China Dasheng Biotechnology Co. OTC-CDBT (to be renamed Cycclone Magnetic Engines, Inc.)
ARUNDEL, QUEENSLAND, AUSTRALIA / ACCESSWIRE / August 29, 2023 / China Dasheng Biotechnology Co. (OTC PINK:CDBT) announces founder, shareholder and stakeholder approval for all Cycclone Magnetic Engine related technology and intellectual property to become housed under China Dasheng Biotechnology, Co. (to be renamed Cycclone Magnetic Engines, Inc.)
Through the month of August 2023, documents have been signed by founders, shareholders, and stakeholders to formalize the bringing together of the various subsidiaries and intellectual property associated with Cycclone Magnetic Engines being vested into CDBT.
Added to this, 2 shareholder meetings were held, one at the Yatala transport facility and the other at the Bangalow small component facility with a "show of hands vote", which was unanimous at both meetings.
On Sunday July 30, 2023, over 160 shareholders attended a meeting at the Yatala, Queensland, Australia transport facility.
In line with yard safety rules, all attendees were issued hi-vis safety vests branded in our company logos.
At the meetings, CEO Micheal Nugent spoke about bringing together the 3 challenges in front of the company.
1. Corporate Presentation:
CDBT as a "custodian" company acquisition is being brought back to market compliance and continuous disclosure regulations through assembling a strong corporate division. Added to this division, advisors have been sourced and it is envisaged that a 15c2-11 compliance form will be filed soon.
2. Intellectual Property Capture:
As disclosed in the press release of 11/15/2022, Cycclone Magnetic Engines has always acknowledged that the base principal is "unproven technology" and while many other components and new engine configurations have been captured as novel and patentable, the timing of filing patents is strategic and critical to strong capture of the associated intellectual property. As the company becomes stronger corporately and commercially, the various patents slated for filing claims will be acted on.
3. Current and Ongoing Operations:
As disclosed in the press release of 01/23/2023, suitable properties were sourced and leased in Bangalow, New South Wales, Australia, and the small component development facilities were fitted out and opened. Since opening the Bangalow facilities, new machinery and tooling have been installed and commissioned. CEO Micheal Nugent talked about how important it is to keep operations in all areas growing while the other divisions carry out their work.
On Sunday 6 August 2023, over 140 shareholders attended a meeting at the Bangalow, New South Wales, Australia small component development facilities.
A "show of hands" vote was unanimous for the bringing together of the subsidiaries and intellectual property of Cycclone Magnetic Engines.
/S/ Micheal Nugent
CEO of CDBT
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CDBT. Cycclone Magnetic Engines, Inc.
On April 24, 2023, CDBT entered a Share Exchange Agreement to acquire all of the outstanding shares in Cycclone Magnetic Engines, Inc., the original founding company of the Cycclone Magnetic Engine project.
On September 30, 2022, CDBT and Cycclone Magnetic Engine Developments Limited entered into an Operating Agreement for The Amended Share Exchange Agreement giving effective control of Cycclone Magnetic Engine Developments Limited and the wholly owned subsidiaries.
Cycclone Magnetic Engines is engaged in the development and commercialization of new geometric configuration low carbon emission engines and other clean technology solutions with a view to create technologies that improve efficiency and reduce levels of greenhouse emissions. Cycclone has shareholding, assets, and interests in transport operations in Australia.
Micheal Nugent
mnugent@nugent.com.au
www.cdbtcycclone.com (to be published)
USA +1 775-580-4544
AUS +61 438 158 688
Safe Harbor Statement
Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, managing growth, and political and other business risks.
SOURCE: China Dasheng Biotechnology Co.
View source version on accesswire.com:https://www.accesswire.com/778005/CDBT--Cycclone-Magnetic-Engines
