What changed in this filing

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Item 4. Controls and Procedures

2026-08-07 compared with 2026-05-13 · 15 added, 29 removed, 38 unchanged (54% of the section changed)

9 unchanged sentences

carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer

(principal executive officer), of the effectiveness of the design and operation of these disclosure controls and procedures, as such

term is defined in Exchange Act Rule 13a-15(e), as of March 31, 2026.

Based on this evaluation, the Chief Executive Officer (principal

executive officer) concluded that our disclosure controls and procedures were not effective as of March 31, 2026, the end of the period

covered by this Quarterly Report on Form 10-Q, due to the material weaknesses described below.

(principal executive officer) and Corporate Controller (principal financial officer), of the effectiveness of the design and

operation of these disclosure controls and procedures, as such term is defined in Exchange Act Rule 13a-15(e), as of June 30,

Based on this evaluation, the Chief Executive Officer (principal executive officer) and Corporate Controller

(principal financial officer) concluded that our disclosure controls and procedures were not effective as of June 30, 2026, the end

of the period covered by this Quarterly Report on Form 10-Q, due to the material weaknesses described below.

Management’s Report on Internal Control over Financial Reporting

7 unchanged sentences

may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

has assessed the effectiveness of our internal control over financial reporting as of March 31, 2026.

has assessed the effectiveness of our internal control over financial reporting as of June 30, 2026.

In making our assessment of the

9 unchanged sentences

arrangements and the timing of recognition of certain non-cash charges.

management concluded that we did not maintain effective internal control over financial reporting as of March 31, 2026.

management concluded that we did not maintain effective internal control over financial reporting as of June 30, 2026.

for Remediation of Material Weakness

Company believes that the combination of responsibilities held by the Chief Executive Officer and the Corporate Controller strengthens

financial oversight, enhances internal control effectiveness, and promotes leadership continuity.

The Company intends to remediate

the material weakness through measures that are expected to include engaging outside technical accounting resources with respect to significant

and unusual transactions, including equity financing arrangements;

enhancing management review procedures over the application of new

accounting standards and the timing of recognition of non-cash charges;

and periodic reporting to the Audit Committee on

remediation progress .

As management continues to evaluate

and refine our internal control framework, additional steps may be taken to address any remaining deficiencies or to further strengthen

and remediation measures already in place.

annual report does not include an attestation report of our registered public accounting firm regarding internal control over financial

Management’s report was not subject to attestation by its registered public accounting firm pursuant to the Dodd-Frank

Wall Street Reform and Consumer Protection Act, which permits the Company to provide only management’s report in this quarterly

remediation measures already in place.

Changes in Internal Control over Financial Reporting

2 unchanged sentences

control over financial reporting.

5.02 - Departure of Directors or Certain Officers;

Election of Directors

January 19, 2026, Philip Wong notified the Board of Directors of his resignation as Director, effective immediately, due to personal

Wong’s departure was not due to any disagreement with the Company on any matter relating to its operations, policies,

or practices.

January 22, 2026, Iris Chan was elected as an Independent Director and Audit Committee Chair for the vacant term to conclude upon the

election of directors during the 2026 Annual Meeting of Shareholders.

February 17, 2026, Yubao Li notified the Board of Directors of his resignation as the Chairman and Director, effective immediately, due

to personal reasons.

Li’s departure was not due to any disagreement with the Company on any matter relating to its operations,

policies, or practices.

February 17, 2026, Gerald D.

was elected as interim Chairman.

Roberts has agreed to serve until a permanent Chairman

March 27, 2026, Fred H.F.

Chak was elected by the Board of Directors as an Independent Director effective immediately.

OTHER INFORMATION

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-Q

Item 4. Controls and Procedures