Company: CLIK
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001493152-25-019286
Chunk: 36

Company: Click Holdings Ltd.
Filing Date: 2025-10-24
Form: 20-F
Item: Item 3
Chunk 36
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Class A Ordinary Shares are expected to initially trade below $5.00 per Class A Ordinary Share. As a result, our Class A Ordinary Shares
would be known as a “penny stock”, which is subject to various regulations involving disclosures to be given to you prior
to the purchase of any penny stock. The SEC has regulations which generally define a “penny stock” to be any equity security
that has a market price of less than $5.00 per share, subject to certain exceptions. Depending on market fluctuations, our Class A Ordinary
Shares could be considered as a “penny stock.” A penny stock is subject to rules that impose additional sales practice requirements
on brokers/dealers who sell these securities to persons other than established Members and accredited investors. For transactions covered
by these rules, the broker/dealer must make a special suitability determination for the purchase of these securities. In addition, a
broker/dealer must receive the purchaser’s written consent to the transaction prior to the purchase and must also provide certain
written disclosures to the purchaser. Consequently, the “penny stock” rules may restrict the ability of broker/dealers to
sell our Class A Ordinary Shares, and may negatively affect the ability of holders of our Class A Ordinary Shares to resell them. These
disclosures require you to acknowledge that you understand the risks associated with buying penny stocks and that you can absorb the
loss of your entire investment. Penny stocks generally do not have a very high trading volume. Consequently, the price of the stock is
often volatile and you may not be able to buy or sell the stock when you want to.

  19  

If
we fail to meet applicable listing requirements, Nasdaq Capital Market may delist our Class A Ordinary Shares from trading, in which
case the liquidity and market price of our Class A Ordinary Shares could decline.

We
cannot assure you we will be able to meet the continued listing standards of Nasdaq Capital Market in the future. If we fail to comply
with the applicable listing standards and Nasdaq Capital Market delists our Class A Ordinary Shares, we and our shareholders could face
significant material adverse consequences, including:

  a                                                                                                                                      
  reduced                                                                                                                                
  a                                                                                                                                      
  a                                                                                                                                      
  a                                                                                                                                      

The
National Securities Markets Improvement Act of 1996, which is a federal statute, prevents or preempts the states from regulating the
sale of certain securities, which are referred to as “covered securities.” Because we expect that our Class A Ordinary