NMHIW Natures Miracle Holding Inc

 

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

 

SCHEDULE 13D/A

 

Under the Securities Exchange Act of 1934 (Amendment No. 1)*

 

Nature’s Miracle Holding Inc.

(Name of Issuer)

 

Common Stock

(Title of Class of Securities)

 

63903P 100

(CUSIP Number)

 

Tie (James) Li Nature’s Miracle Holding Inc. 3281 E. Guasti Road, Suite 175 Ontario, CA 91761 (909) 218-4601

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

November 19, 2024

(Date of Event which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ☐.

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See 240.13d-7(b) for other parties to whom copies are to be sent.

 

*	The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

SCHEDULE 13D/A

 

1	NAMES OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
	Tie (James) Li
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
	(a) ☐ (b) ☐
3	SEC USE ONLY
4	SOURCE OF FUNDS (See Instructions)
	OO
5	CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
	☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION
	United States

NUMBER OF SHARES BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER
		12,955,248
	8	SHARED VOTING POWER
		0
	9	SOLE DISPOSITIVE POWER
		12,955,248
	10	SHARED DISPOSITIVE POWER
		0

11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	12,955,248
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)
	☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	16.0%(1)
14	TYPE OF REPORTING PERSON (See Instructions)
	IN

(1)	Based on 81,197,668 shares of the Issuer’s common stock issued and outstanding as of November 20, 2024.

  

 

Explanatory Note

 

This Amendment No. 1 to Schedule 13D (this “Amendment”) hereby amends and supplements the initial Schedule 13D filed with the Securities and Exchange Commission on July 9, 2024 (the “Original Schedule 13D”).

 

Except as amended and supplemented herein, the information set forth in the Original Schedule 13D remains in effect, and capitalized terms used but not defined herein have the meanings assigned thereto in the Original Schedule 13D.

 

Item 3.

Source and Amount of Funds or Other Considerations

 

Item 3 of the Original Schedule 13D is hereby amended and supplemented by adding the following at the end thereof:

 

On November 19, 2024, Mr. Li entered into a debt-to-equity conversion agreement (the “Debt to Equity Conversion Agreement”) with the Company, Visiontech Group, Inc. (“Visiontech”), Uninet Global Inc. (“Uninet”), Nature’s Miracle, Inc. (“NMHI (DE)”), Nature’s Miracle Inc. (“NMHI (Cayman)”) and Zhiyi Zhang. NMHI (DE) owed NMHI (Cayman) a total of $684,739, of which NMHI (Cayman) assigned $577,500 to Mr. Li. Mr. Li converted this assigned debt into 6,562,500 shares of the Company’s common stock at a conversion price of $0.088 per share.

 

The foregoing description of the Debt to Equity Conversion Agreement does not purport to be complete and is qualified in its entirety by the full text of such agreement, which is attached as an exhibit to this Schedule 13D/A and incorporated by reference.

 

Item 5.

Interest in Securities of the Issuer

 

Item 5 of the Original Schedule 13D is hereby amended and replaced in its entirety as follows: 

 

(a) – (b)

 

The following sets forth, as of the date of this Schedule 13D, the aggregate number of shares of Common Stock and percentage of Common Stock beneficially owned by each of the Reporting Person, as well as the number of shares of Common Stock as to which each Reporting Person has the sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition of, or shared power to dispose or to direct the disposition of, as of the date hereof, based on 81,197,668 shares of the Issuer’s Common Stock issued and outstanding as of November 20, 2024:

 

Reporting Person		Amount beneficially owned				Percent of class				Sole power to vote or to direct the vote				Shared power to vote or to direct the vote				Sole power to dispose or to direct the disposition				Shared power to dispose or to direct the disposition
Tie (James) Li			12,955,248				16.0	%			12,955,248				0				12,955,248				0

  

(c)	Except as disclosed in this Statement, the Reporting Person did not effect any transaction with respect to Common Stock during the past 60 days.

 

(d)

Except as disclosed in this Statement, to the best knowledge of the Reporting Person, no person other than the Reporting Person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock beneficially owned by the Reporting Person.

 

(e)	Not applicable.

 

 

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

 

Item 6 of the Original Schedule 13D is hereby amended and supplemented by adding the following at the end thereof:

 

Debt to Equity Conversion Agreement

 

On November 19, 2024, Mr. Li entered into that certain Debt to Equity Conversion Agreement with the Company, Visiontech, Uninet, NMHI (DE), NMHI (Cayman) and Zhiyi Zhang. NMHI (DE) owed NMHI (Cayman) a total of $684,739, of which NMHI (Cayman) assigned $577,500 to Mr. Li. Mr. Li converted this assigned debt into 6,562,500 shares of the Company’s common stock at a conversion price of $0.088 per share.

 

The foregoing description of the Debt to Equity Conversion Agreement does not purport to be complete and is qualified in its entirety by the full text of such agreement, which is attached as an exhibit to this Schedule 13D/A and incorporated by reference.

 

 

Item 7.

Material to Be Filed as Exhibits

 

Item 7 of the Original Schedule 13D is hereby amended and restated in its entirety as follows:

 

Exhibit Number		Description
2.1		Merger Agreement dated September 9, 2022 (incorporated by reference to Exhibit 2.1 to the Company’s Registration Statement on S-4/A (File No. 333-268343) filed with the SEC on January 26, 2024).
2.2		Amendment No. 1 to Merger Agreement, dated as of June 7, 2023 (incorporated by reference to Exhibit 2.2 to the Company’s Registration Statement on S-4/A (File No. 333-268343) filed with the SEC on January 26, 2024).
2.3		Amendment No. 2 to Merger Agreement, dated as of December 8, 2023 (incorporated by reference to Exhibit 2.3 to the Company’s Registration Statement on S-4/A (File No. 333-268343) filed with the SEC on January 26, 2024).
10.1		Form of Loan Agreement (incorporated by reference to Exhibit 10.1 to Lakeshore’s Current Report on Form 8-K filed with the Securities & Exchange Commission on July 12, 2023)
10.2		Form of Purchaser Support Agreement (incorporated by reference to Exhibit 10.1 to Lakeshore’s Current Report on Form 8-K filed with the Securities & Exchange Commission on September 12, 2022)
10.3		Form of Voting and Support Agreement (incorporated by reference to Exhibit 10.2 to Lakeshore’s Current Report on Form 8-K filed with the Securities & Exchange Commission on September 12, 2022)
10.4		Form of Lock-Up Agreement (incorporated by reference to Exhibit 10.3 to Lakeshore’s Current Report on Form 8-K filed with the Securities & Exchange Commission on September 12, 2022)
10.5		Employment Agreement (incorporated by reference to Exhibit 10.7 to Lakeshore’s Current Report on Form 8-K filed with the Securities & Exchange Commission on September 12, 2022)
10.6		Standby Equity Purchase Agreement dated April 10, 2023 (incorporated by reference to Exhibit 10.1 to Lakeshore’s Current Report on Form 8-K filed with the Securities & Exchange Commission on April 11, 2023)
10.7		Amendment No. 1 to Standby Equity Purchase Agreement dated June 12, 2023 (incorporated by reference to Exhibit 10.1 to Lakeshore’s Current Report on Form 8-K filed with the Securities & Exchange Commission on June 14, 2023).
10.8		Amendment No. 2 to Standby Equity Purchase Agreement dated December 11, 2023 (incorporated by reference to Exhibit 10.1 to Lakeshore’s Current Report on Form 8-K filed with the Securities & Exchange Commission on December 22, 2023).
10.9		Form of Non-Competition and Non-Solicitation Agreement (incorporated by reference to Exhibit 10.4 to Company’s Current Report on Form 8-K filed with the Securities & Exchange Commission on March 15, 2024)
10.10		Form of Voting Agreement (incorporated by reference to Exhibit 10.5 to Lakeshore’s Current Report on Form 8-K filed with the Securities & Exchange Commission on September 12, 2022)
10.11		Registration Rights Agreement dated as of March 11, 2024, by and between the Company and each party listed under Holder on the signature pages thereto (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on 8-K, filed with the SEC on March 15, 2024).
10.12		Debt to Equity Conversion Agreement dated November 19, 2024.

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: November 21, 2024	/s/ Tie (James) Li
	Tie (James) Li

 

 

6

Exhibit 10.12

 

DEBT TO EQUITY CONVERSION AGREEMENT

 

THIS DEBT TO EQUITY CONVERSION AGREEMENT (this “Agreement”) is entered into and made effective as of November 19 , 2024, by and between NATURE’S MIRACLE HOLDING INC., a Delaware corporation (“Company”), VISIONTECH GROUP, INC., a California corporation (“Visiontech”), UNINET GLOBAL INC. (“Uninet”), NATURE’S MIRACLE, INC., a Delaware corporation and wholly owned subsidiary of the Company (“NMHI (DE)”), NATURE’S MIRACLE INC., a Cayman Islands exempted company (“NMHI (Cayman)”), TIE (JAMES) LI, an individual (“Li”), and ZHIYI ZHANG, an individual (“Zhang”).

 

WHEREAS, Visiontech currently owes Uninet an outstanding trade payable in the amount equal to Five Hundred Seventy-Seven Thousand Five Hundred Dollars ($577,500) as of September 30, 2024 (the “Visiontech Debt”);

 

WHEREAS, Uninet agrees to assign Five Hundred Seventy-Seven Thousand Five Hundred Dollars ($577,500) (the “Assigned Visiontech Debt”) of the Visiontech Debt to Zhang, who agrees to convert the Assigned Visiontech Debt to 6,562,500 shares (the “Zhang Shares”) of common stock, par value $0.0001 per share, of the Company (“Common Stock”), at a conversion price of $0.088 per share, which is not less than the Nasdaq “Minimum Price” and based on the closing price of $0.088 as of 11/19/2024;

 

WHEREAS, NMHI (DE) owes NMHI (Cayman) a total of Six Hundred Eight-Four Thousand Seven Hundred Thirty-Nine Dollars ($684,739) (the “NMHI (DE) Debt”);

 

WHEREAS, NMHI (Cayman) agrees to assign Five Hundred Seventy-Seven Thousand Five Hundred Dollars ($577,500) (the “Assigned NMHI (DE) Debt”) of the NMHI (DE) Debt to Li, who agrees to convert the Assigned NMHI (DE) Debt to 6,562,500 shares (the “Li Shares”) of common stock, par value $0.0001 per share, of the Company (“Common Stock”), at a conversion price of $ 0.088 per share, which is not less than the Nasdaq “Minimum Price” and based on the closing price of $0.088 as of 11/19/2024;

 

WHEREAS, the unassigned portion of the NMHI (DE) Debt, or One Hundred Seven Thousand Two Hundred Ninety-Three Dollars ($107,293), shall remain outstanding.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

1. Assignment of Debt; Conversion to Common Stock.

 

(a) Uninet hereby assigns, transfers, and conveys to Zhang all of its right, title, and interest in and to the Assigned Visiontech Debt, including all claims and rights arising from or relating to the Assigned Visiontech Debt (the “Visiontech Debt Assignment”), and Zhang hereby accepts the Visiontech Debt Assignment. Upon the Visiontech Debt Assignment, the Company shall instruct its transfer agent to issue to Zhang a total of five million nine hundred ten thousand and nine hundred fifty two (6,562,500) shares of Common Stock at a cost basis equal to $0.088 per share in exchange for Zhang extinguishing and canceling the Assigned Visiontech Debt and, upon the issuance of the Zhang Shares to Zhang and extinguishment and cancelation of the Assigned Visiontech Debt, Visiontech shall be released from any and all obligations related to the Assigned Visiontech Debt

 

 

(b) NMHI (Cayman) hereby assigns, transfers, and conveys to Li all of its right, title, and interest in and to the Assigned NMHI (DE) Debt, including all claims and rights arising from or relating to the Assigned NMHI (DE) Debt (the “NMHI (DE) Debt Assignment”), and Li hereby accepts the NMHI (DE) Debt Assignment. Upon the NMHI (DE) Debt Assignment, the Company shall instruct its transfer agent to issue to Li a total of five million nine hundred ten thousand and nine hundred fifty two (6,562,500) shares of Common Stock at a cost basis equal to $0.088 per share in exchange for Li extinguishing and canceling the Assigned NMHI (DE) Debt and, upon the issuance of the Li Shares to Li and extinguishment and cancelation of the Assigned NMHI (DE) Debt, NMHI (DE) shall be released from any and all obligations related to the Assigned NMHI (DE) Debt. Upon the issuance of the Li Shares to Li and extinguishment and cancelation of the Assigned NMHI (DE) Debt, the unassigned portion of the NMHI (DE) Debt, or One Hundred Seven Thousand Two Hundred Ninety-Three Dollars ($107,293), shall remain outstanding.

 

2. Li and Zhang Representations. The Company is issuing the Common Stock to Li and Zhang in reliance upon the following representations made by Li and Zhang:

 

(a) Li and Zhang acknowledge and agree that the shares of Common Stock are characterized as “restricted securities” under the Securities Act of 1933 (as amended and together with the rules and regulations promulgated thereunder, the “Securities Act”) and that, under the Securities Act and applicable regulations thereunder, such securities may not be resold, pledged, or otherwise transferred without registration under the Securities Act or an exemption therefrom. Li and Zhang acknowledge and agree that (i) the shares of Common Stock are being offered in a transaction not involving any public offering in the United States within the meaning of the Securities Act, and the shares of Common Stock have not yet been registered under the Securities Act, and (ii) such shares of Common Stock may be offered, resold, pledged, or otherwise transferred only in a transaction registered under the Securities Act, or meeting the requirements of Rule 144, or in accordance with another exemption from the registration requirements of the Securities Act (and based upon an opinion of counsel if the Company so requests) and in accordance with any applicable securities laws of any State of the United States or any other applicable jurisdiction.

 

(b) Li and Zhang acknowledge and agree that (i) the registrar or transfer agent for the shares of Common Stock will not be required to accept for registration of transfer any shares except upon presentation of evidence satisfactory to the Company that the restrictions on transfer under the Securities Act have been complied with and (ii) any shares of Common Stock in the form of definitive physical certificates will bear a restrictive legend.

 

(c) Li and Zhang acknowledge and agree that: (i) the acquisition of the shares of Common Stock is solely for their own account for investment purposes, and not with a view to the distribution thereof in a transaction that would violate the Securities Act or the securities laws of any State of the United States or any other applicable jurisdiction; (ii) he or she is a sophisticated purchaser with such knowledge and experience in business and financial matters that it is capable of evaluating the merits and risks of purchasing the shares of Common Stock; (iii) he or she has had the opportunity to obtain from the Company such information as desired in order to evaluate the merits and the risks inherent in holding the shares of Common Stock; (iv) he or she is able to bear the economic risk and lack of liquidity inherent in holding the shares of Common Stock; (v) he or she is an “accredited investor” within the meaning of Rule 501(a) under the Securities Act; and (vi) he or she either has a pre-existing personal or business relationship with the Company or its officers, directors or controlling persons, or by reason of his business or financial experience, or the business or financial experience of their professional advisors who are unaffiliated with and who are not compensated by the Company, directly or indirectly, have the capacity to protect their own interests in connection with the purchase of the Common Stock.

 

3. NMHI (Cayman) and Uninet Representations. NMHI (Cayman) and Uninet represent and warrant that it has the full authority to assign the Assigned NMHI (DE) Debt and Assigned Visiontech Debt, respectively.

 

4. Miscellaneous.

 

(a) This Agreement shall be construed and enforced in accordance with the laws of the State of Delaware, without regard to its conflict of laws principles.

 

(b) This Agreement constitutes the entire agreement between the parties and supersedes all prior oral or written negotiations and agreements between the parties with respect to the subject matter hereof. No modification, variation or amendment of this Agreement (including any exhibit hereto) shall be effective unless made in writing and signed by both parties.

 

 

(c) Each party to this Agreement hereby represents and warrants to the other party that it has had an opportunity to seek the advice of its own independent legal counsel with respect to the provisions of this Agreement and that its decision to execute this Agreement is not based on any reliance upon the advice of any other party or its legal counsel. Each party represents and warrants to the other party that in executing this Agreement such party has completely read this Agreement and that such party understands the terms of this Agreement and its significance. This Agreement shall be construed neutrally, without regard to the party responsible for its preparation.

 

(d) Each party to this Agreement hereby represents and warrants to the other party that (i) the execution, performance, and delivery of this Agreement has been authorized by all necessary action by such party; (ii) the representative executing this Agreement on behalf of such party has been granted all necessary power and authority to act on behalf of such party with respect to the execution, performance, and delivery of this Agreement; and (iii) the representative executing this Agreement on behalf of such party is of legal age and capacity to enter into agreements which are fully binding and enforceable against such party.

 

(e) This Agreement may be executed in any number of counterparts and may be delivered by facsimile transmission, all of which taken together shall constitute a single instrument.

 

(f) If any provision of this Agreement is deemed to be invalid, illegal, or unenforceable in any respect, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired.

 

[Signature page follows]

 

 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

 

	COMPANY
	NATURE’S MIRACLE HOLDING INC.,
	a Delaware corporation
	By:	/s/ George Yutuc
	Name:	George Yutuc
	Title:	Chief Financial Officer
	VISIONTECH
	VISIONTECH GROUP, INC.,
	a California corporation
	By:	/s/ Zhiyi Zhang
	Name:	Zhiyi Zhang
	Title:	President
	UNINET
	UNINET GLOBAL INC.
	By:	/s/ Zhiyi Zhang
	Name:	Zhiyi Zhang
	Title:	President

 

Signature Page to Debt to Equity Conversion Agreement

 

 

	NMHI (DE)
	NATURE’S MIRACLE, INC.,
	a Delaware corporation
	By:	/s/ George Yutuc
	Name:	George Yutuc
	Title:	Chief Financial Officer
	NMHI (CAYMAN)
	NATURE’S MIRACLE INC.,
	a Cayman Islands exempted company
	By:	/s/ Tie Li
	Name:	Tie Li
	Title:	CEO
	LI
	/s/ Tie (James) Li
	Tie (James) Li, an individual
	ZHANG
	/s/ Zhiyi Zhang
	Zhiyi Zhang, an individual

 

Signature Page to Debt to Equity Conversion Agreement

 

 

5

 

 

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