CooTek (Cayman) Inc. (NYSE:CTK) ("CooTek" or the "Company"), a global mobile internet company, today updates its status under the Holding Foreign Companies Accountable Act (the "HFCAA").
On May 4, 2022, in connection with its implementation of the HFCAA, the U.S. Securities and Exchange Commission (the "SEC") provisionally named the Company as a Commission-Identified Issuer following the Company's filing of its annual report on Form 20-F for the fiscal year ended December 31, 2021 (the "2021 Form 20-F") with the SEC on April 29, 2022.
The Company understands the SEC made such identification pursuant to the HFCAA, which states if the SEC determines that a company has filed audit reports issued by a registered public accounting firm that cannot be inspected or investigated completely by the Public Company Accounting Oversight Board (the "PCAOB"), for three consecutive years beginning in 2021, the SEC shall prohibit its shares or American depositary shares from being traded on a national securities exchange or in the over-the-counter trading market in the U.S. The Company has previously disclosed that its auditor, the independent registered public accounting firm that issued the audit report included in its 2021 Form 20-F, is identified by PCAOB as one of the registered public accounting firms that the PCAOB is unable to inspect or investigate completely.
The Company will continue to monitor market developments and evaluate all strategic options.