On December 26th, 2022, Icon Media Holdings, Inc. (“ICNM”), through Eastwin8 Pte Ltd (Eastwin8), a Singapore subsidiary, 100% owned by ICNM, entered into a definitive agreement with Kuora Inc.,
through which Eastwin8 purchased 100% of the paid up capital of Kuora, Inc (China) (or Xi;an Xiaohuangren Industrial Interconnect Data Technology Limited) and all its subsidiaries.
On January 26, 2023, Icon Media Holdings, Inc. issued 521 Series A preferred shares and 39,947,500 Common Stock of Icon Media Holdings, Inc. to Kuora Inc., as the consideration of acquiring Kuora, Inc (China) described above.
Therefore, the Company becomes an investment holding company after receiving the above 521 Series A preferred shares and 39,947,500 Common Stock of Icon Media Holdings, Inc.