Item 8.01 Other Events.
The Company issued convertible notes, some of which are convertible at 15? per
Share and some are convertible at 10? per Share. The following list shows the
note holders who have converted their notes to common stock.
.15 Conversion Clients Conversion Date
Mei Marker 10/18/2019
Chao Wei - Tan 10/18/2019
Xiao Ning Xu 10/18/2019
Mary Manruo Shen 10/18/2019
Amy Yunyun Zhan 10/18/2019
Xiao Hui Cui & Hao Xu 10/18/2019
Rui Gong 10/18/2019
Weizhi Ding 10/18/2019
Jun Wang 10/18/2019
Yu Qi Zhang- Fredericks 11/11/2019
Ting Li 11/12/2019
Qui Hua Wang 11/06/2019
.10 Conversion Clients
May Lin Smith 03/03/2020
Jintao Zou 03/03/2020
Chuck Chen 03/16/2020
Suiling Linda Wong 04/06/2020
Ping Tang 03/31/2020
Kan Zhang 03/03/2020
Forward-Looking Statements
Certain statements herein and in the exhibits attached hereto, are
"forward-looking statements" made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements reflect the Company's current expectations or beliefs concerning
future events, and actual results of operations may differ materially from
historical results or current expectations. Any such forward-looking statements
are subject to various risks and uncertainties, including risks related to the
terms of and potential transactions contemplated by the Company's proposed plan
of reorganization, the anticipated mailing date of solicitation materials to the
Company's securities holders, the ability of the Company to obtain requisite
support for the reorganization from various stakeholders, the ability of the
proposed plan of reorganization to satisfy all the requirements necessary for
confirmation by the Bankruptcy Court, the ability of the Company to successfully
execute the transactions contemplated by the reorganization plan without
substantial disruption to the Company's business, the high costs of bankruptcy
proceedings and related fees, including the risk that the restructuring will
take longer than anticipated, the actions and decisions of the Company's
creditors and other third parties who have interests in the reorganization that
may be inconsistent with the Company's operational and strategic plans, the
ability of the Company to continue as a going concern, and the effects of
disruption from the proposed restructuring making it more difficult to maintain
business, financing and operational relationships and to retain key executives.
Forward-looking statements are also subject to various risks and uncertainties
related to the Company's business, such as its ability to anticipate and timely
respond to changes in trends and consumer preferences, the strength of the
global economy, competitive market conditions, its ability to attract and retain
key personnel, its ability to successfully develop, launch and grow its newer
concepts and execute on strategic initiatives, product offerings, sales channels
and businesses, its ability to implement its growth strategy, material
disruption to its information systems, compromises to its data security, its
ability to maintain the value of its brands and protect its trademarks, its
ability to implement its business strategy, changes in demographic patterns,
adverse or unseasonable weather or other interruptions in its operations, trade
restrictions or disruptions, the impact of potential global health emergencies
such as COVID-19 (coronavirus) pandemic, including potential negative impacts on
the global economy, product demand, foreign sourcing and operations generally
and other factors which are set forth in the section entitled "Risk Factors" and
elsewhere in the Company's Annual Report on Form 10-K for the May 31, 2019
fiscal year and in all filings with the Commission made subsequent to the filing
of the Form 10-K through today's date and any information that is otherwise
provided to investors. Because of the factors described above and the inherent
uncertainty of predicting future events, the Company cautions you against
relying on forward-looking statements.
2
© Edgar Online, source Glimpses