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Tuesday, May 23, 2017 11:46:07 AM
Moxian, Inc. (NASDAQ: MOXC) has solidified its financial position as it competes in the massive Chinese sector of online-to-offline marketing. SeeThruEquity (http://nnw.fm/qTeF0) projected that the company could attain revenues of $24.1 million and net income of $4.5 million in FY 2018 as the O2O market is estimated to reach $48 billion in 1H17, according to investor materials provided by Moxian. One caveat to SeeThruEquity’s projections was for Moxian to demonstrate its ability to raise additional capital to finance its ambitious plans to compete in such a large market.
The high technology Shenzhen, China-based company netted some $8.5 million in an equity offering, at $4 per share, late in 2016 that resulted in its NASDAQ uplisting. In its SEC 10-Q filing of May 12, 2017, for the three-month period ended March 31, 2017 (http://nnw.fm/1xrKA), the firm additionally disclosed that it had received funds in a series of loans during the six months ended March 31, 2017.
The company is development stage and is building its infrastructure and staffing as it plans to execute its marketing strategy to take its two O2O mobile platforms from no charge to paid. Its Moxian+ is a paid business platform, with the firm’s immediate focus on converting its some 30,000 small market enterprise (SME) customers to paid. Similarly, it is attempting to convert its some 300,000 consumers on the Moxian User app from free to paid. Revenue streams foreseen by Moxian additionally include subscription revenues, transaction fees, mobile advertising, licensing fees, OEM and distribution charges.
SeeThruEquity was intrigued by the size of China’s O2O market and Moxian’s ambitious growth strategy, and it cautioned that the firm would require additional capital sources to finance and execute its strategy. The latest 10-Q by Moxian exhibited the firm’s ability to raise additional capital, enabling it to invest in more infrastructure and sales efforts.
During the six months ended March 31, 2017, the company received approximately $3.2 million from various related party loans and repaid a majority of all related party loans of approximately $5.6 million with IPO proceeds, the 10-Q filing said. Shenzhen Bayi Consulting Co., Limited and Moxian agreed to a series of loans aggregating $2.6 million unsecured, without interest or due on demand terms, to a subsidiary, Moxian Shenzhen. An earlier loan of $96,190 was made to Moxian by Bayi under the same terms. Vertical Venture Capital Group in this period made loans to subsidiary Moxian HK, with the same terms, in the aggregate of $553.8 million. Moxian HK partially repaid the loans as the company invested the funds internally.
Additionally, the SEC 10-Q stated that the company plans to bolster its future cash flows through additional related party financing and public and private placements.
For more information, visit www.Moxian.com
Recent MOXC News
- Form 20-F - Annual and transition report of foreign private issuers [Sections 13 or 15(d)] • Edgar (US Regulatory) • 04/30/2024 08:30:37 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 04/15/2024 08:35:21 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/30/2024 09:30:13 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/11/2024 01:05:35 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/16/2023 03:30:25 PM
- Moxian Announces Name Change to Abits Group Inc • GlobeNewswire Inc. • 11/16/2023 02:27:00 PM
- Management Discussion and Analysis of Results for the half-year to June 30, 2023 • GlobeNewswire Inc. • 11/08/2023 09:56:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/08/2023 09:30:35 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 10/18/2023 08:05:09 PM
- Moxian Receives NASDAQ Notification Regarding Minimum Bid Price Requirements • GlobeNewswire Inc. • 10/18/2023 08:00:00 PM
- MOXIAN POWERS UP ITS DUFF SITE • GlobeNewswire Inc. • 10/02/2023 09:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/28/2023 12:35:22 PM
- Moxian Announces Results of Annual Meeting of Shareholders • GlobeNewswire Inc. • 08/28/2023 12:30:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/15/2023 12:35:11 PM
- Moxian Regains Compliance with NASDAQ Minimum Bid Price Requirement • GlobeNewswire Inc. • 08/15/2023 12:30:00 PM
- Form 20-F/A - Annual and transition report of foreign private issuers [Sections 13 or 15(d)]: [Amend] • Edgar (US Regulatory) • 08/10/2023 08:05:11 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/25/2023 08:00:10 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/18/2023 12:35:12 PM
- Moxian to Hold Annual Meeting of Shareholders on August 25, 2023 • GlobeNewswire Inc. • 07/18/2023 12:30:00 PM
- Moxian Receives NASDAQ Notification Regarding Minimum Bid Requirements • GlobeNewswire Inc. • 06/07/2023 08:30:00 PM
- MOXIAN ACQUIRES LAND TO BUILD A NEW MINING CENTER • GlobeNewswire Inc. • 05/17/2023 11:12:00 PM
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