Company: ABTS
Filing Date: 2025-12-02
Form Type: F-3/A
Source: 0001493152-25-025631
Chunk: 57

Company: Abits Group Inc
Filing Date: 2025-12-02
Form: F-3/A
Chunk 57
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 liability provisions of United States securities laws.

A majority of our directors and executive officers are nationals or residents of countries other than the United States and all or a substantial portion of such individuals’ assets are located outside the United States. Our CEO and director, Mr. Conglin Deng, is primarily located in China splitting his time between Hong Kong and mainland China. He also resides in the U.S. for four to five months a year managing the operations of our U.S. subsidiaries. Three of our directors, Tao Xu, Chuan Zhan and Yanyan Sun, are located in the PRC. Our director and Audit Committee Chair, Khuat Leok Choong, is located in Malaysia. Our CFO, Wanhong Tan, is located in Malaysia and also spends a portion of his time in Hong Kong attending to the affairs of our Company. As a result, it would be difficult for a shareholder to effect service of process upon most of our directors and officers who are located outside of the U.S. or to enforce against them judgments obtained in United States courts, including judgments predicated upon the civil liability provisions of the securities laws of the United States or any state in the United States.

As advised by our PRC counsel, Jincheng Tongda & Neal, there is uncertainty as to whether the courts of the PRC would enforce judgments of United States courts or British Virgin Islands courts obtained against our directors and officers predicated upon the civil liability provisions of the United States federal and state securities laws. Our PRC counsel has further advised us that the recognition and enforcement of foreign judgments are provided for under PRC Civil Procedures Law. PRC courts may recognize and enforce foreign judgments in accordance with the requirements of PRC Civil Procedures Law based either on treaties between China and the country where the judgment is made or on reciprocity between jurisdictions. China does not have any treaties or other form of reciprocity with the United States or the British Virgin Islands that provide for the reciprocal recognition and enforcement of foreign judgments. In addition, according to the PRC Civil Procedures Law, courts in the PRC will not enforce a foreign judgment against our directors and officers if they decide that the judgment violates the basic principles of PRC law or national sovereignty, security or public interest. As a result, it is uncertain whether and on what basis a PRC court would enforce a judgment rendered by a court in the United States or in the British Virgin Islands.

As advised by our Hong Kong counsel, Patrick Mak & Tse, there is uncertainty as to whether the judgment