Cash Position
The company is cashflow positive based on quarterly cash flow of 0.00
Commentary on Financial Condition
Based on the provided financial data, the company had cash and cash equivalents of RMB 127,861 (approximately US$18,220) as of September 30, 2024. Their current liabilities are significantly higher than their current assets, indicating a challenging financial condition. The company is experiencing a net loss, although it has improved compared to the previous year. Without specific guidance from the company on cash burn rate or future cash inflows, it's difficult to precisely determine how long their cash will last. However, given the high liabilities and ongoing losses, they may need to secure additional funding or improve their revenue streams to sustain operations in the long term. --Filed At 11/25/2024
Former Symbols
Nasdaq Compliance
Date
Deficiency
Market
Status
Notes
Previous Splits
Date
Split
4/28/2025
4 to 1
6/13/2024
20 to 1
Shelf
ATM
Title | ATM Remaining | Offering Amt | Exp Date | Shr Amt | Bank | Date | Type | |
|---|---|---|---|---|---|---|---|---|
September 2024 ATM | $20,000,000.00 | $20.00 M | - | - | A.G.P./Alliance Global Partners | Sep 10, 2024 | 424B5 |
Warrants
Title | Registered | Remaining Warrants | Ex Price | Cost Basis | Total Warrants | Owners | Bank | Price Protection | Details | Exercisable Date | Expiration Date | Filed Date | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
March 2025 - Warrants to Purchase ADSs | Registered | 1,875,000 | $3.16 | - | 1,875,000 | - | Customary Anti-Dilution | The warrants are subject to anti-dilution adjustments and may be cashless exercised under limited circumstances. | Mar 31, 2025 | Mar 31, 2030 | Mar 31, 2025 | ||
March 2024 - Warrants | Registered | 59,524 | $119.20 | - | 59,524 | N/A | N/A | - | - | Mar 15, 2024 |
Convertibles
Title | Registered | Shares Remaining | Cv Price | $ Amt Remaining | Total $ Amt | Owners | Bank | Price Protection | Details | Convertible Date | Maturity Date | Filed Date | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
October 2024 - Convertible Note Exchange with LMR (Convertible beginning 1/20/25)- Conversion price calculated as 90% of the average trading price of the shares over a specific period before a set date. Initially, this period is the 30 days before January 20, 2025. After that, the conversion price is recalculated every quarter based on the average trading price over the previous 90 days, but it can't go below a certain minimum price, known as the "Floor Price" which is $1 | Not Registered | 2,187,500 | $16.00 | $35,000,000.00 | $35,000,000.00 | LMR Multi-Strategy Master Fund Limited | Variable Rate | The conversion price is 90% of the average trading price of shares over 30 days before January 20, 2025. After this date, it's recalculated quarterly based on the average trading price over the previous 90 days, but it cannot be less than the "Floor Price" of $1. “Quarterly Payment Date” shall be each of March 31, June 30, September 30 and December 31 of each year prior to the Maturity Date. | Jan 20, 2025 | Sep 30, 2025 | Oct 4, 2024 | ||
(Replaced) - August 2023 - Convertible Note | Not Registered | 0 | $612.00 | $0.00 | $70,000,000.00 | LMR Multi-Strategy Master Fund Limited | Variable Rate | The Conversion Price, subject to adjustments in Sections 4.2 and 4.3, is 0.90 times the lower of: (i) the average VWAP of ADSs over the five Trading Days before the Conversion Date, or (ii) the fixed price of US$8.50, with adjustments as per Article 4. | - | - | Aug 31, 2023 |
Equity Line
Details | Offering Amt | Shr Amt | Share Price | Warrants | Ex Price | Cv Price | Date | Type | ATM Remaining | |
|---|---|---|---|---|---|---|---|---|---|---|
TOPLIQUIDITY SPA - The price at which shares are sold to TopLiquidity is determined by taking 90% of the average Volume-Weighted Average Price (VWAP) of the shares over a five-day period starting from the day TopLiquidity receives the shares. This means they get a 10% discount on the average market price during that time. The maximum number of shares that can be sold in a single transaction is limited to 500% of the average daily trading volume over the ten days before the sale notice. Additionally, TopLiquidity can adjust the amount they purchase to be between 50% and 200% of the amount specified in the sale notice. | $15.00 M | - | - | - | $0.00 | - | Dec 23, 2024 | 424B5 | $15,000,000.00 | |
EQUITY LINE | $10.00 M | 1.20 M | - | - | $0.00 | - | Dec 16, 2024 | 424B5 | $10,000,000.00 |
Completed Offerings
Title | Offering Amt | Shr Amt | Share Price | Warrants | Bank | Owners | Date | Type | |
|---|---|---|---|---|---|---|---|---|---|
REGISTERED OFFERING (RDO) | $1.98 M | 750.00 k | $2.64 | 1.88 M | - | - | Mar 31, 2025 | ||
SHARE SUBSCRIPTION FACILITY AGREEMENT | $15.00 M | - | - | - | - | - | Dec 23, 2024 | 6-K | |
EQUITY LINE | - | 600.00 k | - | - | - | - | Dec 16, 2024 | 6-K | |
REPLACED CONVERTIBLE NOTE | $35.00 M | - | - | - | - | - | Oct 4, 2024 | 6-K | |
REGISTERED OFFERING (RDO) | $6.00 M | 59.52 k | $100.80 | 59.52 k | - | - | Mar 13, 2024 | 6-K | |
REGISTERED OFFERING (RDO) | $17.09 M | 82.50 k | $207.20 | 0.00 | - | - | Nov 22, 2023 | 6-K | |
PRIVATE PLACEMENT | $40.00 M | 65.36 k | $612.00 | - | - | LMR Partners | Aug 31, 2023 | 6-K | |
REGISTERED OFFERING (RDO) | $21.00 M | 43.75 k | $480.00 | 0.00 | - | - | May 30, 2023 | 6-K | |
PRIVATE PLACEMENT | $29.99 M | 71.96 k | $416.00 | 0.00 | - | - | Dec 1, 2022 | 6-K |