UMAX Group Corp. (OTCPK:UMAX) executed an equity exchange agreement to acquire Home Foam Corporation on November 20, 2020. Pursuant to this agreement, UMAX acquired all outstanding equity of Home Foam in exchange for 1 million shares of Series B, Preferred Stock of the UMAX. Additionally, there is contractual rider which states that the Series B Preferred Stock to be issued as part of this acquisition cannot be converted to the Common Stock of UMAX for a period of three calendar years or Home Foam has four profitable consecutive quarters, whichever comes first. As a result of the transaction, Home Foam will become a wholly owned subsidiary of UMAX. UMAX Group Corp. (OTCPK:UMAX) completed the acquisition of Home Foam Corporation on November 23, 2020.