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Thursday, February 09, 2017 8:53:54 PM
On February 2, 2017, China Concentric Capital Group Ltd., a British Virgin Islands company (“China Concentric”), the owner of 43,822,001 shares (the “Shares”), representing approximately 96.5%, of the outstanding common stock of Mercari Communications Group, Ltd. (the “Company”), sold to Mr. Quanzhong Lin, an entrepreneur resident in the People’s Republic of China, 29,521,410 of the Shares, representing approximately 65% of the outstanding shares of the Company’s common stock, for a purchase price of $300,000, pursuant to a Stock Purchase Agreement dated December 21, 2016 (the “Purchase Agreement”).
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