Business Context and Reporting Period
This Form 6-K filing by Integrated Media Technology Ltd, dated June 19, 2023, reports material changes to the Board of Directors and executive officers. The filing does not cover a financial reporting period but serves as a disclosure of corporate governance updates effective as of June 19, 2023.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is strictly a report on personnel changes and contains no financial data.
Material Changes
- Resignation: Ms. Jing Zhuo resigned as a Director and Chief Financial Officer (CFO) effective June 19, 2023. The resignation was not due to any disagreement with the Company regarding operations, policies, or practices.
- Director Appointment: Dr. Zhi-Cheng Xiao was appointed as an independent Director, as well as a member of the Audit Committee and the Nomination and Remuneration Committee, effective June 19, 2023. He meets Nasdaq and U.S. securities law independence requirements.
- Interim CFO Appointment: Mr. Mohd Hazrol Bin Mohd Rosmey was appointed as Interim CFO effective June 19, 2023. He was previously the Financial Controller of the Company's subsidiary in Malaysia.
Outlook, Risks, and Management Commentary
Management expressed sincere appreciation for Ms. Zhuo's contributions. The filing highlights Dr. Xiao's extensive background in neuroscience and academia, noting his role as a Professor at Monash University and his research focus on neurodegenerative diseases. No specific financial guidance, risks, contingencies, or unusual items were disclosed in this filing.
Investor Verification Checklist
- Verify the qualifications and independence status of the newly appointed Director, Dr. Zhi-Cheng Xiao.
- Confirm the transition plan for financial reporting under the new Interim CFO, Mr. Mohd Hazrol Bin Mohd Rosmey.
- Review subsequent filings to determine if a permanent CFO will be appointed or if the interim role will be extended.
- Check for any undisclosed disagreements or operational issues related to the departure of the previous CFO, despite the filing's statement to the contrary.