Business & Finance
Business and Finance
Business and Finance
Thu, September 17, 2009
Wed, September 16, 2009 Bakhu Holdings Corp.: Bakhu Holdings Corp. Announces Merger Candidate Wins Contract With China's Largest Cellular Phone Manufac
LAS VEGAS, NV--(Marketwire - September 16, 2009) - Bakhu Holdings Corp. ("the Company" or "we") (
As reported by Cellular News, ZTE wants to become the world's fifth largest mobile manufacturer. Currently ZTE is the 6th largest cell phone manufacturer in the world and is China's number one cell phone manufacturer. ZTE has targeted to sell 100 million units for 2010 which should push the company to No. 5 in the world.
Mr. Xinan Zeng, the founder and CEO of SXSE and CEO of Bakhu Holdings Corp., said, "SXSE is currently negotiating the total number of units they will supply ZTE, but this represents a significant opportunity for SXSE and recognizes the company's competence in research, development and manufacturing."
The completion of the merger between Bakhu Holdings Corp. and SXSE is contingent on the completion of an audit by a PCAOB designated accounting firm. Once the merger is completed, Bakhu Holding Corp. will change its name to Bakhu Solar Corp. and will continue to pursue the same successful, aggressive growth strategy that was implemented by SXSE, a profitable private company that was established in 2002 in Shenzhen, Guangdong Province, Peoples Republic of China. Since its inception, SXSE built its business by manufacturing a wide range of solar products for commercial and consumer applications. In 2004, the company compounded its success by expanding to make PV solar panels. Today, the company produces PV solar panels and a wide array of solar products, all of which use solar cells as the power source.
SXSE manufactures and sells 35 different PV solar panels, ranging from 10W (watts) to 250W. These PV solar panels are used in both industrial and residential applications. SXSE uses high quality solar cells which it purchases from cell manufacturers in Japan and Taiwan. Solar products manufactured by the company for commercial and consumer use include portable lights for various applications, lane markers, solar street lights, solar traffic lights and battery chargers.
SXSE employs 100 workers in its manufacturing operation and 10 engineers who design and fabricate products. The factory is located in an industrial part of Shenzhen and occupies 1,500 square meters.
Bakhu Holdings Corp. is a public company that plans to enter the green energy business by acquiring a solar manufacturer that is based in China. The company that Bakhu Holdings Corp. plans to acquire is Shenzhen Xinhonglian Solar Energy Co., Ltd. (SXSE). The completion of the merger between Bakhu Holdings Corp. and SXSE is contingent on the completion of an audit by a PCAOB designated accounting firm, which is followed by the transfer of SXSE's assets to a Hong Kong based company.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
A number of statements contained in this press release are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including activities relating to the completion of the merger between Shenzhen Xinhonglian Solar Energy Co., Ltd. (SXSE) and Bakhu Holdings Corp. These activities include the completion of an audit by a PCAOB designated accounting firm and the transfer of SXSE's assets to a Hong Kong based company, our ability to raise capital when needed and on acceptable terms and conditions, the intensity of competition and general economic factors. The actual results Bakhu Holdings Corp. may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Bakhu Holdings Corp. encourages the public to read the information provided here in conjunction with its most recent filings, which may be viewed at [ www.sec.gov ].
