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.
公司的董事會於2024年8月22日批准了此舉措，受影響的員工從2024年10月1日起開始被告知此舉措。
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.
暫停公司在中國的運營將涉及宣佈公司的全資子公司休眠，這是根據中國現行法律規定的一個法律實體狀態。在這種法律實體狀態下，運營活動將暫停，但不得超過三年。
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.
通過尋求這種實體狀態，公司將啓動一個項目，以暫停目前的運營活動，預計將在2024年12月31日或之前停止。暫停活動包括處置和運送中國某些設備，終止2名員工及相關福利費用，以及法律實體備案費用。
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.
針對此舉措，公司預計將產生約40萬至50萬美元的費用，主要包括員工解僱費用、設備處置和運送費用，以及法律備案費用。公司預計這些費用將主要發生在2024年第四季度。
