ECO ENERGY TECH ASIA, LTD. (OTCMKTS:EYTH) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a RegistrantItem 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
On September 13, 2018, Eco Energy Tech Asia, Inc. (the “Company”), agreed to convert $300,000 of debt in the outstanding amount of $5,190,020, owed by the Company to Yuen May Cheung, its sole Director and Chief Executive officer, into 8,000,000 shares of the common stock of the Company at a conversion price of $0.0375 per share.
Item 3.02 Unregistered Sales of Equity Securities
to the debt conversion described in Item 2.03 of this Report, on September 13, 2018, the Company agreed to issue 8,000,000 shares of its common stockto Yuen May Cheung, its sole Director and Chief Executive officer, at a conversion price of $0.0375 per share.
About ECO ENERGY TECH ASIA, LTD. (OTCMKTS:EYTH)
Eco Energy Tech Asia, Ltd. is a holding company. The Company is a development-stage company, which has developed a system that designs and builds custom biodomes ranging in size appropriate for global commercial agricultural concerns, as well as small local producers. It provides horticultural solutions, and offers products and services, including Biodomes, Micropropagation and Karma Verdi Brand. It has developed a naturally derived nutrient solution to grow healthy and tasty produce rich in nutrients. It designs and builds climate-controlled Biodomes with Vertical Aeroponic Growing Cabinets that mitigate the risks associated with vegetables, herbs, microgreens and fruits. It intends to provide commercial growers across the world with the plantlets grown in a closed-controlled environment from both seeds and cuttings obtained by micropropagation. It also intends to develop a network of small commercial growers interested in contract growing for the Karma Verdi Brand.