Brief: TuSimple - Based On Info Got In Connection With Investigation By Audit Panel, In 2021 Co's Employees Spent Paid Hours Working On Matters For Hydron

CreateAl Holdings

31/10/2022 10:21

Oct 31 (Reuters) - TuSimple Holdings Inc  TSP.O :
    * TUSIMPLE - BASED ON INFO GOT IN CONNECTION WITH
INVESTIGATION BY
AUDIT COMMITTEE, IN 2021 CO'S EMPLOYEES SPENT PAID HOURS WORKING
ON MATTERS FOR HYDRON
    * TUSIMPLE HOLDINGS - PAID HOURS WORKING ON MATTERS FOR
HYDRON IN
2021 HAD AN ESTIMATED VALUE OF LESS THAN $300,000
    * TUSIMPLE - BELIEVES IN 2022, IN CONNECTION WITH EVALUATION
OF
HYDRON AS POTENTIAL OEM PARTNER, CO SHARED CONFIDENTIAL
INFORMATION WITH HYDRON, PARTNERS
    * TUSIMPLE - CONFIDENTIAL INFORMATION SHARED WITH HYDRON &
ITS
PARTNERS WAS NOT BROUGHT TO ATTENTION OF AUDIT COMMITTEE &
GOVERNMENT SECURITY COMMITTEE
    * TUSIMPLE HOLDINGS - AFTER INFORMATION WAS DISCLOSED,
COMPANY
ENTERED INTO A NON-DISCLOSURE AGREEMENT WITH HYDRON THAT COVERED
INFORMATION
    * TUSIMPLE HOLDINGS - COMPANY DOES NOT KNOW WHETHER HYDRON
SHARED,
OR PUBLICLY DISCLOSED, INFORMATION BEFORE ENTERING INTO
AGREEMENT
    * TUSIMPLE - BELIEVES BASED ON AUDIT COMMITTEE'S ONGOING
INVESTIGATION INFORMATION SHARED IS NOT RELATED TO INTANGIBLE
ASSETS/PATENTS REFLECTED ON BALANCE SHEET
    * TUSIMPLE HOLDINGS INC - AT THIS TIME, COMPANY HAS NOT BEEN
ABLE
TO DETERMINE VALUE, IF ANY, OF SUCH INFORMATION

Further company coverage:  TSP.O 
 ((Reuters.Briefs@thomsonreuters.com;))