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Jeantex amends filings to reflect divestiture of Lexor International

03 Apr '06

2 min read

Apparel maker of denim goods and accessories Jeantex Group Inc announced that it will file an amended Form 10KSB for the year ended December 31st 2004 and amended Forms 10QSB for the quarters ended March 31st 2005 and June 30th 2005 to properly reflect the pro-forma divestiture of Lexor International Inc, which operated a pedicure spa business under Lexor Holdings Inc prior to March 31st 2005.

According to the divestiture agreement, the company issued a promissory note in the amount of $250,000 and returned 100 percent of Lexor International Inc to Christopher Long, in exchange for the cancellation of 10,867,000 shares of the company's common stock held by Christopher Long and his spouse.

Christopher Long and Lexor International Inc also agreed to assume all the liabilities in connection with the old pedicure spa business under Lexor International Inc.

Henry Fahman, Chairman of Jeantex Group Inc, stated, "It is important for us to amend these reports to comply with the SEC requirements and properly reflect the divestiture of the old pedicure spa business. However, these amended filings will not affect the operations of Jeantex Group Inc as the company has refocused its core business in the design, development, manufacturing, and marketing of consumer products for the apparel markets."

Jeantex Group Inc, through its wholly owned subsidiary Jeantex Inc, engages in the design, development, manufacturing, and marketing of consumer products for the apparel markets worldwide.

Jeantex Group Inc

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