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CLNT > SEC Filings for CLNT > Form 8-K on 17-Jun-2016All Recent SEC Filings




Entry into a Material Definitive Agreement, Regulation F

Item 1.01 Entry into a Material Definitive Agreement

On June 13, 2016, Wuxi Huayang Dyeing Machinery Co., Ltd., a variable interest entity whose financial statements are included in the Company's consolidated financial statements, entered into an agreement with Chengdu Textile College pursuant to which Huayang Dyeing will make a one-time payment of RMB 16.0 million, which is approximately $2,500,000, to Chengdu Textile College for which it will receive title to a utility model patent covering ozone-ultrasonic textile dyeing equipment. Patent No. 201520850086.7 was issued on April 20, 2016 by China's State Intellectual Property Office and is valid for ten years from the date of issuance.

Item 7.01 Regulation FD Disclosure.

On June 16, 2016, the Company issued a press release announcing the agreement with Chengdu Textile College. A copy of the press release is included as Exhibit 99.1.

In accordance with General Instruction B.2 of Form 8-K, the information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any of the Company's filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except to the extent expressly set forth by specific reference in such a filing.

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