---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-042507"
form_type: "8-K"
ticker: "XWIN"
cik: "0001473334"
company_name: "XMax Inc."
filed_at: "2023-11-22T23:59:59+00:00"
generated_at: "2026-06-07T22:09:07.215748+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Nova LifeStyle acquires AI IT system for $675K; pays with 270K shares

## Summary
- Nova Malaysia subsidiary to purchase AI-powered IT system from Web 3.0 Sdn Bhd for $675,000.
- Purchase price satisfied by issuing 270,000 shares of NVFY common stock at $2.50 per share.
- Shares issued under Regulation S; restricted from resale into US for one year.
- IT system covers design, customer services, sales, marketing, and inventory management.

## SEC filing metadata
- accession: 0001493152-23-042507
- form_type: 8-K
- ticker: XWIN
- cik: 0001473334
- company_name: XMax Inc.
- filed_at: 2023-11-22T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1473334/000149315223042507/0001493152-23-042507-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1473334/000149315223042507/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-042507
- JSON: https://secwatch.observer/filing/0001493152-23-042507.json
- Plain text: https://secwatch.observer/filing/0001493152-23-042507.txt

## Key facts
- Material Agreements
  XMax Inc. entered into Sale and Purchase Agreement with WEB 3.0 Sdn Bhd valued at $675,000 purchase price paid in 270,000 shares of common stock at $2.5 per share (effective 2023-11-16).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: WEB 3.0 Sdn Bhd
  - Value: $675,000 purchase price paid in 270,000 shares of common stock at $2.5 per share
  - Effective: 2023-11-16
  source text: On November 16, 2023, Nova LifeStyle, Inc. (the "Company"), Nova Living (M) Sdn Bhd, a wholly owned subsidiary of the Company ("Nova Malaysia") and WEB 3.0 Sdn Bhd ("Web 3.0"), a company incorporated in Malaysia entered into a Sale and Purchase Agreement (the "Agreement").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1473334/000149315223042507/0001493152-23-042507-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.