China Teletech Holding Inc (CNCT)

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CNCT bids in 0.0037 1M bidder; 10Q showing joint venture!

CNCT 10Q joint venture formed Liaoning Kunchengyuan Internet Technology Co. Ltd. 8K COMING ANYTIME !

On November 15, 2016, the Company, Liaoning Kuncheng Education Investment Co. Ltd. (“LKEI”), a company organized under the laws of the People’s Republic of China (the “Kuncheng”), and Kunyuan Yang, the sole shareholder of Kuncheng (the “Kuncheng Shareholder”), entered into a certain share exchange agreement (the “Kuncheng Exchange Agreement”) pursuant to which the Company agreed to purchase 51% of the equity ownership in Kuncheng, with the purchase price as an aggregate of 30 million shares of Common Stock issued to the Kuncheng Shareholder (the “Kuncheng Share Exchange”). The Company filed Form 8-K with the U.S Securities and Exchange Commission on November 15, 2016 detailing the transaction; the Agreement was filed as an exhibit to the Form 8-K. The Company issued 10 million shares on January 3, 2017. As of March 31, 2017, 20 million shares are pending issuance.

On May 15, 2017, the Company established a Joint Venture Company Liaoning Kunchengyuan Internet Technology Co. Ltd. in the PRC with LKEI. The Company owns 51% while the LKEI owns 49%.