Datasea Announces Intent of its CEO to Purchase Up $3,000,000 of its Common Stock in Open Market Purchases
Datasea's CEO Ms. Zhixin Liu commented, "I believe that the current price of our stock is undervalued and that it is not a true reflection of value of our two core businesses. The company has made substantial progress in our business initiatives and believe that our growth momentum will continue. Further, I have a very high degree of confidence in our strategic plan and believe that our stock price should reflect both the value of our current business as well as our growth prospects."
The specific timing and amount of the purchases of the Company's common stock by CEO Ms. Zhixin Liu may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades or through other legally permissible means, and it will be determined by the market and other conditions, securities law limitations and other applicable rules and regulations. CEO Ms. Zhixin Liu intends to make all share purchases in compliance with applicable regulatory guidelines and to administer the plan in accordance with applicable laws, including Rule 10b-5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended.
About Datasea Inc.
Datasea Inc. ("Datasea" or the "Company") is a leading provider of products, services, and solutions for enterprise and retail customers in converging and innovative industries, acoustics high tech and 5G-AI multimodal communication, especially focusing on ultrasonic, infrasound and directional sound technology. The Company's advanced research and development technology serves as the core infrastructure and backbone for its products. Its 5G-AI multimodal communication segment operates on a cloud platform based on artificial intelligence. Datasea leverages cutting-edge technologies in acoustics high tech, utilizing ultrasonic sterilization to combat viruses and prevent human infections, and is also developing innovations in directional sound and medical ultrasonic cosmetology. In July 2023, Datasea established a wholly-owned subsidiary, Datasea Acoustics LLC, in
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and as defined in the
Investor and Media Contact:
Datasea Inc. Investor relations
Email: investorrelations@shuhaixinxi.com
Precept Investor Relations LLC
David Rudnick
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david.rudnick@preceptir.com
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SOURCE Datasea Inc.