Huayue Electronics, Inc. (OTCPK:HUAY) acquired 51% interest in SavWatt Kazakhstan Ltd from Isaac H. Sutton for $2.7 million in stock on April 23, 2015. Under the terms of the transaction, Huayue Electronics will issue 3 million common stock as consideration for the transaction. Isaac. H. Sutton will serve as officer, Chief Executive Officer, Secretary and Director of Sutton Global. Shudong Pan, Han Zhou and Qing Biao resigned as Chief Executive Officer, Chief Financial Officer and Secretary of SavWatt Kazakhstan, respectively. Shudong Pan and Han Zhou will continue as Chief Executive Officer and Chief Financial Officer, respectively, of the SavWatt's wholly-owned subsidiary, Changzhou Huayue Electronic Co., Ltd. Eric M. Hellige of Pryor Cashman LLP acted as legal advisor for Isaac H. Sutton.

Huayue Electronics, Inc. (OTCPK:HUAY) completed the acquisition of 51% interest in SavWatt Kazakhstan Ltd from Isaac H. Sutton on April 23, 2015.