Nocera sells controlling interest in Xin Feng Construction for $300,000 cash

NOCERA, INC.

Sold its controlling interest in Xin Feng Construction Co., Ltd (XFC) to Han-Chieh Shih for $300,000 cash.
Closing occurred on November 30, 2022; VIE agreements giving Nocera control over XFC were terminated.
Purchaser does not assume any pre-closing liabilities of XFC; Nocera indemnifies for prior obligations.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NOCERA, INC. entered into Purchase of Business Agreement (XFC Purchase Agreement) with Han-Chieh Shih valued at $300,000 (effective 2022-11-30).

Action: entry
Agreement: asset purchase
Counterparty: Han-Chieh Shih
Value: $300,000
Effective: 2022-11-30

Exact text from the filing

On November 30, 2022, Nocera, Inc., a Nevada corporation (the “Company”), entered into a Purchase of Business Agreement (the “XFC Purchase Agreement”) with Han-Chieh Shih (the “Purchaser”), in which the Company sold its controlling interest of Xin Feng Construction Co., Ltd, a domestic funded limited liability company registered in Taiwan (“XFC”), to the Purchaser for a total purchase cash price of $300,000 (the “XFC Sale”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NOCERA, INC. terminated VIE Agreements with XFC (Xin Feng Construction Co., Ltd) valued at Termination of VIE Agreements due to sale of XFC (effective 2022-11-30).

Action: termination
Counterparty: XFC (Xin Feng Construction Co., Ltd)
Value: Termination of VIE Agreements due to sale of XFC
Effective: 2022-11-30

Exact text from the filing

As a result of the XFC Sale disclosed in Item 1.01 of this Form 8-K, the VIE Agreements were terminated as of the Closing Date.

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Source: SEC EDGAR

accession 0001683168-22-008169

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