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Company Description (as filed with the SEC)
contractually-controlled entity in the PRC named Xi'an Kingtone Information Technology Co., Ltd., a PRC limited liability company ("Kingtone Information") that develops and provides mobile enterprise solutions in the PRC. In May 2010, we consummated an initial public offering of our American Depository Shares, or ADSs, for gross proceeds of $16 million, and our ADSs were listed on the NASDAQ Capital Market under the ticker symbol "KONE". Kingtone Information was incorporated in Xi'an in Shaanxi Province as a company limited by stocks on December 28, 2001. When it was incorporated, it had a registered capital of RMB50 million and its name was Xi'an TechTeam Intelligent Technology Stock Co., Ltd. Kingtone Information increased its registered capital to RMB56,000,000 on June 16, 2008 and changed its name to the current name on November 5, 2003. Kingtone Information is majority-owned by Mr. Tao Li, our chairman. ... More ...