VivAsia Fitness, Inc. is a California public benefit corporation formed in June 2015 for educational and charitable purposes. We have applied for recognition of tax-exempt status. If VivAsia is granted tax-exempt status, the exemption is expected to be retroactive to the date of VivAsia’s incorporation. A contribution made to VivAsia before its tax-exempt status is granted would then be eligible for a charitable deduction by the donor on the same terms as donations to other tax-exempt charities. However, if the IRS decline to grant us tax-exempt status, the donor cannot receive a tax deduction for that contribution.