American Education Center, Inc. announced that it entered into a subscription agreement with accredited investor China Cultural Finance Holdings Company Limited, for private placement of 133,333,334 common shares with par value of $0.001 per share at a price of $0.0075 per share for an aggregate price of $1,000,000 and assignment, conveyance and transfer of all assets to the company on September 8, 2022. The securities issued in the transaction are restricted.