1 unchanged sentence
Market Information
−Removed: Our common stock trades
−Removed: on the Nasdaq Capital Market under the symbol “AIHS.”
−Removed: On July 7, 2021, our common stock had a closing price of $0.885.
−Removed: Based upon information furnished
−Removed: by our transfer agent, as of July 7, 2021, the Company had approximately 18 stockholders of record.
−Removed: Because some of our common stock is
−Removed: held by brokers and other institutions on behalf of stockholders, we are unable to estimate the total number of stockholders represented
−Removed: by these record holders.
−Removed: We have never declared or
−Removed: paid cash dividends on our shares.
+Added: Our common stock trades on the Nasdaq Capital Market under the symbol “AIHS.”
+Added: Based upon information furnished by our transfer agent, as of July 13, 2022, the Company had approximately 28 stockholders of record.
+Added: Because some of our common stock is held by brokers and other institutions on behalf of stockholders, we are unable to estimate the total number of stockholders represented by these record holders.
+Added: 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.
−Removed: Our board of directors will
−Removed: have the discretion to declare and pay dividends in the future as we are a holding company and we rely on dividends and other distributions
−Removed: on equity paid by our PRC subsidiaries for our cash and financing requirements, including the funds necessary to pay dividends and other
−Removed: cash distributions to our stockholders and service any debt we may incur.
−Removed: The Foreign Investment Law, and the Company Law of the PRC (2006),
−Removed: as amended, contain the principal regulations governing dividend distributions by wholly foreign owned enterprises.
−Removed: Under these regulations,
−Removed: wholly foreign owned enterprises may pay dividends only out of their accumulated profits, if any, determined in accordance with PRC accounting
−Removed: standards and regulations.
−Removed: Additionally, such companies are required to set aside 10% of their after-tax profits of the year, if any,
−Removed: to statutory reserve funds until such time as the accumulated reserve funds reach and remain above 50% of the registered capital amount.
+Added: Our board of directors will have the discretion to declare and pay dividends in the future as we are a holding company and we rely on dividends and other distributions on equity paid by our PRC subsidiaries for our cash and financing requirements, including the funds necessary to pay dividends and other cash distributions to our stockholders and service any debt we may incur.
+Added: The Foreign Investment Law, and the Company Law of the PRC (2006), as amended, contain the principal regulations governing dividend distributions by wholly foreign owned enterprises.
+Added: 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.
+Added: Additionally, such companies are required to set aside 10% of their after-tax profits of the year, if any, to statutory 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.
−Removed: Furthermore, if our subsidiaries and affiliates in China incur debt on their own in the future, the instruments governing the debt may
−Removed: restrict its ability to pay dividends or make other payments.
−Removed: If we or our subsidiary and affiliates are unable to receive all of the
−Removed: revenues from our operations through the current contractual arrangements, we may be unable to pay dividends on our common stock.
+Added: A PRC company is not permitted to distribute any profits until any losses from prior fiscal years have been offset.
+Added: Profits retained from prior fiscal years may be distributed together with distributable profits from the current fiscal year.
+Added: 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.
+Added: 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.
Equity Compensation Plan Information
−Removed: In September 2018, our
−Removed: board of directors and in November 2018, our stockholders approved, the 2018 Equity Incentive Plan, pursuant to which a maximum of
−Removed: 2,000,000 shares of common stock were reserved for issuance to our employees, officers, directors, consultants.
−Removed: The plan permits the grant
−Removed: of nonqualified stock options, incentive stock options, restricted stock, restricted stock units (“RSUs”), stock appreciation
−Removed: rights, stock bonus awards, and performance compensation awards.
−Removed: As of the date of this Report, an aggregate of 169,015 RSUs were issued
−Removed: and 63,637 RSUs shall be vested but have not been issued under the plan.
−Removed: The following table provides
−Removed: information as of March 31, 2021 with respect to the shares of our common stock that may be issued under our existing equity incentive
−Removed: Plan category
+Added: In September 2018, our board of directors adopted and in November 2018, our stockholders approved, the 2018 Equity Incentive Plan, pursuant to which a maximum of 200,000 (2,000,000 pre-reverse stock split) shares of common stock were reserved for issuance to our employees, officers, directors, consultants.
+Added: The plan permits the grant of nonqualified stock options, incentive stock options, restricted stock, restricted stock units (“RSUs”), stock appreciation rights, stock bonus awards, and performance compensation awards.
+Added: As of the date of this Report, an aggregate of 12,727 (127,273 pre reverse split) RSUs were issued and 9,545 (95,457 pre reverse split) RSUs shall be vested but have not been issued under the plan.
+Added: The following table provides information as of March 31, 2022 with respect to the shares of our common stock that may be issued under our existing equity incentive plan:
+Added: Number of securities remaining
Number of securities to be
−Removed: issued upon exercise of
−Removed: outstanding options, warrants
Weighted-average exercise
−Removed: price of outstanding
−Removed: options, warrants and
−Removed: Number of securities remaining
available for future issuance
+Added: issued upon exercise of
+Added: price of outstanding
under equity compensation
+Added: outstanding options, warrants
+Added: options, warrants and
plans (excluding securities
+Added: Plan category
reflected in column (a))
2018 Equity Incentive Plan
+Added: 183,099 (1,830,985 pre-reverse stock split)
Purchases of Our Equity Securities
2 unchanged sentences
Not applicable.
−Removed: Selected Financial Data
−Removed: 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.