Amended Current Report Filing (8-k/a)
May 12 2023 - 7:56AM
Edgar (US Regulatory)
0000934796
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This Current Report on Form 8-K/A (this Amendment) amends the Current Report on Form 8-K (Original Report) filed by Network CN Inc. (the Company) with the U.S. Securities and Exchange Commission on April 26, 2023. This Form 8-K/A is being filed solely to correct certain clerical errors on the number of bonus shares pursuant to the terms of employment contract of Mr. Yang from 466,982 restricted shares to 565,980 restricted shares. Except for this typographical mistake, there is no other change to the Original Report.
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2023-05-12
0000934796
2023-05-12
2023-05-12
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
Amendment No. 1
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest event Reported):
May 12, 2023, (May 12, 2023)
NETWORK CN INC.
(Exact Name of Registrant as Specified in Charter)
Delaware |
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000-30264 |
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90-0370486 |
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(State or Other Jurisdiction
of Incorporation) |
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(Commission File Number) |
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(I.R.S. Employer
Identification No.) |
Unit 705B, 7th Floor, New East Ocean Centre, 9
Science Museum Road, TST, KLN, Hong Kong
(Address of Principal Executive Offices)
(Zip Code)
852-9625 0097
(Registrant's telephone number, including area code)
_____________________________________________________
(Former name, former address and former fiscal
year, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
o Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act: NONE
Title of each class |
Trading Symbol(s) |
Name of each exchange on which
registered |
Common Stock, $0.001 par value |
NWCN |
OTC market |
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
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Emerging growth company o |
If an emerging growth company, indicate by check mark if
the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. o
Explanatory Note
This Current Report on Form 8-K/A (this “Amendment”)
amends the Current Report on Form 8-K (“Original Report”) filed by Network CN Inc. (“the Company”) with the U.S.
Securities and Exchange Commission on April 26, 2023. This Form 8-K/A is being filed solely to correct certain
clerical errors on the number of bonus shares pursuant to the terms of employment contract of Mr. Yang from 466,982
restricted shares to 565,980 restricted shares. Except for this typographical mistake, there is no other change to the Original
Report.
Item 2.01, Completion of Acquisition or Disposition
of Assets
Item 3.02 Unregistered Sales of Equity Securities.
On April 25, 2023, Network
CN Inc. (the "Company") agreed to issue 933,964 and 1,131,960 restricted shares of the Company’s common stock to the employees,
Mr. Qi Hao (“Qi”) and Mr. Yang Wu Qiang (“Yang”), respectively.
On January 1, 2023,
NCN (Tianjin) Culture Co., Ltd (“NCN Tianjin”) and NCN (Chengdu) Culture Media Co., Ltd (“NCN
Chengdu”), a wholly foreign-owned enterprise in Tianjin and Chengdu, China of the Company entered into employment contracts
with Mr. Qi and Mr. Yang under which Mr. Qi and Mr. Yang agreed to bring in the advertising rights in Tianjin and Chengdu to the Company
for 933,964 and 1,131,960 restricted shares of the Company’s common stock, respectively. Pursuant
to the terms of employment contract of Mr. Qi, if Mr. Qi can achieve the annual sales and profit before tax goal in 2023 and 2024, the
Company will issue bonus shares of 466,982 and 466,982 restricted shares of the Company’s common stock to Mr. Qi, respectively.
Pursuant to the terms of employment contract of Mr. Yang, if the employee can achieve the annual
sales and profit before tax goal in 2023 and 2024, the Company will issue bonus shares of 565,980 and 565,980 restricted shares
of the Company’s common stock to Mr. Yang respectively.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: May 12, 2023
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NETWORK CN INC. |
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By: /s/ Earnest Leung |
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Earnest Leung |
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Chief Executive Officer |
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