Eternity Healthcare Inc. (fka ETAH)

[funnyG986]

ETAH 10K out. huge funding $31.36 million support mentioned. big plans for stem cell business in China. 1.4 Billion ppl going to use their service

Subsequent Event


The Company has performed an evaluation of subsequent events through the date the financial statements were issued, and has determined that there are no other events that are material to the financial statements except for those have been discussed below.



On May 10, 2018, Guizhou Tongren entered into a Procurement Consignation Agreement with Shenzhen Dongyang and consigned Dongyang Medical to procure a series of medical equipment in total amount of approximately $31.36 million (RMB 198.57 million) that Guizhou Tongren will need to carry out its planned cell storage, transformation and application service business. Pursuant to the agreement, Guizhou Tongren shall pay the purchasing price to Dongyang Medical within 5 years after the equipment is accepted by Guizhou Tongren. Any unpaid balances will bear 10% interest annually from the date of acceptance, and the interest is payable every 6 months.



On June 21, 2018, Guizhou Tongren received RMB2 million (approximately $315,891) subsidy for Guizhou Tongren facility building fitment from Tongren Hi-tech Industrial Development Zone Management Committee (the “Management Committee”).



On June 25, 2018, Guizhou Tongren made in aggregate RMB1.64 million (approximately $259,031) loans to 2 third-party Companies. The loans’ term is 3-month and bear 12% per annum interest.

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