Replies to post #612 on X3 Holdings Co Ltd (XTKG)

[TheOTCstocksGuy]

Lol sorry but that so called news is just going to keep driving the price down! Reverse Split on the horizon!!

[BeachBum]

This PR was misleading imo. PBTS already owned 90% of Aiedu because Boxinrui owned exactly 90% of AIedu prior which of course transferred upon close. This PR gives the impression that Aiedu was a new acquisition. IMO, the company is trying to drive the pps to avoid a reverse split. No way this gets over $1.00. Doesn't help that PBTS issued 276 million shares to the Boxinrui shareholders for the last 65%. If this went to $1.00 without a reverse split, the Boxinrui shareholders would make 1000% on their money. $25 million asset for share exchange to $276 million in market value for their shares? Whatever.

https://www.morningstar.com/news/pr-newswire/20230404cn61252/powerbridge-technologies-acquires-aiedu-unlocking-new-avenues-for-chatgpt-applications

Boxinrui acquisition details below

Powerbridge Technologies Further Acquires 65% Equity Interest in Boxinrui

Reference is made to the previous disclosures on Form 6-K dated June 27, 2022 and December 30, 2022 by Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) (“Powerbridge” or the “Company”), a provider of multi-industry technology solutions, in relation to the acquisition of 15% (the “First Acquisition”) and 20 % (the “Second Acquisition” together, the “Previous Acquisitions”) equity interest in BOXINRUI INTERNATIONAL HOLDINGS LIMITED (“Boxinrui”) by the Company.



On March 28, 2023, the Company entered into an equity transfer agreement (the “Agreement”) with fifteen individual shareholders (the “Relevant Shareholders”) of Boxinrui, pursuant to which the Company agreed to further acquire 65% equity interest (the “Acquired Shares”) in Boxinrui for a consideration of approximately US$25.8 million, which shall be satisfied by way of allotment and issue of an aggregate of 276,448,625 shares to the Relevant Shareholders (the “Third Acquisition”). Prior to the Third Acquisition, the Company held 35% equity interest in Boxinrui from the Previous Acquisitions, which together with the Acquired Shares, the Company will hold 100% equity interest in Boxinrui upon the completion of the Third Acquisition. The closing of the Third Acquisition is subject to the customary closing conditions and terms as stipulated in the Agreement. The Third Acquisition is expected to be closed on or about March 31, 2023.

Boxinrui wholly owns HONG KONG ANXIN JIEDA CO., LIMITED (“Anxin Jieda”), which in turn owns 90% equity interest in Ascendent Insights Education Co., Ltd. (“AIedu”) (also previously known as Shenzhen Wenxing Tianxia Technology Co., Ltd.). AIedu mainly engaged in Artificial Intelligence, Blockchain and NFT technology in the educational industry. Such acquisition is aligned with Powerbridge’s metaverse strategy as Powerbridge intends to utilize AIedu’s business know-how and technology to expand the Company’s metaverse operation.

About Ascendent Insights

AIedu is an AI education company with more than 400,000 users and over 20,000 reading materials. The company serves over 4,000 nurseries and kindergartens with 40,000 educators, providing an innovative approach to early childhood education through its use of AI technology. Its flagship product, Little Egg, has received rave reviews from parents and educators alike for its ability to provide personalized learning experiences for each student.

Looking for Shenzhen Wenxing Tianxia Technology Co or even Ascendent Insights and "Little Egg"?