Dear Shareholders,
We announced three months ago about the future shares swap dealings with Dr. Charlie In for his Raffles Financial Group (RFG) shares. The management noted at that time that RFG listings are in ceased order due to financial audit issues. In the agreement signed, we included a term stating that we will only proceed with shares swap once audit issues have been resolved.
We were informed that RFG is now appointing a new auditor and it may take more months to get it done. In this regard, we don't see the shares swap happening anytime soon.
Another deal signed was the collaboration between Dr, Chalie, and LHGI.
We have prepared and sent a copy of the Private Placement Agreement to Dr. Charlie 3 weeks ago to kick off their fundraising. But, their team has not come back to us with firm funding yet.
We are also aware that LHGI is now in yield sign and has entered into a grace period status in the OTC Markets. To keep us back to Pink Current, we need to submit our 2021 FR for compliance. Our reports are all ready for submission but our current access to OTCIQ has been canceled for now due to non-payment of our listing fee. Hence, putting us also in a grace period status.
Our current financial report, which is the 2021 annual report can be viewed on our website:
Investors | lighthouseglobal (lhgincorp.com)
While we have signed an agreement with Dr. Charlie, as the new investor, the funds have not come in yet. Meanwhile, we are left with no options but to leave it as is until the new investor/ company takes over.
Thank you,
Regards,
Danny Lim
