NXTT subsidiary VDao unauthorized directorship change & share transfer; funds frozen

Next Technology Holding Inc.

Unauthorized directorship change of VDao on Nov 14, 2023, using forged documents; current and former directors implicated.
Former director Dai Zheng transferred VDao shares without authorization; company investigating.
Attempted unauthorized access to company bank account; bank has frozen VDao account to prevent further misappropriation.
Company also approved issuance of 411,280 shares at $4.80/share to settle $1,974,140 in professional fees.

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