Finotec Group, Inc. (OTCMKTS:FTGI) Files An 8-K Changes in Control of Registrant
Item 5.01 Changes in Control of Registrant.
On January 25, 2021, as a result of a private transactions, 10,000,000 shares of Series A Preferred Stock, $0.001 par value per share (the "Shares") of Finotec Group, Inc., a Nevada corporation (the "Company"), were transferred from Custodian Ventures, LLC to Yang Fuzhu (the “Purchaser”). As a result, the Purchaser became an approximately 86.95% holder of the voting rights of the issued and outstanding share capital of the Company on a fully-diluted basis of the Company, and became the controlling shareholder. The consideration paid for the Shares was $250,000. The source of the cash consideration for the Shares was personal funds of the Purchaser. In connection with the transaction, David Lazar released the Company from all debts owed to him.
Other than as described below, there are no arrangements or understandings among both the former and new control persons and their associates with respect to the election of directors of the Company or other matters. The information set forth in Item 5.02 of this Form 8-K is incorporated by reference into this Item 5.01.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 25, 2021, the existing director and officer resigned immediately. Accordingly, David Lazar, serving as a director and an officer, ceased to be the Company’s Chief Executive Officer, Chief Financial Officer, President, Treasurer, Secretary and a Director. At the effective date of the transfer, Wei Tian consented to act as the new President, CEO, CFO, Treasurer, Secretary and Chairman of the Board of Directors of the Company.
Yang Fuzhu – President, Chief Executive Officer and Director
Mr. Yang graduated from Jiangsu Vocational College of Electronics and Information (formerly known as Huaiyin Electronic Industry School) in year 1997. Mr. Yang has twenty years’ experience in his career in photography. He established “Red Rose Studio” in 1999, to provide customized photo shooting services such as wedding photo shooting, wedding banquet shooting and portrait photo shooting etc. He is the Founder and Chairman at Haoye Network Information Consultant Limited Company in Wuxi, China from 2009 to the present date, where he was responsible for corporate network system construction, website content optimization, online sales personnel training, online shop system improvement and providing guidance in online industry alliances, etc. From 2011 to the present date, Mr. Yang has served as Founder and Chairman of Lvpai Culture Communication (Shanghai) Company Limited, where he has set up the online platform (“lvpai.com”) as online service marketing provider, providing destination wedding photographer business and city brand name establishment and planning. From 2020 to the present date, Mr. Yang has served as Founder and Chairman of Jiangsu Travel Photography Technology Group Company Limited, where he is responsible for business management and strategic planning.
From 2008 to the present time, Mr. Yang serves as a member of the council of China Portrait Photography, where he is responsible for integrating the member resource and member training. Mr. Yang’s business leadership and professional photography expertise has, in the Company’s estimation, qualified him for his roles as the Company’s President, Chief Executive Officer and Director.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| 99.1 | STOCK PURCHASE AGREEMENT, dated January 25, 2021, by and between Custodian Ventures, LLC and Yang Fuzhu. |
| 99.2 | DIRECTORS RESOLUTIONS, dated January 25, 2021. |
FINOTEC GROUP INC Exhibit
EX-99.1 2 ea133879ex99-1_finotec.htm STOCK PURCHASE AGREEMENT,…
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About Finotec Group, Inc. (OTCMKTS:FTGI)
Finotec Group Inc. is a foreign exchange (FX) prime brokerage company. The Company provides hedge funds, investment managers, professional traders and retail brokers with optimal trading conditions for their FX activities. The Company offers a range of services, which include direct access to all FX liquidity providers, preferential client spreads from the all banks, aggregation of counterparties’ prices and central, single margin account clearing solution. The Company developed a suite of added-value services, which include back-office reporting, hedge-fund set up, performance monitoring, statistical reporting, server hosting, streaming bank prices, processing for immediate clearing and settlement, live quote free execution, accurate, automated give-up notification and confirmation, transparent or anonymous settlement reporting, compliance advice, and training and seminars.
