The Crone Law Group Represents Dachang Hui Autonomous County Baosheng Steel Products Co., Ltd. in Reverse Acquisition
BEIJING, May 4 /PRNewswire-Asia/ -- The Crone Law Group (the "Firm" or "CLG"), a corporate and securities law firm providing strategic legal services for emerging companies, entrepreneurs and publicly traded entities, announced today that it represented, Dachang Hui Autonomous County Baosheng Steel Products Co., Ltd., ("Buddha Steel") a Hebei, China based steel producer, in its reverse acquisition of the Bulletin Board company A.G. Volney Center, Inc. (OTC Bulletin Board: AGVO) effective April 28, 2010. This is the third reverse acquisition completed by a CLG client in the past 8 weeks.
Buddha Steel is a leading producer and vendor of high value-added, ultra-thin precision cold rolled steel products. Buddha Steel had revenues of approximately $276 million in 2009 as compared to $186 million in 2008, an increase of 48%. Net income increased by 87% from approximately $6.3 million in 2008 to nearly $11.8 million in 2009. In the share exchange, the shareholders of Buddha Steel gained control of approximately 98.75% of A.G. Volney Center, Inc. A.G. Volney Center, Inc. will be renamed Buddha Steel, Inc. to better reflect the company's business.
"We are pleased to include Buddha Steel to our expanding list of U.S. listed, Chinese based clients," commented Crone Law Group Founder, Mark E. Crone, Esq. "Our team's in-depth experience in providing legal council to Chinese companies merging with U.S. listed companies combined with our highly skilled mandarin speaking SEC lawyers continues to enable us to assist China based companies to expeditiously complete their plans to go public in the US."
The Crone Law Group team that assisted Buddha Steel with the reverse acquisition included attorneys Ryan Nail and James Shafer and paralegal Falyn Jackson based in San Francisco and Mr. Crone and paralegal Linxiao Han based in the Beijing, China office.
About Crone Law Group
The Crone Law Group is a San Francisco, California-based corporate and securities law firm with additional offices in Beijing, China and Los Angeles, California. The Firm's expertise includes providing legal services for reverse mergers, corporate finance, M&A and U.S. securities law matters as well as business and securities litigation services. CLG has built a strong presence in China with over 6 years experience providing legal services to U.S. listed companies with operations in China. The Firm has experienced Mandarin speaking attorneys and staff and has represented over 30 China based clients. CLG has established a robust practice over the past 10 years through its strong understanding of the needs of small public and private companies, creative fee structures and big firm quality service at small firm prices. Additional information can be found at the Company's website http://www.cronelaw.com .
For more information, please contact:
Mark E. Crone
Phone: +1-415-955-8900 (office)
+1-860-202-6845 (cell)
+86-139-1125-8294 (China cell)
Email: [email protected]
Linxiao Han
Phone: +86-10-6561-8959 (office)
+86-159-1076-7893 (cell)
Email: [email protected]
SOURCE The Crone Law Group
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