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EX-10.1 - EXHIBIT 10.1 - Takung Art Co., Ltd.tm2030968d1_ex10-1.htm

 

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): September 16, 2020 (September 16, 2020)

 

 

 TAKUNG ART CO., LTD

(Exact name of registrant as specified in its charter)

  

Delaware   001-38036   26-4731758

(State or other jurisdiction

of incorporation)

 

 

(Commission

File Number)

 

 

(IRS Employer

Identification No.)

 

 

Room 1105 Wing On Plaza, 62 Mody Road, Tsim Sha Tsui, Kowloon, Hong Kong

(Address of Principal Executive Offices)

Registrant’s telephone number: +852 3158 0977

 

(Former name or former address, 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):

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨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:

 

Title of each class Trading Symbol(s) Name of each exchange on which registered

 

Common Stock, par value $0.001 per share

 

TKAT

 

NYSE American

 

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  ¨

 

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.  ¨

 

 

 

 

Item 1.01 Entry into a Material Definitive Agreement.

 

On September 16, 2020, Takung Art Co., Ltd (the “Company”)’s wholly-owned Hong Kong subsidiariary, Hong Kong Takung Art Company Limited entered into a consulting agreement (the “Agreement”) with the Company’s former Chief Executive Officer, Ms. Fang Mu. The Agreement will have a valid term from September 16, 2020 though September 15, 2021, renewable automatically for successive one month terms if both parties do not terminate the Agreement. Ms. Mu’s consulting services include providing consulting services to the clients of the Company, administration and human resources management and financial and accounting management. In consideration for providing such services, Ms. Mu will be paid a consulting fee of HK$40,000 (approximately $5,161) per month.

 

This description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement, which is attached hereto as Exhibit 10.1 and incorporated by reference herein.

 

Item 9.01 Financial Statements and Exhibits.

 

(d)Exhibit

 

No.Description

 

10.1Consulting Agreement between Hong Kong Takung Art Company Limited and Ms. Fang Mu dated September 16, 2020.

 

 

 

 

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.

 

   
  Takung Art Co., Ltd
   
Date:  September 16, 2020  
   
 

/s/ Jiang Wang 

  Name: Jiang Wang
  Title:   Chief Financial Officer