Current Report Filing (8-k)
July 30 2018 - 6:24PM
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): July 30, 2018 (July 28, 2018)
National
Art Exchange, Inc.
(Exact
name of registrant as specified in its charter)
Nevada
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333-199967
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30-0829385
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(State
or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification No.)
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200
Vesey Street, 24Fl, Unit 24183
New
York NY 10281
(Address
of Principal Executive Offices)
+646-952-8680
(Issuer’s
telephone number)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to 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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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
7.01 Regulation FD Disclosure
On
July 28, 2018, National Art Exchange, Inc. (the “
Company
”) issued a press release on its website disclosing
that it entered into a strategic management agreement (the “
Agreement
”) with Antique World Inc. (“
AW
”)
on July 16, 2018, pursuant to which the Company authorizes AW as its exclusive agent to sell the Company’s inventory of
antiques and art on AW’s blockchain-based trading platform (the “
Platform
”) when such Platform is successfully
launched. In accordance with the terms of the Agreement, the Company shall obtain and maintain proper insurance on its inventory
of antiques and art (the “
Managed Inventory
”) and retain its title over such Managed Inventory. As stated in
the Agreement, AW shall digitize and tokenize the Managed Inventory in order to sell it on the Platform once in operation. The
Company and AW are affiliated entities under common control of certain primary shareholder. The management of the Company believes
the Managed Inventory is worth of at least $627 million based on the prior insurance value of such Managed Inventory provided
by China Pacific Insurance Company. However, it may not be inferred that such insurance value of the Managed Inventory shall be
recorded fully or at all on the Company’s balance sheet. The Agreement has a term of one year and is subject to automatic
renewal of additional one-year periods unless either party gives a 90-day termination notice with or without cause. A copy of
the press release referred to the above is attached hereto as Exhibit 99.1.
The
information contained in this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended (the “
Exchange Act
”), or incorporated by reference in any filing
under the Securities Act of 1933, as amended (the “
Securities Act
”) or the Exchange Act, except as shall be
expressly set forth by specific reference in such a filing. The furnishing of the information in this Current Report on Form 8-K
is not intended to, and does not, constitute a representation that such furnishing is required by Regulation FD or that the information
contained in this Current Report on Form 8-K constitutes material investor information that is not otherwise publicly available.
This
Current Report on Form 8-K and exhibits may contain these types of statements, which are “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of 1995, and which involve risks, uncertainties and reflect
the Registrant’s judgment as of the date of this Current Report on Form 8-K. Forward-looking statements may relate to, among
other things, operating results and are indicated by words or phrases such as “expects,” “should,” “will,”
and similar words or phrases. These statements are subject to inherent uncertainties and risks that could cause actual results
to differ materially from those anticipated at the date of this Current Report on Form 8-K. The Company disclaims any obligation
to, and will not, update any forward-looking statements to reflect events or circumstances after the date hereof. Investors are
cautioned not to rely unduly on forward-looking statements when evaluating the information presented within.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits.
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.
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National
Art Exchange, Inc.
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Date:
July 30, 2018
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By:
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/s/ Qingxi
Meng
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Name:
Title:
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Qingxi
Meng
Chief
Executive Officer
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National Art Exchange (GM) (USOTC:NAEX)
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