Luokung Technology Corp Ordinary Shares - LKCO STOCK NEWS

Luokung Technology Corp. (NASDAQ: LKCO) announced that its affiliate eMapgo Technology will provide mapping services for Ford Motor Company's new vehicle models: the Ford EVOS and Mustang Mach-E. These models are equipped with Ford's BlueCruise active drive assist system, enabling L2 autonomous driving functionalities. The mapping services encompass the majority of highways and city expressways in China, utilizing over-the-air technology for updates. Luokung anticipates expanding its partnership with Ford as the collaboration showcases the quality of their advanced mapping services.

Luokung Technology Corp. (NASDAQ: LKCO), a leader in spatial-temporal big data services, has announced a webinar scheduled for February 23, 2022, at 12 p.m. ET. This event will showcase the company's innovative technology applications, including autonomous driving, hosted by the FORCE Family Office. Interested participants can register at this link. Luokung specializes in location-based services and high-definition maps, supporting sectors like smart transportation and environmental protection.

Luokung Technology Corp. (NASDAQ: LKCO) received a notification from Nasdaq stating it failed to meet the minimum bid price requirement of US$1.00 for its ordinary shares, as required by Listing Rules 5550(a)(2) and 5810(c)(3)(A). The Company has 180 days to regain compliance by maintaining the bid price above US$1.00 for at least 10 consecutive trading days. If compliance is not achieved by July 5, 2022, Luokung may face delisting. The Company is considering options, including a reverse share split, to meet the requirement.

Luokung Technology Corp. (NASDAQ: LKCO) reported record revenue of approximately $74.9 million for the nine months ended September 30, 2021, a significant increase from $13.1 million in the prior-year period. Revenue for Q3 2021 was $37.0 million, up from $5.8 million year-over-year. The LBS business generated $65.4 million, a 409% increase, while remote sensing and GIS services rose to $5.4 million. Smart transportation contributed approximately $4.1 million. Management expects to reach $100 million in full-year revenues.

Luokung Technology Corp. (NASDAQ: LKCO) reported a significant increase in revenues for the first half of 2021, totaling $37.8 million, up from $7.3 million in the prior year. However, the company also faced a net loss of $26.7 million, compared to a loss of $18.9 million last year. Key growth drivers included the acquisition of eMapgo Technology and partnerships with major companies like Microsoft and Geely. Total operating costs surged to $62.9 million, leading to a loss from operations of $25.1 million.

Luokung Technology Corp. (NASDAQ: LKCO) announces its financial results release for the six months ended June 30, 2021, scheduled for November 1, 2021. A conference call will follow on November 2, 2021, at 8:00 a.m. ET to discuss these results. Luokung specializes in spatial-temporal intelligent big data services and location-based services in China, leveraging proprietary technologies for industries like smart transportation and resource management.

Luokung Technology Corp. (NASDAQ: LKCO) announced the closure of a registered direct offering on September 22, 2021, comprising 27,333,300 ordinary shares and warrants for 13,666,650 shares at $1.20 per unit. This offering generated approximately $32.8 million in gross proceeds, intended for working capital and general corporate purposes. The warrants are priced at $1.60 and expire in three years. The offering was conducted under an effective shelf registration statement filed with the SEC.

Luokung Technology Corp. (NASDAQ: LKCO) announced a registered direct offering of $32.8 million for 27,333,300 ordinary shares priced at $1.20 each. The company will also issue 13,666,650 warrants at an exercise price of $1.60 per share, expiring in three years. Proceeds are earmarked for working capital and general corporate purposes. The offering is expected to close on September 22, 2021. FT Global Capital acted as the exclusive placement agent. A prospectus supplement will be filed with the SEC.

Luokung Technology Corp. (NASDAQ: LKCO) announced that its affiliate eMapgo Technology has signed a cooperation agreement with Microsoft to launch autonomous driving services in China. Under this agreement, eMapgo will provide data services to automakers, aiding their implementation of autonomous technologies. The company has already secured contracts with a European and a U.S. car manufacturer. Chairman and CEO Xuesong Song emphasized the growth potential in China's autonomous driving market, aligning eMapgo's expertise in location-based services with Microsoft's technological strengths.