Item 1.01 Entry into a Material Definitive Agreement
On January 5, 2021, Ecomat, Inc. (the "Company") entered into a Stock Purchase
Agreement (the "SPA") with Clark Orient (BVI) Limited, (the "Purchaser") and
certain selling stockholders as described in the SPA (the "Sellers"), pursuant
to which the Purchaser acquired 20,205,000 shares of common stock of the Company
(the "Shares") from Sellers for an aggregate purchase price of $320,000. The
transaction contemplated in the SPA closed on January 7, 2021 (the "Closing").
The Shares represent approximately 85% of the issued and outstanding common
stock of the Company. The transaction has resulted in a change in control of the
Company.
In connection with the change in control, Mr. Ivo Heiden, Chief Executive
Officer, Chief Financial Officer, sole director, and Chairman of the Board of
Director of the Company (the "Board"), resigned from all of his positions with
the Company and the resignations became effective on January 6, 2021.
Simultaneously with the Closing, Ms. Yang Gui was appointed as the Company's
Chief Executive Officer, Chief Financial Officer, and the Chairwoman of the
Board.
A form of the SPA is attached hereto as Exhibit 10.1. The foregoing is only a
brief description of the material terms of the SPA, and does not purport to be a
complete description of the rights and obligations of the parties thereunder and
is qualified in its entirety by reference to such exhibit.
Item 2.01. Completion of Acquisition or Disposition of Assets
The information set forth under Item 1.01 of this Current Report on Form 8-K is
incorporated into this Item 2.01 by reference.
Item 5.01. Changes in Control of Registrant
The information set forth under Item 1.01 of this Current Report on Form 8-K is
incorporated into this Item 5.01 by reference.
Item 5.02. Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers
(a) Resignation of Directors and Officers
Upon the Closing, Mr. Ivo Heiden, the Chief Executive Officer, Chief Financial
Officer, sole director, and Chairman of the Board of Director of the Company
(the "Board"), resigned from all his positions with the Company and the
resignation became effective on January 6, 2021.
There was no disagreement between Mr. Ivo Heiden and the Company.
(b) Appointment of Directors and Officers
Upon closing, the following person was appointed as our director and officer:
Name Position
Yang Gui Chief Executive Officer, Chief Financial Officer, sole director and the
Chairwoman of the Board.
Ms. Yang Gui has extensive experience in the financial industry. From 2013 to
the present, Ms. Gui serves as CEO & Co-Founder of E C Advisors, a company based
in New York and specialized in providing financial consulting services. From
2010 to 2013, she served as Vice President of Algorithm Sales at Bank of America
Merrill Lynch, New York. From 2005 to 2010, she served as Assistant Vice
President and later Vice President of Algorithm Sales & Trading at Investment
Technology Group (ITG) in New York. Ms. Gui obtained her bachelor's degree in
Nanjing University of Science & Technology in 1998. In 2005, Ms. Gui received
her master's degree in Statistics from Harvard University.
Ms. Gui does not have any family relationship with any director or executive
officer of the Company and has not been involved in any transaction with the
Company during the past two years that would require disclosure under Item
404(a) of Regulation S-K.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. Description
10.01 Stock Purchase Agreement by and among Ecomat, Inc., Clark Orient
(BVI) Limited and certain selling stockholders dated January 5,
2021.
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