Ionix Technology Inc
IINX
Delayed OTC Bulletin Board - 04/19 03:33:46 pm
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IONIX TECHNOLOGY, INC. : Changes in Control or Registrant (form 8-K)

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04/21/2017 | 09:28 pm

Item 5.01 Change in Control of Registrant.



As previously reported on our current report on Form 8-K filed with the
Commission on April 10, 2017, incorporated herein by reference, on April 7,
2017
, Ben William Wong ("Wong") and Yubao Liu, an individual ("Liu") entered
into a Stock Purchase Agreement (the "Agreement") whereby Wong agreed to sell
and Liu agreed to purchase 5,000,000 shares of the Company's restricted
preferred stock, representing 100% of the total issued and outstanding preferred
stock ("Company Preferred Stock"). In consideration for the Company Preferred
Stock, Liu agreed to pay to Wong a total of 5,000,000 Chinese Yuan on or before
April 30, 2017. The Agreement closed on April 20, 2017 (the "Closing")



Additionally, on April 5, 2017, Liu and Shining Glory Investments Limited, a
British Virgin Islands company ("Shining Glory"), of which Wong is the sole
officer and director, entered into a purchase agreement whereby Liu acquired 1
ordinary common stock share (the "Shining Glory Share") representing
approximately 100% of Shining Glory's outstanding shares of common stock. In
consideration for the Shining Glory Share, Liu paid to Wong a total of $1 USD
and Wong resigned as a Director of Shining Glory. Concurrently, Liu was
appointed as the sole director of Shining Glory. The agreement between Shining
Glory and Liu closed on April 20, 2017.



Shining Glory is the beneficial owner of 29,846,000 shares of restricted common
stock ("Company Common Stock") of Ionix Technology, Inc. (the "Company"),
representing 30.147% of the Company's total issued and outstanding common stock,
and at Closing Liu became the beneficial owner of 5,000,000 shares of the
Company's Preferred Stock, representing 100% of the total issued and outstanding
preferred stock. As the holder of the Company Preferred Stock, Liu has the right
to 100 votes for each share of Company Preferred Stock. Combining the votes
associated with the Company Common Stock with those associated with the Company
Preferred Stock means that Liu has over 50% voting control of the Company. As a
result of the Closing, an indirect change in control of the Company occurred,
and, Liu, as the sole shareholder, officer and director of Shining Glory, has
dispositive voting control of the Company by virtue of Shining Glory's ownership
of the Company Common Stock and Liu's ownership of the Company Preferred Stock.
There are no arrangements or understandings among Wong and Liu or their
associates with respect to Company matters that require shareholders' vote,
including, but not limited to, the election of officers or other matters related
to the Company.



The foregoing description of the Agreement is qualified by reference to the
complete terms of the agreements, a copy of which was filed as Exhibit 10.1 to
the Company's Current Report on Form 8-K filed with the Commission on April 10,
2017
, and incorporated herein by reference.



Security Ownership of Certain Beneficial Owners and Management



The following table lists, as of April 20, 2017, the number of shares of common
stock that are beneficially owned by (i) each person or entity known to the
Company to be the beneficial owner of more than 5% of the outstanding common
stock; (ii) each officer and director of the Company; and (iii) all officers and
directors as a group.



The amounts and percentages of common stock beneficially owned are reported on
the basis of regulations of the SEC governing the determination of beneficial
ownership of securities. Under the rules of the SEC, a person is deemed to be a
"beneficial owner" of a security if that person has or shares voting power,"
which includes the power to vote or to direct the voting of such security, or
"investment power," which includes the power to dispose of or to direct the
disposition of such security. A person is also deemed to be a beneficial owner
of any securities of which that person has the right to acquire beneficial
ownership within 60 days. Under these rules more than one person may be deemed a
beneficial owner of the same securities and a person may be deemed to be a
beneficial owner of securities as to which such person has no economic interest.
Except as noted below, each person has sole voting and investment power.



Unless otherwise indicated below, each beneficial owner named in the table has
sole voting and sole investment power with respect to all shares beneficially
owned, subject to community property laws where applicable. The address of each
beneficial owner is Chengdong Industrial Park, Fenyi County, Xinyu City, Jiangxi
Province
, China and the address of more than 5% of common stock is detailed
below.






Amount and Nature of Percentage of
Name and Address of Beneficial Owner, Beneficial Beneficial
Directors and Officers: Ownership Ownership (1)
Doris Zhou (2) 0 0%
Yue Kou(3) 0 0.0%
Qingchun Yang(4) 0 0.0%
Zhengfu Nan(5) 0 0.0%
Yun Yang(6) 0 0.0%
Youqian Deng(7) 0 0.0%
Xin Sui(8) 0 0.0%
All executive officers and directors as a 0 0.0%


group (7people)




Beneficial Shareholders of Common Stock
greater than 5%
Shining Glory Investments Limited(9) 29,846,000 30.147%
Yang Kan (10) 7,600,000 7.67%
Beneficial Owners of Preferred Stock(1): Amount and Nature of Percentage of



Beneficial Beneficial
Ownership Ownership (1)
Yubao Liu(9) 5,000,000 100%




--------------------------------------------------------------------------------

(1) Applicable percentage of ownership is based on 99,003,000 shares of common
stock outstanding and 5,000,000 shares of Preferred Stock issued and outstanding
on April 20, 2017. Percentage totals are calculated separately based on each
class of capital stock. Each share of Preferred Stock entitles the holder to
vote 100 shares of common stock; the Preferred Stock is not convertible into
common stock. Percentage ownership is determined based on shares owned together
with securities exercisable or convertible into shares of common stock within 60
days of April 20, 2017, for each stockholder. Beneficial ownership is determined
in accordance with the rules of the SEC and generally includes voting or
investment power with respect to securities. Shares of common stock subject to
securities exercisable or convertible into shares of common stock that are
currently exercisable or exercisable within 60 days of June 30, 2016, are deemed
to be beneficially owned by the person holding such securities for the purpose
of computing the percentage of ownership of such person, but are not treated as
outstanding for the purpose of computing the percentage ownership of any other
person. .
(2) Doris Zhou is the CEO, Secretary, Treasurer, and Director of Ionix
Technology
. Ms. Zhou's beneficial ownership includes 0 shares of common stock
and 0 shares issuable upon the exercise of stock options.
(3) Yue Kou is the CFO of Ionix Technology. Ms. Kou's beneficial ownership
includes 0 shares of common stock and 0 shares issuable upon the exercise of
stock options.
(4) Qingchun Yang is the President and Director of Well Best, a wholly owned
subsidiary of Ionix Technology. Mr. Yang's beneficial ownership includes 0
shares of common stock of the Company and 0 shares issuable upon the exercise of
stock options.
(5) Zhengfu Nan is the President and Director of Xinyu Ionix, an indirect wholly
owned subsidiary of Ionix Technology. Mr. Nan's beneficial ownership includes 0
shares of common stock of the Company and 0 shares issuable upon the exercise of
stock options.
(6) Yun Yang is the President and Director of Lisite Science Technology, an
indirect wholly owned subsidiary of Ionix Technology. Mr. Nan's beneficial
ownership includes 0 shares of common stock of the Company and 0 shares issuable
upon the exercise of stock options.
(7) Youqian Deng is the President and Director of Shenzhen Baileqi Electronic
Technology Co., Ltd
, an indirect wholly owned subsidiary of Ionix Technology.
Mr. Nan's beneficial ownership includes 0 shares of common stock of the Company
and 0 shares issuable upon the exercise of stock options.
(8) Xin Sui is President and Director of Welly Surplus International Limited, a
wholly owned subsidiary of Ionix Technoloy. Mr. Sui's beneficial ownership
includes 0 shares of common stock of the Company and 0 shares issuable upon the
exercise of stock options.
(9) Shining Glory Investments Limited is the beneficial owner of 29,846,000
shares of common stock of the Company and Yubao Liu is the beneficial owner of
5,000,000 shares of preferred stock which has the authority to vote a total of
500,000,000 common stock votes. As of April 20, 2017, Yubao Liu is the sole
officer and director of Shining Glory Investments Limited and has dispositive
voting and investment control over the shares held by Shining Glory. Thus, in
total, Shining Glory and its sole officer and director collectively owns an
aggregate 88.45% of the total outstanding voting securities of the Company. Mr.
Liu
maintains a mailing address at No. 122, Zu 9, Hongguang Community, Xiangyang
District
, Jiamusi, Heilongjiang, China.
(10) Mr. Yang Kan's beneficial ownership includes 7,600,000 shares of common
stock of the Company and 0 shares issuable upon the exercise of stock options.

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