Nova Lifestyle Inc (NVFY) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Nova LifeStyle, Inc. and its wholly owned subsidiary Nova Living (M) Sdn Bhd have entered into an agreement with ATS Brand Sdn Bhd to acquire an AI-Calculation Engine System for $750,000. The payment will be made through the issuance of 300,000 shares of Nova LifeStyle’s common stock valued at $2.5 per share. This transaction is exempt from registration under Regulation S of the Securities Act of 1933.
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