---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-25-000706"
form_type: "8-K"
ticker: null
cik: "0001210618"
company_name: "SPI Energy Co., Ltd."
filed_at: "2025-02-05T23:59:59+00:00"
generated_at: "2026-05-27T02:25:43.819566+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# SPI Energy independent director resigns citing cash flow issues, unpaid fees, Nasdaq suspension

## Summary
- Director Maurice Wai-fung Ngai resigned effective Jan 16, 2025, citing unresolved cash flow problems and material weaknesses.
- Ngai noted the Company owes him ~$398k in unpaid director fees from February 2021.
- He stated the Company failed to file its 2023 annual report, leading to Nasdaq suspension of trading on Jan 15, 2025.
- Ngai also expressed concerns about lack of D&O insurance and inability to timely pay expenses.

## SEC filing metadata
- accession: 0001683168-25-000706
- form_type: 8-K
- cik: 0001210618
- company_name: SPI Energy Co., Ltd.
- filed_at: 2025-02-05T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1210618/000168316825000706/0001683168-25-000706-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1210618/000168316825000706/spi_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-25-000706
- JSON: https://secwatch.observer/filing/0001683168-25-000706.json
- Plain text: https://secwatch.observer/filing/0001683168-25-000706.txt

## Key facts
- Executive change
  Maurice Wai-fung Ngai resigned as independent director at SPI Energy Co., Ltd..
  - Action: resigned
  - Role: independent director
  source text: Maurice Wai-fung Ngai, an independent director of the Board of Directors and a member of the Audit Committee, Nominating and Corporate Governance Committee, and Compensation Committee of SPI Energy Co., Ltd. (the "Company"), as well as the Chairman of the Audit Committee, informed the Company of his decision to resign from the Board of Directors and all committees, effective January, 16, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1210618/000168316825000706/0001683168-25-000706-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.