HIGHLIGHT NETWORKS, INC. (OTCMKTS:HNET) Files An 8-K Changes in Control of RegistrantItem 5.01
to a stock purchase agreement (the “Agreement”), by and between Jose R. Mayorquin (the “Seller”) and Xiamen Lutong International Travel Agency Co., Ltd. (the “Purchaser”), on January 29, 2017, the Seller sold 57,000,000 shares of common stock, par value $0.001 per share, of Highlight Networks, Inc. (the “Company”), to the Purchaser in consideration for $133,867.61 in cash from corporate funds of the Purchaser (the “Transaction”). Following consummation of the Transaction, the Purchaser holds 98% of the voting securities of the Company, based on 58,167,600 shares outstanding as of the date hereof. The Transaction has resulted in a change in control of the Company from the Seller to the Purchaser.
Reference is made to the Company’s annual report on Form 10-K for the fiscal year ended June 30, 2017, filed with the Securities and Exchange Commission (the “SEC”) on November 8, 2017, for such information reflecting the Company and its securities that would be required if the Company was filing a general form for registration of securities on Form 10 under the Exchange Act of 1934, as amended.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In connection with the Transaction, Jose R. Mayorquin, the sole officer and director of the Company, resigned from all of his officer positions with the Company, including Chief Executive Officer, President, and Chief Financial Officer, effective immediately upon the consummation of the Transaction but will remain a director of the Company, until ten (10) days following the date on which the Company files a Schedule 14F-1 with the SEC and mails the same to the holders of record of the Company, in connection with the Transaction.
Zhenhui Huang was appointed as the President, Chief Executive Officer, Chief Financial Officer, Treasurer and Secretary of the Company, effective immediately upon the consummation of the Transaction. Mr. Huang, 39, has been serving as a director of Xiamen Lutong International Travel Agency Co., Ltd. since January 2014. From January 2009 to January 2014, he was the general manager of Zhangzhou Baihui Business Service Co., Ltd., an online e-commerce company. Mr. Huang obtained his junior college diploma in medicine from Chinese People's Liberation Army Fuzhou Medical College. Mr. Huang will serve as the Company’s officer for a term of three years.
In addition, Qiyi Zheng was appointed as a director and Chairman of the Board of the Company, effective upon consummation of the Transaction and until the next annual meeting of shareholders of the Company or until his resignation or sooner removal and otherwise until his successor is elected and qualified. Mr. Zheng, 36, has been serving as Chairman of Xiamen Lutong International Travel Agency Co., Ltd. since January 2014. Prior to that, he was the Chairman of Shenzhen Junfu Travel Agency Co., Ltd. from January 2010 to January 2014. Mr. Zheng obtained his junior college diploma in electronics from Fujian Nan’an Practical Art Secondary Vocational School.
Neither Mr. Huang nor Mr. Zheng is currently compensated for serving in any of his positions as an officer or director of the Company. There is no family relationship between any of our directors or executive officers. There have been no transactions regarding Mr. Zheng or Mr. Huang that are required to be disclosed to Item 404(a) of Regulation S-K.
About HIGHLIGHT NETWORKS, INC. (OTCMKTS:HNET)
Highlight Networks, Inc. is a development-stage company engaged in the business of planning, development and operation. The Company is engaged in organizational and equity fund-raising activities. The Company focuses on recycling, refining, metals trading and assisting in metal recovery, with a focus on precious metals refining from electronic waste. The Company is also engaged in third party contract services. The Company has not generated any revenue.
