The Company has evaluated subsequent events through the date which the condensed consolidated financial statements were available to be issued.

On April 13, 2017, when the closing market price of our stock was $17.36, we entered into an agreement to purchase all of the capital shares of Ebonex IPR Limited, a company registered in England and Wales. Ebonex IPR Limited is a pre-revenue IP-based company that has developed patented technology in the field of advanced materials and manufacturing methods for advanced lead acid batteries. In consideration of our acquisition of all of the capital shares of Ebonex IPR Limited, we paid $100,000 in cash and issued 123,776 shares of our common stock. The agreement contains customary representations, warranties and indemnities.