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by Stockwatch Business Reporter
The TSX Venture Exchange gained 13.80 points to close at 571.00 Wednesday. Robert Meister's shell graduate and tech investment firm, Auralite Investments Inc. (AAAA), has split its shares 4 for 1, leaving it with 290 million shares issued. None of those 290 million shares traded today. Before splitting, Auralite's stock last closed at $3.50 on Monday.
Auralite has made two investments so far. First, it holds 5 per cent of the shares of Evvo Labs Pte. Ltd., a Singaporean information technology company that was founded in 2008. Auralite paid $1.5-million for the 5-per-cent interest. Evvo, a private company, has not provided its recent financials, but it was profitable in the first half of 2017. It then earned $242,000 on revenue of $1.9-million.
Second, Auralite holds $3.03-million worth of debentures of Fourth-Link Inc., a South Korean IT company. In 2017, Fourth-Link lost $24.9-million on revenue of $20-million. Its stock trades on South Korea's Kosdaq board and last closed at the equivalent of $3. The debentures held by Auralite are convertible into 1.63 million shares of Fourth-Link at 1,532 South Korean won (about $1.86). To acquire the debentures, Auralite issued 42 million presplit shares to Fourth-Link's former debenture holders. Among them are Taiwanese brothers Jian Han Chen and Chun Hao Chen, who now hold a combined 75.2 million postsplit shares or 25.9 per cent of Auralite.
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