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