STOCKHOLDERS’ EQUITY |
12 Months Ended |
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Dec. 31, 2022 | |
Equity [Abstract] | |
STOCKHOLDERS’ EQUITY | 15. STOCKHOLDERS’ EQUITY
Preferred stock
As of December 31, 2022 and 2021, there were preferred stocks authorized but were issued and outstanding.
Common stock
As of December 31, 2022 and 2021, there were common stocks authorized, and shares issued and outstanding, respectively.
In December 2021, there were share forfeiture agreements (the “Share Forfeiture Agreements”) between the Company and (i) HKC Talent Limited; (ii) various shareholders of the Company (the “Forfeiting Shareholders”), pursuant to which: (i) HKC Talent Limited had agreed to forfeiture of Mr. How Kok Choong, the CEO and director of the Company, is a shareholder. As a result, the outstanding shares was reduced by shares of common stock. shares of common stock of the Company, and (ii) the Forfeiting Shareholders had agreed to forfeiture, in aggregate, shares of common stock of the Company. Included in (ii) is shares forfeited from HKC Holdings Sdn. Bhd, a company in which
A share forfeiture agreement (the “Share Forfeiture Agreement”) dated January 20, 2022, between the Company and Mr. How Kok Choong, the CEO and director of the Company, pursuant to which Mr. How Kok Choong agreed to forfeit shares of common stock of the Company. As a result, the outstanding shares was reduced by shares of common stock.
There were stock options, warrants or other potentially dilutive securities outstanding as of December 31, 2022 and 2021.
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