8-K 1 f8k080417_cleantechsolutions.htm CURRENT REPORT





WASHINGTON, D.C. 20549  





Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934 


Date of report (Date of earliest event reported): August 4, 2017  



(Exact name of registrant as specified in Charter)


Nevada   001-34591   90-0648920
(State or other jurisdiction of
incorporation or organization)
  (Commission File No.)   (IRS Employee
Identification No.)


No. 9 Yanyu Middle Road

Qianzhou Village, Huishan District, Wuxi City

Jiangsu Province, People’s Republic of China 

(Address of Principal Executive Offices)


(86) 51083397559

(Registrant’s Telephone number)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


Emerging growth company ☐


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐







Item 1.01 Entry into a Material Definitive Agreement.


On August 4, 2017, Cleantech Solutions International, Inc. (the “Company”) wholly-owned subsidiary, EC Power (Global) Technology Limited (“EC Power”), entered into a Transfer Agreement (the “Agreement”) with ECoin Global Limited (“ECoin”) to purchase ECoin Redemption Codes (the “Codes”) produced by ECoin. In accordance with the Agreement, EC Power will market the Codes, which contain a value that enables subscribers to upload certain number of items onto ECrent’s website, www.ecrent.com, for rental. The Codes to be transferred from ECoin to EC Power have a value of US$50 million. ECoin has agreed to transfer the Codes at a discounted price to EC Power at 40% of the face value of the Codes, namely, for a total consideration of US$20 million (the “Transfer Consideration”). The Codes have a validity period of four (4) years, and will not expire until August 3, 2021 (the “Expiry Date”). The Transfer Consideration will be paid by EC Power to ECoin in installments, with each installment payable not later than thirty (30) days after the end of December 31st in each calendar year. Each installment will represent an amount equal to 50% of the net sale proceeds of the Codes sold during each calendar year. The aggregate of installments shall not exceed the Transfer Consideration. Any balance outstanding of the Transfer Consideration at the Expiry Date will be paid and discharged by the issuance and delivery to ECoin of common stock of the Company in accordance with the terms of the Agreement.


The foregoing descriptions of the Agreement do not purport to be complete and are qualified in its entirety by reference to the complete text of the Agreement, which are incorporated herein by reference and attached hereto as Exhibit 10.1.


Item 9.01. Financial Statements and Exhibits.


(d) Exhibits


Exhibit No.   Description
10.1   Transfer Agreement, dated August 4, 2017







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.


Date: August 7, 2017 Cleantech Solutions International, Inc.
By: /s/ Jianhua Wu
    Jianhua Wu
    Chief Executive Officer