
Counterparty: Luo Xiong and spouse Wo Kuk Ching and their immediate family members
Closing: 2023-10-01

Exact text from the filing

Following the Merger, Luo Xiong and spouse Wo Kuk Ching and their immediate family members controlled 89.78% of SGLA.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Sino Green Land Corp. completed an acquisition involving Sunshine Green Land Corp. (SGL) and its wholly-owned subsidiary, Tian Li Eco Holdings Sdn. Bhd (closed 2023-10-01).

Action: acquisition
Counterparty: Sunshine Green Land Corp. (SGL) and its wholly-owned subsidiary, Tian Li Eco Holdings Sdn. Bhd
Closing: 2023-10-01

Exact text from the filing

On October 1, 2023, Sino Green Land Corp. (“SGLA,” or the “Company”) completed its merger with Sunshine Green Land Corp. (“SGL”) and SLG’s wholly-owned subsidiary, Tian Li Eco Holdings Sdn.Bhd” (“Tian Li”), pursuant to the terms of a definitive share exchange agreement dated October 1, 2023.

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Sino Green Land Corp. filing history →

Source: SEC EDGAR

accession 0001493152-24-006894

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