What changed in this filing

/stocks — the workspaceLOADING

Item 5. Market for Registrant’s Common Equity

2022-03-31 compared with 2021-08-03 · 24 added, 24 removed, 6 unchanged (89% of the section changed)

Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities

Market for Registrant’s Common

Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities

Market Information

1 unchanged sentence

was not traded on any stock exchange.

Based upon information furnished

by our transfer agent, as of June 30, 2021, the Company had 62 stockholders of record.

We have never declared or

paid cash dividends on our shares.

Based upon information furnished by

our transfer agent, as of December 31, 2021, the Company had 62 stockholders of record.

We have never declared or paid cash

dividends on our shares.

We do not have any present plan to pay any cash dividends on our common stock in the foreseeable future.

We currently intend to retain most, if not all, of our available funds and any future earnings to operate and grow our business.

Our board of directors will

have the discretion to declare and pay dividends in the future, subject to applicable PRC regulations and restrictions.

The Wholly-Foreign

Owned Enterprise Law (1986), as amended, and the Wholly-Foreign Owned Enterprise Law Implementing Rules (1990), as amended, and the Company

Law of the PRC (2006), as amended, contain the principal regulations governing dividend distributions by wholly foreign owned enterprises.

Under these regulations, wholly foreign owned enterprises may pay dividends only out of their accumulated profits, if any, determined

in accordance with PRC accounting standards and regulations.

Additionally, such companies are required to set aside a certain amount of

their accumulated profits each year, if any, to fund certain reserve funds until such time as the accumulated reserve funds reach and

remain above 50% of the registered capital amount.

These reserves are not distributable as cash dividends except in the event of liquidation

and cannot be used for working capital purposes.

Furthermore, if our subsidiaries and affiliates in China incur debt on their own in the

future, the instruments governing the debt may restrict its ability to pay dividends or make other payments.

If we or our subsidiary and

affiliates are unable to receive all of the revenues from our operations through the current contractual arrangements, we may be unable

to pay dividends on our common stock.

currently intend to retain most, if not all, of our available funds and any future earnings to operate and grow our business.

Our board of directors will have the discretion

to declare and pay dividends in the future, subject to applicable PRC regulations and restrictions.

The Wholly-Foreign Owned Enterprise

Law (1986), as amended, and the Wholly-Foreign Owned Enterprise Law Implementing Rules (1990), as amended, and the Company Law of the

PRC (2006), as amended, contain the principal regulations governing dividend distributions by wholly foreign owned enterprises.

these regulations, wholly foreign owned enterprises may pay dividends only out of their accumulated profits, if any, determined in accordance

with PRC accounting standards and regulations.

Additionally, such companies are required to set aside a certain amount of their accumulated

profits each year, if any, to fund certain reserve funds until such time as the accumulated reserve funds reach and remain above 50%

of the registered capital amount.

These reserves are not distributable as cash dividends except in the event of liquidation and cannot

be used for working capital purposes.

Furthermore, if our subsidiaries and affiliates in China incur debt on their own in the future,

the instruments governing the debt may restrict its ability to pay dividends or make other payments.

If we or our subsidiary and affiliates

are unable to receive all of the revenues from our operations through the current contractual arrangements, we may be unable to pay dividends

on our common stock.

Recent Sales of Unregistered Securities

Selected Financial Data

Not required for smaller reporting companies.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity