SYDNEY, Australia, March 06, 2023 (GLOBE NEWSWIRE) -- American Seniors Association Holding Group, Inc., a Georgia Corporation (OTC:AMSA) (the “Company”), announced the closing of the previously reported acquisition transaction with Btab Group Inc., a Delaware Corporation (“BTAB”).
BTAB is an e-commerce company with operations in Australia, Hong Kong, China, India, U.K., and the U.S.
Pursuant to the transaction, the Company acquired five e-commerce BTAB subsidiaries, who had approximately $11M in 2022 annual revenues. The Company issued 605,701,393 shares of its common stock shares to BTAB and certain of its shareholders.
Following the transaction, BTAB and its shareholders, will own 625,701,393 Company common stock shares, or approximately 90% percent of the Company’s 695,223,770 outstanding common stock shares. Also, the Company will issue 20,000,000 shares of its Series A Preferred Stock to Mr. Binson Lau, BTAB’s controlling shareholder and CEO. The Series A Preferred Stock entitles the holder to 100 common stock share votes on all matters submitted to a shareholder vote, voting as a class with the common stock shareholders.
Concurrent with the acquisition, Mr. Lau was elected the sole director and CEO of the Company.
The Company will apply to the Financial Industry Regulatory Authority (“FINRA”) for consent to change the Company’s name, trading symbol, and effect a reverse stock split, as is customary for transactions of this nature.
About the Btab Group Inc.
BTAB was founded in 2014 and is an e-commerce company that operates through subsidiaries in Australia and the ASEAN region as well as locations in the US and UK. They provide affordable ecommerce services and supply technology and products to small businesses to allow them to compete in an underserved market segment. The BTAB network seeks to expand its reach into Europe and the Americas where it intends to provide small businesses with products and services not currently commercially available to them. BTAB believes the e-commerce growth in Asia alone will be significant well into the next decade and beyond as increasing numbers of internet users take advantage of online shopping and increasing spending power. Find out more about Btab Group at the official website https://btabcorp.com.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements.” Forward looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.
Media Contact:
Mr. Binson Lau, CEO
info@btabcorp.com
https://btabcorp.com
