On August 15, 2022, AIBEIDA Lifetech Limited. (“AIBEIDA”), a Hong Kong limited liability company, entered into an Investment Cooperation Agreement (the “Agreement”) with America Great Health. (the “Company”) pursuant to which the AIBEIDA agrees to assign 60% of its ownership equity in its wholly owned subsidiary CBD99, Inc., which is currently valued at USD $2,660,000. AIBEIDA will purchase two patents from third parties with total valuation of USD $540,000 and transfer the patent into CBD99, Inc., upon such transfer, the total valuation of CBD99, Inc. will be USD $3,200,000.
The Company will transfer worth of $4.8 million dollars of the Company’s outstanding shares (USD 0.1 per share) to AIBEIDA in exchange for the 60% ownership equity in CBD99, Inc. After such investment, the Company will become 60% shareholder of CBD99, Inc. A stock certificate represents the shares will be issued to AIBEIDA accordingly.
AIBEIDA has the agency rights of the raw material extraction processing and formulation technology and equipment of Hangzhou AIBEIDA Technology Co., Ltd., CBD99, Inc. is a wholly owned subsidiary of AIBEIDA incorporated in April 2018 in Oregon, USA., which has built a production and processing factory with a monthly capacity of 1,000 kg cannabidiol distillate and isolate.