Subsequent Events

9 Months Ended

Sep. 30, 2021

Subsequent Events

8. Subsequent Events

8. Subsequent Events.

The Company engaged PricewaterhouseCoopers, Taiwan (“PWC”) as independent accountants of Ainos Inc. Taiwan Branch under an engagement agreement dated October 4, 2021 (“Audit Engagement”). The Audit Engagement covers audit services for the years ending December 31, 2021 and 2022 and PWC will issue interfirm audit reports for group reporting purposes to the Company’s group audit firm, PWR CPA, LLP. Additionally, the Company engaged PWC under separate agreements dated October 4, 2021 for PWC to render advisory services in connection to the Company’s internal controls over financial reporting as required under section 404 of the Sarbanes-Oxley Act (“SOX Engagement”) and in respect to compliance with Taiwan corporate income tax requirements for the tax years ending December 31, 2021 and 2022 (“Taiwan Tax Engagement”).

On October 6, 2021, the Company board of directors approved and adopted the following resolutions:

· Effective August 30, 2021, the Board appointed Hsiu-Chen Chiu and Wen-Han Chang to serve on the Compensation Committee;

· Effective August 30, 2021, the Board appointed Yao-Chung Chiang, Wen-Han Chang and Hsiu-Chen Chiu to serve on the Audit Committee;

· Board approval of the Company’s 2021 Employee Stock Purchase Plan, 2021 Stock Incentive Plan, and 2021 Director Compensation Policy and, if required, shall submit the same for formal adoption by a vote of the Company’s shareholders

· Board approval of the Company’s Related Transaction Policy, Hedging Policy, and the Diversity Policy of the Board; and

· Board approval of the Company’s engagement agreements dated October 4, 2021 with PricewaterhouseCoopers, Taiwan (“PWC”)

On November 1, 2021, the Company engaged its former President and CEO, Dr. Stephen T. Chen, as a consultant to assist with its pharmaceutical division. The Company agrees to pay Dr. Chen 50,000 New Taiwan Dollars (NTD) per month for a period of one year for his services. With over 30 years of pharmaceutical professional experience, we expect Dr. Chen to provide technical assistance on our pharmaceutical development initiatives, analyze results from second phase interferon studies for Thrombocytopenia, and contribute to the protocol design of the third phase of interferon development focused on Sjögren’s syndrome. Lastly, we expect that Dr. Chen will provide assistance for our mass commercial production of low-dose interferon products.