ACL Semiconductors Inc. (OTCBB:ACLO) entered into a non-binding memorandum of understanding to acquire Systematic Semiconductor Ltd. from Chung-Lun Yang on February 13, 2012. Systematic acquisition is expected to be consummated within 60 days upon the completion of a satisfactory due diligence exercise and is expected to close by July 2012.

ACL Semiconductors Inc. (OTCBB:ACLO) cancelled the acquisition of Systematic Semiconductor Ltd. from Chung-Lun Yang on February 13, 2013.