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Tuesday, December 17, 2019 3:53:57 AM
Considering China's strict foreign investment policy and the ongoing US-China trade negotiation, there is no assurance that this will be a successful venture.
Previously, the Company intended to raise 6 million US dollars by end of 2019, and the funds were to be used to invest and acquire 45% ownership of the Hartford Hotel to launch second phase construction of the hotel. Due to the US-China trade war and the Chinese government's control over foreign exchange and foreign investment and financing, the original company plan may not achieve financing as scheduled. We are unable to give an accurate schedule of when we will achieve this financing as we must continue to wait until US-China relations improve and Chinese investor confidence rises.
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