Item 5.01 Changes in Control of Registrant.
On January 25, 2021, as a result of a private transactions, 10,000,000 shares of
Series A Preferred Stock, $0.001 par value per share (the "Shares") of Finotec
Group, Inc., a Nevada corporation (the "Company"), were transferred from
Custodian Ventures, LLC to Yang Fuzhu (the "Purchaser"). As a result, the
Purchaser became an approximately 86.95% holder of the voting rights of the
issued and outstanding share capital of the Company on a fully-diluted basis of
the Company, and became the controlling shareholder. The consideration paid for
the Shares was $250,000. The source of the cash consideration for the Shares was
personal funds of the Purchaser. In connection with the transaction, David Lazar
released the Company from all debts owed to him.
Other than as described below, there are no arrangements or understandings among
both the former and new control persons and their associates with respect to the
election of directors of the Company or other matters. The information set forth
in Item 5.02 of this Form 8-K is incorporated by reference into this Item 5.01.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 25, 2021, the existing director and officer resigned immediately.
Accordingly, David Lazar, serving as a director and an officer, ceased to be the
Company's Chief Executive Officer, Chief Financial Officer, President,
Treasurer, Secretary and a Director. At the effective date of the transfer, Yang
Fuzhu consented to act as the new President, CEO, CFO, Treasurer, Secretary and
Chairman of the Board of Directors of the Company.
Yang Fuzhu - President, Chief Executive Officer and Director
Mr. Yang graduated from Jiangsu Vocational College of Electronics and
Information (formerly known as Huaiyin Electronic Industry School) in year 1997.
Mr. Yang has twenty years' experience in his career in photography. He
established "Red Rose Studio" in 1999, to provide customized photo shooting
services such as wedding photo shooting, wedding banquet shooting and portrait
photo shooting etc. He is the Founder and Chairman at Haoye Network Information
Consultant Limited Company in Wuxi, China from 2009 to the present date, where
he was responsible for corporate network system construction, website content
optimization, online sales personnel training, online shop system improvement
and providing guidance in online industry alliances, etc. From 2011 to the
present date, Mr. Yang has served as Founder and Chairman of Lvpai Culture
Communication (Shanghai) Company Limited, where he has set up the online
platform ("lvpai.com") as online service marketing provider, providing
destination wedding photographer business and city brand name establishment and
planning. From 2020 to the present date, Mr. Yang has served as Founder and
Chairman of Jiangsu Travel Photography Technology Group Company Limited, where
he is responsible for business management and strategic planning.
From 2008 to the present time, Mr. Yang serves as a member of the council of
China Portrait Photography, where he is responsible for integrating the member
resource and member training. Mr. Yang's business leadership and professional
photography expertise has, in the Company's estimation, qualified him for his
roles as the Company's President, Chief Executive Officer and Director.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1 STOCK PURCHASE AGREEMENT, dated January 25, 2021, by and between
Custodian Ventures, LLC and Yang Fuzhu.
99.2 DIRECTORS RESOLUTIONS, dated January 25, 2021.
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