(1) These securities include (i) 8,498,765 shares of common stock issued by the Issuer to the Reporting Person and (ii) 1,699,753 shares of common stock issuable upon exercise at $1.69 per share of certain warrants issued by the Issuer to the Reporting Person pursuant to that certain securities purchase agreement dated as of September 20, 2015 between the Issuer and He Xie Ai Qi Investment Management (Beijing) Co., Ltd. By virtue of holding 100% of the equity interest of the Reporting Person, Snow Moon Limited may be deemed to have sole voting and dispositive power with respect to these shares. By virtue of holding 100% of the equity interest of Snow Moon Limited, Tianjin Jingran Management Center (Limited Partnership) may be deemed to have sole voting and dispositive power with respect to these shares. By virtue of being the general partner of Tianjin Jingran Management Center (Limited Partnership), He Xie Ai Qi Investment Management (Beijing) Co., Ltd. may be deemed to have sole voting and dispositive power with respect to these shares. By virtue of being the shareholders and/or directors of He Xie Ai Qi Investment Management (Beijing) Co., Ltd., Jianguang Li, Dongliang Lin, Fei Yang and Hugo Shong may be deemed to have shared voting and dispositive power with respect to these shares.

(2) Percentage calculated based on 61,896,327 total outstanding shares of the common stock of the Issuer, which includes 1,699,753 shares of common stock issuable upon exercise of the warrants owned by the Reporting Person. 

(1) The record owner of these shares is Sparkle Byte Limited. By virtue of holding 100% of the equity interest of Sparkle Byte Limited, the Reporting Person may be deemed to have sole voting and dispositive power with respect to these shares. By virtue of holding 100% of the equity interest of the Reporting Person, Tianjin Jingran Management Center (Limited Partnership) may be deemed to have sole voting and dispositive power with respect to these shares. By virtue of being the general partner of Tianjin Jingran Management Center (Limited Partnership), He Xie Ai Qi Investment Management (Beijing) Co., Ltd. may be deemed to have sole voting and dispositive power with respect to these shares. By virtue of being the shareholders and/or directors of He Xie Ai Qi Investment Management (Beijing) Co., Ltd., Jianguang Li, Dongliang Lin, Fei Yang and Hugo Shong may be deemed to have shared voting and dispositive power with respect to these shares.

(2) Percentage calculated based on 61,896,327 total outstanding shares of the common stock of the Issuer, which includes 1,699,753 shares of common stock issuable upon exercise of the warrants owned by Sparkle Byte Limited. 

(1) The record owner of these shares is Sparkle Byte Limited. By virtue of holding 100% of the equity interest of Snow Moon Limited, which in turn holds 100% of the equity interest of Sparkle Byte Limited, the Reporting Person may be deemed to have sole voting and dispositive power with respect to these shares. By virtue of being the general partner of the Reporting Person, He Xie Ai Qi Investment Management (Beijing) Co., Ltd. may be deemed to have sole voting and dispositive power with respect to these shares. By virtue of being the shareholders and/or directors of He Xie Ai Qi Investment Management (Beijing) Co., Ltd., Jianguang Li, Dongliang Lin, Fei Yang and Hugo Shong may be deemed to have shared voting and dispositive power with respect to these shares.

(2) Percentage calculated based on 61,896,327 total outstanding shares of the common stock of the Issuer, which includes 1,699,753 shares of common stock issuable upon exercise of the warrants owned by Sparkle Byte Limited. 

(1) The record owner of these shares is Sparkle Byte Limited. By virtue of holding 100% of the equity interest of Snow Moon Limited, which in turn holds 100% of the equity interest of Sparkle Byte Limited, Tianjin Jingran Management Center (Limited Partnership) may be deemed to have sole voting and dispositive power with respect to these shares. By virtue of being the general partner of Tianjin Jingran Management Center (Limited Partnership), the Reporting Person may be deemed to have sole voting and dispositive power with respect to these shares. By virtue of being the shareholders and/or directors of the Reporting Person, Jianguang Li, Dongliang Lin, Fei Yang and Hugo Shong may be deemed to have shared voting and dispositive power with respect to these shares.

(2) Percentage calculated based on 61,896,327 total outstanding shares of the common stock of the Issuer, which includes 1,699,753 shares of common stock issuable upon exercise of the warrants owned by Sparkle Byte Limited.

(1) Sparkle Byte Limited is the record owners of these shares. The Reporting Person is a 12.5% shareholder and one of the three directors of He Xie Ai Qi Investment Management (Beijing) Co., Ltd, the general partner of Tianjin Jingran Management Center (Limited Partnership). Tianjin Jingran Management Center (Limited Partnership) holds 100% equity interest of Snow Moon Limited, which in turn holds 100% equity interest of Sparkle Byte Limited. By virtue of this affiliation, the Reporting Person may be deemed to share voting and dispositive power with respect to these shares.

(2) Percentage calculated based on 61,896,327 total outstanding shares of the common stock of the Issuer, which includes 1,699,753 shares of common stock issuable upon exercise of the warrants owned by Sparkle Byte Limited.

(1) Sparkle Byte Limited is the record owners of these shares. The Reporting Person is a 43.75% shareholder and one of the three directors of He Xie Ai Qi Investment Management (Beijing) Co., Ltd, the general partner of Tianjin Jingran Management Center (Limited Partnership). Tianjin Jingran Management Center (Limited Partnership) holds 100% equity interest of Snow Moon Limited, which in turn holds 100% equity interest of Sparkle Byte Limited. By virtue of this affiliation, the Reporting Person may be deemed to share voting and dispositive power with respect to these shares.

(2) Percentage calculated based on 61,896,327 total outstanding shares of the common stock of the Issuer, which includes 1,699,753 shares of common stock issuable upon exercise of the warrants owned by Sparkle Byte Limited.

(1) Sparkle Byte Limited is the record owners of these shares. The Reporting Person is a 43.75% shareholder of He Xie Ai Qi Investment Management (Beijing) Co., Ltd, the general partner of Tianjin Jingran Management Center (Limited Partnership). Tianjin Jingran Management Center (Limited Partnership) holds 100% equity interest of Snow Moon Limited, which in turn holds 100% equity interest of Sparkle Byte Limited. By virtue of this affiliation, the Reporting Person may be deemed to share voting and dispositive power with respect to these shares.

(2) Percentage calculated based on 61,896,327 total outstanding shares of the common stock of the Issuer, which includes 1,699,753 shares of common stock issuable upon exercise of the warrants owned by Sparkle Byte Limited.

(1) Sparkle Byte Limited is the record owners of these shares. The Reporting Person is one of the three directors of He Xie Ai Qi Investment Management (Beijing) Co., Ltd, the general partner of Tianjin Jingran Management Center (Limited Partnership). Tianjin Jingran Management Center (Limited Partnership) holds 100% equity interest of Snow Moon Limited, which in turn holds 100% equity interest of Sparkle Byte Limited. By virtue of this affiliation, the Reporting Person may be deemed to share voting and dispositive power with respect to these shares.

(2) Percentage calculated based on 61,896,327 total outstanding shares of the common stock of the Issuer, which includes 1,699,753 shares of common stock issuable upon exercise of the warrants owned by Sparkle Byte Limited.

Introductory Note

This Amendment No. 2 to Schedule 13D (this “Amendment No. 2”) amends and supplements the previous Schedule 13D filed by the Reporting Persons with the SEC on January 25, 2016, as amended by Amendment No. 1 to Schedule 13D filed by the Reporting Persons with the SEC on June 30, 2016 (the “Original Schedule 13D”). This Amendment No. 2 is being filed to reflect that Suyang Zhang ceased to be a shareholder of He Xie Ai Qi and that the shareholdings in He Xie Ai Qi by Dongliang Lin, Fei Yang and Jianguang Li changed to 43.75%, 43.75% and 12.5%, respectively. Except as amended and supplemented herein, the information set forth in the Original Schedule 13D remains unchanged. Capitalized terms used herein have meanings as assigned thereto in the Original Schedule 13D unless defined herein.

Item 2. Identity and Background

Item 2 of the Original Schedule 13D is hereby amended and supplemented by replacing the fourth to last paragraph thereof in its entirety with the following:

As of the date hereof, Sparkle Byte is wholly owned by Snow Moon, which is in turn wholly owned by Tianjin Jingran. The general partner of Tianjing Jingran is He Xie Ai Qi. Prior to June 2, 2016, Jianguang Li, Dongliang Lin, Fei Yang and Suyang Zhang each owned 25% of the equity interest in He Xie Ai Qi. On June 2, 2016, Dongliang Lin and Fei Yang made additional capital contributions to He Xie Ai Qi and brought their shareholdings in He Xie Ai Qi to 37.5% each, with Jianguang Li’s and Suyang Zhang’s holdings decreasing to 12.5% each. On July 27, 2016, Suyang Zhang transferred all the equity interest he held in He Xie Ai Qi to Dongliang Lin and Fei Yang. As a result of such transactions, Suyang Zhang has ceased to be a shareholder of He Xie Ai Qi, and Dongliang Lin, Fei Yang and Jianguang Li hold 43.75%, 43.75% and 12.5%, respectively, of the equity interest in He Xie Ai Qi.

Item 5. Interest in Securities of the Issuer

Item 5 of the Original Schedule 13D is hereby amended and supplemented by replacing Item 5(a), Item 5(b) and Item 5(e) thereof in their entirety with the following:

(a) As of the date hereof, Sparkle Byte directly beneficially owns 8,498,765 shares of the Common Stock, representing 13.7% of the Issuer’s issued and outstanding Common Stock. In addition, Sparkle Byte directly beneficially owns warrants that entitle Sparkle Byte to acquire 1,699,753 shares of the Common Stock at an exercise price of $1.69 per share of the Common Stock. As of the date hereof, the Common Stock issuable pursuant to the warrants represents 2.8% of the Issuer’s issued and outstanding Common Stock.

Snow Moon may be deemed to have voting and dispositive power with respect to and have beneficial ownership of 8,498,765 shares of the Common Stock owned by Sparkle Byte and 1,699,753 shares of the Common Stock issuable pursuant to the warrants owned by Sparkle Byte, representing 13.7% and 2.8%, respectively, of the Issuer’s issued and outstanding Common Stock.

Tianjin Jingran may be deemed to have voting and dispositive power with respect to and have beneficial ownership of 8,498,765 shares of the Common Stock owned by Sparkle Byte and 1,699,753 shares of the Common Stock issuable pursuant to the warrants owned by Sparkle Byte, representing 13.7% and 2.8%, respectively, of the Issuer’s issued and outstanding Common Stock.

He Xie Ai Qi may be deemed to have voting and dispositive power with respect to and have beneficial ownership of 8,498,765 shares of the Common Stock owned by Sparkle Byte and 1,699,753 shares of the Common Stock issuable pursuant to the warrants owned by Sparkle Byte, representing 13.7% and 2.8%, respectively, of the Issuer’s issued and outstanding Common Stock.

As a result of the relationships described in the cover pages of this Amendment No. 2, each of Jianguang Li, Dongliang Lin, Fei Yang, and Hugo Shong may be deemed to share beneficial ownership of 10,198,518 shares of the Common Stock, representing 16.5% of the Issuer’s issued and outstanding Common Stock.

Neither the filing of this Amendment No. 2 by the Reporting Persons nor any of its contents shall be deemed to constitute an admission by any of such persons, other than Sparkle Byte, that it is the beneficial owner of any of the shares of the Common Stock referred to herein for purposes of the Securities Exchange Act of 1934, or for any other purpose, and such beneficial ownership is expressly disclaimed.

(b) Each of Sparkle Byte, Snow Moon, Tianjin Jingran and He Xie Ai Qi may be deemed to have the sole power to direct the vote and the disposition of the Common Stock that may be deemed to be beneficially owned by

each of them. Each of Jianguang Li, Dongliang Lin, Fei Yang and Hugo Shong may be deemed to have the shared power to direct the vote and the disposition of the Common Stock that may be deemed to be beneficially owned by each of them.

(e) Suyang Zhang ceased to be a shareholder of He Xie Ai Qi on July 27, 2016 and as a result ceased to be the beneficial owner of more than five percent of the Common Stock of the Issuer.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

INDEX TO EXHIBITS

(1) Filed previously.