The company said on May 3, 2024 it received a notice of deficiency from Nasdaq for not meeting Nasdaq Listing Rule 5605(c)(2)(A). The rule requires that the audit committee be composed of 3 independent directors.

1. 01

   The company said on May 3, 2024 it received a notice of deficiency from Nasdaq for not meeting Nasdaq Listing Rule 5605(c)(2)(A). The rule requires that the audit committee be composed of 3 independent directors.

2. 02

   The company said the deficiency cited in the Notice is the result of the previously announced resignation of Shiu Leung (Fred) Chan from the Board and the Audit Committee, and it did not involve any other cause.

3. 03

   The company said that on May 9, 2024, within the cure period Nasdaq granted in the notice, it appointed Robert Blair and Judy Lin, both current directors, as additional members of the audit committee.

4. 04

   The company said the audit committee currently consists of 4 independent directors (Tally Liu, Dan Fairfax, Robert Blair and Judy Lin), which complies with Nasdaq Listing Rule 5605(c)(2)(A).

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Original filing

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