What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2024-03-28 compared with 2023-03-31 · 42 added, 26 removed, 4 unchanged (94% 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

On December 31, 2022, our common stock

was not traded on any stock exchange.

Based upon information furnished by

our transfer agent, as of December 31, 2022, the Company had 62 stockholders of record.

We have never declared or paid cash

dividends on our shares.

Our common stock is traded on the OTC QB tier of OTC Market Group LLC’s

Marketplace under the symbol “PNYG.” As of March 28, 2024, there were 11,500,000 shares of common stock outstanding.

The OTC Market is a network of security dealers

who buy and sell stock.

The dealers are connected by a computer network that provides information on current “bids” and “asks,”

as well as volume information.

The trading of securities on the OTCQB is often sporadic and investors may have difficulty buying and selling

our shares or obtaining market quotations for them, which may have a negative effect on the market price of our common stock.

The following table sets forth, for the periods

indicated the high and low bid quotations for our common stock.

These quotations represent inter-dealer quotations, without adjustment

for retail markup, markdown, or commission and may not represent actual transactions.

Fiscal Year 2023

First Quarter (January 1, 2023 - March 31, 2023)

Second Quarter (April 1, 2023 - June 30, 2023)

Third Quarter (July 1, 2023 - September 30, 2023)

Fourth Quarter (October 1, 2023 - December 31, 2023)

Fiscal Year 2022

Third Quarter (July 1, 2022 - September 30, 2022)

Fourth Quarter (October 1, 2022 - December 31, 2022)

Based upon information furnished by our transfer agent, as of December

31, 2023, the Company had 22 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.

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.

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

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 requ ired 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

1 unchanged sentence

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