UBI BLOCKCHAIN INTERNET, LTD. (OTCBB:UBIA) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02 Unregistered Sales of Equity Securities
On May 1, 2017, UBI Blockchain Internet, Ltd. ("the Company" or the "Registrant") issued 500,000 unregistered restricted Class A common shares, par value $0.001, of UBI Blockchain Internet, Ltd., to a independent consultant. This shareholder received Class A common shares based on consulting services to be performed for the Company.
These shares were issued in reliance on the exemption under Section 4(2) of the Securities Act of 1933, as amended (the "Act"). The issuance of these shares by us did not involve a public offering.
The Company did not engage in any form of general solicitation or general advertising in connection with this transaction. The Consultant was afforded access to our management in connection with this transaction. The Consultant acquired these securities for service compensation and not with a view toward distribution, acknowledging such intent to us. The Consultant understood the ramifications of their actions. The shares of Class A common stock issued contained a legend restricting transferability absent registration or applicable exemption.
About UBI BLOCKCHAIN INTERNET, LTD. (OTCBB:UBIA)
UBI Blockchain Internet, LTD., formerly JA Energy, is a shell company. The Company is engaged in developing a suite of products with a view of finding global energy solutions. The Company was in the business of designing modular, self-contained, fully automated, climate controlled units for distributed production of energy. The Company manufactures micro-production solutions that may be implemented in a range of contexts, from ethanol micro-production facilities to urban greenhouse gardens to third-world farming communities. The Company has not generated any revenues. UBI BLOCKCHAIN INTERNET, LTD. (OTCBB:UBIA) Recent Trading Information
UBI BLOCKCHAIN INTERNET, LTD. (OTCBB:UBIA) closed its last trading session 00.00 at 3.61 with 1,105 shares trading hands.