STOCK TITAN

CFO and three directors quit Perfect Moment (NYSE American: PMNT)

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Perfect Moment Ltd. reported significant leadership changes and a stock exchange move. Chief Financial Officer and Chief Operating Officer Chath Weerasinghe, who also serves as principal financial and accounting officer, has submitted his resignation effective three months after June 11, 2026 in line with Swiss law. The Board is discussing his compensation for this period, with the compensation committee to decide later.

Three non-executive directors — Tim Nixdorff, Berndt Hauptkorn, and Adam Epstein — resigned between June 11 and June 13, 2026. The company states that Nixdorff and Hauptkorn resigned over disagreements with management and the Board about strategic direction, while Epstein resigned over disagreements regarding corporate governance. Their departures affect the Nominating and Corporate Governance, Compensation, and Audit Committees. Perfect Moment also notes that, effective June 18, 2026, its common stock will move from the NYSE American to the OTCQB market.

Positive

  • None.

Negative

  • Three non-executive directors resigned in quick succession, citing disagreements over the company’s strategic direction and corporate governance, reducing continuity on the Audit, Compensation, and Nominating and Corporate Governance Committees.
  • The company’s common stock will move from NYSE American to the OTCQB market effective June 18, 2026, marking a downgrade from a national exchange listing.

Insights

Multiple leadership exits and a market downgrade signal governance strain.

Perfect Moment Ltd. is facing concurrent leadership and board changes. The CFO/COO and principal financial and accounting officer has given three months' notice from June 11, 2026, while three non-executive directors have resigned effective immediately on consecutive days.

The company discloses that two directors left over disagreements on strategic direction and one over corporate governance. These directors sat on key committees, including the Audit, Compensation, and Nominating and Corporate Governance Committees, so their departures directly affect oversight structures.

In parallel, the common stock is scheduled to move from the NYSE American to the OTCQB on June 18, 2026. Taken together, the leadership turnover, governance-related disagreements, and transition to an OTC market are likely to be viewed as adverse developments, though the filing does not quantify any financial impact.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
CFO notice date June 11, 2026 Resignation notice date for CFO/COO and principal financial and accounting officer
CFO notice period three months Resignation effective three months from June 11, 2026 under Swiss law
Number of directors resigning 3 directors Non-executive directors resigned between June 11 and June 13, 2026
OTCQB listing effective date June 18, 2026 Common Stock to be listed on OTCQB, moving from NYSE American
Emerging growth company regulatory
"Emerging growth company 1 Effective on June 18, 2026, the Company’s Common Stock"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
OTCQB market
"Effective on June 18, 2026, the Company’s Common Stock will be listed on the OTCQB."
OTCQB is a tier of the over‑the‑counter (OTC) market where smaller or developing companies list their shares for trading without being on a major stock exchange. Think of it like a well‑kept side street market: companies must meet basic reporting and transparency checks so investors get more information than the lowest OTC tier, but trading is usually less liquid and riskier than on big exchanges. Investors care because OTCQB listings can offer early access to growth stories but come with higher price swings and greater chance of limited resale options.
corporate governance financial
"Mr. Epstein’s resignation was a result of disagreements with members of the Company’s management and the Board related to the Company’s corporate governance."
Corporate governance is the system of rules, roles and oversight that determines how a company is directed and controlled, including the responsibilities of its board, executives and shareholders. Like the steering wheel and map for a car trip, it shapes decisions, sets checks on power and defines who can hold leaders accountable; strong governance reduces risk, builds trust and helps investors judge whether a company is likely to protect capital and deliver reliable returns.
Nominating and Corporate Governance Committee financial
"At the time of his resignation, Mr. Nixdorff served on the Board’s Nominating and Corporate Governance Committee and Compensation Committee."
A nominating and corporate governance committee is a group within a company's board of directors responsible for selecting and recommending individuals to serve as company leaders, such as directors or executives. They also develop and oversee policies to ensure the company is run fairly, ethically, and transparently. This committee matters to investors because it helps ensure the company is well-managed and guided by qualified, responsible leadership.
Audit Committee financial
"At the time of his resignation, Mr. Hauptkorn served on the Board’s Nominating and Corporate Governance Committee and Audit Committee"
A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.
See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
false 0001849221 0001849221 2026-06-11 2026-06-11 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

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 Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 11, 2026

 

PERFECT MOMENT LTD.

(Exact name of registrant as specified in its charter)

 

Delaware   001-41930   86-1437114

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

244 5th Ave Ste 1219

New York, NY 10001

(Address of principal executive offices, with zip code)

 

315-615-6156

(Registrant’s telephone number, including area code)

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

 

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))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, par value $0.0001 per share   PMNT   NYSE American LLC1

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

1 Effective on June 18, 2026, the Company’s Common Stock will be listed on the OTCQB.

 

 

 

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

Resignation of Chath Weerasinghe as Chief Financial Officer and Chief Operating Officer of the Company:

 

On June 11, 2026 (the “Notice Date”), Chath Weerasinghe notified Perfect Moment Ltd. (the “Company”) that he will be resigning from his position as the Company’s Chief Financial Officer, Chief Operating Officer and principal financial and accounting officer, effective three months from the Notice Date in accordance with applicable Swiss law. The Board of Directors of the Company (the “Board”) is discussing his compensation, and the Company’s compensation committee plans on meeting at a later date to determine the compensation that will be paid to Mr. Weerasinghe during this three-month period.

 

Resignation of Tim Nixdorff as a director of the Company:

 

On June 11, 2026, Tim Nixdorff notified the Company of his resignation as a director of the Company. Mr. Nixdorff’s resignation was a result of disagreements with members of the Company’s management and the Board related to the Company’s strategic direction. A copy of such correspondence is attached as Exhibit 99.1 hereto and is incorporated by reference herein. At the time of his resignation, Mr. Nixdorff served on the Board’s Nominating and Corporate Governance Committee and Compensation Committee.

 

Resignation of Berndt Hauptkorn as a director of the Company:

 

On June 12, 2026, Berndt Hauptkorn notified the Company of his resignation as a director of the Company. Mr. Hauptkorn’s resignation was a result of disagreements with members of the Company’s management and the Board related to the Company’s strategic direction. A copy of such correspondence is attached as Exhibit 99.2 hereto and is incorporated by reference herein. At the time of his resignation, Mr. Hauptkorn served on the Board’s Nominating and Corporate Governance Committee and Audit Committee

 

Resignation of Adam Epstein as a director of the Company:

 

On June 13, 2026, Adam Epstein notified the Company of his resignation as a director of the Company. Mr. Epstein’s resignation was a result of disagreements with members of the Company’s management and the Board related to the Company’s corporate governance. A copy of such correspondence is attached as Exhibit 99.3 hereto and is incorporated by reference herein. At the time of his resignation, Mr. Epstein served on the Board’s Nominating and Corporate Governance Committee and Audit Committee

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.   Description
99.1*   Resignation letter of Tim Nixdorff, received June 11, 2026
99.2*   Resignation letter of Berndt Hauptkorn, received June 12, 2026
99.3   Resignation letter of Adam Epstein, received June 13, 2026
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

* Portions of the exhibit have been omitted.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

Date: June 16, 2026 PERFECT MOMENT LTD.
   
  By: /s/ Jane Gottschalk
    Jane Gottschalk
    President

 

 

 

Exhibit 99.1

 

Certain identified information has been excluded from the exhibit because it is both (i) not material and (ii) private and confidential. Information that has been omitted from the exhibit are indicated with brackets.

 

From: Tim Nixdorff <[*****]>

 

Sent: Thursday, June 11, 2026

 

To: Max Gottschalk <[*****]>

 

Cc: Jane Gottschalk <[*****]>, Kristy Marvin <[*****]>, Andre Keijsers <[*****]>, Berndt Hauptkorn <[*****]>, Adam Epstein <[*****]>

 

Subject: Resignation from Board of Directors of Perfect Moment Ltd.

 

 

 

Dear Max,

 

In light of recent developments and the apparent disagreements regarding the direction of the company, I have decided to step down from the Board, effective immediately.

 

As a consequence, please accept this email as my formal resignation as a director of Perfect Moment Ltd., including from all committees of the Board on which I serve, effective immediately as of June 11, 2026.

 

For clarity, this resignation applies to my position as a non-executive director of Perfect Moment Ltd. and to any related Board committee memberships, including the Compensation Committee and the Nominating and Corporate Governance Committee.

 

Please confirm receipt of this resignation and let me know if any further documentation or formalities are required from me.

 

Naturally, I wish you guys and the company only the best, I hope you can turn it around.

 

@ Kristy: Would you please also send written confirmation of receipt. I am obviously available for any required correspondence.

 

All my best,


Tim Nixdorff

 

 

 

 

 

Exhibit 99.2

 

Certain identified information has been excluded from the exhibit because it is both (i) not material and (ii) private and confidential. Information that has been omitted from the exhibit are indicated with brackets.

 

From: Berndt Hauptkorn <[*****]>,

 

Sent: Friday, June 12, 2026

 

To: Max Gottschalk <[*****]>, Jane Gottschalk <[*****]>, Kristy Marvin <[*****]>, Andre Keijsers <[*****]>, Adam Epstein <[*****]>

 

Subject: Resignation from Board of Directors of Perfect Moment Ltd.

 

 

 

Dear Max,

 

I have decided to immediately step down from the Board of Perfect Moment Ltd. and am sending this email to you in your capacity as Chairman of the Board of Perfect Moment Ltd.

 

As a consequence, please accept this email as my formal resignation as a director of Perfect Moment Ltd., including from all committees of the Board on which I serve, effective immediately as of June 12, 2026.

 

For for the avoidance of doubt, this resignation applies to my position as a non-executive director of Perfect Moment Ltd. and to any related Board committee memberships, including the Audit Committee and any other Committee or Sub-Committee.

 

Please exclude my name from any existing or future public communication and board materials, investor presentations, marketing documentation and any similar documentations.

 

Please confirm receipt of this resignation and let me know if any further documentation or formalities are required.

 

Dear Kristy,

 

Would you please also send written confirmation of receipt. I am obviously available for any required correspondence.

 

Best Wishes,


Berndt Hauptkorn

 

 

 

 

 

Exhibit 99.3

 

Dear Members of the Board:

 

I hereby resign from the Board of Directors of Perfect Moment Ltd. effective June 12, 2026.

 

My resignation results from disagreements regarding corporate governance.

 

Sincerely,

Adam Epstein

 

 

FAQ

What leadership changes did Perfect Moment Ltd. (PMNT) disclose in this 8-K?

Perfect Moment Ltd. reported that CFO, COO, and principal financial and accounting officer Chath Weerasinghe will resign effective three months after June 11, 2026. Additionally, three non-executive directors—Tim Nixdorff, Berndt Hauptkorn, and Adam Epstein—resigned in mid-June 2026.

Why did Perfect Moment Ltd. directors resign according to the filing?

The filing states that Tim Nixdorff and Berndt Hauptkorn resigned due to disagreements with management and the Board about the company’s strategic direction, while Adam Epstein resigned over disagreements regarding corporate governance, based on their resignation correspondence attached as exhibits.

Which board committees at Perfect Moment Ltd. were affected by the resignations?

At the time of resignation, Tim Nixdorff served on the Compensation and Nominating and Corporate Governance Committees. Berndt Hauptkorn served on the Nominating and Corporate Governance and Audit Committees, and Adam Epstein served on the Nominating and Corporate Governance and Audit Committees.

When will Perfect Moment Ltd. move its stock listing to the OTCQB?

The company states that, effective June 18, 2026, its common stock will be listed on the OTCQB. This follows its prior listing on the NYSE American and indicates a transition from a national exchange to an over-the-counter market.

What is the effective date of the CFO resignation at Perfect Moment Ltd.?

CFO and COO Chath Weerasinghe notified the company on June 11, 2026 that he will resign. Under applicable Swiss law and the filing’s description, his resignation becomes effective three months from that notice date, covering a defined transition period.

How will Perfect Moment Ltd. handle CFO compensation during the notice period?

The filing explains that the Board is discussing Chath Weerasinghe’s compensation for the three-month notice period. The company’s compensation committee plans to meet later to determine the compensation that will be paid to him during this transition timeframe.

Filing Exhibits & Attachments

6 documents