On June 3, 2019, our wholly-owned sub-subsidiary, Yaxi International Inc. (also known as AHI International Inc. and formerly known as Da Ren International Development Inc.), a Taiwan (R.O.C.) corporation, entered into an agreement to sell 37,273.68 square meters of undeveloped land (the “Agreement”), consisted of three parcels in the Darong Section, Taichung City, Beitun District, Taiwan (R.O.C.) to Chang Cheng-Sung, a non-affiliate, in exchange for TWD 31,646,915 (the “Purchase
Price”). The Purchase Price for the Property shall be paid by the Buyer to Seller by transferring to Seller the 1,068,091 shares of common stock in San Lotus Holding Inc., par value US$1 at closing. The closing of transaction under Agreement shall be held on or before August 10, 2019.
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