JB and ZJMY Holding Co (JBZY)

[Kranis]

The Company acquired JB & ZJMY Co., Ltd. (“JB”), a Chinese battery manufacturer in December
2016. JB & ZJMY Co., Ltd. was founded in March 2015 with registered capital of 50 million yuan. The
Company has been attempting to enter the electric car market but has thus far been unable to obtain the
necessary license from the Chinese government and for that reason production has been very limited and
profitable operations have not been achieved to the date of this report. The cars that have been produced
using the Company’s technology have been manufactured by an unrelated third-party manufacturer.