30 January 2009
Blackhawk Financial Inc. has signed a definitive stock purchase agreement to be acquired by China Winsaint Solar Inc., one of the largest recyclers of silicon wafers for the solar industry in China and a manufacturer of solar panels.
The company's 2008 revenues have increased 1,000% over the past 12 months. Winsaint posted unaudited revenue of approximately $4,200,000 in 2007, compared to $46,000,000 in 2008, with net earnings before taxes of $3,900,000. Investors seeking to own shares in China Winsaint Solar can purchase shares of BLWK in the open market.
Winsaint is in the process of becoming a fully reporting company, with plans to trade on the OTC BB. The company will commence a name change of the recently acquired public company in the near term.