1.
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Names of Reporting Persons .................................................................................................. Jade Lane I, L.P.
I.R.S. Identification Nos. of above persons (entities only).
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2.
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Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ................................................................................................................................................ □
(b) ................................................................................................................................................ □
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3
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SEC Use Only
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4.
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Source of Funds (See Instructions) ......................................................................................... WC
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5.
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Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ..... N/A
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6.
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Citizenship or Place of Organization ....................................................................................... British Virgin Islands
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Number of Shares Bene-ficially by Owned by Each Reporting Person With
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7. Sole Voting Power
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8. Shared Voting Power ........................................................................................................ 3,043,478(1)(2)
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9. Sole Dispositive Power
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10. Shared Dispositive Power ................................................................................................ 3,043,478 (1)(2)
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11.
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Aggregate Amount Beneficially Owned by Each Reporting Person ...................................... 3,043,478 (1)(2)
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12.
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Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) .. □
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13.
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Percent of Class Represented by Amount in Row (11) ........................................................... 8.08%
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14.
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Type of Reporting Person (See Instructions)
....................................................................................................................................................... CO
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(1)
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The calculation of this percentage is based on 37,660,192 Shares (as defined below) outstanding which is the sum of (i) 34,616,714 shares outstanding as of May 15, 2014, as reported in the Issuer’s Form 10-Q for the quarter ended March 31, 2014, filed with the SEC on May 15, 2014 and (ii) 3,043,478 shares of Common Stock issuable upon conversion of the Note (as defined below).
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(2)
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The shares are held by Jane Lane I, L.P. (“JLI”). Jane Lane Group Limited (“Jade Lane”) is the sole general partner of JLI. Chen Wenxuan is the sole director of Jade Lane and has voting and dispositive power over the shares held by JLI; however, Jade Lane and Chen Wenxuan each disclaims beneficial ownership of shares held by JLI, except to the extent of their pecuniary interests therein. JLI, Jade Lane and Chen Wenxuan expressly disclaim status as a “group” for purpose of this Schedule 13D.
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1.
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Names of Reporting Persons ................................................................................................... Jade Lane Group Limited
I.R.S. Identification Nos. of above persons (entities only).
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2.
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Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ................................................................................................................................................ □
(b) ................................................................................................................................................ □
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3
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SEC Use Only
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4.
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Source of Funds (See Instructions) ......................................................................................... WC
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5.
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Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) .... N/A
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6.
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Citizenship or Place of Organization ...................................................................................... British Virgin Islands
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Number of Shares Bene-ficially by Owned by Each Reporting Person With
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7. Sole Voting Power
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8. Shared Voting Power ....................................................................................................... 3,043,478(1)(2)
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9. Sole Dispositive Power
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10. Shared Dispositive Power ............................................................................................... 3,043,478(1)(2)
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11.
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Aggregate Amount Beneficially Owned by Each Reporting Person ..................................... 3,043,478(1)(2)
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12.
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Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) . □
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13.
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Percent of Class Represented by Amount in Row (11) .......................................................... 8.08%
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14.
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Type of Reporting Person (See Instructions)
..................................................................................................................................................... CO
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(1)
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The calculation of this percentage is based on 37,660,192 Shares outstanding which is the sum of (i) 34,616,714 shares outstanding as of May 15, 2014, as reported in the Issuer’s Form 10-Q for the quarter ended March 31, 2014, filed with the SEC on May 15, 2014 and (ii) 3,043,478 shares of Common Stock issuable upon conversion of the Note.
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(2)
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The shares are held by Jane Lane I, L.P. (“JLI”). Jane Lane Group Limited (“Jade Lane”) is the sole general partner of JLI. Chen Wenxuan is the sole director of Jade Lane and has voting and dispositive power over the shares held by JLI; however, Jade Lane and Chen Wenxuan each disclaims beneficial ownership of shares held by JLI, except to the extent of their pecuniary interests therein. JLI, Jade Lane and Chen Wenxuan expressly disclaim status as a “group” for purpose of this Schedule 13D.
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1.
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Names of Reporting Persons ......................................................................................................... Chen Wenxuan
I.R.S. Identification Nos. of above persons (entities only).
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2.
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Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ...................................................................................................................................................... □
(b) ...................................................................................................................................................... □
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3
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SEC Use Only
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4.
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Source of Funds (See Instructions) ............................................................................................... AF;PF
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5.
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Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) .......... N/A
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6.
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Citizenship or Place of Organization ............................................................................................. China
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Number of Shares Bene-ficially by Owned by Each Reporting Person With
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7. Sole Voting Power ................................................................................................................. 149,106
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8. Shared Voting Power ............................................................................................................. 3,043,478(1)(2)
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9. Sole Dispositive Power ......................................................................................................... 149,106
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10. Shared Dispositive Power ..................................................................................................... 3,043,478(1)(2)
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11.
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Aggregate Amount Beneficially Owned by Each Reporting Person ........................................... 3,192,584(1)(2)
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12.
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Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ...... □
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13.
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Percent of Class Represented by Amount in Row (11) ............................................................... 8.48%
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14.
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Type of Reporting Person (See Instructions)
........................................................................................................................................................... IN
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(1)
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The calculation of this percentage is based on 37,660,192 Shares outstanding which is the sum of (i) 34,616,714 shares outstanding as of May 15, 2014, as reported in the Issuer’s Form 10-Q for the quarter ended March 31, 2014, filed with the SEC on May 15, 2014 and (ii) 3,043,478 shares of Common Stock issuable upon conversion of the Note.
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(2)
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The shares are held by Jane Lane I, L.P. (“JLI”). Jane Lane Group Limited (“Jade Lane”) is the sole general partner of JLI. Chen Wenxuan is the sole director of Jade Lane and has voting and dispositive power over the shares held by JLI; however, Jade Lane and Chen Wenxuan each disclaims beneficial ownership of shares held by JLI, except to the extent of their pecuniary interests therein. JLI, Jade Lane and Chen Wenxuan expressly disclaim status as a “group” for purpose of this Schedule 13D.
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1.
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JLI.
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(a)
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JLI is a corporation organized under the laws of the British Virgin Islands with a principal business involving investments.
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(b)
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The principal office for JLI is located at Unit 1109-1116, HSBC Building, Shanghai IFC, 8 Century Avenue, Pudong District, Shanghai 200120, China.
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(c)
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Within the last five years, JLI has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
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(d)
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During the last five years, JLI has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, which as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, United States federal or state securities laws or finding any violation with respect to such laws.
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2.
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Jade Lane.
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(a)
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Jade Lane is a corporation organized under the laws of the British Virgin Islands with a principal business involving investments.
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(b)
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The principal office for Jade Lane is located at Unit 1109-1116, HSBC Building, Shanghai IFC, 8 Century Avenue, Pudong District, Shanghai 200120, China.
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(c)
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Within the last five years, Jade Lane has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
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(d)
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During the last five years, Jade Lane has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, which as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, United States federal or state securities laws or finding any violation with respect to such laws.
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3.
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Ms. Chen Wenxuan.
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(a)
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Ms. Chen Wenxuan, an individual.
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(b)
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Ms. Chen’s business address is Unit 1109-1116, HSBC Building, Shanghai IFC, 8 Century Avenue, Pudong District, Shanghai 200120, China.
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(c)
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Ms. Chen’s present principal occupation is Managing partner of HFG CHINA, but is also a director of Jade Lane.
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(d)
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Within the last five years, Ms. Chen has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
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(e)
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During the last five years, Ms. Chen has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, which as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, United States federal or state securities laws or finding any violation with respect to such laws.
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(f)
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Ms. Chen is a citizen of China.
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(a)
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The acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer;
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(b)
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An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries;
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(c)
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A sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries;
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(d)
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Any change in the present Board of Directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the Board;
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(e)
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Any material change in the present capitalization or dividend policy of the Issuer;
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(f)
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Any other material change in the Issuer’s business or corporate structure including, but not limited to, if the Issuer is a registered closed-end investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by Section 13 of the Investment Company Act of 1940;
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(g)
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Changes in the Issuer’s charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person;
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(h)
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Causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association;
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(i)
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A class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended, or
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(j)
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Any action similar to any of those enumerated above.
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(a)
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Subject to the Beneficial Ownership Limitation, the Reporting Persons are deemed to beneficially own an aggregate 3,043,478 Shares upon conversion of the Note, or 8.08% ownership of the outstanding class of Shares, determined in accordance with Rule 13d-3(d)(1). The percentage calculation is based upon on 37,660,192 Shares outstanding which is the sum of (i) 34,616,714 shares outstanding as of May 15, 2014, as reported in the Issuer’s Form 10-Q for the quarter ended March 31, 2014, filed with the SEC on May 15, 2014 and (ii) 3,043,478 Shares issuable upon conversion of the Note.
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(b)
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The following table sets forth the number of Shares as to which the Reporting Persons have (i) the sole power to vote or direct the vote, (ii) shared power to vote or to direct the vote, (iii) sole power to dispose or to direct the disposition, or (iv) shared power to dispose or to direct disposition:
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Reporting
Person
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Sole
Voting
Power
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Shared
Voting
Power*
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Sole
Dispositive
Power
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Shared Dispositive Power*
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JLI
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0
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3,043,478
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0
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3,043,478
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Jade Lane
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0
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3,043,478
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0
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3,043,478
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Chen Wenxuan
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149,106
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3,043,478
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149,106
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3,043,478
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* Includes Note on an as-converted basis (subject to the Beneficial Ownership Limitation).
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(c)
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Except as set forth herein, none of the Reporting Persons have effected any transactions in the Shares during the last 60 days.
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(d)
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No other person is known to have the right to receive or the power to direct the receipt of dividends from, or any proceeds from the sale of, the Shares beneficially owned by any of the Reporting Persons.
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(e)
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Not applicable.
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Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
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