Sterling Group Ventures (SGGV) Inactive

We were incorporated in the state of Nevada on September 13, 2001 and established a fiscal year end of May 31. Since our incorporation, we have engaged in the business of mining exploration and development. On January 20, 2004, Sterling completed the acquisition of all of the issued and outstanding shares of Micro Express Ltd. (“Micro”), which was incorporated on July 27, 1994 and engaged in exploration and development of Lithium. Pursuant to the transaction, the Company issued an aggregate of 25,000,000 shares of Sterling’s common stock to the stockholders of Micro in exchange for 100% of the outstanding shares of Micro’s common stock. The business combination was accounted for as a reverse acquisition whereby the purchase method of accounting was used with Micro being the accounting parent and the Company being the accounting subsidiary. The Company has since terminated the joint venture agreements related to the Lithium projects in 2011 as more fully described herein. On July 8, 2011, Sterling acquired a 90% interest in Chenxi County Hongyu Mining Co. Ltd. (“Hongyu”), and the other 10% of Hongyu was transferred to the nominees of Sterling. Pursuant to the transaction, Sterling issued 10,000,000 shares of its common stock to the existing Hongyu shareholders. On April 9, 2016 Sterling signed a Purchase and Sale Agreement (“the Agreement”) with Chenguo Capital Limited. Under the terms of the Agreement, Sterling issued 85,000,000 shares into escrow to be released upon transfer to Sterling of the Business Assets as described in that agreement, and provided $295,726 in working capital towards the development of a timeshare platform. On September 5, 2016 Sterling, Chenguo, and Sterling Group Ventures (HK) Ltd. signed a Settlement and Termination Agreement terminating the aforementioned Purchase and Sale Agreement. As part of the termination, Sterling Group Ventures (HK) Ltd. (formerly named Euro Asia Premier Realty (HK) Ltd.) has been sold back to Chenguo and the Company paid $16,090 to Sterling Group Ventures (HK) Ltd. for its expenses together with the sum of $7,750 to a third party for his expenses incurred in relation to Sterling Group Ventures HK Ltd. to expedite the termination. Any shares issued pursuant to the Agreement have been cancelled. All parties to the Termination Agreement agree not to sue any of the other parties for anything performed or not performed under the Agreement before or after the signing of the Termination Agreement. See Note 10 of the consolidated financial statements for more information. Given the Chenguo Agreement termination, we will be engaged in the search, exploration and development of phosphate and related minerals in China and other countries.