The scope of these agreed- upon procedures has been determined solely by the EUPA
and the procedures were performed solely to assist the EUPA in evaluating the eligibility
To date, EUPA
is aware of at least two successful "buy ins" of naked short selling through the National Securities Clearing Corporation ("NSCC").
Jacky Chang, Chief Financial Officer of EUPA
International, commented, "We are pleased with our results to date and have moved forward to accelerate our plan to derive revenues from EUPA
's research and development activities.
These patent transfers should be an exceptional step toward increased profitability as these new patent holdings will reflect in greater overall net income for the company," stated Jacky Chang, Chief Financial Officer of EUPA
This share re-purchase highlights the confidence the Tsann Kuen Group has in the operation of EUPA
International," said a Company spokesperson.
is optimistic that, as the global economic recovery picks up momentum, retailers will see an increase in demand for EUPA
Total revenues for EUPA
during the first five months of the year were approximately US$23.
To conduct an On The Spot (Audit) After the Action ( OTS Audit ) to ensure that funds have been utilised in accordance with the EUPA
beneficiary contractual agreement.
Contact: Jacky Chang of EUPA
INTERNATIONAL CORPORATION, +886-2-22771288, or Fax: +886-2-22765356
In response, EUPA
intends to take steps to counter the short sellers and restore investor confidence in its shares.
The Tsann Kuen Group is considering investing more capital into EUPA
for opening new "3C" retail stores across China.