$AGHI On August 31, 2018, the shareholders of eSil

$AGHI On August 31, 2018, the shareholders of eSilkroad and the Company entered into an addendum to the Agreement so that the ownership percentage of eSilkroad acquired by the Company would be decreased from 100% to 51%. The revisions to the Agreement are the result of various management meetings with potential investment partners in Asia and Eastern Europe. The Company and the shareholders of eSilkroad, have proposed to raise financing of up to US$20 million over the next thirty-six months to fund the various stages of development required to commercialize and launch the B2B platform through private sales of equity to qualified investors directly in eSilkroad. Organizations currently working with eSilkroad supporting the development efforts of the B2B platform have indicated diverse ownership of eSilkroad, including investment from various investors and investment groups in Asia and Eastern Europe, is an optimal structure to secure participation by various target countries for the platform.
Ruben Yakubov, the Company’s president stated, “We remain extremely excited to work with eSilkroad management and shareholders on this groundbreaking project. We understand the importance of local involvement from Chinese and Eastern European countries to the initial launch of the eSilkroad platform, as the formative concept of the site and its launch stems from the historic trade and commerce relationships between these countries. Our goal is to facilitate fundraising efforts and continuing development of the platform while bringing value for our shareholder base. With the completion of this addendum we can now move quickly to focus all our attention on the implementation of the launch timeline and surrounding business plan.”