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MichaelKane

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MichaelKane

Re: SRV1975 post# 13744

Thursday, 07/20/2017 9:51:17 PM

Thursday, July 20, 2017 9:51:17 PM

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On April 1, 2014, the Company entered into a Sale Agreement with William Tien, a related party, in which William Tien will acquire the subsidiary, Zentric HK, for a total purchase price of $1,000 as a direct reduction in the debt owed to him. During the same period, William Tien forgave the Company debt balance of $14,693 which was recorded as additional paid-in capital due to related party relationship.
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