Business Context and Reporting Period
This Form 6-K is filed by Dragon Victory International Limited (the "Company"), a Cayman Islands exempted company, for the month of March 2021. The filing date is March 19, 2021. The document serves as an explanatory note to clarify home country rule exemption disclosures previously included in the Company's Form 20-F for the fiscal year ended March 31, 2020.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a corporate governance clarification and does not contain financial statements or performance data.
Material Changes
There are no material changes to financial performance or operations reported in this filing. The document reiterates that, except for the specific exemption noted below, there are no material differences in the Company's corporate governance practices compared to U.S. domestic companies under NASDAQ listing standards.
Guidance, Outlook, and Corporate Governance
Corporate Governance Exemption: Pursuant to the home country rule exemption under NASDAQ Listing Rule 5615, the Company elected to be exempt from the requirement under NASDAQ Listing Rule 5635 to obtain shareholder approval for the issuance of 20% or more of its outstanding ordinary shares.
Outlook and Risks: The filing text does not provide guidance, outlook, management commentary on future performance, or specific risk factors beyond the governance exemption context.
Investor Verification Checklist
- Verify the Company's current status regarding the NASDAQ Listing Rule 5635 exemption for share issuances.
- Review the original Form 20-F for the fiscal year ended March 31, 2020, to understand the full context of the home country rule exemption.
- Confirm that no other material differences exist between the Company's governance practices and NASDAQ standards.