Moxian, Inc. (NASDAQ:MOXC) Files An 8-K Termination of a Material Definitive Agreement
As previously announced, on August 27, 2020, Moxian, Inc (the “Registrant”) entered into a Share Exchange Agreement (the “Share Exchange Agreement”), with Btab Group, Inc (“BTAB”) for the exchange of (a) 59,270,000 shares of the common shares of BTAB for 59,270,000 shares of its new common shares and (b) 50,000,000 shares of BTAB Class B shares for 50,000,000 of its new Class A Preferred Shares.
On February 28, 2021, the Registrant and BTAB mutually agreed to terminate the Share Exchange Agreement, with immediate effect. Because the termination was by mutual agreement, neither party will bear any early termination fees or have any terms or conditions apply that are material to the Registrant.
Effective February 28, 2021, Mr. James Tan Meng Dong and Dr. David Cheang Sien Chan resigned as members of the Board of Directors of the Registrant. The resignations were for personal reasons and were not the result of any disagreement with the Registrant, the Registrant’s management or the Board.
Following the departure of both directors, the Registrant will continue to satisfy the Board of Directors composition requirements because (i) the Board of the Registrant will continue to have a majority of independent directors following such resignations and (ii) the standing committees will each continue to consist of three independent members of the Board.
99.1 Press release dated March 3, 2021.
Moxian, Inc. Exhibit
EX-99.1 2 ex99-1.htm Exhibit 99.1 Moxian terminates proposed merger with Btab Group,…
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About Moxian, Inc. (NASDAQ:MOXC)
Moxian, Inc., formerly Moxian China, Inc. is engaged in the online-to-offline (O2O) business. The Company provides an online platform for small and medium sized enterprises (SMEs) with physical stores to conduct business online, interact with existing customers and obtain new customers. The Company refers to its customers as Merchant Clients and the users of its mobile application and platform that are the Merchant Clients’ existing customers as Users. Its products and services are designed to allow Merchant Clients to conduct targeted advertising campaigns and promotions. The version of its platform is called Moxian+, which consists of its user mobile application, Moxian+ User App and a separate application for its Merchant Clients, the Moxian+ Business App. Both versions of the application are available in the Google Play Store and the Apple application Store. The Moxian+ User App provides access to a social media platform with a package of services.