News Of China (PINK:NWCH)

Pursuant to the terms of an affiliate stock purchase agreement dated June 15, 2011, 2011 between Chenling Shi, Aventech Capital Inc. (held indirectly by Chenxi Shi) and Junjun Wu, Mr. Wu purchased a total of 15,000,000 shares of common stock from the following persons:

Chenling Shi    5,500,000   
Chenxi Shi       9,500,000    
  

The purchase price of the shares was $250,000, which was paid in cash and by the personal funds of Mr. Wu.

Junjun Wu now owns 15,000,000 of our shares of common stock, which is 57.9% of our issued and outstanding shares of June 22, 2011.

Caveat Emptor:

In our management’s opinion, we have not been able to achieve the milestones we set to fully implement our business operations. Because we have not been able to generate revenues from our online financial media outlet and we have little working capital remained, our management has decided to suspend the implementation of our current business plan until such time when we are able to obtain further financing. We anticipate that we will need to raise $2-2.5 million additional financing through sales of our securities in traditional private placement offerings or other types of private placement transactions such as Private Investment in Public Equity (“PIPE”) before we can continue implementing our current business plan. Alternatively, we may decide to pursue a new business in a different direction other than our current business plan.

Source: SEC Form 10Q (For the quarterly period ended December 31, 2008)