UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On January 13, 2025, JAAG Enterprises Limited (the "Company") entered into a Memorandum of Understanding ("MOU") with a Hong Kong registered company, Elegant Gift Shop Company Limited. The MOU outlines the terms and understanding between the parties for the distribution of uniform garments in Hong Kong and the use of AI technology to design a special logo for the uniforms. Elegant Gift Shop Company Limited specializes in retailing various gift items and is one of the leaders in the industry for tailor-made gift items. Their clients include chains of catering restaurants and retail shop companies in the Asia-Pacific region.
Purpose and Scope:
JAAG Enterprises Limited will supply and deliver uniform garments to Elegant Gift Shop Company Limited.
Elegant Gift Shop Company Limited will market, display, and sell the uniform garments in their retail locations in Hong Kong.
Both parties will collaborate to use AI technology to design a special logo for the uniforms.
Financial Arrangements:
JAAG Enterprises Limited will invoice Elegant Gift Shop Company Limited on a monthly basis for uniform garments supplied. Payment terms are net 30 days from the date of invoice.
Item 8.01 Other Events.
The Company believes that this collaboration with Elegant Gift Shop Company Limited is significant as it allows for market expansion in Hong Kong, potentially generating additional revenue and enhancing the Company's strategic partnerships. The use of AI technology to design a special logo for the uniforms also demonstrates the Company's commitment to innovation.
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Signatures
Pursuant 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.
| Jaag Enterprises, Ltd. | |||
| January 14, 2025 | By: | /s/ Peng Wu | |
| Peng Wu, Chief Executive Officer | |||
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