Item 2.01.
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Completion of Acquisition or Disposition of Assets.
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On September 30, 2017, we
entered into an agreement with Li-An Chu, a director, pursuant to which we transferred to Li-An Chu all of our equity
interest in JinChih International Co. Ltd., a company organized under the laws of the Taiwan, Republic of China, including
all of our interest and rights over the DMS Technology we purchased last January 1, 2016 from
XinyahangDianziGufenYouxianGongsi,in exchange for the cancellation by Li-An Chu of debt that we owe her in the amount of
$70,261, this debt is due and owing by us to Li-An Chu, and for the cancellation of the 500,000 shares of common stock issued
under stock certificate no. CS2-357 issued on July 12, 2016 and the
10,03,333
shares of
common stock issued to Li-An Chu. This transfer resulted from the decision, as a result of our decreasing revenue, continued
losses and inability to raise capital for our business. The transfer was approved by our board of directors and
stockholders who, together, hold approximately 70.40% of our outstanding common stock.
The company led by Chairman
Tee-Keat Ong, is developing new businesses in various fields through careful review and critical selection of new growth
businesses as part of his strategic agendas. We are going to accelerate our product strategy by integrating technology, sales
and solution marketing to ensure sustainable competitive advantage. And in cooperation with Mr. Ong’s newly established
Hong Kong company,we are going to strengthen our core competencies in high technology and green technology businesses, such
as the revolutionary sound wave technology with industrial applications, which will increase internal efficiency and
integrate digital advantages into B2B companies in their sales generation process, while improving their customer experience
from product research, payments, and after sales services, this is in cooperation with Soundnet Technology Company.
We also offer cloud-based fleet maintenance
and vehicle tracking system. This system enables location tracking, preventive maintenance scheduling, statistics and records that
will enhance fleet management, improve safety and service, in cooperation with Data Lake Technology.
We are also marketing digital
wearable technology products and apps that combine the latest in the telecom, microelectronics, sensors and data analysis
technologies to promote well-being and broaden the digital health monitoring services available for the medical industry,
using cloud-computing technology for cheaper and easier data maintenance and upgrades of health monitoring system
networks.
On October 1, 2017, Mr. Tee-Keat Ong
and the Company entered into a loan agreement pursuant to which Mr. Tee-Keat Ong agreed to lend us $50,000 initially with future
loan amount up to $1,000,000, for which we would issue our 5% demand promissory note in the principal amount of $50,000.
On October 1, 2017, Ms. Shoou Chyn Kan
and the Company entered into a loan agreement pursuant to which Ms. Shoou Chyn Kan agreed to lend us $65,000,which include the
loan already made to the firm, with future loan amount up to $1,000,000, for which we would issue our 5% demand promissory note
in the principal amount of $65,000.