Huale Group CO., Limited entered into a memorandum of understanding to acquire Huale Acoustics Corporation (OTCPK:HYAS) in a reverse merger transaction on March 19, 2019. Huale Group CO., Limited entered into a definitive Share Exchange Agreement to acquire Huale Acoustics Limited in a reverse merger transaction on February 24, 2020. Under the terms of the memorandum, Huale Acoustics Corporation will acquire HUALE GROUP CO., LIMITED in exchange of 90% of its stake. Under the terms of the agreement, Huale Group CO., Limited will acquire Huale Acoustics Limited in exchange of 90% of Huale Acoustics Limited's stake. Huale Acoustics Limited will issue 32.6 million shares as consideration. The transaction is subject to third party approval, consummation and satisfaction of due diligence, approval from lenders/creditors, consummation of financial audit of Huale Group CO., Limited and signing of definitive agreement. The agreement is subject to obtaining all consents, waivers, authorizations and approvals of any governmental or regulatory authority, domestic or foreign, and of any other person, firm or corporation required in connection with the execution, delivery and performance of the Share Exchange Agreement and all such consents, waivers, authorizations and approvals shall be in full force and effect on the Closing Date. As of March 29, 2019, all necessary corporate approvals for the transaction has been received. The HGL Shareholders have approved this Agreement on behalf of HGL and no other stockholder approvals are required to consummate the transactions contemplated hereby. The sole officer and director of HAL shall have submitted his resignation as an officer and as a director of HAL. The completion is expected in April 2019. As of February 24, 2020, the completion is expected on or before March 16, 2020. Henry F. Schlueter of Schlueter & Associates, P.C. acted as legal advisor for Huale Acoustics Limited.