Skillful Craftsman Education Technology Ltd

Skillful Craftsman Education Technology Ltd announced its definitive agreement to acquire a 70% controlling interest in URAY PTE. LTD., a Singapore-based casual game developer and publisher. URAY will become a consolidated subsidiary of Skillful Craftsman upon closing. The consideration includes 500,000 restricted ordinary shares of Skillful Craftsman and up to US$2 million in shareholder loans. The acquisition is expected to expand Skillful Craftsman's AI applications into interactive digital content and game creation, leveraging URAY's decade-long experience in the casual games market and its AI toolset, SMILE AI. The transaction is anticipated to close in the fourth quarter of 2026.

Skillful Craftsman Education Technology Ltd's subsidiary, Skilland Digital Intelligence Limited, has entered into an AI Technology Service and Development Training Agreement with Souche Holdings Ltd. Under the one-year agreement, Skilland Digital will provide AI-based training and support services for Souche Holdings' overseas development personnel. The services include market analysis, data insights, and strategy support, with a monthly fee of HK$150,000, approximately $19,230 USD.

Skillful Craftsman Education Technology Ltd announced the establishment of Skilland Digital Intelligence Limited, a wholly-owned subsidiary in Hong Kong. This strategic move aims to expand the company's international presence and pursue new growth opportunities. Skilland Digital will focus on software development, artificial intelligence technology services, API interface services, and related product sales, serving as a gateway to international markets.

Skillful Craftsman Education Technology Ltd entered into a Second Amendment Agreement to its Promissory Note Purchase Agreement. This amendment extends the maturity date of certain promissory notes by six months, from March 31, 2026, to September 30, 2026. The agreement was made with major shareholder Mr. Xuejun Ji, director Mr. Peng Wang, and Chairman/CEO Mr. Bin Fu, with the entire outstanding principal and accrued interest due on the new maturity date.

Skillful Craftsman Education Technology Ltd announced that its Audit Committee approved the engagement of Guangdong Prouden CPAs GP as the company's new independent registered public accounting firm, effective June 25, 2026. The company confirmed that there were no disagreements with the former auditor, HTL International, LLC, regarding accounting principles or practices, nor any reportable events, other than material weaknesses previously disclosed. Furthermore, the company had no prior consultations with Prouden CPAs on accounting or auditing matters.

Skillful Craftsman Education Technology Ltd entered into a new Employment Agreement with its Chief Executive Officer, Mr. Bin Fu, effective May 1, 2026. The agreement sets a one-year term for Mr. Fu's service as CEO. Under the terms, Mr. Fu will receive an annual salary of $1 and will be eligible for an annual cash bonus at the Board's sole discretion.