Yang Zhiling Responds to the Dark Side of the Moon Arbitration Case, Clarifying Zhang Yutong's Shareholding Issue for the First Time
Yang Zhiling's Statement on His Departure
In his statement, Yang clarified that when he left Cyclical Technology to establish oonlight's Dark Side all necessary procedures, including the approval of every board member, were followed. He emphasized that his decision was independent and not influenced by any external factors, including the interests of former colleagues or shareholders. Yang's move was a strategic choice to venture into new opportunities, and it was made with full transparency.
Zhang Yutong's Role and Shareholding
One of the key points of controversy has been Zhang Yutong's shareholding in oonlight's Dark Side Yang's statement was the first public clarification on this issue. He revealed that Zhang Yutong had been invited to join the company as a co-founder, a decision that was based on his years of service and contributions to the company. Yang explained that Zhang's shareholding was granted as part of his compensation for the value he brought to the startup over time.
The Nature of Zhang Yutong's Shares
Yang also highlighted that the granting of shares to Zhang was conditional on his continued work with the company and the results he would achieve. This clarification was essential in addressing public concerns about the legitimacy of Zhang's shares, particularly in light of the arbitration case. Yang made it clear that this decision was made without any connection to his departure from Cyclical Technology or the decisions made by certain shareholders who chose not to invest in oonlight's Dark Side
Commitment to Transparency
This response underscores Yang Zhiling's commitment to transparency and to the principles of fairness in managing his company's equity structure. The statement seeks to dispel misconceptions about Zhang Yutong's role and to reassure stakeholders about the independence of founder decisions.
As the arbitration case continues to unfold, it is likely that both the relationship between Yang Zhiling and Zhang Yutong, as well as the equity distribution within oonlight's Dark Side will remain topics of public and legal interest.
Key Points
- Yang Zhiling clarified that his departure from Cyclical Technology was approved by all board members and was independent of external influences.
- Zhang Yutong's shareholding in oonlight's Dark Sidewas granted based on years of service and continued contributions to the company.
- Yang emphasized that the decision to grant Zhang shares was not related to his own departure or shareholder decisions regarding investment.