On August 28, 2017, the Board of Directors of American Education Center Inc. approved the appointment of Mr. Max Pu Chen, President and Chief Finance Officer of the company, as its new Chief Executive Officer when the employment contract of Mr. Jonathan McKeage, current CEO of the company, ends on August 28, 2017. The effective date of Mr. Chen's appointment as the company's new CEO is August 29, 2017. Mr. McKeage will remain as a senior advisor of the company, assisting Mr. Chen in the implementation of the Company's strategic and business plans.

The appointment of Mr. Max Chen as the company's CEO is the result of the Board's decision to reorganize and expand its senior management team, and properly realign its internal resources and strategic priorities in connection with its planned up-listing to a national exchange such as Nasdaq or New York Stock Exchange. In conjunction with Mr. Chen's appointment, the company has engaged Mr. Anthony S. Chan, CPA, President of CA Global Consulting Inc., a seasoned finance executive with over 25 years of professional experience, as its senior financial advisor to assist senior management in the assessment of the company's governance, risk management and compliance functions; enhancement of its finance and accounting functions; evaluation of M&A opportunities; refinement of the company's business initiatives and growth strategies; and development of an actionable plan to up-list the company to the main board.