Description of Oral Loan Agreement betweenConsumer Capital Group and Jianmin Gao
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EX-10.31 4 v306550_ex10-31.htm
EXHIBIT 10.31
Description of Oral Loan Agreement between Consumer Capital Group and Jianmin Gao
Party A: Consumer Capital Group
Party B: Jianmin Gao
Party A and B are related parties, with Party B as the CEO and CFO of Party A. Party A and B negotiated and agreed that Party B shall provide Party A operating or working capital during Party A’s production operations. Party A shall pay no interests as a result of this loan arrangement to Party B. Party A shall provide no assets as a security for the loan received from Party B under this agreement. Party A shall pay the amount of the loan upon Mr. Gao’s request.
This Agreement is valid during the operational period of Party A.
