Gifa Inc (GIFX)

[Ronin_Trader]

As reported in the Annual Report, we anticipate that we will undertake contemporaneous negotiations with the Company’s founder that if successful will allow the Company to divest the Subsidiary (the “Divestiture”) and to allow the Company to acquire GIFA Holding Limited (the “Acquisition”). The terms and conditions of the planned Divestiture and the planned Acquisition have not been finalized but we anticipate that if we are successful in completing these negotiations, we will likely focus our resources solely upon the business currently conducted by GIFA Holding Limited.