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• 01-2007
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New Money for a New Beginning : The Company raised HK$54 million new funds through an issuance of 3 billion in new shares, convertible notes and warrants.
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• 01/02-2007
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New Controlling Shareholders Enter The Company : The Company changed its controlling shareholder and management control. The new management comes in with a fresh online gaming concept to enter the China market with P2P tournament games for prizes.
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• 03-2007
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JV with Network Media Center is Official : The Group established a JV relationship with Network Movie Center
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• 03-2007
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International Investors Pledge Funds for New Venture : The Company attracted more than HK$1,100M in investment from international investors. The international investment community is excited about the Company’s prospects of being a first mover in the for prize P2P online tournament gaming market with a strong partner in China.
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• 05-2007
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Company Completes Fund Raising : The Company raised more than HK$700M new equity funding to develop its P2P online game tournament business.
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• 05-2007
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Company Name Changed to Reflect Strong Partnership with Network Media Center : The Company officially changed its name to “C Y Foundation Group Limited” from “Foundation Group Limited”. The addition of “C Y” reflects the company’s close working partnership with Network Media Center.
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• 06-2007
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Company Finalizes T-Matrix Acquisition to Accelerate Tournament Roll Out : The Company announced its acquisition of T-Matrix, a national internet café operator and licensor in China. The acquisition is a key strategic move by the Company to receive a national franchising license. This license allows the Company to operate its online tournaments in internet cafes across China. It also gives the Company a base of 1000 internet cafes to accelerate the roll out of its online tournaments.
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