Dong Li Fang Zhou

Homula

Haisen Shangliu

Effect of exchange rate changes

Total

Fair value of consideration

Cash

$

16,351

$

16,351

$

16,257

$

(122

)

$

48,837

Fair value of common stock (331,350 total shares issued)

55,225

(634

)

165,041

Fair value of contingent consideration liability

59,367

59,026

(681

)

177,079

Total consideration transferred

130,943

130,508

(1,437

)

390,957

Non-controlling interest (49%)

13,205

(7,588

)

15,272

(31

)

20,858

Total fair value

$

144,148

$

123,355

145,780

$

(1,468

)

$

411,815

Allocation to assets acquired and liabilities assumed:

Cash

$

2,675

$

19,373

$

31,891

$

-

$

53,939

Prepaid expenses

74,397

15,481

238

-

90,116

Office equipment

-

3,347

4,153

-

7,500

Accounts and other payables

(50,123

)

(53,686

)

(5,114

)

-

(108,923

)

Net tangible assets

26,949

(15,485

)

31,168

-

42,632

Intangible assets (provisional)

117,199

138,840

114,612

(1,468

)

369,183

Total net assets acquired

$

144,148

$

123,355

$

145,780

$

(1,468

)

$

411,815