Item 2. Properties
Item 2. PROPERTIES.
Prior to the consummation
of the Merger on December 31, 2020, our main offices and manufacturing facilities were located in Baodi District, Tianjin City, PRC. We
were issued a Land Use Right Certificate by the People’s Government of Tianjin City with an expiration date of October 10,
2057, and received a Property Ownership Certificate for approximately 27,500 square meters of land and constructed nine buildings thereon
in Baodi District, Tianjin City, PRC. Among the nine buildings, four buildings were used for production, two for employee and franchisee
training, one for employee accommodation, one for storage, and one for parking.
After the consummation of
the Merger, we own no properties.
Item 3. LEGAL PROCEEDINGS.
We have no knowledge of any
material, active, pending or threatened proceeding against us or our subsidiaries, nor are we, or any subsidiary, involved as a plaintiff
or defendant in any material proceeding or pending litigation.
Item 4. MINE SAFETY DISCLOSURES.
Not applicable.
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PART II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.