Alenax was incorporated in China on February 22, 2005.

We engaged with Alenax for the business of developing, marketing, and manufacturing a line of Alenax- bicycles including Alenax-Exercise Bicycle, Alenax -Electric Bicycle, and Alenax-Wheelchair (collectively "Alenax-Product"). The technology applied at our Alenax Product is called Natural Motion Technology ("NMT"), which we are exclusively licensed from ABL Properties Company, a company jointly owned by Mr. Byung Yim, our President and Chief Executive Officer, his family members and other individuals.

The characteristics of the NMT are similar to that used in a stepper machine, which allows the users of our...