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200X on the float so far today, you kind of wonder how this is not at 5 bucks! Someone has to buy it
Yes it does, this shows you how powerful naked short shares are when they get called on to cover
16 maybe 18 bucks
Float 1,050 short interest 511, half the float shorted plus any naked shares. It was a short squeeze of all squeezes
Halted now at 509.14
Float 1,050 short interest 511 shares on the books, I bet there is a ton of naked shares that were and are going to get called
Hoping to see a move here similar to what ATXG did yesterday 7.00 to 1,000.00
This is the initial public offering of Addentax Group Corp., a Nevada company. Throughout this prospectus, unless the context requires otherwise, all references to “Addentax” refer to Addentax Group Corp., a holding company and references to “we,” “us,” “our,” the “Registrant,” the “Company” or “our company” are to Addentax and/or its consolidated subsidiaries. We are offering 5,000,000 shares of common stock, par value $0.001 per share, at an initial public offering price of $5.00 per share, on a firm commitment basis.
The offering is being made on a “firm commitment” basis by Network 1 Financial Securities, Inc. See “Underwriting.”
Our shares of commons stock offered in this prospectus are shares of Addentax, our Nevada holding company, which has no material operations of its own and conducts substantially all of its operations through the operating companies established in the People’s Republic of China, or the PRC, primarily Shenzhen Qianhai Yingxi Industrial Chain Service Co., Ltd. (“YX”), our wholly owned subsidiary and its subsidiaries. We are not a Chinese operating company. We are a holding company and do not directly own any substantive business operations in the China. This is an offering of common stock of our Nevada holding company, instead of shares of our operating companies in China. Therefore, you will not directly hold any equity interests in our Chinese operating companies. Our holding company structure involves unique risks to investors. Chinese regulatory authorities could disallow our operating structure, which would likely result in a material change in our operations and/or the value of our common stock, including that it could cause the value of such securities to significantly decline or become worthless. For a detailed description of risks related to the holding corporate structure, see “Risk Factors—Risks Relating to Our Holding Company Structure” for detailed discussions.
Additionally, as we conduct substantially all of our operations through the operating companies established in the PRC, we are subject to certain legal and operational risks associated with our business operations in China. PRC laws and regulations governing our current business operations are sometimes vague and uncertain, and we face the risk that changes in the policies of the PRC government could have a significant impact upon the business we may be able to conduct in the PRC and the profitability of such business. Therefore, these risks associated being based in or having substantially all of our operations through the operating companies established in China could cause the value of our securities to significantly decline or be worthless. Furthermore, these risks may result in a material change in our business operations or a complete hinderance of our ability to offer or continue to offer our securities to investors. Recently, the PRC government initiated a series of regulatory actions and statements to regulate business operations in China with little advance notice, including cracking down on illegal activities in the securities market, enhancing supervision over China-based companies listed overseas using variable interest entity structure, adopting new measures to extend the scope of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. As confirmed by our PRC counsel, Hiways Law Firm (Shenzhen), the business of our subsidiaries until now are not subject to cybersecurity review with the Cyberspace Administration of China, or CAC, given that: (i) our products and services are offered not directly to individual users but through our institutional customers; (ii) we do not possess a large amount of personal information in our business operations; and (iii) data processed in our business does not have a bearing on national security and thus may not be classified as core or important data by the authorities. In addition, as confirmed by our PRC counsel, Hiways Law Firm (Shenzhen), we are not subject to merger control review by China’s anti-monopoly enforcement agency due to the level of our revenues which provided from us and audited by our auditor BF Borgers CPA PC, and the fact that we currently do not expect to propose or implement any acquisition of control of, or decisive influence over, any company with revenues within China of more than RMB400 million. Currently, these statements and regulatory actions have had no impact on our daily business operation, the ability to accept foreign investments and list our securities on an U.S. or other foreign exchange. As of the date of this prospectus, no effective laws or regulations in the PRC explicitly require us to seek approval from the China Securities Regulatory Commission (the “CSRC”) or any other PRC governmental authorities for our overseas listing, nor has our company or any of our subsidiaries received any inquiry, notice, warning or sanctions regarding our overseas listing from the CSRC or any other PRC governmental authorities. However, since these statements and regulatory actions are new, it is highly uncertain how soon legislative or administrative regulation making bodies will respond and what existing or new laws or regulations or detailed implementations and interpretations will be modified or promulgated, if any, and the potential impact such modified or new laws and regulations will have on our daily business operation, the ability to accept foreign investments and list our securities on an U.S. or other foreign exchange. See “Risk Factors” beginning on page 13 for a discussion of these legal and operational risks and other information that should be considered before making a decision to purchase our common stock.
As a holding company, our ability to pay dividends to our shareholders and to service any debt we may incur may depend upon dividends paid by our PRC Subsidiaries. Current PRC regulations permit our PRC Subsidiaries to pay dividends to us through Yingxi Industrial Chain Investment Co., Ltd. (“Yingxi HK”), our intermediate holding subsidiary in Hong Kong, only out of their accumulated profits, if any, determined in accordance with Chinese accounting standards and regulations. In addition, each of our PRC Subsidiaries is required to set aside at least 10% of its after-tax profits each year, if any, to fund a statutory reserve until such reserve reaches 50% of its registered capital. As of the date hereof, we have had no transactions that involved the transfer of cash or assets throughout our corporate structure. The PRC Subsidiaries have not transferred cash or other assets to Addentax, including by way of dividends. Addentax does not currently plan or anticipate transferring cash or other assets from our operations in China to any non-Chinese entity. As of the date hereof, no transfers, dividends, or distributions have been made to our investors. For a detailed description of how cash is transferred through our corporate structure, see “Prospectus Summary - Transfers of Cash to and from our Subsidiaries.”
Pursuant to the Holding Foreign Companies Accountable Act (“HFCAA”), the Public Company Accounting Oversight Board (United States) (the “PCAOB”) issued a Determination Report on December 16, 2021 which found that the PCAOB is unable to inspect or investigate completely registered public accounting firms headquartered in: (1) mainland China of the People’s Republic of China because of a position taken by one or more authorities in mainland China; and (2) Hong Kong, a Special Administrative Region and dependency of the PRC, because of a position taken by one or more authorities in Hong Kong. In addition, the PCAOB’s report identified the specific registered public accounting firms which are subject to these determinations. Our registered public accounting firm, BF Borgers CPA PC, is not headquartered in mainland China or Hong Kong and was not identified in this report as a firm subject to the PCAOB’s determinations. BF Borgers CPA PC is registered with the PCAOB and is subject to laws in the United States pursuant to which the PCAOB conducts regular inspections to assess BF Borgers CPA PC’s compliance with applicable professional standards. BF Borgers CPA PC has been inspected by the PCAOB on a regular basis, with the last inspection in November and December of 2021. Notwithstanding the foregoing, if the PCAOB is not able to fully conduct inspections of our auditor’s work papers in China, you may be deprived of the benefits of such inspection which could result in limitation or restriction to our access to the U.S. capital markets and trading of our securities may be prohibited under the HFCAA. Furthermore, on June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act (“AHFCAA”), which, if enacted, would amend the HFCAA and require the U.S. Securities and Exchange Commission to prohibit an issuer’s securities from trading on any U.S. stock exchanges if its auditor is not subject to PCAOB inspections for two consecutive years instead of three. If the AHFCAA is enacted, and if we are subject to it, it would decrease the number of “non-inspection years” from three years to two years, and thus, would reduce the time before our securities may be prohibited from trading or delisted. For more details, see “Risk Factors – Risk Associated with Our Company -A recent joint statement by the SEC and the Public Company Accounting Oversight Board (United States), or the “PCAOB,” proposed rule changes submitted by Nasdaq, and the newly enacted “Holding Foreign Companies Accountable Act” all call for additional and more stringent criteria to be applied to emerging market companies upon assessing the qualification of their auditors, especially the non-U.S. auditors who are not inspected by the PCAOB. These developments could add uncertainties to our offering.”
We are an “emerging growth company”, as that term is used in the Jumpstart Our Business Startups Act of 2012, and will be subject to reduced public company reporting requirements.
We are a reporting company under Section 15(d) of the Securities Exchange Act of 1934, as amended. Our common stock is currently quoted on the OTCQB Marketplace (the “OTCQB”) under the symbol “ATXG.” The closing price for our common stock on August 30, 2022, was $7.50 per share. There is a limited public trading market for our common stock. Our common stock has been approved for listing on the Nasdaq Capital Market under the symbol “ATXG,” on or promptly after the date of this prospectus.
Investing in our securities involves a significant degree of risks. You should carefully consider the risk factors beginning on page 13 of this prospectus and set forth in the documents incorporated by reference herein before making any decision to invest in our securities.
Neither the U.S. Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or passed upon the accuracy or adequacy of this registration statement. Any representation to the contrary is a criminal offense.
They halted trading, unreal move
This is our month, wishing RD and Petrejus an easy transition and a speedy Comprehensive view of the new company’s mammoth undertaking
Adani Becomes World’s Third Richest Trailing Only Musk, Bezos
ByAlexander Sazonov
August 29, 2022, 2:02 PM PDTUpdated onAugust 30, 2022, 4:05
Few outside of India had heard of Gautam Adani just a few years ago. Now the Indian businessman, a college dropout who first tried his luck as a diamond trader before turning to coal, has become the world’s third-richest person.
https://www.bloomberg.com/news/articles/2022-08-29/india-s-adani-is-first-asian-to-become-world-s-third-richest?utm_campaign=bn&utm_medium=distro&utm_source=yahooUS
At 6.80 I might sell some, I have always felt we deserve 11/12 bucks. I will be here next year for sure. I am a one to four year investor
Totally we were buying those idiots selling constantly at 1.43’s and 1.47’s
.19 more
It’s time to wake up CDEL
Love to see 1.90 bid close, tomorrow work on the 2’s
Indian rupee marks biggest gain in one year on strong foreign inflows
Anushka Trivedi
Tue, August 30, 2022, 3:21 AM
By Anushka Trivedi
(Reuters) - The Indian rupee notched its biggest one-day gain in a year on Tuesday against a wobbly dollar as local equities saw a rush of foreign investor inflows.
The partially convertible rupee surged 0.6% to 79.45 in its best session since Aug. 27, 2021. The currency had hit a record low of 80.12 on Monday, but closed at 79.9625.
India's Nifty 50 stock index soared 2.7% as investors returned to buy the dips after a recent selloff. Overall, local equities have seen foreign investor inflows of about $6 billion in August, the highest since December 2020. [.BO]
August also marked the first month this year when overseas investors turned net buyers of India's government debt. On the day, yield on the 10-year paper dropped 6 basis points to 7.1893%.
HSBC analysts became more optimistic about the rupee, citing a pullback in commodity prices and return of inflows supporting the currency, in addition to support from the country's central bank.
"While we think the USD/INR pair can still rise further, we see scope for the rupee to outperform some other "deficit" peers temporarily," they wrote in a note.
The rupee's strength on Tuesday comes after the Reserve Bank of India (RBI) stepped in to prevent the currency from trading under 80 per dollar in the previous session, traders had told Reuters.
The dollar index losing steam ahead of U.S. jobs data also lifted market sentiment. [FRX/]
However, with the Federal Reserve determined to keep interest rates higher for longer, even as recession looms in the world's biggest economy, it could boost near-term volatility, analysts warned.
"Amid global turmoil and weakness in major Asian peers like the Japanese yen and the Chinese yuan, it will be interesting to see to what extent the RBI succeeds in protecting the USD/INR pair," said Amit Pabari, managing director at consultancy services provider CR Forex.
(Reporting by Anushka Trivedi in Mumbai; Editing by Shinjini Ganguli
Weee, 100 post today, 211 has to be very close!
Feels like 211 is very close
Yep, That’s why they are called naked/counterfeit
It’s closer to 3 to 5 billion, love the amount of posts today so far
2.30’s here
Lol, I’m glad he made his bday dinner monies back already
Hey brother, was that you that picked more up
Share Structure
Market Cap Market Cap
533,338
08/23/2022
Authorized Shares
1,800,000,000
08/22/2022
Outstanding Shares
484,853
08/22/2022
Restricted
Not Available
Unrestricted
Not Available
Held at DTC
Not Available
Float
198,773
02/14/2022
$550k market cap for this clean micro is/float shell is absurd!!!
We will see this at 4.00 to 8.00 when he files
Bid 1.20
Mobiquity Technologies Selected by Swap TC to Drive Awareness to Pre-Sale Launch
August 24 2022 - 08:35AM
GlobeNewswire Inc.
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Mobiquity Technologies, Inc. (NASDAQ: MOBQ) (the “Company”), a leading provider of next-generation data intelligence and advertising technologies, is pleased to announce that it was selected by Swap TC as its data and programmatic advertising provider for their Pre-Sale launch. Mobiquity’s CryptoGraph technology helped drive awareness to the pre-sale launch and Swap TC was able to sell out the stable coin BNB significantly faster than anticipated.
Swap TC aims to empower the masses with consumable and accurate metrics in real-time. They are here to provide the data investors need and to participate proactively in the rehabilitation of the world's financial markets as ambassadors for crypto. Swap TC is the first crypto token to develop a system that rewards long-term holders on an individual basis as opposed to global taxation models. Users holding their investment will get to the lowest tax bracket. This in effect helps minimize large price swings and fuels stability.
Sean Trepeta, President of Mobiquity Networks, said, “We are extremely pleased with the results of the pre-sale campaign, and we look forward to continuing to work closely with the Swap TC team to drive awareness to their project. They are true ambassadors to the crypto space.”
Vlad Vinnichuk, CEO of Swap TC, said, “The big picture we had in mind is to restore coherence in crypto analytics, Safemarketcap will provide accurate and real time data where the user is not the product and ad-revenue isn't a part of the equation. The Swap TC team and I are extremely grateful and honored for having the opportunity to work with Mobiquity Networks and look forward to partnering with them for future campaigns, it’s a no brainer.”
About Mobiquity Technologies
Mobiquity Technologies, Inc. is a next-generation, Platform-as-a-Service (PaaS) company for data and advertising. The Company maintains one of the largest audience databases available to advertisers and marketers through its data services division. Mobiquity Technologies’ Advangelists subsidiary (www.advangelists.com) provides programmatic advertising technologies and insights on consumer behavior. For more information, please visit: https://mobiquitytechnologies.com
About Swap TC
Swap TC empowers users with the metrics they need in order to make informed investment decisions. Investment in projects without charts and data is tantamount to gambling. The Swap TC system is holistic, focused on the bigger vision and the bigger vision rewards the masses as opposed to the traders. Swap TC is planning for new users of cryptocurrency to embark on a journey with easy-to-use tools.
1.80 now, shares are getting tighter and tighter…
We still have someone selling 10/15k a day
Snow has 40k
BDCO 1.74 V 8K 2 MIL FLOAT
Different trading going on,,, We had a 12k @ 1.63 bid then it got hit for 300 and disappeared, now it’s back at 1.60. Looking like a strong buyers are coming in
Time to buy all of the rice farms in West Bengal
24k here
Another 37k day and we will get into the 2’s
That felt like a margin call, time stamp is tight. I question the 1,527 swap at 1.80
Maybe just maybe there is a nice size naked and legit short positions locked in
Let’s see 1.65 bid on the close
Give us a dime divy that will solve all
Yep, They are enjoying keeping it below 1.60