CEO Albert Wong Discloses 39.9% Beneficial Ownership, Solidifying Control
Summary
CEO Albert Wong has disclosed a beneficial ownership of 39.9% of ordinary shares, including convertible preferred shares, reinforcing his significant control over the company.
Key Events
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CEO's Beneficial Ownership
Albert Wong, CEO and Chairman, beneficially owns 5,446,000 ordinary shares, representing 39.9% of the company's outstanding ordinary shares (assuming conversion of 1,000,000 preferred shares).
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Recent Stock Award
Mr. Wong received a stock award of 180,000 ordinary shares on March 31, 2026, valued at approximately $169,020 based on today's stock price. This follows the 6-K filing on April 3, 2026, which reported a broader grant.
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Significant Voting Power
Mr. Wong also owns 1,000,000 preferred shares, each carrying 10 votes at general meetings, further enhancing his control.
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Controlled Entity Holdings
Eastern Worldwide Logistics Group Inc., 70% owned by Mr. Wong, holds an additional 4,266,000 ordinary shares, representing 34.2% of the class.
Analysis
This Schedule 13D filing clarifies that CEO and Chairman Albert Wong beneficially owns 39.9% of Eastern International Ltd.'s ordinary shares, including a recent stock award and convertible preferred shares. This substantial ownership stake, combined with his control over Eastern Worldwide Logistics Group Inc., indicates a high degree of insider control and alignment with the company's long-term interests. Investors should note the concentrated ownership structure and the enhanced voting power of the preferred shares.
At the time of this filing, ELOG was trading at $0.94 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $11.3M. The 52-week trading range was $0.80 to $3.60. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.