Company: ABTS
Filing Date: 2025-05-30
Form Type: F-3/A
Source: 0001641172-25-013026
Chunk: 31

Company: Abits Group Inc
Filing Date: 2025-05-30
Form: F-3/A
Chunk 31
---
 to the PCAOB for inspection or investigation, our investors would be deprived of the benefits of such inspection. Any audit reports not issued by auditors that are completely inspected or investigated by the PCAOB, or a lack of PCAOB inspections of audit work undertaken in mainland China or Hong Kong that prevents the PCAOB from regularly evaluating our auditors’ audits and their quality control procedures, could result in a lack of assurance that our financial statements and disclosures are adequate and accurate, which could result in restriction to our access to the U.S. capital markets, and trading of our securities, including trading on the national exchange or “over-the-counter” markets, may be prohibited under the HFCAA.

While our business operations are not based in mainland China or Hong Kong, we may face uncertainties in the interpretation and application of PRC laws and regulations related to the limited activities conducted by our mainland China subsidiary if in the future PRC laws or regulations are applied in a manner that could negatively affect us.

We conduct substantially all of our business operations in the United States through our U.S. subsidiaries. Our Hong Kong subsidiary is a holding company which does not conduct substantial business. Our PRC subsidiary, Bitmatrix, provides limited in-house administrative support to us and our U.S. subsidiaries. While Bitmatrix does not conduct any revenue operation activity, its presence in mainland China and its limited in-house support activities could subject us to uncertainty in the interpretation and application of PRC laws and regulations. PRC laws, rules or regulations can evolve quickly and may be revised from time to time. Interpretation and implementation of current and future PRC laws and regulations may change quickly with little advance notice. If PRC laws, rules and regulations are applied in a manner that negatively affect us and our PRC subsidiaries, we cannot assure you that we and our subsidiaries will be able to comply with them in all respects, and we and our PRC subsidiaries may be subject to fines and other government sanctions, which may adversely affect our financial condition and results of operations.

| 13 |

If we were to be required to obtain any permission or approval from or complete any filing procedures with the CSRC, the CAC, or other PRC governmental authorities under the PRC laws, we could be subject to fines or other regulatory sanctions.

We conduct substantially all of our business operations in the United States through our U.S. subsidiaries. Our PRC subsidiary, Bitmatrix’s activity is limited to in-house administrative support to the holding company and other subsidiaries and it does not conduct any revenue generating business