Thursday, April 20, 2023 12:43:00 PM
[JAKG for the issuance of 10,000,000 shares of the Company’s common stock. JAKG through its China based subsidiaries,]
previously as shell company, until December 24, 2022, as the Company was dormant and had no or little operations.
The Company’s status as a shell company has changed. As of December 24, 2022,
the Company was no longer a shell company.
https://www.otcmarkets.com/stock/IHGP/disclosure
https://www.otcmarkets.com/otcapi/company/financial-report/358931/content
The reason the Company believes it is no longer a Shell Company under the SEC's definition is as follows:
On December 14, 2022, the Company entered into a Definitive Share Exchange Agreement with Jun Ankang Group Holding Ltd,
a British Virgin Islands corporation (“JAKG”), whereunder the Company acquired 100%
ownership interest in JAKG for the issuance of 10,000,000 shares of the Company’s common stock. JAKG through its China based subsidiaries,
Sichuan Junankang Aishang Health Technology Co., Ltd., is a health industry company mainly focusing on medical care,
pension, combination of medical care, health care, community care, home care,
community medical care, and home care, and has launched online
and offline health care services.
The transaction closed effective December 24, 2022 and has been treated as a business combination under common control,
resulting in JAKG becoming a wholly-owned subsidiary of the Company.
As such, the Company recognized the assets and liabilities of JAKG acquired in the reorganization, at their historical carrying amounts.
The Company is an operating company with more than nominal non-cash assets and more than nominal operations.
This can be confirmed in the financial statements included in the Annual
Report for the year ended December 31, 2022, which has been published on the OTC Markets.Jun An Kang Group Inc. f.k.a. Interact Holdings Group, Inc
/s/ Hongbin Xu
Hongbin Xu, President & CEO
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