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SUBSEQUENT EVENTS
3 Months Ended
Sep. 30, 2022
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 21 - SUBSEQUENT EVENTS

 

On October 21, 2022, Life Science entered into a stock purchase agreement (the “Agreement”) with Beijing Kanghuayuan Medicine Information Consulting Co., Ltd., a company established under the laws of China (“Seller”), and Changzhou Biowin Pharmaceutical Co., Ltd., a company established under the laws of China (“Target”), pursuant to which Life Science would acquire 51% of the issued equity interests of Target from Seller (the “Acquisition”). The closing of the Acquisition is subject to various customary closing conditions. As the consideration for the Acquisition, the Company will pay the Seller US $9 million in cash and within 30 days after closing, the Company will issue 3,260,000 shares of the Company’s common stock, par value $0.001 per share to the equity holders of Seller or any persons designated by Seller.

 

These unaudited condensed consolidated financial statements were approved by management and available for issuance on November 14, 2022, and the Company has evaluated subsequent events through this date. No subsequent events required adjustments to or disclosure in these unaudited condensed consolidated financial statements.