Bitcoin price today: falls to 2-week low below $113k ahead of Fed Jackson Hole
Yoshiharu Global Co. (NASDAQ:YOSH), a $20 million market cap company specializing in the retail food sector, announced the immediate departure of independent director Jay Kim from its Board of Directors and all committees, effective February 13, 2025. The company, which has seen revenue growth of 26% over the last twelve months despite challenging market conditions, reported the resignation in a recent SEC 8-K filing.
Kim, who served as a member of the audit committee and chaired the compensation committee, resigned without citing any disagreements with the company’s operations, policies, or practices, whether financial or otherwise. The announcement was made without the appointment of a successor, leaving a vacancy on the Board and its committees.
The company, headquartered in Buena Park, California, has not provided further details on the reasons behind Kim’s departure or on plans for filling the now vacant Board position. Currently trading at $11.82, the stock has shown significant momentum, delivering a 260% return year-to-date and trading near its 52-week high of $16.50. According to InvestingPro, the company maintains a FAIR financial health score, though it operates with considerable debt obligations.
This development comes as the company continues to navigate the competitive retail eating places sector, with corporate governance and oversight being crucial components of its strategic operations. The news of Kim’s resignation is based on the formal statement filed with the SEC and does not include any additional commentary or speculation from the company. For deeper insights into YOSH’s governance metrics and 12 additional ProTips, consider subscribing to InvestingPro.
Investors and stakeholders of Yoshiharu Global Co. are now awaiting further announcements regarding the Board’s composition and any potential impact this change may have on the company’s governance, particularly given its current negative EBITDA of $2.65 million and the challenges in maintaining profitable operations.
In other recent news, Yoshiharu Global Co. held its annual meeting of stockholders, where several significant decisions were made. The stockholders re-elected James Chae, Jay Kim, Harinne Kim, and Yusil Yeo to the Board of Directors, with each nominee receiving over 1.7 million votes in favor. Additionally, BCRG Group was ratified to continue as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2024, with overwhelming support.
Stockholders also approved three proposals related to the potential issuance of more than 19.99% of Yoshiharu Global’s Class A Common Stock, in compliance with Nasdaq Listing Rule 5635. The first proposal, involving a Securities Purchase Agreement with Alumni Capital LP, passed with significant approval, while the second and third proposals concerning a common stock purchase agreement and a convertible promissory note were similarly approved. These approvals enable Yoshiharu Global to advance its financing plans, likely involving substantial equity transactions by the end of the year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.