Takung Art Co. Q4 revenue down 17.7% YoY to $4.8mln

• Takung Art Co. establishes audit committee for financial oversight • Committee to review financial reports, internal controls and auditor independence • Committee to assist the Board of Directors in fulfilling its general oversight responsibilities • Committee's primary function is to represent and assist the Board of Directors • Committee to review the quality and integrity of the financial reports provided by the Corporation • Committee to review the Corporation's systems of disclosure controls and procedures • Committee to review the Corporation's internal controls over financial reporting • Committee to review the Corporation's auditing, accounting and financial reporting processes generally • Committee to review the independence, qualifications, and performance of the Corporation's independent auditor • Committee to assist the Board of Directors in fulfilling its general oversight responsibilities