Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e)

On June 29, 2021, the Company’s disinterested members of the Board of Directors agreed to extend the exercise period of stock options granted to Anthony Brian Goodman, the Company’s Chief Executive Officer, Weitling Feng, the Company’s Chief Operating Officer, and Alan James Young, an employee of the Company (collectively the “Optionees”), which options would have expired on June 30, 2021. The Company’s disinterested members of the Board of Directors extended the expiration date of the options granted to the Optionees until December 31, 2022, which covered options to purchase 466,667 shares of common stock previously granted to Alan James Young at an exercise price of $0.06 per share, options to purchase 5,400,000 shares of common stock previously granted to Anthony Brian Goodman at an exercise price of $0.066 per share, and options to purchase 1,400,000 shares of common stock previously granted to Weitling Feng at an exercise price of $0.06 per share.

The Company filed a Form S-8 registration statement registering Company stock under the 2018 Equity Incentive Plan. The shares underlying the stock options which are being extended are covered under such Form S-8 registration statement.