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Item 1.01
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Entry into a Material Definitive Agreement.
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On August 15, 2022, AIBEIDA Lifetech Limited. (“AIBEIDA”), a Hong Kong limited liability company, entered into an Investment Cooperation Agreement (the “Agreement”) with America Great Health. (the “Company”) pursuant to which the AIBEIDA agrees to assign 60% of its ownership equity in its wholly owned subsidiary CBD99, Inc., which is currently valued at USD $2,660,000. AIBEIDA will purchase two patents from third parties with total valuation of USD $540,000 and transfer the patent into CBD99, Inc., upon such transfer, the total valuation of CBD99, Inc. will be USD $3,200,000.
The Company will transfer worth of $4.8 million dollars of the Company’s outstanding shares (USD 0.1 per share) to AIBEIDA in exchange for the 60% ownership equity in CBD99, Inc. After such investment, the Company will become 60% shareholder of CBD99, Inc. A stock certificate represents the shares will be issued to AIBEIDA accordingly.
AIBEIDA has the agency rights of the raw material extraction processing and formulation technology and equipment of Hangzhou AIBEIDA Technology Co., Ltd., CBD99, Inc. is a wholly owned subsidiary of AIBEIDA incorporated in April 2018 in Oregon, USA., which has built a production and processing factory with a monthly capacity of 1,000 kg cannabidiol distillate and isolate.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties. Statements containing words such as “may,” “believe,” “anticipate,” “expect,” “intend,” “plan,” “project,” “will,” “projections,” “estimate,” or similar expressions constitute forward-looking statements. Such forward-looking statements are subject to significant risks and uncertainties, and actual results may differ materially from the results anticipated in the forward-looking statements. Differences may result from risks and uncertainties beyond the Company’s control. Additional factors that could materially impact the Company’s results and operations can be found under the caption “Risk Factors” in Zillow Group, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2015 and in the Company’s other filings with the Securities and Exchange Commission. Except as may be required by law, Zillow Group does not intend, nor undertake any duty, to update this information to reflect future events or circumstances.