Yasheng Eco-Trade Corp. said on Monday that it entered into a preferred stock purchase agreement in which an entity of Socius Capital Group LLC will give it up to $5 million over time.

Yasheng of Beverly Hills, which is developing a logistics center and eco-trade cooperation zone project in Victorville, agreed to sell up to 500 shares of its Series D preferred stock in stages at a price of $10,000 per share. In each tranche, Socius also will receive five-year warrants to purchase a number of common shares of Yasheng equal to 135 percent of the value of preferred stock delivered in the tranche.

Common stock shares were up less than 1 cent to 2 cents in midday trading on the Over-the-Counter Bulletin Board.