CEN Biotech, Inc. entered into a share purchase agreement to acquire 70% of the outstanding common stock in the capital of AstralENERGY Solar Manufacturing Corporation, LTD on July 31, 2018. CEN Biotech will issue an aggregate 2.5 million shares of common stock of CEN Biotech, Inc. as consideration for the acquisition. CEN Biotech shall not have any employees and any liabilities as of the date of closing. As per the article of May 20, 2020, Richard Boswell was appointed as the Interim Chief Executive Officer of AstralENERGY Solar Manufacturing Corporation, LTD and as a member of its board of directors on August 1, 2018. Consummation of the acquisition is subject to the completion of certain conditions specified in the agreement including the receipt by CEN Biotech, Inc. of the audited financial statements of AstralENERGY, prepared in accordance with United States Generally Accepted Accounting Principles. The Board of Directors of CEN Biotech have approved the transaction pursuant to the agreement. As of August 19, 2019, the transaction is still pending. As of November 18, 2019, the transaction has not closed. As of April 14, 2020, the transaction has not closed. CEN Biotech, Inc. cancelled the acquisition of 70% of the outstanding common stock in the capital of AstralENERGY Solar Manufacturing Corporation, LTD on May 19, 2020.