0001493152-23-006136.txt : 20230227
0001493152-23-006136.hdr.sgml : 20230227
20230227215450
ACCESSION NUMBER: 0001493152-23-006136
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230223
FILED AS OF DATE: 20230227
DATE AS OF CHANGE: 20230227
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Chan Heng Fai Ambrose
CENTRAL INDEX KEY: 0001261725
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-53537
FILM NUMBER: 23678123
MAIL ADDRESS:
STREET 1: 2601 INSLAND PLACE TOWER
STREET 2: 510 KINGS RD N POINT
CITY: HONG KONG
STATE: K3
ZIP: 999999999
FORMER NAME:
FORMER CONFORMED NAME: CHAN FAI
DATE OF NAME CHANGE: 20030828
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: GigWorld Inc.
CENTRAL INDEX KEY: 0001600347
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-53537
FILM NUMBER: 23678122
BUSINESS ADDRESS:
STREET 1: 4800 MONTGOMERY LANE
STREET 2: SUITE 450
CITY: BETHESDA
STATE: MD
ZIP: 20814
BUSINESS PHONE: 301-971-3940
MAIL ADDRESS:
STREET 1: 4800 MONTGOMERY LANE
STREET 2: SUITE 450
CITY: BETHESDA
STATE: MD
ZIP: 20814
FORMER NAME:
FORMER CONFORMED NAME: HotApp Blockchain Inc.
DATE OF NAME CHANGE: 20180104
FORMER NAME:
FORMER CONFORMED NAME: HotApp Blockchain, Inc.
DATE OF NAME CHANGE: 20180104
FORMER NAME:
FORMER CONFORMED NAME: HotApp International, Inc.
DATE OF NAME CHANGE: 20141209
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Value Exchange International, Inc.
CENTRAL INDEX KEY: 0001417664
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS BUSINESS SERVICES [7380]
IRS NUMBER: 263767331
STATE OF INCORPORATION: NV
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: UNIT 602 6/F BLOCK R
STREET 2: SHATIN INDUSTRIAL CENTRE 5-7 SHUN CIR.
CITY: HONG KONG
STATE: K3
ZIP: NONE
BUSINESS PHONE: 852 2950 4288
MAIL ADDRESS:
STREET 1: UNIT 602 6/F BLOCK R
STREET 2: SHATIN INDUSTRIAL CENTRE 5-7 SHUN CIR.
CITY: HONG KONG
STATE: K3
ZIP: NONE
FORMER COMPANY:
FORMER CONFORMED NAME: SINO PAYMENTS, INC.
DATE OF NAME CHANGE: 20090804
FORMER COMPANY:
FORMER CONFORMED NAME: Sino Payments, Inc.
DATE OF NAME CHANGE: 20081202
FORMER COMPANY:
FORMER CONFORMED NAME: China Soaring Inc.
DATE OF NAME CHANGE: 20071106
4
1
ownership.xml
X0306
4
2023-02-23
0
0001417664
Value Exchange International, Inc.
VEII
0001261725
Chan Heng Fai Ambrose
7 TEMASEK BOULEVARD #29-01B
SUNTEC TOWER ONE
SINGAPORE
U0
038987
SINGAPORE
1
0
1
0
0001600347
GigWorld Inc.
4800 MONTGOMERY LANE
SUITE 210
BETHESDA
MD
20814
0
0
1
0
Convertible Debt
0.11
2023-02-23
4
P
0
12727272
0.11
A
2023-02-23
2026-02-23
Common Stock
12727272
12727272
I
See footnote
Refer Remark.
Held by GigWorld. GigWorld's majority shareholder is Alset Inc. ("Alset"). Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset, and the Chairman and Chief Executive Officer of Alset. The Reporting Person has dispositive control over these securities.
Value Exchange International, Inc. ("VEII") entered into a Convertible Credit Agreement, dated as of January 27, 2023 ("Convertible Credit Agreement") with GigWorld Inc. ("GigWorld") and another potential lender. On February 23, 2023, GigWorld loaned VEII $1,400,000 (the "Loan Amount"). The Loan Amount can be converted into shares of VEII pursuant to the terms of the Convertible Credit Agreement for a period of three years. In the event that GigWorld converts this Loan Amount into shares of VEII Common Stock, the conversion price (the "Conversion Price") shall be the average closing price of VEII's Common Stock as quoted by Bloomberg Financial Markets (or a comparable reporting service of national reputation selected by VEII and reasonably acceptable to GigWorld if Bloomberg Financial Markets is not then reporting prices of VEII Common Stock) for the three (3) consecutive trading days prior to date of the notice of conversion delivered by GigWorld. For the purposes of estimating an exercise price, we assumed the closing price of VEII's shares of Common Stock on February 27, 2023: $0.11.
/s/ Heng Fai Ambrose Chan
2023-02-27
/s/ GigWorld Inc. by Lui Wai Leung, Alan, Chief Financial Officer
2023-02-27