Current Report Filing (8-k)
August 11 2016 - 5:13PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of report (Date of earliest event reported): August 11, 2016
Kiwa
Bio-Tech Products Group Corporation
(Exact
Name of Registrant as Specified in Charter)
Delaware
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000-33167
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77-0632186
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(State
or Other Jurisdiction
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(Commission
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(IRS
Employer
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of
Incorporation)
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File
Number)
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Identification
No.)
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310
N. Indian Hill Blvd., #702
Claremont,
California
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91711
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (626) 715-5855
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c)
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Item
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers.
On
August 11, 2016, the Board of Directors of Kiwa Bio-Tech Products Group Corporation (OTCQB: KWBT) accepted the resignation of
Jimmy Ji Zhou as a director of the Company with immediate effect. The Board is not currently planning a replacement for Mr. Zhou
and the Company’s Board of Directors will thereafter comprise four (4) members. Mr. Zhou submitted his resignation to pursue
other interests.
Concurrently,
Mr. Zhou has agreed to take a leave of absence from his employment with the Company commencing August 11, 2016 through September
20, 2016. During his leave of absence, Mr. Zhou is relieved of all responsibilities as the Company’s President, Chief Executive
Officer and Chief Financial Officer and such responsibilities shall be assumed by Yvonne Wang, the Company’s Chief Operating
Officer. Effective August 11, 2016, the Company’s Board of Directors has assigned Ms. Wang the additional titles of Acting
President, Acting Chief Executive Officer and Acting Chief Financial Officer.
The
Company has entered into a Settlement Agreement with Mr. Zhou dated as of August 11, 2016 whereby the Company has agreed to make
certain payments of cash and Company Common Stock to him not later than September 20, 2016. Upon the making of these payments,
Mr. Zhou has agreed to leave the employ of the Company and permanently resign as an officer of the Company. Mr. Zhou has advised
the Company that the reason for his resignation is to pursue other interests.
Item
9.01 Financial Statements and Exhibits.
(d) Exhibits
None
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated:
August 11, 2016
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Kiwa
Bio-Tech Products Group Corporation
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By:
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/s/
Yvonne Wang
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Name:
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Yvonne
Wang
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Title:
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Acting
President
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