JAT has agreed to establish a joint venture company to be known as JWR International Limited ("JWR"). JWR will develop, manufacture and sell cosmetic products in China, Hong Kong, Korea and Australia. The joint venture agreement provides that JWR will be incorporated in Hong Kong and will be 50% owned by JAT. The other 50% shareholder is Zhi Chen, an experienced executive in China having expertise in brand promotion and marketing development. JWR will establish its own brand name for the cosmetic products which will be manufactured in Korea. The parties expect the products will start to sell in the market late 2019.