Pay88 Executes Letter of Intent to Acquire China-based QianBao Technology
August 25th, 2006 by info
BARNSTEAD, N.H., June 8, 2006 (PRIMEZONE) — Pay88, Inc. (OTCBB:PAYI) today announced it signed a Letter of Intent with QianBao Technology, a Chinese company. If the contemplated transaction closes, Pay88, Inc. shall acquire certain assets from QianBao Technology, including without limitation, various intellectual property, approximately $300,000 in cash, certain real estate holdings, its online payment platform system, software, domain name and its customer base.
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