AND EXCHANGE COMMISSION
Washington, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
of Report (Date of earliest event reported): May 27, 2021
ELDERLY LIFE NETWORK CORP.
(Exact name of registrant as specified in its charter)
or Other jurisdiction
Valley Blvd., Suite J
Rosemead, California 91770
(Address, including zip code, and telephone number, including area code,
of registrant’s principal executive offices)
RETIREMENT NETWORK CORP.
name or former address, if changed since last report.)
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
registered pursuant to Section 12(b) of the Act:
of each class
of each exchange on which registered|
Stock, par value $0.001 per share
this Current Report on Form 8-K, “Company,” “our company,” “us,” “HQDA,” and “our”
refer to HQDA Elderly Life Network Corp., unless the context requires otherwise.
disclosure and analysis in this Current Report on Form 8-K contains some forward-looking statements. Certain of the matters discussed
concerning our operations, cash flows, financial position, economic performance and financial condition, and the effect of economic conditions
include forward-looking statements. Statements that are predictive in nature, that depend upon or refer to future events or conditions
or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,”
“estimates” and similar expressions are forward-looking statements. Although we believe that these statements are based upon
reasonable assumptions, including projections of orders, sales, operating margins, earnings, cash flow, research and development costs,
working capital, capital expenditures and other projections, they are subject to several risks and uncertainties.
are cautioned that our forward-looking statements are not guarantees of future performance and the actual results or developments may
differ materially from the expectations expressed in the forward-looking statements.
for the forward-looking statements that relate to future financial results and other projections, actual results will be different due
to the inherent uncertainty of estimates, forecasts and projections may be better or worse than projected. Given these uncertainties,
you should not place any reliance on these forward-looking statements. These forward-looking statements also represent our estimates
and assumptions only as of the date that they were made. We expressly disclaim a duty to provide updates to these forward-looking statements,
and the estimates and assumptions associated with them, after the date of this filing to reflect events or changes in circumstances or
changes in expectations or the occurrence of anticipated events. You are advised, however, to consult any additional disclosures we make
in our reports on Form 10-K, Form 10-Q, Form 8-K, or their successors.
8.01 Other Events
May 27, 2021, Shanghai No. 2 Intermideate Court entered a verdict of the second trial raised in the January 16, 2020 lawsuit which supported
the first verdict in Decemember, 2020 and was filed against the Company and Shanghai Hongfu, one of HQDA’s subsidiaries, by Shanghai
Qiao Hong Real Estate, Ltd and its subsidiaries (the “Plaintiff”) for breach of contract and non-payment of an installment
pursuant to an Asset Purchase Agreement entered into between the Company and the Plaintiff on April 2, 2018. The Court ordered HQDA to
pay to the plaintiff a total of RMB 68,400,000. Although the verdict was unexpected, the Company was prepared for such event. It is a
substantial amount, but it will not impact on the Company moving forward with its Global Wellness Alliance business which is the Company’s
main goal platform to be established in the near future. Since the Company now partially owns the assets purchased from the Plaintiff,
it is looking into ways to utilize the assets in a meaningful and profitable enterprise.
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Elderly Life Network Corp.