Item 5.01. Changes in Control of Registrant.
On August 31, 2022, Strategic Acquisitions, Inc., (the "Company" or the
"Registrant") underwent a change in control. In a private transaction, Exworth
Management LLC ("Exworth") purchased an aggregate of 2,013,000 shares of the
Company's common stock, par value $0.001 ( "Common Stock"). The shares of Common
Stock were purchased from the following sellers: 1,525,000 shares from the
previous controlling shareholder, NextCoal International, Inc.; 453,000 shares
from the Company's President, John P. O'Shea; 10,000 shares from the Company's
Secretary/Treasurer, Marika X. Tonay; and 25,000 shares from a private seller.
The aggregate consideration for such shares was $650,005.16 and the source of
funds was from the working capital of Exworth Management LLC.
The Company has 2,715,000 Common Shares issued and outstanding. Exworth's
2,013,000 Common Shares represent approximately 74.1% ownership in the Company.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
With the change in control, effective at the close of business on August 31,
2022, Marika X. Tonay resigned as Secretary/Treasurer and Director of the
Company and Jonathan Braun resigned as Director and Chairman of the Board of the
Company. Concurrently, Dr. Yuanyuan Huang was appointed Secretary/Treasurer and
a Director of the Company and Dr. Wei Huang was appointed a Director of the
Company. Yuanyuan Huang and Wei Huang are both managing partners of Exworth, the
new controlling shareholder. John P. O'Shea has retained his positions as
President and Director of the Company.
Additional information about the new officers and directors is as follows:
Dr. Yuanyuan Huang, 43,is a managing partner of Exworth Management LLC, a
private investment firm, since Jan, 2021. He has also served as the Managing
Member of Fundin, LLC, a consulting firm providing information technology
consulting services, since 2018. Between 2018 to 2020, Dr. Huang also served as
Venture Partner of Efund City LLC, a fintech company, and was a member of the
Investment Committee of Efund City Metro Income Fund LLC, a real estate
investment company. Between 2008 and 2018, he worked at several boutique
brokerage firms. Dr. Huang holds a Ph.D. in Physics from the College of William
and Mary and a master's degree in Finance from George Washington University.
Dr. Wei Huang, 43, is a managing partner of Exworth Management LLC, a private
investment firm since Jan, 2021. Since 2017, he also founded and serves as
Chairman of the Board of Dake Data, LTD, a Shenzhen-based company with a
proprietary AI, Blockchain and Cloud computing solution. From 2013 to 2018, Dr.
Huang worked at ION Geophysical as a technical advisor for various oil and gas
projects. Dr. Huang holds a bachelor's degree from the University of Science and
Technology of China, a master's degree in mathematics from the University of
Wisconsin and a PhD degree in Geophysics from the University of Houston. Dr.
Huang has published more than a dozen papers and holds two international
patents.
In consideration for their services, the Company granted the departing and
continuing Directors warrants to purchase shares of Common Stock as follows:
37,129 warrants to John P. O'Shea, 112,137 warrants to Jonathan Braun and 734
warrants to Marika X. Tonay. The warrants were issued August 31, 2022 and are
valid for a period of 5 years from issuance at an initial purchase price of
$1.20 per share of Common Stock, subject to adjustment and registration rights.
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STRATEGIC ACQUISITIONS, INC. 
