TREASURE GLOBAL INC received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).
“August 17, 2023, Treasure Global Inc (the “Company”) received a letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) therein stating that for the 30 consecutive business day period between July 6, 2023 through August 16, 2023, the common stock of the Company had not maintained a minimum closing bid price of $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided an initial period of 180 calendar d”
Material Agreements
TREASURE GLOBAL INC entered into Software Development Agreement with VCI Global valued at USD $1 million (effective 2023-07-20).
“On July 20, 2023, Gem Reward Sdn Bhd (“Gem”), a wholly owned subsidiary of the Company, entered into a Software Development Agreement (the “Software Agreement”) with VCI Global, in which Gem shall create, design, produce, develop, finalize, commission and deliver to VCI Global the Platform.”
Material Agreements
TREASURE GLOBAL INC entered into Collaboration Agreement with VCI Global Limited (effective 2023-07-19).
“On July 19, 2023, Treasure Global Inc (the “Company”) entered into a Collaboration Agreement (the “Collaboration Agreement”) with VCI Global Limited (NASDAQ: VCIG) (“VCI Global”), a multi-disciplinary consulting group focused on business and technology, in which the Company and VCI Global shall collaborate to develop an AI-powered travel platform (“Platform”) which utilizes advanced technology, including high-tech and predictive technology, to assist its users in discovering the best places to visit, explore, dine and engage in various activities during their travel in Malaysia.”
Auditor Changes
TREASURE GLOBAL INC engaged WWC, P.C. as its auditor.
“On July 3, 2023, the Company engaged WWC, P.C. ("WWC") to serve as the Company's independent registered public accounting firm, effective July 3, 2023 (the "Engagement Date").”
Michael Chan Meng Chun was appointed as Chief Financial Officer at TREASURE GLOBAL INC.
“Treasure Global Inc (the “Company”) and Michael Chan Meng Chun entered into an Executive Employment Agreement on June 21, 2023 (the “Employment Agreement”), pursuant to which Mr. Chan was appointed as the Company’s Chief Financial Officer effective as of July 31, 2023.”
Material Agreements
TREASURE GLOBAL INC entered into Licensing Agreement with Sigma Muhibah Sdn Bhd (Abe Yus) (effective 2023-06-06).
“On June 6, 2023, AY Food Ventures Sdn Bhd (“AYFV”) , a wholly owned subsidiary of Treasure Global Inc. (the “Company”) entered into a licensing agreement with Sigma Muhibah Sdn Bhd (“Abe Yus”), a food & beverage company, in which Abe Yus granted AYFV the exclusive worldwide right to grant sub-licensees to any third parties to use Abe Yus’ trademarks for its food & beverage business chain (the “Licensing Agreement”).”
Chan Meng Chun was appointed as Chief Financial Officer at TREASURE GLOBAL INC.
“On June 5, 2023, the Company’s Board of Directors appointed Chan Meng Chun, age 51, as the Company’s Chief Financial Officer, effective July 31, 2023”
Jaylvin Chan Yee Fei resigned as Chief Financial Officer at TREASURE GLOBAL INC.
“On May 31, 2023, Treasure Global Inc (the "Company") received a resignation notice from its Chief Financial Officer, Jaylvin Chan Yee Fei who served as the Company’s principal financial officer and principal accounting officer. Such resignation will be effective on July 31, 2023.”
Material Agreements
TREASURE GLOBAL INC entered into Worldwide Master License Agreement with Morganfield's Holdings Sdn. Bhd. (effective 2023-05-01).
“On May 1, 2023, Treasure Global Inc (“TGL”), through its affiliate, Morgan Global Sdn. Bhd. (together with TGL, the “Company”) and Morganfield’s Holdings Sdn. Bhd. (“Morganfield’s”), a restaurant chain specializing in comfort food and American-style barbecue, entered into a Worldwide Master License Agreement (the “License Agreement”), in which Morganfield’s granted the Company an exclusive worldwide license to grant sub-licensees to third parties to use Morganfield’s trademarks for the restaurant business.”
Ho Yi Hui was appointed as Executive Director at TREASURE GLOBAL INC.
“Effective March 20, 2023, the Board of Directors of the Company appointed Ho Yi Hui to the position of Executive Director, subject to the terms and conditions set forth in the Executive Director Agreement to be entered into between the Company and Ho Yi Hui.”
Voon Him "Victor" Hoo resigned as Chairman and Managing Director at TREASURE GLOBAL INC.
“Effective March 20, 2023, Voon Him "Victor" Hoo resigned from the Board of Directors of Treasure Global Inc (the "Company"), which includes resignation from his position as Chairman and Managing Director.”
Material Agreements
TREASURE GLOBAL INC entered into Securities Purchase Agreement with YA II PN, Ltd. valued at Aggregate principal amount of up to $5,500,000.00 in unsecured convertible debentures (effective 2023-02-28).
“On February 28, 2023, Treasure Global Inc, a Delaware corporation (the “ Company ”), entered into a Securities Purchase Agreement (the “ Securities Purchase Agreement ”) with YA II PN, Ltd., a Cayman Islands exempt limited partnership (the “ Buyer ”), pursuant to which the Buyer subject to certain closing conditions, agreed to purchase two unsecured convertible debentures (the “ Convertible Debentures ”), in the aggregate principal amount of up to $5,500,000.00 in a private placement (the “ Private Placement ”) for a purchase price with respect to each Convertible Debenture of 92% of the initial principal amount of such Convertible Debenture.”
Auditor Changes
TREASURE GLOBAL INC engaged Marcum Asia CPAs LLP as its auditor.
“On December 5 , 2022, the Audit Committee and the Board of Directors of the Company approved the dismissal of Friedman LLP and the engagement of Marcum Asia CPAs LLP ("Marcum Asia") to serve as the independent registered public accounting firm of the Company.”
Auditor Changes
TREASURE GLOBAL INC dismissed Friedman LLP as its auditor.
“On December 5 , 2022, the Audit Committee and the Board of Directors of the Company approved the dismissal of Friedman LLP and the engagement of Marcum Asia CPAs LLP ("Marcum Asia") to serve as the independent registered public accounting firm of the Company.”
Listing & Compliance Notices
TREASURE GLOBAL INC received a nasdaq deficiency notice notice regarding late filing (rules 5250(c)(1)).
“November 23, 2022, Treasure Global Inc (the “Company”) received a notification letter from The Nasdaq Stock Market LLC (“Nasdaq”) stating that, because the Company has not yet filed its Quarterly Report on Form 10-Q for the period ended September 30, 2022 (the “Form 10-Q”) and because the Company remains delinquent in filing its Annual Report on Form 10-K for the fiscal year ended June 30, 2022 (the “Initial Delinquent Filing”), the Company does not comply with Nasdaq Listing Rule 5250(c)(1). Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financia”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.