Company: DTSQ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001417
Chunk: 218

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 218
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 number of factors out of our and our auditor’s control.
The PCAOB continues to demand complete access in mainland China and Hong Kong moving forward and pursues ongoing investigations and initiate
new investigations as needed. The PCAOB has also indicated that it will act immediately to consider the need to issue new determinations
with the HFCAA if needed.

Our
financial statements contained in the annual report on Form 10-K for the fiscal year ended December 31, 2024 have been audited by an
independent registered public accounting firm, UHY LLP, which is headquartered in New York, New York, and has not been identified as
a firm subject to the PCAOB’s determination. UHY LLP is registered with the PCAOB and is subject to laws in the United States,
pursuant to which the PCAOB conducts regular inspections to assess its compliance with applicable professional standards. However, if
it is later determined that the PCAOB is unable to inspect or investigate completely our auditor for two consecutive years because of
a position taken by an authority in a foreign jurisdiction, Nasdaq would delist our securities, including our units, ordinary shares
and rights, and the SEC would prohibit them from being traded on a national securities exchange or in the over-the-counter trading market
in the U.S. For example, if we effect our initial business combination with a business located in mainland China and Hong Kong, of which
the auditor is located in mainland China and Hong Kong, with operations in and which performs audit operations in mainland China and
Hong Kong, a jurisdiction where the PCAOB has been unable to conduct inspections without the approval of the relevant authorities, the
work of such auditor as it relates to those operations may not be inspected by the PCAOB. The HFCAA would restrict our ability to consummate
a business combination with a target business unless that business met certain standards of the PCAOB. The HFCAA also requires public
companies to disclose, among other things, whether they are owned or controlled by a foreign government, specifically, those based in
China. Therefore, we may not be able to consummate a business combination with a favorable target business due to relevant laws. Furthermore,
if our securities are delisted and prohibited from being traded on a national securities exchange or in the over-the-counter trading
market in the U.S. for such reasons, it would substantially impair your ability to sell or purchase our securities when you wish to do
so, and the risk and uncertainty associated with potential delisting and prohibition would have