Business Context and Reporting Period
This Form 6-K filing by Huitao Technology Co., Ltd. (a Cayman Islands company) covers the month of April 2020. The document reports on the results of the Company's annual meeting of shareholders held on April 27, 2020, in New York, NY. The filing does not contain financial statements or operational metrics for the period.
Key Financial Metrics
The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity. The only financial figure disclosed relates to a specific transaction approved by shareholders: the sale of a subsidiary for $600,000.
Material Changes and Corporate Actions
- Asset Disposition: Shareholders approved the sale of 100% of the outstanding capital stock of Xin Ao Construction Materials, Inc. (a wholly-owned subsidiary) to Mr. Xianfu Han and Mr. Weili He for $600,000.
- Corporate Name Change: Shareholders approved an amendment to the memorandum and articles of association to change the Company's name from "Huitao Technology Co., Ltd." to "Color Star Technology Co., Ltd."
- Board Elections: Five directors were elected to serve until the 2021 annual meeting: Yang (Sean) Liu, Lili Jiang, Wei Fang, Xiaoyuan Zhang, and Wei Pei.
Shareholder Voting Results
Holders of 9,412,287 ordinary shares (approximately 52% of the 17,970,489 outstanding shares) were present, constituting a quorum.
| Proposal | For | Against | Abstain |
|---|---|---|---|
| Approval of Share Purchase Agreement (Subsidiary Sale) | 9,412,287 | 0 | 0 |
| Election of Directors (All 5 Candidates) | 9,411,802 | 485 | N/A |
| Amendment to Change Company Name | 9,412,287 | 0 | 0 |
Guidance, Outlook, and Risks
The filing does not contain management commentary, financial guidance, outlook, or specific risk factors. It is strictly a report of the shareholder meeting outcomes.
Key Facts for Investor Verification
- Verify the legal completion of the name change to "Color Star Technology Co., Ltd."
- Confirm the closing of the $600,000 transaction for the sale of Xin Ao Construction Materials, Inc.
- Review subsequent filings for financial performance data, as this Form 6-K contains no operational or financial results.
- Monitor the composition of the Board of Directors following the election of the five new directors.