Current Report Filing (8-k)
February 06 2023 - 6:47AM
Edgar (US Regulatory)
0000934796
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0000934796
2023-02-01
2023-02-01
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xbrli:shares
iso4217:USD
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest event Reported):
February 1, 2023, (February 6, 2023)
NETWORK CN INC.
(Exact Name of Registrant as Specified in Charter)
Delaware |
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000-30264 |
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90-0370486 |
(State or Other Jurisdiction
of Incorporation) |
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(Commission File Number) |
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(I.R.S. Employer
Identification No.) |
Unit 705B, 7th Floor, New East Ocean Centre, 9 Science Museum Road,
TST, KLN, Hong Kong
(Address of Principal Executive Offices)
(Zip Code)
852-9625 0097
(Registrant's telephone number, including area code)
_____________________________________________________
(Former name, former address and former fiscal
year, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
o Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act: NONE
Title of each class |
Trading Symbol(s) |
Name of each exchange on which
registered |
Common Stock, $0.001 par value |
NWCN |
OTC market |
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o |
|
If an emerging growth company, indicate by check mark if
the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. o
Item 3.02 Unregistered Sales of Equity Securities.
On February 1, 2023, Network CN Inc. (“the
Company”) agreed to issue 606,881 restricted shares of the Company’s common stock to the employee, Chen Zhu. On October 1,
2022, NCN (Ningbo) Culture Media Co., Ltd (“NCN Ningbo”), a wholly foreign-owned enterprise in Ningbo, China of the Company entered
into an employment contract with Chen Zhu (“the employee”) under which the employee agreed to bring in the advertising rights
in Ningbo to the Company and the Company will reward him for 606,881 shares of the Company’s common stock. Pursuant to the terms
of employment contract, if the employee can achieve the annual sales and profit before tax goal in 2023 and 2024, the Company will issue
bonus shares of 303,441 and 303,441 restricted shares of the Company’s common stock to the employee, respectively.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: February 6, 2023
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NETWORK CN INC. |
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By: /s/ Earnest Leung |
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Earnest Leung |
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Chief Executive Officer |
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