Kin Hon Chu entered into a stock purchase agreement to acquire 85% stake in Han Logistics, Inc. (OTCBB:HANO) from Michael Vardakis for $0.4 million on February 12, 2015. Kin Hon Chu paid $4,406.61 for shares and paid off all of the existing liabilities in the amount of $0.4 million. The closing of the transaction is subject to delivery of certain financial information by Michael Vardakis to Kin Hon Chu and one-half of the proceeds will be held in escrow pending the delivery of the financial information by Vardakis and the approval and acceptance of the financial information by Kin Hon Chu. On February 12, 2015, Michael Vardakis resigned as Chief Executive Officer and Board of Directors appointed Kin Hon Chu to serve as Director and appointed Law Wai Fan as Chief Executive Officer, Marie Huen Lai Chun as Chief Operating Officer and Cheng Kin Ning as Chief Financial Officer.

Kin Hon Chu completed the acquisition of 85% stake in Han Logistics, Inc. (OTCBB:HANO) from Michael Vardakis on February 24, 2015. Kin Hon Chu confirmed that the financial information was adequate and the remaining purchase price was released from the escrow and delivered to Michael Vardakis.