Item 1.01 Entry into a Material Definitive Agreement.
On March 15, 2022, Time Capital Management Inc., a New York corporation ("Time
Capital") and a wholly owned subsidiary of Wave Sync Corp. (the "Company"),
entered into a business consulting agreement (the "Agreement") with Pengfei Xie,
Zaixian Wang and Bingjiang Wang (collectively, the "Clients"), pursuant to which
Time Capital, as a business consultant, shall provide investment and financial
advice in relation to Clients' funds of a total of one million dollars
($1,000,000.00) (the "Funds") together with the income attributable to such
Funds (the "Account") for a period of one year from the date of the Agreement to
March 15, 2023. Subject to the terms and conditions of the Agreement, Time
Capital shall be entitled to a performance-based profit allocation of 8% of the
Account's net profits (the "Consulting Fees") payable quarterly to Time Capital
for the services it provides.
Before their entry into the Agreement, no material relationship existed between
the Company or Time Capital on one hand and the Clients on the other hand,
except that 1) Zaixian Wang is a shareholder of the Company and 2) Zaixian Wang
is the father of Warren Wang who in-turn is the control person of PX SPAC
Capital Inc., one of the principal shareholders of the Company.
1© Edgar Online, source Glimpses
WAVE SYNC CORP. 
