mF International Ltd - MFI STOCK NEWS

mF International (Nasdaq: MFI) has received an additional 180-day extension from Nasdaq to meet the minimum bid price requirement of $1.00 per share. This extension follows the initial 180-day compliance period that expired on January 28, 2025, after the company received a non-compliance notice on August 1, 2024.

The company now has until July 28, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days. Failure to meet this requirement by the deadline could result in delisting from Nasdaq. The company states this notice does not affect its business operations, SEC reporting requirements, or contractual obligations.

mF International (Nasdaq: MFI) has announced that its Hong Kong subsidiary, m-FINANCE , has been awarded the Good MPF Employer Award 2023-24 by the Mandatory Provident Fund Schemes Authority (MPFA) of Hong Kong. This prestigious recognition, established in 2015, celebrates organizations that excel in retirement benefit management.

The award evaluates employers based on their compliance with MPF regulations and implementation of enhanced retirement protection measures. This recognition positions mF International among top Hong Kong employers committed to employee financial well-being.

CEO Dick Tam emphasized that this award validates their commitment to exceeding basic regulatory requirements in providing comprehensive retirement benefits. He stated that investing in employees' future security is fundamental to building a strong company and maintaining a corporate culture supporting both professional and personal growth.

mF International announced its unaudited financial results for the first six months of FY 2024, ending June 30, 2024. The company reported a revenue of HK$12.5 million (US$1.6 million), down 11.9% from the same period last year. Gross profit was HK$5.3 million (US$0.7 million), a 27.2% decrease. The company faced a net loss of HK$5.5 million (US$0.7 million), compared to a net income of HK$2.2 million last year. Basic and diluted loss per share was HK$0.45 (US$0.06).

Revenue from subscriptions increased by 7.3%, hosting, support, and maintenance services grew by 17.7%, and white label services rose by 55.6%. However, revenue from initial setup, installation, customization, liquidity services, and quotes/news/package subscriptions declined. Total operating expenses surged by 147% to HK$11.6 million (US$1.5 million), driven by higher employee compensation, legal fees, and other costs. As of June 30, 2024, the company had HK$32.8 million (US$4.2 million) in cash and restricted cash.

mF International (Nasdaq: MFI), a Hong Kong-based financial trading solutions provider, celebrated its successful IPO by ringing the Nasdaq closing bell on August 21, 2024. The company, with over 20 years of experience, offers real-time trading platforms and value-added financial services to brokers, institutions, and exchanges across Asia-Pacific.

Their flagship product, the mF4 Trading Platform, provides a comprehensive solution for various financial instruments. CEO Dick Tam expressed ambitions to expand beyond Southeast Asia and become the world's leading forex and bullion trading platform provider. The company plans to use its IPO proceeds to fuel growth, enhance product offerings, and extend into international markets.

mF International (Nasdaq: MFI), a Hong Kong-based financial trading solution provider, has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's stock failed to maintain a minimum bid price of $1.00 per share for 30 consecutive business days from June 18 to July 31, 2024. mF International has been given until January 28, 2025, to regain compliance by achieving a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.

If the company fails to meet this requirement, it may face potential delisting. mF International is considering options to address the issue, including the possibility of a reverse share split. The notification does not immediately affect the company's listing on the Nasdaq Capital Market or its business operations.

mF International (MFI), a Hong Kong-based financial trading solution provider, announced its fiscal year 2023 financial results. The company reported a revenue decrease of 8.5% to HK$32.0 million (US$4.1 million) from HK$34.9 million in 2022. Despite this, the gross profit margin increased to 56.2%. Net income slightly declined to HK$6.6 million (US$0.8 million), and earnings per share were HK$0.572 (US$0.073). Cost reductions in employee expenses and outsourcing fees helped improve the profit margin. The company saw increased revenue from customization and white label services but faced declines in liquidity and subscription services. In April 2024, mF International completed its IPO and started trading on Nasdaq under the symbol MFI, raising funds to support future growth initiatives.

mF International successfully closed its initial public offering on the Nasdaq Capital Market, raising $7,500,001.5 from the sale of 1,666,667 ordinary shares at $4.50 per share. The underwriter has an option to purchase an additional 250,000 shares. The proceeds will be used for expanding service capacity and general working capital. The Offering was conducted on a firm commitment basis, with Joseph Stone Capital, acting as the underwriter.

mF International , a Hong Kong-based financial trading solution provider, has announced the pricing of its initial public offering on the Nasdaq Capital Market. The Offering consists of 1,666,667 ordinary shares priced at $4.5 per share, with expected gross proceeds of $7,500,001.5. Trading under the ticker symbol 'MFI' is set to begin on April 22, 2024.