Boulder Acquisitions, Inc. announced today the closing of a stock exchange transaction with Sifang Holdings Co., Ltd.
The companies will operate on a consolidated basis, executing upon the current business plan of Sifang's wholly-owned subsidiary located in China. As a result of the transaction and as of the closing date, Sifang's stockholders were issued shares of Boulder's common stock representing in the aggregate 90.3% of Boulder's 15,368,341 issued and outstanding shares of common stock immediately following the closing. Also as a result of the transaction and as of the closing date, Mr. Tai Caihua was appointed to the Board of Directors of Boulder, and Mr. Tai, as well as other senior management of Sifang, were elected as executive officers of Boulder as a result of the resignation of the company's sole executive officer as a result of the transaction. Boulder's shares are listed on the Over-the-Counter (OTC) Bulletin Board under the symbol, BAQI.OB.
Sifang, through its wholly-owned PRC subsidiary, renders value-added information services in China by purchasing content from third-party providers and reformatting that content. Sifang's value-added information services enable wireless receiver users in China to access financial information, icons, screen savers, games, horoscopes, jokes, sports and entertainment news, and other information. Sifang contracts with its affiliated wireless service providers to transmit the reformatted content to customers of China's various network operators. Sifang licenses financial information software, Sifang Gutong, that allows its customers to access stock information and execute stock trades. Sifang is the largest stock information and trading value-added information service provider in China, serving approximately 400,000 end-users at May 31, 2004.
Sifang, through its wholly-owned PRC subsidiary, is also the exclusive distributor for the Shanghai region of nine different models of mobile phones manufactured by Samsung Electronics Co., Ltd. Sifang pre-installs its licensed Sifang Gutong software in each of the Samsung mobile phones it distributes and places brochures marketing Sifang Gutong and its financial information services in the packaging of those Samsung mobile phones before selling the phones to retailers.
