 On June 26, 2020, the Company entered into an agreement with Malven Group Limited, a company established under the laws of the British Virgin Islands and an existing shareholder of the Company Malven, in connection with the purchase by Malven of 312,500 shares of common stock of the Company collectively the Shares at a price of 3.20 per share for gross proceeds of 1,000,000. The closing of the transaction is expected to take place on June 30, 2020. The issuances of the Shares are exempt from registration due to the exemption found in Regulation S promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended the Securities Act. 