Solid Group, Inc., formerly United Paracale Mining Company (UPMC), was incorporated on October 9, 1933 as a mining company. On May 31, 1996, UPMC's new set of stockholders executed deeds of assignment transferring to the company their investments in shares of stock of certain companies as full payment for their subscription to 1.5 billion shares of the company's capital stock. On June 18, 1996, the Securities and Exchange Commission approved the assignment of shares, the change in corporate name to Solid Group, Inc., and the change in its primary purpose to that of a holding company. SGI, through its thirteen (13) wholly-owned subsidiaries, engages in various businesses. These include the operation of a broadband cable infrastructure, development and sale of real estate properties, injected plastics parts manufacturing, and sale of broadcast / professional equipment and accessories. Other businesses of SGI include the operation of repair and service centers of audio and video consumer electronics equipment, video equipment distribution, financing and extension of business, appliance and other loans, and warehousing and logistics services. As of December 31, 2008, SGI had 13 wholly-owned subsidiaries, namely, Solid Broadband Corporation, Solid Electronics Corporation, Solid Video Corporation, Solid Manila Corporation, Solid Manila Finance, Inc., Omni Logistics Corporation, Solid Corporation, Kita Corporation, Solid Laguna Corporation, Brilliant Reach Limited, Zen Towers Corporation, Precos Corporation, and SolidGroup Technologies Corporation. Source: SEC Form 17-A (2008)