Item 8.01 Other Events.

The Company issued convertible notes, some of which are convertible at 15? per Share and some are convertible at 10? per Share. The following list shows the note holders who have converted their notes to common stock.





.15 Conversion Clients    Conversion Date
Mei Marker                10/18/2019
Chao Wei - Tan            10/18/2019
Xiao Ning Xu              10/18/2019
Mary Manruo Shen          10/18/2019
Amy Yunyun Zhan           10/18/2019
Xiao Hui Cui & Hao Xu     10/18/2019
Rui Gong                  10/18/2019
Weizhi Ding               10/18/2019
Jun Wang                  10/18/2019
Yu Qi Zhang- Fredericks   11/11/2019
Ting Li                   11/12/2019
Qui Hua Wang              11/06/2019

.10 Conversion Clients
May Lin Smith             03/03/2020
Jintao Zou                03/03/2020
Chuck Chen                03/16/2020
Suiling Linda Wong        04/06/2020
Ping Tang                 03/31/2020
Kan Zhang                 03/03/2020




Forward-Looking Statements

Certain statements herein and in the exhibits attached hereto, are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events, and actual results of operations may differ materially from historical results or current expectations. Any such forward-looking statements are subject to various risks and uncertainties, including risks related to the terms of and potential transactions contemplated by the Company's proposed plan of reorganization, the anticipated mailing date of solicitation materials to the Company's securities holders, the ability of the Company to obtain requisite support for the reorganization from various stakeholders, the ability of the proposed plan of reorganization to satisfy all the requirements necessary for confirmation by the Bankruptcy Court, the ability of the Company to successfully execute the transactions contemplated by the reorganization plan without substantial disruption to the Company's business, the high costs of bankruptcy proceedings and related fees, including the risk that the restructuring will take longer than anticipated, the actions and decisions of the Company's creditors and other third parties who have interests in the reorganization that may be inconsistent with the Company's operational and strategic plans, the ability of the Company to continue as a going concern, and the effects of disruption from the proposed restructuring making it more difficult to maintain business, financing and operational relationships and to retain key executives. Forward-looking statements are also subject to various risks and uncertainties related to the Company's business, such as its ability to anticipate and timely respond to changes in trends and consumer preferences, the strength of the global economy, competitive market conditions, its ability to attract and retain key personnel, its ability to successfully develop, launch and grow its newer concepts and execute on strategic initiatives, product offerings, sales channels and businesses, its ability to implement its growth strategy, material disruption to its information systems, compromises to its data security, its ability to maintain the value of its brands and protect its trademarks, its ability to implement its business strategy, changes in demographic patterns, adverse or unseasonable weather or other interruptions in its operations, trade restrictions or disruptions, the impact of potential global health emergencies such as COVID-19 (coronavirus) pandemic, including potential negative impacts on the global economy, product demand, foreign sourcing and operations generally and other factors which are set forth in the section entitled "Risk Factors" and elsewhere in the Company's Annual Report on Form 10-K for the May 31, 2019 fiscal year and in all filings with the Commission made subsequent to the filing of the Form 10-K through today's date and any information that is otherwise provided to investors. Because of the factors described above and the inherent uncertainty of predicting future events, the Company cautions you against relying on forward-looking statements.











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