Gushen, Inc. (OTCMKTS:GSHN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry Into A Material Definitive Agreement
The information provided in Item 2.01 of this Current Report on
Form 8-K is incorporated herein by reference.
Item 2.01 Completion of Acquisition or Disposition of
Assets
On April 27, 2017, the Company, through its subsidiary Gushen
Holding Limited (GHL), and Greenpro Resources Limited (Greenpro),
a company incorporated in British Virgin Islands, entered into an
Asset Purchase Agreement (the Agreement), to which GHL sold the
assets in Gushen Credit Limited (GCL), a wholly owned subsidiary
of GHL. As consideration thereof, Greenpro agreed to pay for the
purchase price of $105,000. The purchase price was determined
based upon fair value of the Purchased Assets, as defined in the
Agreement filed as Exhibit 2.1, including Deposit in connection
to Tenancy agreement, Electricity Bills, Water Bills and
Telephone Bills, but excluding all cash and cash equivalent of
GCL. The asset disposition was completed on April 27, 2017.
The foregoing description of the Agreement is a summary only and
is qualified in its entirety by the copy of the Agreement filed
as Exhibit 2.1 to this Current Report on Form 8-K and
incorporated herein by reference.
On April 28, 2017, the Company, through its subsidiary GHL, sold
Two (2) ordinary shares of GCL to Greenpro, representing 100% of
ownership, for a total consideration of $0.26 in cash. The
purchase price is determined based on the mutual agreement
between GHL and Greenpro. The company starting from April 28,
2017 ceased to carry on money lending business.
The unaudited pro forma financial information giving effect to
the disposition is filed herewith as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
| (b) | Pro forma financial information: |
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The following unaudited pro forma financial information of the Company is filed as Exhibit 99.1 of this report on Form 8-K and is incorporated herein by reference: |
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Unaudited pro forma condensed consolidated statements of income for the year ended April 30, 2016 and for the nine months ended January 31, 2017 |
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Unaudited pro forma condensed consolidated balance sheet as of January 31, 2017 |
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Notes to the unaudited pro forma condensed consolidated financial statements |
| (d) | Exhibits: |
| Exhibit No. | Description | ||
| 2.1 |
Asset Purchase Agreement, dated as of April 27, 2017, between Gushen Holding Limited and Greenpro Resources Limited |
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| 99.1 |
Unaudited Pro Forma Condensed Consolidated Financial Statements |
Gushen, Inc. (OTCMKTS:GSHN) Recent Trading Information
Gushen, Inc. (OTCMKTS:GSHN) closed its last trading session 00.00 at 1.50 with shares trading hands.