AiXin Life International Inc (AIXN)

[$hellKing]

From 10q



On December 20, 2016, AWLD, and China Concentric Capital Group, Inc. (“Purchaser”) entered into a Stock Purchase Agreement, as amended, by which AWLD will sell all 43,822,001 shares of the Company’s common stock that Algodon owns, in addition to any additional shares AWLD may currently own, to the Purchaser for $260,000 (the “Purchase Price”). AWLD will assign to the Purchaser at the closing contemplated by the Stock Purchase Agreement all its right, title and interest to amounts payable to AWLD for non-interest bearing advances to the Company, which advances, as of August 31, 2016 were in the aggregate amount of $131,487 and as of November 30, 2016 were in the aggregate amount of $148,087, and such any additional advances that may be made to the Company up until the closing date as set forth in the Stock Purchase Agreement.



As a result of the completion of the agreement, the Purchaser will assume control of the Company and will replace the Company’s board of directors. The Company filed a Schedule 14F-1 on December 23, 2016 to report the potential change in directors of the Company which will occur without a shareholder meeting or consent, but rather will occur as a result of the transaction. If the change of control occurs and the new directors and officers take office, the Company will report it on a Form 8-K as required by Items 5.01 and 5.02 thereof.



The Stock Purchase Agreement may be terminated by AWLD if the balance of the Purchase Price is not paid in full on or before January 4, 2017 unless otherwise extended by agreement of all the parties, or if the Purchaser fails to comply with the material terms of the Stock Purchase Agreement. The Purchaser may terminate the Stock Purchase Agreement if AWLD fails to deliver the due diligence documents requested prior to December 29, 2016 unless otherwise extended by agreement of all the parties, or if AWLD fails to deliver the documents transferring the Shares to the Escrow Agent.


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