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Note 7. Subsequent Events

On March 13, 2012 (the “recapitalization date”), Â×ÀíÈý¼¶, Inc. acquired Â×ÀíÈý¼¶ University Inc., an operating company, in a reverse merger transaction accounted for as a recapitalization of Â×ÀíÈý¼¶ University Inc. (the “Recapitalization” or the “Reverse Merger”). The common and preferred stockholders of Â×ÀíÈý¼¶ University Inc. received 25,515,204 common shares of Â×ÀíÈý¼¶, Inc. in exchange for 100% of the capital stock of Â×ÀíÈý¼¶ University Inc. For accounting purposes, Â×ÀíÈý¼¶ University Inc. is the acquirer and Â×ÀíÈý¼¶, Inc. is the acquired company. Accordingly, after completion of the recapitalization, the historical operations of the Company are those of Â×ÀíÈý¼¶ University Inc. and the operations since the recapitalization date are those of Â×ÀíÈý¼¶ University Inc. and Â×ÀíÈý¼¶ Group, Inc. The assets and liabilities of both companies are combined at historical cost on the recapitalization date.

On April 26, 2012 and April 30, 2012, convertible notes payable aggregating $20,000 were converted into 20,000 common shares of the Company (See Note 3).