Astika Holdings Inc. (OTCBB:ASKH) signed a letter of intent to acquire Nantong Dredging Machinery CO., Ltd on February 20, 2014. The parties have agreed that the acquisition will not engage in any negotiations or discussions with other potential acquirers and have also agreed to maintain the confidentiality of all of the acquisition. As of March 13, 2014, the acquisition is expected to be completed by the end of March 2014. As of April 24, 2014, Astika Holdings, Inc. is finalizing the acquisition of Nantong Dredging Machinery CO. Ltd.

The completion of the acquisition is dependent on the completion of due diligence satisfactory to Astika Holdings Inc and the completion of the PCAOB audit under US GAAP.