Mercurity Fintech Holding Inc. Ordinary Shares - MFH STOCK NEWS

Mercurity Fintech Holding Inc. (MFH) announced an asset purchase agreement on December 15, 2022, with Huangtong International to acquire decentralized storage infrastructure for $5.98 million, payable in 2.72 billion ordinary shares at $0.0022 each. This acquisition aims to enhance MFH's Web3 capabilities and improve its mining operations, contributing to future revenue streams. Huangtong International will handle installation and maintenance of the equipment for one year, underscoring the company's strategy to solidify its position in the blockchain industry.

On November 30, 2022, Mercurity Fintech Holding Inc. (MFH) announced a private offering (PIPE) to raise $5 million. The offering includes 3,676,470,589 units, each consisting of one ordinary share and three warrants. The proceeds will be utilized for business development and growing cryptocurrency consultation services in the U.S., including efforts to obtain the 'BitLicense' from New York. However, there are no guarantees of success regarding the BitLicense acquisition. The company also plans to pay $250,000 to its financial advisor out of the gross proceeds.

Mercurity Fintech Holding Inc. (MFH) held its Annual Shareholders Meeting on November 21, 2022, where key proposals were approved, including the election of a new board of directors and a reverse stock split ratio between 1-for-360 and 1-for-720. Additionally, the meeting led to the suspension of trading of American Depositary Receipts (ADRs) and the transition to trading ordinary shares on Nasdaq post-reverse split. CEO Shi Qiu expressed optimism about the newly elected board's potential to drive business development and deepen the company's involvement in blockchain and digital asset services.

Mercurity Fintech Holding Inc. (MFH) announced the successful closure of a Private Investment in Public Equity (PIPE) financing agreement, securing $3.15 million from non-U.S. investors. The funds will bolster business development and working capital, with plans to expand cryptocurrency consultation services in the U.S., including pursuing a “BitLicense” from New York State. The financing involves issuing over 2.4 billion units at $0.0013 each, along with associated warrants. However, the company warns that obtaining the BitLicense may not be assured.

Mercurity Fintech Holding Inc. (MFH) has announced the appointment of five new directors to its Board, effective October 9, 2022. The newly appointed directors include Alan Curtis, Daniel Kelly Kennedy, Zheng Cui, Qian Sun, and Hui Cheng, with Curtis, Cui, and Cheng being classified as independent under Nasdaq guidelines. The CEO, Shi Qiu, expressed confidence that the new board members will enhance the company’s strategic execution and value creation efforts as it focuses on digital asset trading and blockchain technologies.

Mercurity Fintech Holding Inc. (MFH) announced it has regained compliance with Nasdaq Listing Rule 5250(c)(1) after filing its annual report on Form 20-F for the year ended December 31, 2021. The notification from Nasdaq confirms that the matter is now closed following the previous non-compliance notice on May 13, 2022. MFH is a digital fintech group focused on blockchain technology, offering services like digital asset trading and cross-border remittance, while expanding into Bitcoin mining and digital currency investment.

Mercurity Fintech Holding Inc. (MFH) announced it received a deficiency notice from Nasdaq on May 13, 2022, due to its failure to file Form 20-F for the period ended December 31, 2021. The Company has until May 27, 2022, to submit a plan detailing how it will regain compliance with Nasdaq's Listing Rule 5250(c)(1). If accepted, Nasdaq may grant an exception of up to 180 days to regain compliance. MFH is currently developing its plan and aims to submit it promptly.

Mercurity Fintech Holding Inc. (MFH) reported its Q3 2021 unaudited financial results, revealing a GAAP revenue of $0, down from $41,000 in Q3 2020. The net loss widened to $2,344,000 from a loss of $631,000 year-over-year. Non-GAAP net loss was $449,000, slightly higher than the previous year's $427,000. Significant management changes led to the suspension of major client operations. Despite these setbacks, MFH aims to enhance blockchain applications and digital currency investments, following a $10 million private offering.

Mercurity Fintech Holding Inc. (MFH) announced its Q2 2021 financial results, reporting GAAP revenues of $0 thousand, unchanged from Q2 2020. The company showed a significant net loss of $10,740 thousand compared to $1,373 thousand in the previous year. However, non-GAAP net income improved to $31 thousand, up from a $538 thousand loss in Q2 2020. The company plans to enhance blockchain services and aims to initiate bitcoin mining and trading operations in Q4 2021. Due to regulatory impacts, operations have been affected, necessitating a dismantle of the VIE structure involving two subsidiaries.