UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of report: April 10, 2017 (March 13, 2017)

 

JADE GLOBAL HOLDINGS, INC.

(Exact name of small business issuer as specified in its charter)

 

Florida   000-54828   45-0966109
(State or other jurisdiction of
incorporation or organization)
  (Commission File Number)   (IRS Employer
Identification No.)

 

1825 Ponce de Leon Blvd, Suite 411

Coral Gables, FL 3314

(Address of principal executive offices)

 

786-323-7900

(Registrant’s telephone number)

 

Media Analytics Corporation

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

 

 

Item 1.01        Entry into a Definitive Material Agreement

 

On March 13, 2017, Jade Global Holdings, Inc. (the “Company”) entered into certain stock purchase agreement (the “SPA”) with eleven (11) non-U.S. investors (the “Non-U.S. Investors”), as defined under the Securities Act of 1933, as amended (the “Securities Act”) pursuant to Regulation S of the Securities Act. In accordance with the SPAS, the Company sold and the Non-U.S. Investors purchased an aggregate of 11,212,516 shares of Company’s common stock $0.0001 par value per share (the “Common Stock”) for an aggregate of $1,033,793.98, or at $0.0922 per share. Pursuant to the SPAs, the Non-U.S. Investors shall receive restricted shares that are subject to Rule 144 of the Securities Act. The SPAs contain customary representations and warranties by the Company and the purchasers.

 

On March 13, 2017, Jade Global Holdings, Inc. (the “Company”) entered into certain stock purchase agreement (the “EverAsia SPA”) with EverAsia Financial Group, Inc. pursuant to which the Company offered and sold 287,484 shares of Common Stock for $26,499.98, or at $0.0922 per share. Pursuant to the EverAsia SPA, EverAsia Financial Group, Inc. shall receive restricted shares that are subject to Rule 144 of the Securities Act. The SPAs contain customary representations and warranties by the Company and the purchasers.

 

The foregoing description of the terms of the SPA and EverAsia SPA do not purport to be complete and are qualified in their entirety by reference to the provisions of such agreements forms of which are filed as exhibits 10.1 and 10.2 to this Current Report on Form 8-K.

 

Item 3.02        Unregistered Sales of Equity Securities

 

As described in Item 1.01, on March 17, 2017, Company sold a total of 11,212,516 shares of Common Stock to eleven (11) non-U.S. investors, at a price of $0.0922 per share for an aggregate purchase price of $1,033,793.98. The transaction was not registered under the Securities Act and was in reliance on an exemption from registration set forth in Regulation S promulgated hereunder as a transaction by the Company not involving any public offering.

 

As described in Item 1.01, on March 17, 2017, Company sold 287,484 shares of Common Stock to EverAsia Financial Group, Inc., at a price of $0.0922 per share for an aggregate purchase price of $26,499.98. The transaction was not registered under the Securities Act and was in reliance on an exemption from registration set forth in Section 4(a)(2).

 

Item 5.03        Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

 

Reverse Stock Split

 

On March 13, 2017, the Company amended its Articles of Incorporation by filing a Certificate of Amendment with the State of Florida (the “Amendment”) to effect a reverse stock split of all issued and outstanding shares of common stock at a ratio of 1 for 20 (the "Reverse Stock Split"). As a result of the Reverse Stock Split, the Company’s issued and outstanding shares of common stock will decrease to approximately 500,032 shares, post-split, from approximately 10,000,629 shares, pre-split. No fractional shares will be issued as a result of the Reverse Stock Split. Fractional shares outstanding after the Reverse Stock Split will be rounded up. When effectuating the Reverse Stock Split, the authorized number of shares of Company’s common stock will remain the same: 25,000,000 shares. As a result, the proportion of shares owned by Company’s stockholders relative to the number of shares authorized for issuance will change. The effective date of the Reverse Stock Split is March 14, 2017. A copy of the Amendment is filed hereto as Exhibit 3.1 and is incorporated herein by reference. 

 

Name Change

 

The Company filed a Certificate of Amendment to our Articles of Incorporation with the State of Florida to change our name from “Media Analytics Corporation” to “Jade Global Holdings, Inc.” This name change became effective as of January 31, 2017. The name change, as well as the above-referenced stock split, were approved by the Financial Industry Regulatory Authority (“FINRA”) on March 6, 2017. A copy of the Amendment is filed hereto as Exhibit 3.2 and is incorporated herein by reference.

 

Item 5.06        Change in Shell Company Status

 

As a result of the consummation of the transactions described in Items 1.01 of this Current Report on Form 8-K, we believe that we are no longer a “shell company”, as that term is defined in Rule 405 under the Securities Act and Rule 12b-2 under the Exchange Act.

 

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Item 8.01        Other Events.

 

Symbol change

 

The Company filed for a symbol change with FINRA. As of April 3, 2017, the Company’s stock symbol is JADG.

 

Recent Development

 

Company is a development stage company and plans to bring the jade market to the masses in the United States. Since our name change from “Media Analytics Corporation” to “Jade Global Holdings, Inc”, Company’s management has been scouting for locations for its first showroom in the state of California and retail spaces in China. Company has engaged with certain marketing consultants in preparation of a product launch campaign. Management has been exploring business opportunities with designers for jewelry lines and working with potential technology service providers to formula the setup of an online jade trading platform.

 

Item 9.01        Financial Statements and Exhibits.

 

Exhibit
Number
  Description
3.1   Certificate of Amendment to Articles of Incorporation dated March 14, 2017
3.2   Certificate of Amendment to Articles of Incorporation dated January 31, 2017
10.1   Form of Stock Purchase Agreement between the Company and Non-U.S. Investors dated March 13, 2017
10.2   Stock Purchase Agreement between the Company and EverAsia Financial Group, Inc. dated March 13, 2017

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  JADE GLOBAL HOLDINGS, INC.
     
Date: April 10, 2017 By: /s/ Quoqiang Qian
   

Quoqiang Qian

    President, Chief Executive Officer
and Director (Principal Executive Officer)
     
  By: /s/ Scott J. Silverman
    Scott J. Silverman 
Treasurer, Chief Financial Officer 
and Director (Principal Financial Officer and Principal Accounting Officer)

 

 

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Exhibit 3.1

 

ARTICLES OF AMENDMENT

TO THE ARTICLES OF INCORPORATION OF

JADE GLOBAL HOLDINGS, INC.

 

In accordance with Sections 6071002 and 607.1006 of the Florida Business Corporations Act, the undersigned, Director, Vice President and Treasurer of Jade Global Holdings, Inc. (the “Corporation”) hereby certify:

 

FIRST: The Corporation’s common stock (the “Common Stock”) shall be reduced as reflected in the 20-for-1 stock split described below. All other attributes of the Common Stock shall remain.

 

“Upon the filing and effectiveness (the “Effective Time”) of these Articles of Amendment, each twenty (20) shares of Common Stock, par value $0.0001 per share, issued and outstanding immediately prior to the Effective Time (the “Old Common Stock”) (including the number of shares of common stock issuable upon exercise or conversion of all issued and outstanding, options, warrants and convertible securities of every kind), shall automatically and without any further action by the Corporation or the holder thereof be combined and reclassified into one validly issued, fully paid and non-assessable share of common stock, par value $0.0001 per share, (the “New Common Stock”) (the “Reverse Stock Split”). The Corporation will not issue fractional shares on account of the foregoing reverse stock split. The Corporation shall not recognize on its stock record books any purported transfer of any fractional share of New Common Stock. Fractional shares outstanding after the Reverse Stock Split will be rounded up. Each stock certificate that, immediately prior to the Effective Time, represented shares of Old Common Stock shall, from and after the Effective Time, automatically and without the necessity of presenting the same for exchange, represent that number of whole shares of New Common Stock into which the shares of Old Common Stock represented by such certificate shall have been reclassified, provided, however, that each holder of record of a certificate that represented shares of Old Common Stock shall receive, upon surrender of such certificate, a new certificate representing the number of whole shares of New Common Stock into which the shares of Old Common Stock represented by such certificate shall have been reclassified. The Reverse Stock Split shall not affect the number of authorized shares of Common Stock. The number of authorized shares of Common Stock shall remain 25,000,000.”

 

SECOND: The foregoing Articles of Amendment to the Articles of Incorporation were adopted pursuant to Section 607.0821 by the board of directors of the Corporation by written consent dated December 27, 2016.

 

THIRD: The amendment to the Articles of Incorporation does not adversely affect the rights or the preferences of the holders of outstanding shares of any class or series.

 

FOURTH: As a result of the Reverse Stock Split, on the Effective Date, the 10,000,629 issued and outstanding common shares of the Corporation were automatically combined into 500,032 issued and outstanding common shares of the Corporation.

 

FIFTH: These Articles of Amendment to the Articles of Incorporation shall be effective upon filing with the Florida Secretary of State.

  

 

 

 

IN WITNESS WHEREOF. the Corporation has caused these Articles of Amendment to the Articles of Incorporation to be executed by its duly authorized officer.

 

Date: March 10, 2017

 

JADE GLOBAL HOLDINGS, INC.

 

/s/ Scott J. Silverman  
Scott J. Silverman  
Director, Vice President and Treasurer  

 

 

 

 

 

Exhibit 3.2

 

ARTICLES OF AMENDMENT

TO THE ARTICLES OF INCORPORATION OF
MEDIA ANALYTICS CORPORATION

 

In accordance with Sections 607.1003 and 607.1006 of the Florida Business Corporations Act, the undersigned, Director, Vice President and Treasurer of Media Analytics Corporation (the “Corporation”) hereby certifies:

 

FIRST: That Article I of the Corporation’s Articles of Incorporation is hereby deleted in its entirety and amended as follows:

 

“The name of this Corporation shall be: Jade Global Holdings, Inc.”

 

SECOND: That Article IV of the Corporation’s Articles of Incorporation, is hereby deleted in its entirety and amended as follows:

 

“The maximum number of shares that this Corporation shall be authorized to issue and have outstanding at any one time shall be TWENTY-FIVE MILLION (25,000,000) shares of Common Stock, par value $0.0001 per share and TEN MILLION (10,000,000) shares of Preferred Stock, par value $0.0001 per share.”

 

THIRD: The foregoing Articles of Amendment to the Articles of Incorporation were adopted pursuant to Section 607.0821 by the board of the Directors of the Corporation by written consent dated December 21, 2016.

 

FOURTH: That in lieu of a meeting, holders of shares of stock representing a majority of the issued and outstanding shares of the Common Stock of the Corporation have given written consent dated December 21, 2016 to such amendment in accordance with the provisions of Section 607.0704. Therefore, the number of votes cast was sufficient for approval.

 

FIFTH: These Articles of Amendment to the Articles of Incorporation shall be effective upon filing with the Florida Secretary of State.

 

IN WITNESS WHEREOF, the Corporation has caused these Articles of Amendment to the Articles of Incorporation to be executed by its duly authorized officer.

 

Date: January 30, 2017

 

MEDIA ANALYTICS CORPORATION

 

/s/ Scott J. Silverman  
Scott J. Silverman  
Director, Vice President and Treasurer  

 

Exhibit 10.1

 

STOCK PURCHASE AGREEMENT

 

THIS STOCK PURCHASE AGREEMENT (this "Agreement") is made effective on _________________ by and between Jade Global Holdings, Inc., a Florida corporation, (the "Company") and ______________ (the “Purchaser”).

 

RECITALS

 

WHEREAS, the Purchaser desires to purchase certain shares of the Company's Common Stock on the terms and conditions set forth herein; and

 

WHEREAS, the Company desires to issue and sell shares of the Common Stock to the Purchaser on the terms and conditions set forth herein.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises hereinafter set forth, and, other good and valuable consideration, the parties hereto agree as follows:

 

1.         Authorization, Sale and Issuance of Shares and Options

 

1.1        Authorization On the Closing (as defined in Section 2.1 below), the Company shall authorize the issuance and shall issue ___________________ shares of Common Stock (the “Shares”) par value $0.001 per share to the Purchaser at a purchase price of Nine and Twenty Two One Hundredths of a Cent ($0.0922) per Share for an aggregate value of $________________ (the "Purchase Price").

 

1.2       Sale and Issuance of the Shares Subject to the terms and conditions hereof the Company shall sell and Purchaser shall purchase the Shares at the Closing, as defined below.

 

2.         Closing

 

2.1        Closing : The closing of the purchase and sale of the Shares (the "Closing") shall be held at the offices of the Purchaser on or before 5:00 P.M. EST on March 31, 2017 or at such other time and place as the Company and the Purchaser may agree in writing (the "Closing").

 

2.2        Payment : At the Closing, the Purchaser will deliver to the Company a wire or certified check in the amount of $_____________

 

2.3        Delivery : Subject to the terms of this Agreement, within five (5) days of the Closing the Company will deliver to the Purchaser the certificates representing the Shares to be purchased by the Purchaser from the Company.

 

   

 

 

3.         Representations and Warranties of the Company The Company hereby represents and warrants to the Purchaser as of the Closing date as follows:

 

3.1        Organization and Standing: Articles and Bylaws The Company is and will be a corporation duly organized, validly existing, and in good standing under the laws of the State of Florida and will have all requisite corporate power and authority to carry on its business as proposed to be conducted.

 

3.2        Corporate Power The Company will have at the Closing, all requisite corporate power to enter into this Agreement and to sell and issue the Shares. This Agreement shall constitute a valid and binding obligation of the Company enforceable in accordance with its respective terms, except as the same may be limited by bankruptcy, insolvency, moratorium, and other laws of general application affecting the enforcement of creditors' rights.

 

3.3        Capitalization The authorized capital stock of the Company is 25,000,000 shares of Common Stock, par value $0.0001 per share, of which, 500,032 are issued and outstanding. All such issued and outstanding shares have been duly authorized and validly issued, are fully paid and non-assessable.

 

3.4         Authorization

 

(a)        Corporate Action All corporate action on the part of the Company necessary for the authorization, execution and delivery of this Agreement, the sale and issuance of the Shares and the performance of the Company's obligations hereunder will be taken prior to the Closing. This Agreement constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms.

 

(b)        Valid Issuance The Shares, when issued in compliance with the provisions of this Agreement will be duly authorized, validly issued, fully paid and non-assessable, and will be free of any liens or encumbrances caused or created by the Company; provided, however, that all such shares may be subject to restrictions on transfer under state and federal securities laws as set forth herein, and as may be required by future changes in such laws.

 

(c)        No Preemptive Rights Except as provided herein, no person currently has or will have any right of first refusal or any preemptive rights in connection with the issuance of the Shares, or any future issuance of securities by the Company.

 

3.5        Compliance with Other Instruments The Company will not be in violation of any term of the Company's Articles or Bylaws, nor will the Company be in violation of or in default in any material respect under the terms of any mortgage, indenture, contract, agreement, instrument, judgment, or decree, the violation of which would have a material adverse effect on the Company as a whole, and to the knowledge of the Company, is not in violation of any order, statute, rule, or regulation applicable to the Company, the violation of which would have a material adverse effect on the Company. The execution, delivery and performance of and compliance with this Agreement and the issuance and sale of the Shares will not (a) result in any such violation, or (b) be in conflict with or constitute a default under any such term, or (c) result in the creation of any mortgage, pledge, lien, encumbrance, or charge upon any of the properties or assets of the Company pursuant to any such term.

 

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4.         Representations and Warranties of Purchaser and Restrictions on Transfer Imposed by the Securities Act .

 

4.1        Representations and Warranties by the Purchaser The Purchaser represents and warrants to the Company as follows:

 

(a)        Investment Intent This Agreement is made with the Purchaser in reliance upon the Purchaser's representations to the Company, evidenced by the Purchaser's execution of this Agreement, that the Purchaser is acquiring the Shares for investment for the Purchaser's own account, not as nominee or agent, and not with a view to or for resale in connection with, any distribution or public offering thereof within the meaning of the Securities Act and applicable law. The Purchaser has the full right, power, and authority to enter into and perform this Agreement.

 

(b)        Shares Not Registered The Purchaser understands and acknowledges that the offering of the Shares pursuant to this Agreement will not be registered under the Securities Act on the grounds that the offering and sale of securities contemplated by this Agreement are exempt from registration under the Securities Act pursuant to Section 4(2) thereof and exempt from registration pursuant to applicable state securities or blue sky laws, and that the Company's reliance upon such exemptions is predicated upon such Purchaser's representations set forth in this Agreement. The Purchaser acknowledges and understands that the Shares must be held indefinitely unless the Shares are subsequently registered under the Securities Act and qualified under state law or unless an exemption from such registration and such qualification is available.

 

(c)        No Transfer Except as set forth in Section 4.4 hereunder, the Purchaser covenants that in no event will the Purchaser dispose of any of the Shares (other than in conjunction with an effective registration statement for the Shares under the Securities Act in compliance with Rule 144 promulgated under the Securities Act) unless and until (i) the Purchaser shall have notified the Company of the proposed disposition and shall have furnished the Company with a statement of the circumstances surrounding the proposed disposition, and (ii) if reasonably requested by the Company, the Purchaser shall have furnished the Company with an opinion of counsel satisfactory in form and substance to the Company to the effect that (x) such disposition will not require registration under the Securities Act, and (y) appropriate action necessary for compliance with the Securities Act and any other applicable state, local, or foreign law has been taken, and (iii) the Company has consented, which consent shall not be unreasonably withheld.

 

(d)        Knowledge and Experience The Purchaser (i) has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of the Purchaser's prospective investment in the Shares; (ii) has the ability to bear the economic risks of the Purchaser's prospective investment; (iii) has been furnished with and had access to such information as the Purchaser has considered necessary to make a determination as to the purchase of the Shares together with such additional information as is necessary to verify the accuracy of the information supplied; (iv) has had all questions which have been asked by the Purchaser satisfactorily answered by the Company; and (v) has not been offered the Shares by any form of advertisement, article, notice, or other communication published in any newspaper, magazine, or similar medium; or broadcast over television or radio; or any seminar or meeting whose attendees have been invited by any such medium.

 

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(e)        Not organized to Purchase . The Purchaser has not been organized for the purpose of purchasing the Shares.

 

4.2         Legends . Each certificate representing the Shares shall be endorsed with the following legends:

 

(a)        Federal Legend . The securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (the "Act") and are "restricted securities" as defined in rule 144 promulgated under the Act. The securities may not be sold or offered for sale or otherwise distributed except (i) in conjunction with an effective registration statement for the shares under the Act, or (ii) pursuant to an opinion of counsel, satisfactory to the company, that such registration or compliance is not required as to said sale, offer, or distribution.

 

(b)       Other Legends. With respect to any other legends required by applicable law, the Company need not register a transfer of legended Shares, and may also instruct its transfer agent not to register the transfer of the Shares, unless the conditions specified in such legend is satisfied.

 

4.3         Rule 144 . The Purchaser is aware of the adoption of Rule 144 by the SEC promulgated under the Securities Act, which permits limited public resale of securities acquired in a nonpublic offering, subject to the satisfaction of certain conditions. The Purchaser understands that under Rule 144, the conditions include, among other things: the availability of certain, current public information about the issuer and the resale occurring not less than six months after the party has purchased and paid for the securities to be sold.

 

5.         Conditions to Closing

 

5.1        Conditions to the Purchaser's Obligations The obligations of the Purchaser to purchase the Shares at the Closing are subject to the fulfillment to its satisfaction, on or prior to the Closing, of the following conditions, any of which may be waived in accordance with the provisions of subsection 8.1 hereof:

 

(a)        Representations and Warranties Correct: Performance of Obligations The representations and warranties made by the Company in Section 3 hereof shall be true and correct when made and at the Closing. The Company's business and assets shall not have been adversely affected in any material way prior to the Closing. The Company shall have performed in all material respects all obligations and conditions herein required to be performed or observed by it on or prior to the Closing.

 

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(b)        Consents and Waivers The Company shall have obtained in a timely fashion any and all consents, permits, and waivers necessary or appropriate for consummation of the transactions contemplated by this Agreement.

 

5.2        Conditions to Obligations of the Company The Company's obligation to sell the Shares at the Closing is subject to the condition that the representations and warranties made by the Purchaser in Section 4 hereof shall be true and correct when made, and on the Closing.

 

6.         Affirmative Covenants of the Company The Company hereby covenants and agrees as follows:

 

6.1        Financial Information The Company will furnish holders of the Shares with annual audited financial statements together with such notes and commentary by management as is usual and customary.

 

6.2        Conflicts of Interests The Company shall use its best efforts to ensure that the Company's employees, during the term of their employment with the Company, do not engage in activities that would result in a conflict of interest with the Company. The Company's obligations hereunder include, but are not limited to, requiring that the Company's employees devote their primary productive time, ability, and attention, to the business of the Company (provided, however, the Company's employees may engage in other business activity if such activity does not materially interfere with their obligations to the Company), requiring that the Company's employees enter into agreements regarding proprietary information and confidentiality and preventing the Company's employees from engaging or participating in any business that is in competition with the business of the Company.

 

7.         Registration Rights

 

The Purchaser is not entitled to any registration rights under this Agreement or associated with the purchase of the Shares. The purchase shall be subject to such private restrictions on the transfer of the Shares as are designated from time to time by the Company or its investment bankers or underwriters.

 

8.         Risk Factors

 

The securities offered hereby are speculative in nature and involve a high degree of risk. They should be purchased only by persons who can afford to lose their entire investment in the company, therefore, each prospective investor should, prior to purchase, consider very carefully the following risk factors:

 

8.1        Arbitrary Determination of Stock Price The price of the Shares has been determined arbitrarily by the Company. The price should not be regarded as an indication of any future market price of the Company's stock and has no relation to the value of the Company's stock.

 

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8.2        Dependence on Key Personnel The success of the Company is dependent on the efforts and abilities of its current principal officer and director Bruce Trulio. If the Company were to lose the services of such officers, its business could be materially and adversely affected.

 

8.3        Audited Financial Statements The Company has prepared or caused to be prepared current financial statements. The balance sheet and income statement included therein have been prepared in accordance with generally accepted accounting principles.

 

8.4        Discretion in Application of Proceeds In order to accommodate changing circumstances, the Company's management may allocate the proceeds of this financing in accordance with its needs and operation. Subject to the supervision of the Board of Directors, the Company's management will be given discretion in the application of the proceeds.

 

8.5        Restrictions on Transfer The Shares may not be resold unless such sale is registered or qualifies for an exemption from registration under the Act and all applicable state securities laws. The Shares should be considered a suitable investment only for investors whose financial position is such that they will be able to hold the Shares for an indefinite period. Some state laws may impose additional restrictions on transfer of the Shares.

 

For all of the reasons stated in the risk factors and others, including, without limitation, those set forth herein, these shares involve a high degree of risk. Any person considering an investment in the securities offered should be aware of these factors. These securities should only be purchased by persons who can afford a total loss of their investment in the company and have no immediate need for a return of or on their investment.

 

9.         Miscellaneous

 

9.1        Governing Law This Agreement shall be governed in all respects by the laws of the State of Florida as such laws are applied to agreements between residents entered into and to be performed entirely within Florida.

 

9.2        Survival The representations, warranties, covenants and agreements made herein shall survive the Closing of the transactions contemplated hereby, notwithstanding any investigation made by the Purchaser. All statements as to factual matters contained in any certificate or other instrument delivered by or on behalf of the Company pursuant hereto or in connection with the transactions contemplated hereby shall be deemed to be representations and warranties by the Company hereunder as of the date of such certificate or instrument.

 

9.3        Successors and Assigns Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors, and administrators of the parties hereto.

 

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9.4        Entire Agreement This Agreement and the other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof and they supersede, merge, and render void every other prior written and/or oral understanding or agreement among or between the parties hereto.

 

9.5        Notices, etc All notices and other communications required or permitted hereunder shall be in writing and shall be delivered personally, mailed by first class mail, postage prepaid, or delivered by courier or overnight delivery, addressed (a) if to a Purchaser, at such Purchaser's address set forth on the Schedule of Purchaser, or at such other address as such Purchaser shall have furnished to the Company in writing, or (b) if to the Company, at its address set forth at the beginning of this Agreement, or at such other address as the Company shall have furnished to the Purchaser in writing. Notices that are mailed shall be deemed received five (5) days after deposit in the United States mail. Notices sent by courier or overnight delivery shall be deemed received two (2) days after they have been so sent.

 

9.6        Severability In case any provision of this Agreement shall be found by a court of law to be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired thereby.

 

9.7        Finder's Fees and Other Fees

 

(a)       The Company (i) represents and warrants that it has retained no finder or broker in connection with the transactions contemplated by this Agreement, and (ii) hereby agrees to indemnify and to hold Purchaser harmless from and against any liability for commission or compensation in the nature of a finder's fee to any broker or other person or firm (and the costs and expenses of defending against such liability or asserted liability) for which the Company, or any of its employees or representatives, is responsible.

 

(b)       The Purchaser (i) represents and warrants that the Purchaser has retained no finder or broker in connection with the transactions contemplated by this Agreement, and (ii) hereby agrees to indemnify and to hold the Company harmless from and against any liability for any commission or compensation in the nature of a finder's fee to any broker or other person or firm (and the costs and expenses of defending against such liability or asserted liability) for which such Purchaser is responsible.

 

9.8        Expenses The Company and the Purchaser shall each bear their own expenses and legal fees in connection with the consummation of this transaction.

 

9.9        Titles and Subtitles The titles of the sections and subsections of this Agreement are for convenience of reference and are not to be considered in construing this Agreement.

 

9.10      Counterparts This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument.

  

9.11      Delays or Omissions No delay or omission to exercise any right, power, or remedy accruing to the Company or to any holder of any securities issued or to be issued hereunder shall impair any such right, power, or remedy of the Company or such holder, nor shall it be construed to be a waiver of any breach or default under this Agreement, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any failure to exercise any right, power, or remedy or any waiver of any single breach or a waiver of any other right, power, or remedy or breach or default theretofore or thereafter occurring. All remedies, either under this Agreement, or by law or otherwise afforded to the Company or any holder, shall be cumulative and not alternative.

 

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement this March 13, 2017 .

 

COMPANY:   PURCHASER:
         
Jade Global Holdings, Inc.    
         
                    
By: Guoqiang Qian   By:
Title: President/CEO      
     
      Address:  
         
     
    City, State/Province
         
     
      Country  

 

 

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Exhibit 10.2

 

STOCK PURCHASE AGREEMENT

 

THIS STOCK PURCHASE AGREEMENT (this “Agreement”) is made effective on March 13, 2017 by and between Jade Global Holdings, Inc., a Florida corporation, (the “Company”) and EverAsia Financial Group, Inc. (the “Purchaser”).

 

RECITALS

 

WHEREAS, the Purchaser desires to purchase certain shares of the Company’s Common Stock on the terms and conditions set forth herein; and

 

WHEREAS, the Company desires to issue and sell shares of the Common Stock to the Purchaser on the terms and conditions set forth herein.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises hereinafter set forth, and, other good and valuable consideration, the parties hereto agree as follows:

 

1.        Authorization, Sale and Issuance of Shares and Options

 

1.1        Authorization On the Closing (as defined in Section 2.1 below), the Company shall authorize the issuance and shall issue Two Hundred Eighty Seven Thousand Four Hundred Eighty Four ( 287,484) shares of Common Stock (the “Shares”) par value $0.001 per share to the Purchaser at a purchase price of Nine and Twenty Two One Hundredths of a Cent ($0.0922) per Share for an aggregate value of $26,499.98 (the “Purchase Price”).

 

1.2        Sale and Issuance of the Shares Subject to the terms and conditions hereof the Company shall sell and Purchaser shall purchase the Shares at the Closing, as defined below.

 

2.        Closing

 

2.1       Closing: The closing of the purchase and sale of the Shares (the “Closing”) shall be held at the offices of the Purchaser on or before 5:00 P.M. EST on March 31, 2017 or at such other time and place as the Company and the Purchaser may agree in writing (the “Closing”).

 

2.2       Payment: At the Closing, the Purchaser will deliver to the Company a wire or certified check in the amount of $26,499.98

 

2.3       Delivery: Subject to the terms of this Agreement, within five (5) days of the Closing the Company will deliver to the Purchaser the certificates representing the Shares to be purchased by the Purchaser from the Company.

 

 

 

 

3.        Representations and Warranties of the Company The Company hereby represents and warrants to the Purchaser as of the Closing date as follows:

 

3.1       Organization and Standing: Articles and Bylaws The Company is and will be a corporation duly organized, validly existing, and in good standing under the laws of the State of Florida and will have all requisite corporate power and authority to carry on its business as proposed to be conducted.

 

3.2       Corporate Power The Company will have at the Closing, all requisite corporate power to enter into this Agreement and to sell and issue the Shares. This Agreement shall constitute a valid and binding obligation of the Company enforceable in accordance with its respective terms, except as the same may be limited by bankruptcy, insolvency, moratorium, and other laws of general application affecting the enforcement of creditors’ rights.

 

3.3       Capitalization The authorized capital stock of the Company is 25,000,000 shares of Common Stock, par value $0.0001 per share, of which, 500,032 are issued and outstanding. All such issued and outstanding shares have been duly authorized and validly issued, are fully paid and non-assessable.

 

3.4        Authorization

 

(a)        Corporate Action All corporate action on the part of the Company necessary for the authorization, execution and delivery of this Agreement, the sale and issuance of the Shares and the performance of the Company’s obligations hereunder will be taken prior to the Closing. This Agreement constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms.

 

(b)        Valid Issuance The Shares, when issued in compliance with the provisions of this Agreement will be duly authorized, validly issued, fully paid and non-assessable, and will be free of any liens or encumbrances caused or created by the Company; provided, however, that all such shares may be subject to restrictions on transfer under state and federal securities laws as set forth herein, and as may be required by future changes in such laws.

 

(c)        No Preemptive Rights Except as provided herein, no person currently has or will have any right of first refusal or any preemptive rights in connection with the issuance of the Shares, or any future issuance of securities by the Company.

 

3.5        Compliance with Other Instruments The Company will not be in violation of any term of the Company’s Articles or Bylaws, nor will the Company be in violation of or in default in any material respect under the terms of any mortgage, indenture, contract, agreement, instrument, judgment, or decree, the violation of which would have a material adverse effect on the Company as a whole, and to the knowledge of the Company, is not in violation of any order, statute, rule, or regulation applicable to the Company, the violation of which would have a material adverse effect on the Company. The execution, delivery and performance of and compliance with this Agreement and the issuance and sale of the Shares will not (a) result in any such violation, or (b) be in conflict with or constitute a default under any such term, or (c) result in the creation of any mortgage, pledge, lien, encumbrance, or charge upon any of the properties or assets of the Company pursuant to any such term.

 

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3.6       Exemption from Registration under Section 4(a)(2) of the Securities Act of 1933: The issuance of shares of common stock by the Company pursuant to this Agreement is exempt from registration under section 4(a)(2) of the Securities Act of 1933, as amended.

 

4.        Representations and Warranties of Purchaser and Restrictions on Transfer Imposed by the Securities Act .

 

4.1        Representations and Warranties by the Purchaser The Purchaser represents and warrants to the Company as follows:

 

(a)        Investment Intent This Agreement is made with the Purchaser in reliance upon the Purchaser’s representations to the Company, evidenced by the Purchaser’s execution of this Agreement, that the Purchaser is acquiring the Shares for investment for the Purchaser’s own account, not as nominee or agent, and not with a view to or for resale in connection with, any distribution or public offering thereof within the meaning of the Securities Act and applicable law. The Purchaser has the full right, power, and authority to enter into and perform this Agreement.

 

(b)        Shares Not Registered The Purchaser understands and acknowledges that the offering of the Shares pursuant to this Agreement will not be registered under the Securities Act on the grounds that the offering and sale of securities contemplated by this Agreement are exempt from registration under the Securities Act pursuant to Section 4(2) thereof and exempt from registration pursuant to applicable state securities or blue sky laws, and that the Company’s reliance upon such exemptions is predicated upon such Purchaser’s representations set forth in this Agreement. The Purchaser acknowledges and understands that the Shares must be held indefinitely unless the Shares are subsequently registered under the Securities Act and qualified under state law or unless an exemption from such registration and such qualification is available.

 

(c)        No Transfer Except as set forth in Section 4.4 hereunder, the Purchaser covenants that in no event will the Purchaser dispose of any of the Shares (other than in conjunction with an effective registration statement for the Shares under the Securities Act in compliance with Rule 144 promulgated under the Securities Act) unless and until (i) the Purchaser shall have notified the Company of the proposed disposition and shall have furnished the Company with a statement of the circumstances surrounding the proposed disposition, and (ii) if reasonably requested by the Company, the Purchaser shall have furnished the Company with an opinion of counsel satisfactory in form and substance to the Company to the effect that (x) such disposition will not require registration under the Securities Act, and (y) appropriate action necessary for compliance with the Securities Act and any other applicable state, local, or foreign law has been taken, and (iii) the Company has consented, which consent shall not be unreasonably withheld.

 

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(d)        Knowledge and Experience The Purchaser (i) has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of the Purchaser’s prospective investment in the Shares; (ii) has the ability to bear the economic risks of the Purchaser’s prospective investment; (iii) has been furnished with and had access to such information as the Purchaser has considered necessary to make a determination as to the purchase of the Shares together with such additional information as is necessary to verify the accuracy of the information supplied; (iv) has had all questions which have been asked by the Purchaser satisfactorily answered by the Company; and (v) has not been offered the Shares by any form of advertisement, article, notice, or other communication published in any newspaper, magazine, or similar medium; or broadcast over television or radio; or any seminar or meeting whose attendees have been invited by any such medium.

 

(e)        Not organized to Purchase . The Purchaser has not been organized for the purpose of purchasing the Shares.

 

4.2        Legends Each certificate representing the Shares shall be endorsed with the following legends:

 

(a)        Federal Legend . The securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (the “Act”) and are “restricted securities” as defined in rule 144 promulgated under the Act. The securities may not be sold or offered for sale or otherwise distributed except (i) in conjunction with an effective registration statement for the shares under the Act, or (ii) pursuant to an opinion of counsel, satisfactory to the company, that such registration or compliance is not required as to said sale, offer, or distribution.

 

(b)        Other Legends . With respect to any other legends required by applicable law, the Company need not register a transfer of legended Shares, and may also instruct its transfer agent not to register the transfer of the Shares, unless the conditions specified in such legend is satisfied.

 

4.3        Rule 144 . The Purchaser is aware of the adoption of Rule 144 by the SEC promulgated under the Securities Act, which permits limited public resale of securities acquired in a nonpublic offering, subject to the satisfaction of certain conditions. The Purchaser understands that under Rule 144, the conditions include, among other things: the availability of certain, current public information about the issuer and the resale occurring not less than six months after the party has purchased and paid for the securities to be sold.

 

5.        Conditions to Closing

 

5.1        Conditions to the Purchaser’s Obligations The obligations of the Purchaser to purchase the Shares at the Closing are subject to the fulfillment to its satisfaction, on or prior to the Closing, of the following conditions, any of which may be waived in accordance with the provisions of subsection 8.1 hereof:

 

(a)        Representations and Warranties Correct: Performance of Obligations The representations and warranties made by the Company in Section 3 hereof shall be true and correct when made and at the Closing. The Company’s business and assets shall not have been adversely affected in any material way prior to the Closing. The Company shall have performed in all material respects all obligations and conditions herein required to be performed or observed by it on or prior to the Closing.

 

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(b)        Consents and Waivers The Company shall have obtained in a timely fashion any and all consents, permits, and waivers necessary or appropriate for consummation of the transactions contemplated by this Agreement.

 

5.2        Conditions to Obligations of the Company The Company’s obligation to sell the Shares at the Closing is subject to the condition that the representations and warranties made by the Purchaser in Section 4 hereof shall be true and correct when made, and on the Closing.

 

6.        Affirmative Covenants of the Company The Company hereby covenants and agrees as follows:

 

6.1        Financial Information The Company will furnish holders of the Shares with annual audited financial statements together with such notes and commentary by management as is usual and customary.

 

6.2        Conflicts of Interests The Company shall use its best efforts to ensure that the Company’s employees, during the term of their employment with the Company, do not engage in activities that would result in a conflict of interest with the Company. The Company’s obligations hereunder include, but are not limited to, requiring that the Company’s employees devote their primary productive time, ability, and attention, to the business of the Company (provided, however, the Company’s employees may engage in other business activity if such activity does not materially interfere with their obligations to the Company), requiring that the Company’s employees enter into agreements regarding proprietary information and confidentiality and preventing the Company’s employees from engaging or participating in any business that is in competition with the business of the Company.

 

7.        Registration Rights

 

The Purchaser is not entitled to any registration rights under this Agreement or associated with the purchase of the Shares. The purchase shall be subject to such private restrictions on the transfer of the Shares as are designated from time to time by the Company or its investment bankers or underwriters.

 

8.        Risk Factors

 

The securities offered hereby are speculative in nature and involve a high degree of risk. They should be purchased only by persons who can afford to lose their entire investment in the company, therefore, each prospective investor should, prior to purchase, consider very carefully the following risk factors:

 

8.1        Arbitrary Determination of Stock Price The price of the Shares has been determined arbitrarily by the Company. The price should not be regarded as an indication of any future market price of the Company’s stock and has no relation to the value of the Company’s stock.

 

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8.2        Dependence on Key Personnel The success of the Company is dependent on the efforts and abilities of its current principal officer and director Bruce Trulio. If the Company were to lose the services of such officers, its business could be materially and adversely affected.

 

8.3        Audited Financial Statements The Company has prepared or caused to be prepared current financial statements. The balance sheet and income statement included therein have been prepared in accordance with generally accepted accounting principles.

 

8.4        Discretion in Application of Proceeds In order to accommodate changing circumstances, the Company’s management may allocate the proceeds of this financing in accordance with its needs and operation. Subject to the supervision of the Board of Directors, the Company’s management will be given discretion in the application of the proceeds.

 

8.5        Restrictions on Transfer The Shares may not be resold unless such sale is registered or qualifies for an exemption from registration under the Act and all applicable state securities laws. The Shares should be considered a suitable investment only for investors whose financial position is such that they will be able to hold the Shares for an indefinite period. Some state laws may impose additional restrictions on transfer of the Shares.

 

For all of the reasons stated in the risk factors and others, including, without limitation, those set forth herein, these shares involve a high degree of risk. Any person considering an investment in the securities offered should be aware of these factors. These securities should only be purchased by persons who can afford a total loss of their investment in the company and have no immediate need for a return of or on their investment.

 

9.        Miscellaneous

 

9.1        Governing Law This Agreement shall be governed in all respects by the laws of the State of Florida as such laws are applied to agreements between residents entered into and to be performed entirely within Florida.

 

9.2        Survival The representations, warranties, covenants and agreements made herein shall survive the Closing of the transactions contemplated hereby, notwithstanding any investigation made by the Purchaser. All statements as to factual matters contained in any certificate or other instrument delivered by or on behalf of the Company pursuant hereto or in connection with the transactions contemplated hereby shall be deemed to be representations and warranties by the Company hereunder as of the date of such certificate or instrument.

 

9.3        Successors and Assigns Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors, and administrators of the parties hereto.

 

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9.4        Entire Agreement This Agreement and the other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof and they supersede, merge, and render void every other prior written and/or oral understanding or agreement among or between the parties hereto.

 

9.5        Notices, etc All notices and other communications required or permitted hereunder shall be in writing and shall be delivered personally, mailed by first class mail, postage prepaid, or delivered by courier or overnight delivery, addressed (a) if to a Purchaser, at such Purchaser’s address set forth on the Schedule of Purchaser, or at such other address as such Purchaser shall have furnished to the Company in writing, or (b) if to the Company, at its address set forth at the beginning of this Agreement, or at such other address as the Company shall have furnished to the Purchaser in writing. Notices that are mailed shall be deemed received five (5) days after deposit in the United States mail. Notices sent by courier or overnight delivery shall be deemed received two (2) days after they have been so sent.

 

9.6        Severability In case any provision of this Agreement shall be found by a court of law to be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired thereby.

 

9.7        Finder’s Fees and Other Fees

 

(a)       The Company (i) represents and warrants that it has retained no finder or broker in connection with the transactions contemplated by this Agreement, and (ii) hereby agrees to indemnify and to hold Purchaser harmless from and against any liability for commission or compensation in the nature of a finder’s fee to any broker or other person or firm (and the costs and expenses of defending against such liability or asserted liability) for which the Company, or any of its employees or representatives, is responsible.

 

(b)       The Purchaser (i) represents and warrants that the Purchaser has retained no finder or broker in connection with the transactions contemplated by this Agreement, and (ii) hereby agrees to indemnify and to hold the Company harmless from and against any liability for any commission or compensation in the nature of a finder’s fee to any broker or other person or firm (and the costs and expenses of defending against such liability or asserted liability) for which such Purchaser is responsible.

 

9.8        Expenses The Company and the Purchaser shall each bear their own expenses and legal fees in connection with the consummation of this transaction.

 

9.9        Titles and Subtitles The titles of the sections and subsections of this Agreement are for convenience of reference and are not to be considered in construing this Agreement.

 

9-10      Counterparts This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument.

 

9.11      Delays or Omissions No delay or omission to exercise any right, power, or remedy accruing to the Company or to any holder of any securities issued or to be issued hereunder shall impair any such right, power, or remedy of the Company or such holder, nor shall it be construed to be a waiver of any breach or default under this Agreement, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any failure to exercise any right, power, or remedy or any waiver of any single breach or a waiver of any other right, power, or remedy or breach or default theretofore or thereafter occurring. All remedies, either under this Agreement, or by law or otherwise afforded to the Company or any holder, shall be cumulative and not alternative.

 

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement this March 13, 2017.

 

COMPANY:   PURCHASER:
         
Jade Global Holdings, Inc.   EverAsia Financial Group, Inc.
     
        /s/ Scott J, Silverman
By: Guoqiang Qian   By: Scott J, Silverman, President
Title: President/CEO      
         
      1825 Ponce de Leon Blvd, Ste 411
      Address:
         
      Coral Gables, FL 33134
      City, State/Province
       
      USA
      Country

 

 

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