Chinagrowth North Acquisition (CGNYF)

On May 24, 2008, The company entered into a definitive agreement to acquire UIB Group Limited, one of the leading insurance brokerage companies in China.  The transaction is expected to close in August 2008 and UIB intends to seek a NASDAQ listing upon closing. 

Incentive Shares will be issued to UIB Management if certain After Tax Income targets are met.

Net Income Targets:

* 2008:  The range is between $15 million and 30 million.

* 2009: $48 million

* 2010: $75 million

* 2011: $116 million

Source: SEC Form 6K (May 28,  2008)

 The GeoTeam is attempting to find what the company earned in 2007.