GD Culture Group sells inactive Hong Kong subsidiary for $100,000

GD Culture Group Ltd

Sold all equity interest in TMSR Holdings and its wholly-owned subsidiaries for $100,000 to buyer Hao Li.
TMSR, Makesi Iot Technology, and Shanghai Yuanma have no assets, employees, or operations.
Sale will have no impact on consolidated financial statements; the subsidiary was dormant.
Company separately notes plan to develop video games through newly formed AI Catalysis Corp.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

GD Culture Group Ltd entered into Agreement with a buyer unaffiliated with the Company (the "Buyer") valued at $100,000 (effective 2023-06-26).

Action: entry
Agreement: asset purchase
Counterparty: a buyer unaffiliated with the Company (the "Buyer")
Value: $100,000
Effective: 2023-06-26

Exact text from the filing

On June 26, 2023, GD Culture Group Limited (the "Company") entered into a share purchase agreement (the "Agreement") with a buyer unaffiliated with the Company (the "Buyer").

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38 material agreements filed in the last 30 days. Browse all material agreements →

GD Culture Group Ltd filing history →

Source: SEC EDGAR

accession 0001213900-23-052472

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