CHINA GEWANG BIOTECHNOLOGY, INC. (OTCMKTS:CGWB) Files An 8-K Changes in Control of RegistrantItem 5.01
Through three documents each titled "Authorization" executed in January and May of 2016, Han Xu acquired voting control over 25,471,500 shares of the Registrant’s common stock, representing 34% of the outstanding shares, owned of record by Hong Kong Quansheng Holding Management Co., Limited (10,000,000 shares), Hong Kong Nuoxin Investment Management Co., Limited (7,500,000 shares), Jun Wen (5,000,000 shares) and Xiuqin Jiang (2,971,500 shares).
On May 15, 2017 each of those record holders executed a Termination of Authorization terminating Han Xu’s voting control over their shares. Therefore Han Xu has ceased to be a control person with respect to the Registrant.
About CHINA GEWANG BIOTECHNOLOGY, INC. (OTCMKTS:CGWB)
China Gewang Biotechnology, Inc., formerly Rich Star Development, is a holding company. The Company conducts its operations through Guangdong Gewang Biotechnology Co., Ltd. (Guangdong Gewang). Guangdong Gewang is engaged in the sale of selenium supplements within the People’s Republic of China. The Company offers approximately three products under the brand Jindanli. Its products include Selenium Capsules; Selenium-Glossy Ganoderma Capsules, and Organic Selenium Powder. The Jindanli Selenium Capsule is designed using carageenan capsules. Its selenium capsules are sold in a box of approximately 300 capsules. The Company offers glossy ganoderma, an edible fungus, combined with selenium. The Company offers selenium powder in a box of approximately 90 bags. The Company has approximately three stores dedicated to the sale of Jindanli products, located in Chancheng, Xiamen and Changsha. The Company outsources the manufacturing of its products to approximately three production companies. CHINA GEWANG BIOTECHNOLOGY, INC. (OTCMKTS:CGWB) Recent Trading Information
CHINA GEWANG BIOTECHNOLOGY, INC. (OTCMKTS:CGWB) closed its last trading session 00.00 at 6.02 with 3,569 shares trading hands.
