"At Edifier’s eleventh meeting of the Board of Directors December 7, 2011 meeting, considered by “the acquisition of Japanese STAXLtd. 100% stake in the motion.” The Board confirms that its own funds, in cash to acquire Japanese STAXLtd.100% equity, the transaction price of 120 million yen (according to December 6, 2011 Exchange 100 yen exchange 8.1411 yuan exchange rate, equivalent to 9.77 million yuan) . “Equity Transfer Contract” on December 6, 2011 signed, and in consideration by the Board of Directors and approved by relevant Chinese department of commerce for the record effect only."
9.77m Chinese Yuan=1.5m USD
PS. Sorry for the typo, it is 1.5m USD
Edited by brobilly - 12/9/11 at 7:38pm