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ONE Holdings Corp. : ONE Holdings Acquires Green Planet Bioengineering

^{Published on 2009-07-27 06:06:53, Last Modified on 2009-07-27 06:07:01 - Market Wire}
 

MIAMI, FL--(Marketwire - July 27, 2009) - ONE Holdings, Corp. (formerly Contracted Services, Inc.) (OTCBB: [ CSEV ]) ("ONE" or the "Company") ([ www.onehcorp.com ]), a diversified investment company that owns majority equity interest in private and publicly listed companies, is pleased to announce that it has acquired majority control of Green Planet Bioengineering, Co., Ltd. ("Green Planet") ([ http://www.greenplanetbio.com ]). The acquisition closed July 22, 2009.

ONE acquired in a series of transactions approximately 82% of the shares of common stock of Green Planet on a fully diluted basis. The transaction involved the acquisition of common shares and warrants from the majority shareholders of Green Planet and the acquisition by ONE of Class A Preferred Shares of Green Planet. ONE acquired the shares for a combination of cash and an aggregate of 22,265,613 shares of ONE common stock.

Green Planet recently became a publicly traded company on the OTCBB under the symbol GPLB.OB. Green Planet through its Chinese subsidiary is a high-tech bioengineering enterprise that engages in research and development, production and sale of various extracts from tobacco leaf residues destined for health and beauty products. Green Planet is headquartered in Miami, FL with its main operation located in Sanming and Fuzhou, China. Green Planet 2008 full year results include revenue, EBITDA and net income of $10.4 million, $5.0 million and $3.3 million respectively. In 2009 Green Planet is forecasting revenue, EBITDA and net income of $13.5 million, $6.9 million and $4.8 million respectively.

"We are very pleased to have completed the acquisition of Green Planet. Green Planet is a highly profitable company strategically positioned for accelerated growth. Green Planet is publicly traded on the OTCBB under the symbol GPLB.OB. We intend to maintain such listing and maintain Green Planet as a publicly traded company majority owned by ONE," said ONE President Marius Silvasan. "Green Planet's key products, which include CoQ10 and Solanesol, are experiencing accelerated growth due to their many health benefits. Green Planet is the first of a series of accretive acquisitions we intend to complete. We intend to support Min Zhao's experienced management team with strategic direction and financial oversight to help Green Planet exceed its business plan objectives," added Mr. Silvasan.

"We are delighted to have concluded a transaction with ONE. ONE brings Green Planet the necessary US public market exposure in addition to having the ability to pull from ONE's very experienced management team. We are focused on the growth of our business and the creation of shareholder value. ONE will help us achieve both of these objectives," commented Chairman and CEO of Green Planet, Mr. Min Zhao.

About ONE Holdings, Corp.

ONE Holdings, Corp. ("ONE") (OTCBB: [ CSEV ]) ([ www.onehcorp.com ]), headquartered in Miami, FL, is a diversified investment company that was formed to own majority equity interest in private and publicly listed companies involved in bioengineering, finance, technology and distribution. Through ONE, small private companies gain access to capital, experienced management and strategic insight. ONE intends to build strong synergies amongst all subsidiaries to enhance shareholder value. ONE is working with each subsidiary to promote organic and acquisition driven growth. ONE plans to leverage its financing and distribution subsidiaries to provide ONE's very profitable bioengineering and technology businesses with growth capital and expanded distribution allowing them to achieve scale. As scale is achieved, ONE intends to bring each subsidiary public to maximize value to its investors.

About Green Planet

Green Planet Bioengineering CO., Ltd. ("Green Planet") (OTCBB: [ GPLB ]) ([ http://www.greenplanetbio.com ]), through its Chinese subsidiary is a high-tech bioengineering enterprise that engages in research & development, production and sale of various extracts from tobacco leaf residues destined for health and beauty products. Green Planet is headquartered in Miami, FL with its main operation located in Sanming and Fuzhou, China. Founded in 2005, Green Planet offers a full range of high quality bio-ecological products, which include raw chemical materials such as CoQ10 and Solanesol, organic fertilizers and pesticides and organic health nutrients and supplements. The Company's unique position in the bioengineering industry comes from its R&D, which uses patented cutting-edge methods to create abundant downstream products ranging from plant indigenous medicine, pharmaceutical intermediates to a long list of eco-friendly products.

The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. ONE Holdings, Corp. takes no obligation to update or correct forward-looking statements.