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 AND EXCHANGE ACT OF 1934
Date of report (date of earliest event reported): December 28, 2012
DEHAIER MEDICAL SYSTEMS LIMITED
(Exact name of registrant as specified in its charter)
British Virgin Islands | 001-34661 | Not Applicable | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
Room 501, 83 Fuxing Road
Haidian District, Beijing 100856
People’s Republic of China
(Address of principal executive offices)
Registrant’s telephone number, including area code: (8610) 5166-0080
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
¨ | 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)) |
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
Items 5.02(b) and 5.02(c)
Effective December 28, 2012, the Registrant announced the internal promotion of several officers within the company. The following table lists the positions held by each individual before and after December 28, 2012. All of the changes were effective on December 28, 2012.
Name | Prior Position | New Position | ||
Aileen Qi |
Chief Financial Officer (Principal Financial and Accounting Officer) |
Vice President | ||
Charles Li | Internal Controls Manager |
Chief Financial Officer (Principal Financial and Accounting Officer) |
Jingli (Charles) Li
Chief Finance Executive
Age – 27
With Dehaier since 2010
Mr. Li is very familiar with US GAAP, China GAAP and the Sarbanes-Oxley Act and has supported Dehaier with the establishment of internal control system and procedures since November 2010. He previously worked as senior auditor in KPMG Huazhen Beijing from September 2008 through November 2010 with extensive experience in audit methods and internal controls as well as financial management. Mr. Li earned his bachelor degree in Economics at Beijing University of Technology in 2008 and is a member of the Internal Control Institute as a Certified Internal Control Specialist.
Yanying (Aileen) Qi
Vice President
Age – 33
With Dehaier since 2004
Ms. Qi is familiar with US GAAP and PRC GAAP reporting and has assisted Dehaier with the Company’s IPO and ongoing accounting reporting responsibilities. Prior to joining Dehaier, Ms. Qi served for three years as Financial Manager at Singapore Shoubiao Company Ltd. Ms. Qi earned dual degrees in accounting and finance at Renmin University in China.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) | Exhibits. |
99.1 | Press release dated January 4, 2013 titled “Dehaier Medical Announces Management Change.” |
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
DEHAIER MEDICAL SYSTEMS LIMITED | ||
By: | /s/ Ping Chen | |
Ping Chen | ||
Chief Executive Officer |
Dated: January 4, 2013
Dehaier Medical Announces Management Change
Beijing, January XX, 2013- Dehaier Medical Systems Ltd. (NASDAQ: DHRM) ("Dehaier" or the "Company"), an emerging leader in the development, assembly, marketing and sale of medical devices and homecare medical products, today announced that the interim CFO, Mr. Aileen Qi, has been appointed as Vice President of Finance and Operations, effective immediately. Mr. Charles Li has been appointed as the Company’s CFO.
Mr. Li worked as senior auditor in KPMG Huazhen Beijing for two years with extensive experience in audit schemes and internal control as well as financial management. He is very familiar with US GAAP, China GAAP and the Sarbanes-Oxley Act. He joined in Dehaier in 2010 as the company’s internal control manager and has been instrumental in the establishment of Dehaier's internal control process and system.
Mr. Ping Chen, Chairman and Chief Executive Officer of Dehaier Medical said, “These changes demonstrate our increased focus on strategic execution and allow us to leverage Aileen’s and Charles’ experience and resources in new ways. Aileen’s experience as the interim CFO has prepared her well to take charge of finance on the operational side, and Charles’ efforts at improving and overseeing our internal controls provide a strong foundation to manage the finances and accounting of the Company.”
About Dehaier Medical Systems Ltd.
Dehaier is an emerging leader in the development, assembly, marketing and sale of medical products, including respiratory and oxygen homecare medical products. The company develops and assembles its own branded medical devices and homecare medical products from third-party components. The company also distributes products designed and manufactured by other companies, including medical devices from IMD (Italy), Welch Allyn (USA), HEYER (Germany), Timesco (UK), eVent Medical (US) and JMS (Japan). Dehaier's technology is based on six patents, ten software copyrights and proprietary technology. More information may be found at http://www.dehaier.com.cn
Forward-looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, government approvals or performance, and underlying assumptions and other statements that are other than statements of historical facts, including in particular any implications regarding internal management change. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, future developments in payment for and demand for medical equipment and services, implementation of and performance under the joint venture agreement by all parties, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Contact Us
Dehaier Medical Systems Limited
Surie Liu
+86 10-5166-0080
lius@dehaier.com.cn
Dehaier Medical Systems Limited
Tina He
+86 10-5166-0080
hexw@dehaier.com.cn