Item 3.02 Unregistered Sales of Equity Securities.
On September 17, 2012, China Recycling Energy Corporation (the "Company") issued
3,750,000 shares of Common Stock of the Company to Great Essential Investment,
Ltd., a company registered in the Virgin Islands ("Great Essential"), upon
receipt of Great Essential's conversion notice of the Company's 8% Secured
Convertible Promissory Note dated April 29, 2009 in the principal amount of
$3,000,000 at the stated conversion price per share of $0.8.
The issuance of shares to Great Essential was made in reliance on the exemptions
from registration provided by (i) Section 4(2) of the Securities Act of 1933, as
amended (the "Securities Act") as a transaction by an issuer not involving any
public offering and (ii) Regulation S under the Securities Act.
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