ClearSign Suspends Operations In China Due To Delayed Progress On Commercialization Of Its Products And As Part Of Efforts To Align Strategic Priorities And To Reduce Operating Costs - Filing
ClearSign Suspends Operations In China Due To Delayed Progress On Commercialization Of Its Products And As Part Of Efforts To Align Strategic Priorities And To Reduce Operating Costs - Filing
In connection with this action, the Company estimates that it will incur approximately $400,000 to $500,000 of costs, primarily consisting of employee termination payments, as well as equipment disposal and shipment and legal filing fees. The Company expects that these charges will be incurred primarily in the fourth quarter of 2024.The Company's board of directors approved such action on August 22, 2024, and the affected employees were informed of this action beginning on October 1, 2024.
公司的董事会于2024年8月22日批准了此举措，受影响的员工从2024年10月1日起开始被告知此举措。
The suspension of the Company's operations in China will involve declaring the Company's wholly-owned subsidiary dormant, which is a legal entity status available under current China law. Under this legal entity status, operational activities cease for a time period not to exceed three years.
暂停公司在中国的运营将涉及宣布公司的全资子公司休眠，这是根据中国现行法律规定的一个法律实体状态。在这种法律实体状态下，运营活动将暂停，但不得超过三年。
By pursuing this entity status, the Company will initiate a project to suspend current operational activities, which are estimated to cease on or before December 31, 2024. Suspension activities include disposal and shipment of certain equipment in China, the termination of 2 employees and related benefit costs, and legal entity filing fees.
通过寻求这种实体状态，公司将启动一个项目，以暂停目前的运营活动，预计将在2024年12月31日或之前停止。暂停活动包括处置和运送中国某些设备，终止2名员工及相关福利费用，以及法律实体备案费用。
In connection with this action, the Company estimates that it will incur approximately $400,000 to $500,000 of costs, primarily consisting of employee termination payments, as well as equipment disposal and shipment and legal filing fees. The Company expects that these charges will be incurred primarily in the fourth quarter of 2024.
针对此举措，公司预计将产生约40万至50万美元的费用，主要包括员工解雇费用、设备处置和运送费用，以及法律备案费用。公司预计这些费用将主要发生在2024年第四季度。