Company: AOAO
Filing Date: 2025-02-24
Form Type: S-1/A
Source: 0001493152-25-008010
Chunk: 5

Company: Alpha One Inc.
Filing Date: 2025-02-24
Form: S-1/A
Chunk 5
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 released of the guidelines “Overseas Offering and Listing No. 7 Regulatory Requirements for Domestic Companies Transferring Offering and Listing from overseas OTC Market to Overseas Stock Exchange”, rules are, (i) According to Article 1 and Article 2 of new regulations, overseas offering and listing refers to offering and listing activities in overseas stock exchanges, and listing of domestic companies in overseas OTC market is out of scope for the filing requirement; (ii) According to Article 16 of new regulations, domestic companies that seek initial public offering or listing in overseas market shall file with CSRC within 3 working days after the relevant application is submitted overseas, and offering and listing in other overseas market than where it has offered and listed shall be filed with CSRC within 3 working days after the relevant application is submitted overseas; and (iii) According to Notice of Filing Management Arrangements for Domestic Companies Seeking Offering and Listing in Overseas Market, since new regulations came into effect (which is 31 stMarch, 2023), domestic companies that have submitted application to overseas market other than where it has offered and listed, but do not get approval from overseas regulator or stock exchanges yet, shall file with CSRC before offering and listing procedures are completed. We are listing in overseas OTC market and not transferring Offering and Listing from Overseas OTC Market to Overseas Stock Exchange currently. According to the CSRC Guidelines of Regulatory Rules, we are not subjected to the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies, or the Trial Measures, which became effective on March 31, 2023.

The Holding Foreign Companies Accountable Act, or the HFCAA, was enacted on December 18, 2020, and was amended by the Consolidated Appropriations Act, 2023 enacted on December 29, 2022. The amended HFCAA states if the SEC determines that we have filed audit reports issued by a registered public accounting firm that has not been subject to inspection by the PCAOB for two consecutive years, the SEC shall prohibit our Common stock from being traded on a national securities exchange or in the over-the-counter trading market in the United States. The Consolidated Appropriations Act, 2023 reduced the number of consecutive non-inspection years required for triggering the prohibitions under the HFCAA from three years to two years. The PCAOB issued a Determination Report on December 16, 2021 (the “Determination Report”) which found that the PCAOB was unable to inspect or