On April 1, 2017, Norman Ko resigned as a member of the Board of Directors, including his Audit Committee and Compensation Committee chairmanships, of EFT Holdings, Inc., effective as of such date. Mr. Ko indicates in his resignation letter that the demands of his growing accounting practice now require his full-time attention. Following the resignation of Norman Ko, on April 24, 2017, the company's remaining directors, Jack Jie Qin and Visman Chow, elected Hu Xiaoboa as a Director of the company, to fill the existing vacancy on the board of directors. Mr. Hu Hiaoboa, 77, was, from 2004 to 2015, a partner in the U.S. venture capital firm iGlobe Partners, where he established and managed a portfolio of successful investments.