About Carthew Bay Technologies

About company

Carthew Bay Technologies Inc. ("CBT"), formerly known as Astris Energi Inc., is an Ontario Corporation whose shares are quoted on the Over The Counter Bulletin Board ("OTCBB") in the US, (symbol "CWBYF"). In July 2007, the Company sold its fuel cell technology and related assets to MKU Canada Inc. for total consideration of US$5.8 Million including (i) approximately US$3.1 Million cash; (ii) forgiveness of US$1.6 Million of face value secured convertible debentures held by ACME Global Inc. (parent company of MKU Canada Inc.) plus accrued interest of US$175,000; (iii) redemption and cancellation of 4,248,750 shares acquired by ACME Global Inc. for US$.08 per share for nominal consideration; and (iv) forgiveness of US$600,000 in secured promissory notes.