# EDGAR Filing Document

**Accession Number:** 0001261725
**File Stem:** 0001493152-23-006136
**Filing Date:** 2023-2
**Character Count:** 9589
**Document Hash:** 49f38b6965f90436e6c916a1a95a228c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-006136.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001493152-23-006136

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230223

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Chan Heng Fai Ambrose
- **CENTRAL INDEX KEY:** 0001261725

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-53537
- **FILM NUMBER:** 23678123

**MAIL ADDRESS:**
- **STREET 1:** 2601 INSLAND PLACE TOWER
- **STREET 2:** 510 KINGS RD N POINT
- **CITY:** HONG KONG
- **STATE:** K3
- **ZIP:** 999999999

**FORMER NAME:**
- **FORMER CONFORMED NAME:** CHAN FAI
- **DATE OF NAME CHANGE:** 20030828
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** GigWorld Inc.
- **CENTRAL INDEX KEY:** 0001600347
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-53537
- **FILM NUMBER:** 23678122

**BUSINESS ADDRESS:**
- **STREET 1:** 4800 MONTGOMERY LANE
- **STREET 2:** SUITE 450
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814
- **BUSINESS PHONE:** 301-971-3940

**MAIL ADDRESS:**
- **STREET 1:** 4800 MONTGOMERY LANE
- **STREET 2:** SUITE 450
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814

**FORMER NAME:**
- **FORMER CONFORMED NAME:** HotApp Blockchain Inc.
- **DATE OF NAME CHANGE:** 20180104

**FORMER NAME:**
- **FORMER CONFORMED NAME:** HotApp Blockchain, Inc.
- **DATE OF NAME CHANGE:** 20180104

**FORMER NAME:**
- **FORMER CONFORMED NAME:** HotApp International, Inc.
- **DATE OF NAME CHANGE:** 20141209
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Value Exchange International, Inc.
- **CENTRAL INDEX KEY:** 0001417664
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MISCELLANEOUS BUSINESS SERVICES [7380]
- **IRS NUMBER:** 263767331
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** UNIT 602 6/F BLOCK R
- **STREET 2:** SHATIN INDUSTRIAL CENTRE 5-7 SHUN CIR.
- **CITY:** HONG KONG
- **STATE:** K3
- **ZIP:** NONE
- **BUSINESS PHONE:** 852 2950 4288

**MAIL ADDRESS:**
- **STREET 1:** UNIT 602 6/F BLOCK R
- **STREET 2:** SHATIN INDUSTRIAL CENTRE 5-7 SHUN CIR.
- **CITY:** HONG KONG
- **STATE:** K3
- **ZIP:** NONE

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SINO PAYMENTS, INC.
- **DATE OF NAME CHANGE:** 20090804

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Sino Payments, Inc.
- **DATE OF NAME CHANGE:** 20081202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** China Soaring Inc.
- **DATE OF NAME CHANGE:** 20071106

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Chan Heng Fai Ambrose<br><sub>(Last) (First) (Middle)</sub><br>7 TEMASEK BOULEVARD #29-01B<br>SUNTEC TOWER ONE<br><sub>(Street)</sub><br>SINGAPORE, U0 038987<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-23 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Value Exchange International, Inc. [ VEII ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>GigWorld Inc.<br><sub>(Last) (First) (Middle)</sub><br>4800 MONTGOMERY LANE<br>SUITE 210<br><sub>(Street)</sub><br>BETHESDA, MD 20814<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-23 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Value Exchange International, Inc. [ VEII ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Convertible Debt | 0.11<sup>(1)</sup> | 2023-02-23 |  | P |  | 12727272 |  | 2023-02-23<sup>(1)</sup> | 2026-02-23 | Common Stock | 12727272<sup>(1)</sup> | 0.11<sup>(1)</sup> | 12727272<sup>(1)</sup> | I | See footnote<sup>(2)</sup> |

---

### Footnotes:

(1) Refer Remark.

(2) Held by GigWorld. GigWorld's majority shareholder is Alset Inc. ("Alset"). Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset, and the Chairman and Chief Executive Officer of Alset. The Reporting Person has dispositive control over these securities.

**Remarks:**
Value Exchange International, Inc. ("VEII") entered into a Convertible Credit Agreement, dated as of January 27, 2023 ("Convertible Credit Agreement") with GigWorld Inc. ("GigWorld") and another potential lender. On February 23, 2023, GigWorld loaned VEII $1,400,000 (the "Loan Amount"). The Loan Amount can be converted into shares of VEII pursuant to the terms of the Convertible Credit Agreement for a period of three years. In the event that GigWorld converts this Loan Amount into shares of VEII Common Stock, the conversion price (the "Conversion Price") shall be the average closing price of VEII's Common Stock as quoted by Bloomberg Financial Markets (or a comparable reporting service of national reputation selected by VEII and reasonably acceptable to GigWorld if Bloomberg Financial Markets is not then reporting prices of VEII Common Stock) for the three (3) consecutive trading days prior to date of the notice of conversion delivered by GigWorld. For the purposes of estimating an exercise price, we assumed the closing price of VEII's shares of Common Stock on February 27, 2023: $0.11.

**Signature:** /s/ Heng Fai Ambrose Chan  
**Date:** 2023-02-27

**Signature:** /s/ GigWorld Inc. by Lui Wai Leung, Alan, Chief Financial Officer  
**Date:** 2023-02-27

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**