Item 1.01 Entry into Material Definitive Agreement
On
Immediately after completion of such share purchase, the Company will have a 34%
ownership interest of the total equity of BXYP, with authorized total share
capital of
Consequently, after completion, the Company has the right to assign one or two persons to BXYP to serve as the directors, financial or management officer, to promote the corporate governance, and to participate in the operation and management. The Company shall bear the same proportion of the monthly expenses of BXYP according to the proportion of equity it holds.
Performance betting and share reward
As of
Valuation and reorganization
The Company and TGGI will send teams to cooperate with BXYP's financial audit work and conduct a comprehensive market value evaluation of BXYP's e-commerce platform. After the valuation and audit, the Company and TGGI will consider to wholly acquire all the equity of BXYP for the reorganization through capital or stocks.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits: Exhibit Description 1.1 Investment agreement (English translation version) 2
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