Item 5.01 Changes in Control of Registrant.
Pursuant to certain Stock Purchase Agreement (the "Agreement"), entered into as
of August 12, 2020, as amended, by and between Xin Jiang (the "Purchaser") and
Itzhak Ostashinsky (the "Seller"), a controlling stockholder as well as Chief
Executive Officer, Chief Financial Officer, President, Secretary and director of
New Leap, Inc., a Delaware corporation (the "Company"), the Seller sold to the
Purchaser 8,000,000 shares of common stock, par value $0.0001 per share, of the
Company, representing 78.4% of the total issued and outstanding shares of common
stock as of August 24, 2020, in consideration of $251,176.5 in cash from the
Purchaser's personal funds (the "Transaction"). The Transaction resulted in a
change in control of the Company.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In connection with the Transaction, on August 24, 2020, the Seller resigned as
Chief Executive Officer, Chief Financial Officer, President, Secretary and
director of the Company, effective immediately. The resignation was not the
result of any disagreement with the Company regarding the operations, policies
or practices of the Company.
On August 24, 2020, the stockholders of the Company holding an aggregate of
10,101,960 shares of common stock, representing 99.0% of the voting power of the
Company, appointed Xin Jiang as Chief Executive Officer, Chief Financial
Officer, President, Secretary and director to fill the vacancies created by the
departure of Mr. Ostashinsky.
Xin Jiang, 72, has served as Chairwoman of Chengda Technology Co., Ltd., a
company engaged in the production and sales of health supplements in China,
since June 2020. Prior to that, Ms. Jiang was a vendor selling health products
on Taobao, a leading online e-commerce marketplace in China, since 2016. From
2003 to 2016, Ms. Jiang worked at the Tianjin Municipal Archives Bureau. Prior
to that she taught at various middle schools in China from 1976 to 2003,
including Heilongjiang Fuyu Forest Machinery Factory Children's Middle School,
Tianjin Petrochemical Fiber Factory Middle School, Tianjin Hexi District Xingguo
School and Tianjin Nankai District Sixty Six Middle School (now known as
Affiliated High School of Nankai University).
There have been no transactions regarding Ms. Jiang that are required to be
disclosed pursuant to Item 404(a) of Regulation S-K.
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