Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 78

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 3
Chunk 78
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 the Sarbanes-Oxley Act, the PCAOB shall have independent discretion to select any issuer audits for inspection
or investigation; (ii) the PCAOB shall have direct access to interview or take testimony from all personnel of the audit firms whose issuer
engagements are being inspected or investigated; (iii) the PCAOB shall have the unfettered ability to transfer information to the SEC,
in accordance with the Sarbanes-Oxley Act; and (iv) the PCAOB inspectors shall have access to complete audit work papers without any redactions,
with view-only procedures for certain targeted pieces of information such as personally identifiable information. On December 15, 2022,
the PCAOB issued a report that vacated its December 16, 2021 determination and removed mainland China and Hong Kong from the list of jurisdictions
where it is unable to inspect or investigate completely registered public accounting firms. On December 29, 2022, legislation entitled
“ Consolidated Appropriations Act, 2023” (the “ Consolidated Appropriations Act”), was signed into law by President
Joseph Biden of the United Sates. The Consolidated Appropriations Act contained, among other things, an identical provision to the AHFCAA,
which reduces the number of consecutive non-inspection years required for triggering the prohibitions under the HFCAA from three years
to two.

Our auditor, Onestop Assurance
PAC, the independent registered public accounting firm that issues the consolidated financial statements incorporated by reference in
this Annual Report, is a firm 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 the applicable professional standards. However, the recent developments added uncertainties
to our continued listing in the U. S. and we cannot assure you whether Nasdaq or regulatory authorities would apply additional and more
stringent criteria to us after considering the effectiveness of our auditor’s audit procedures and quality control procedures, adequacy
of personnel and training, or sufficiency of resources, geographic reach, or experience as it relates to the audit of our financial statements.
Such uncertainty could cause the market price of the ordinary shares to be materially and adversely affected, and our securities could
be delisted or prohibited from being traded “over-the-counter” earlier than would be required by the HFCAA.

Item 4. INFORMATION ON THE COMPANY