Jiang Bo, Jiang Tao and Wang Di  signed sale and purchase agreement to acquire remaining 51.2% stake in Leaping Group Co., Ltd. from ATIF Holdings Limited (NasdaqCM:ATIF) for $8.1 million on January 14, 2021. Pursuant to the agreement, ATIF Holdings will sell 10.2 million ordinary shares of Leaping in exchange for 5.6 million ordinary shares of ATIF Holdings owned by the buyers, and payment by the Buyers in the amount of $2.3 million plus interest at an interest rate of 10% per annum on the unpaid amount if the principal amount of $2.3 million is not paid by January 14, 2022. All principal and accrued and unpaid interest shall be due on January 14, 2023. After completion of the transaction, ATIF Holdings shall no longer hold any shares of Leaping and Leaping shall no longer be subsidiary of ATIF. The transaction is expected to close on January 29, 2021.