MMTEC, INC. ANNOUNCES A PAUSE ON FINANCING ACTIVITIES IN THE NEXT SIX MONTHS

Rhea-AI Summary

MMTEC, Inc. announced a pause on financing activities for the next six months, suspending new investments and capital raising. The decision aims to optimize strategic layout, resource allocation, and operational efficiency. The Company plans to restart capital raising in the future to ensure long-term development and serve shareholders and partners.

Positive

• None.

Negative

• The suspension of financing activities may limit potential growth opportunities for MMTEC, Inc.

• Investors may perceive the pause in capital raising as a sign of financial instability or operational challenges within the Company.

HONG KONG, May 8, 2024 /PRNewswire/ -- MMTEC, Inc. ("MMTEC" or the "Company") (Nasdaq: MTC), announced that it will suspend the acceptance of new investments and pause the Company's capital raising activities for the next six months. In light of the Company's current capital position, combined with a comprehensive assessment of the current market environment and our business operations, our management team has decided to suspend the Company's financing plans for the next six months. During this period, the Company will neither seek nor accept new investments.

This decision aims to optimize our strategic layout, rationalize the allocation of resources, and adjust our operational strategy to improve operational efficiency and ensure the long-term and steady development of the Company, with a view to better serve our shareholders and partners. We would like to express our sincere gratitude to all potential investors for their continuous attention and trust. We are continuously tracking market dynamics and will look for an opportune time to restart our capital raising activities.

About MMTEC, Inc.

Headquartered in Hong Kong Special Administrative Region, our Company mainly focuses on investment banking and asset management business, providing customers with one-stop and all-round financial services.

More information about the Company can be found at: www.haisc.com. 

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may", "will", "intend", "should", "believe", "expect", "anticipate", "project", "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company's statements regarding its continued growth, business outlook, and other similar statements are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission, including the Company's most recently filed Annual Report on Form 20-F and its subsequent filings. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. 

 

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SOURCE MMTEC, Inc.

FAQ

Why is MMTEC, Inc. pausing financing activities for the next six months?

MMTEC, Inc. is suspending new investments and capital raising to optimize strategic layout, resource allocation, and operational efficiency.

What is the impact of the pause on financing activities on MMTEC, Inc.'s growth?

The suspension may limit potential growth opportunities for the Company.

Will MMTEC, Inc. accept new investments during the next six months?

No, the Company will neither seek nor accept new investments during this period.