Incorporated in the State of Nevada on March 31, 2010, Q Lotus Holdings, Inc. is a development-stage company that lists on the OTCBB. The organization of the Company is to operate as a diversified financial services company. To date, their operations have been limited to their formation, business planning, pursuit of capital and exploring possible acquisitions.
The Company plans to diversify their business into four operating segments. These four are Transportation; Specialty Lending; Real Estate Operations, and Natural Resources. They plan to operate as a diversified financial services company where they will make capital investments in an array of privately-held companies.
Q Lotus Holdings, Inc. anticipates that their primary revenue-generating center will come from their capital investments (loans and equity) into medium-sized businesses with an established operating history, as well as early stage companies with proprietary technology. The Company will base acquisitions on future growth potential and company leadership. They expect to nurture these businesses, injecting cash and managerial leadership as required.
In addition, The Company owns the rights, titles, and interest in a portfolio of gold and other mineral assets. They received appraisal reports from independent third parties for each of the properties acquired.
In May, Q Lotus Holdings, Inc. announced a Letter of Intent to loan The Plastics Exchange (TPE) up to $25,000,000. Q Lotus Holdings, at any given point in time after the closing date, will have the option to convert the outstanding principal loan amount into an ownership interest in TPE. The Plastics Exchange is a real-time marketplace for anonymously buying and selling domestic and international commodity grade resins (Polyethylene and Polypropylene). TPE acts as a clearinghouse to complete trades.
Also in May, Q Lotus Holdings, Inc. announced that they signed a Letter of Intent to acquire Midwest Business Credit for $20 million. The expectation is that the acquisition will close during the second quarter of calendar year 2011. Midwest Business Credit (MBC) provides secured asset-based financing to companies normally deprived of working capital from traditional financial institutions. Most of the MBC clients are involved in the manufacturing, distribution, and service businesses.