Mercurity Fintech Holding Inc. Ordinary Shares - MFH STOCK NEWS

Mercurity Fintech Holding Inc. (MFH) has announced a series of corporate actions approved by its Board of Directors on December 29, 2022. These include a 400-for-1 share consolidation and a change of the ADR ratio from 1-to-360 to 1-to-1. Additionally, the board approved the transfer of the register of members to VStock Transfer, LLC, and the termination of the Deposit Agreement effective February 28, 2023. CEO Shi Qiu believes these changes will enhance cost efficiency, improve compliance in the U.S. market, and attract investors and partnerships.

Mercurity Fintech Holding Inc. (MFH) reported significant financial growth for the first half of 2022, with revenues soaring to USD$783,089, a dramatic increase of 13254.18% from USD$5,864 in the same period of 2021. Despite a GAAP gross loss of USD$508,695 and a net loss of USD$2,368,573, the company highlighted improved cost management, reflecting an 84.51% reduction in net loss year-over-year. Strategic shifts include divesting from certain Asian operations and refocusing on global markets, particularly the U.S., amid ongoing challenges in the cryptocurrency market.

Mercurity Fintech Holding Inc. (MFH) announced a Securities Purchase Agreement for a private investment in public equity financing, raising $5 million. This concludes a series of PIPE financings totaling $13.15 million in 2022. The funds will go towards developing Web3 and blockchain infrastructure, expanding consultation services, and pursuing a BitLicense from New York State. Each unit sold will consist of one ordinary share and three Warrants, with the Warrants exercisable at an adjusted price over three years. The Company emphasizes its commitment to blockchain growth despite market fluctuations.

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.