COMMITMENTS AND CONTINGENCIES

9 Months Ended

12 Months Ended

Jun. 30, 2016

Sep. 30, 2015

COMMITMENTS AND CONTINGENCIES

10. COMMITMENTS AND CONTINGENCIES

Capital Commitment

On December 29, 2015, the Company entered into the agreement with Biolite, a related party, that Biolite would grant the Company sole licensing rights of a series of technology for 10 years. The total consideration of obtaining such grant would be $100,000,000. As of June 30, 2016, $3,500,000 was paid to BioLite as the prepayment.

Metu Brands, Inc [Member]

COMMITMENTS AND CONTINGENCIES

Note 5 — Commitments and Contingencies

Contingencies.

All contingencies have been settled through our bankruptcy petition in September 2014 subsequent to this financial reporting period.

Lease Commitments.

None.