Certain Assets of Shenzhen Jinke Energy Development Co., Ltd. ('SJD') entered into a cooperation agreement to acquire China Teletech Holding, Inc. (OTCPK:CNCT) in a reverse merger transaction on June 30, 2014. Under the terms of the agreement, China Teletech will purchase 51% of all the assets of Shenzhen Jinke. China Teletech will issue 20 million shares in exchange of 16% of all the assets of Shenzhen Jinke and upon completion of a financing will purchase the additional 35% of the assets of SJD in consideration of certain amount of the shares of common stock to be issued to SJD as proportionate to the first stock issuance (approximately 43.75 million shares)or such amount of cash as equivalent to the fair market value of the second stock issuance, subject to adjustment based on result of the due diligence on SJD.