QDM Holdings Limited entered into a share exchange agreement to acquire QDM International Inc. (OTCPK:QDMI) in a reverse merger transaction for $8.4 million on October 21, 2020. As a part of transaction, QDM International Inc. will issue 900,000 shares of a newly designated Series C Convertible Preferred Stock (the “Series C Preferred Shares”), with each Series C Preferred Share initially being convertible into 11 shares of our common stock (the “Common Stock”) to acquire all the issued and outstanding capital stock of QDM Holdings Limited.

QDM Holdings Limited completed the acquisition of QDM International Inc. (OTCPK:QDMI) in a reverse merger transaction on October 21, 2020.