XML 34 R22.htm IDEA: XBRL DOCUMENT v3.5.0.2
Other events
12 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
Other events

17. Other events

 

On July 20, 2015, the Company entered in a Memorandum of Understanding (MOU) to acquire Bao Coc International Paper and Plastic Company Limited, a manufacture of high-grade post consumer paper products, including napkins, for the U.S. food industry. Under the terms of the non-binding MOU, the Company will acquire 100% of Bao Coc International Paper and Plastic Company Limited in exchange for a combination of cash, restricted common shares of the Company and a long-term profit sharing incentive to the management team of Bao Coc International Paper and Plastic Company Limited. Company did not proceed with acquisition as of the date of this filing.

 

Mr. Er Wang was replaced as a director on January 1, 2016 with Mr. Ko assuming a director role.