 On March 31, 2020, the Company entered into a Stock Purchase Agreement the Purchase Agreement with Yunfei Lu, a citizen of the Peoples Republic of China the PRC Buyer, pursuant to which the Company will sell, convey and transfer its legacy business, through the sale of all the issued and outstanding shares of the capital stock of NF ENERGY SAVING INVESTMENT LIMITED, a company organized under the laws of the British Virgin Islands Parent the Asset Sale to Buyer. Parent owns, indirectly, all the issued and outstanding shares of the capital stock of LIAONING NENGFA WEIYE ENERGY TECHNOLOGY CO., LTD., a company organized under the laws of the PRC the Target. The closing of the Purchase Agreement is expected to be in or about May, 2020. 