Therapeutic Solutions (PINK:TSOI)

Friendly Auto Dealers, Inc., a development stage company, focuses on operating as a specialized brand promotional merchandising company. It intends to identify a range of casual apparel and consumer products that can be manufactured and resold for high mark-ups with the product endorsement of corporate logos, concentrating its efforts in the People’s Republic of China and its retail automotive industry. Friendly Auto Dealers, Inc. was founded in 2007 and is based in Las Vegas, Nevada

Friendly Auto Dealers, Inc. entered into a material definitive agreement not made in the ordinary course of its business on November 16, 2010. This was reported on Form 8-K filed with the Commission on November 18, 2010. The parties to the agreement are Friendly Auto Dealers, Inc. and Splint Decisions Inc., a California corporation. No material relationships exist between the registrant Friendly Auto Dealers, Inc. or any of its affiliates and Splint Decisions Inc. and any of its affiliates or control persons.
As a result of our Chinese appearances the Company received emissaries from various Chinese automobile dealership representatives, including the Korean KIA Company and the Citron Automobile Company in August 2009 in Las Vegas to discuss the formation of a working relationship and to explore business strategies involving Friendly Auto Dealers, Inc. Afterwards, these discussions continued and developed over the course of the next weeks.

This led in September of 2009 to the formal announcement by Friendly Auto Dealers, Inc. that it entered into a non-binding memorandum of understanding to merge and acquire Excellent Auto Dealers, Inc. of the Peoples Republic of China, a firm that owned a cluster of automobile dealerships in the Guangzhou Province of China. Friendly Auto Dealers, Inc. confirmed that Excellent Auto Dealers, Inc. had established ties to other Pacific Rim automobile manufacturers and dealers including KIA Motors of South Korea, as well as manufacturers and wholesalers of promotional items, and that Excellent Auto’s existing presence in China, along with China’s large developing market for auto sales would provide a basis for full scale development of Friendly Auto Dealers, Inc.’s business strategy.

The Company’s due diligence efforts proceeded throughout the last quarter of 2009 and through the first quarter of 2010, but were ultimately unsuccessful due to the Company’s failure to acquire sufficient audited financial information from Excellent Auto Dealers, Inc. resulting in the termination of the terms of the memorandum of understanding.

Last updated February 22, 2011