Corporate Governance - The company has established an audit committee, a compensation committee, and a nominating and corporate governance committee to enhance corporate governance[187]. - The audit committee is chaired by Andre Keijsers, who is designated as an "audit committee financial expert" and is responsible for overseeing the integrity of financial statements[189][192]. - The company intends to comply with the heightened independence requirements for all members of the audit committee within the specified time periods following its listing on NYSE American[188]. - The compensation committee is responsible for evaluating the performance of the CEO and determining executive compensation[193]. - The nominating and corporate governance committee will oversee the evaluation of the board of directors and management, ensuring appropriate skills and expertise are present[196]. - The board of directors may establish additional committees as needed to address corporate governance and oversight[187]. Financial Reporting and Compliance - The company has a commitment to transparency and compliance with legal and regulatory requirements related to financial reporting[192]. - The audit committee's responsibilities include reviewing annual and quarterly financial statements and assessing the independence of the independent registered public accounting firm[190][192]. Risk Factors - The company has identified various risk factors that could impact future performance, which are detailed in the Annual Report[15]. - Revenue has primarily been generated in U.S. dollar, U.K. pound sterling, and euro, exposing the company to foreign exchange risk due to fluctuations in these currencies[209]. - The company has not hedged its foreign currency exposure to date and will continue to monitor the impact of foreign exchange risk[209]. - The company is beginning to observe increases in costs of goods sold, particularly in transportation costs, which may harm its business if inflationary pressures persist[204]. Leadership Changes - The company has appointed a new Chief Financial Officer, Mr. Clayborne, who has over 25 years of experience in finance and business development[198].
Perfect Moment(PMNT) - 2024 Q4 - Annual Report