UNAUDITED PRO FORMA COMBINED FINANCIAL STATEMENTSExchange Agreement • December 23rd, 2020 • Advanced Container Technologies, Inc. • Miscellaneous plastics products
The Company entered into an Exchange Agreement, dated as of August 14, 2020, by and among the Company, Advanced Container Technologies, Inc., a California corporation (“ACT”), and all of the shareholders of ACT (the “Shareholders”), which was amended on September 9, 2020 (as amended, the “Exchange Agreement”). The closing under the Exchange Agreement occurred on October 9, 2020, such that the Shareholders exchanged, on a pro rata basis, all of their shares in ACT for 50,000,000 shares of the Company’s common stock (the “Exchange”). As a result of the Exchange, ACT became the wholly owned subsidiary of the Company. The Company changed its corporate name to Advanced Container Technologies, Inc. on October 3, 2020.
