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Mega Matrix Corp. (NYSE American: MPU) has closed a private placement, raising $1.5 million through the issuance of 681,818 shares of common stock (or equivalents) and accompanying warrants. The offering included short-term series A warrants and series B warrants, both with an exercise price of $2.20 per share. H.C. Wainwright & Co. acted as the exclusive placement agent.
The company intends to use the net proceeds for working capital and general corporate purposes. The securities were offered under Section 4(a)(2) of the Securities Act and/or Regulation D and have not been registered. MPU has agreed to file a resale registration statement for the securities.
Mega Matrix Corp. (NYSE American: MPU) announced the appointment of Ms. Doris Wang as Chief Marketing Officer of its Singapore subsidiary, Saving Digital Pte. Ltd., effective February 2023. Wang brings extensive experience from her previous roles, including serving as CFO for a Web3.0 company in Dubai. Her background in public relations and investment is expected to enhance Mega Matrix's marketing and investor relations efforts, particularly for their staking platform, MarsProtocol. The CEO expressed optimism about Wang's contributions to strengthening brand visibility and investor connections in both the U.S. and Asia.
Mega Matrix Corp. (NYSE American: MTMT) announced a change in its ticker symbol from "MTMT" to "MPU," effective February 6, 2023. This decision aims to better align with the brand identity of the company's digital assets staking business, MarsProtocol. CEO Yucheng Hu expressed excitement regarding the change, emphasizing its significance for their operations. Existing shareholders need not take any action, as the common stock will continue to be listed on the NYSE AMEX, with the CUSIP remaining unchanged. Mega Matrix is a holding company based in Palo Alto, California, focusing on staking services and aircraft operations through its subsidiaries.
Mega Matrix Corp. (MTMT) announced the completion of a private placement, raising approximately $5.6 million by issuing 4,314,615 shares at $1.30 each. This follows an earlier placement of $4.4 million in October 2022, bringing total fundraising to over $10 million in three months. The funds will support the company's new business model focused on digital assets staking, involving both solo-staking and staking as a service (StaaS). Utilizing its Ethereum treasury, the company aims to facilitate ETH rewards for users through its platform MarsProtocol. CEO Yucheng Hu expressed excitement about the new strategy.
Mega Matrix Corp. (MTMT) announced its 2022 Annual Meeting of Stockholders will be held virtually on December 15, 2022, at 9:00 a.m. PST due to COVID-19 health concerns. Shareholders as of the record date, October 24, 2022, can access the live audio webcast, which opens 15 minutes prior to the meeting. Voting can be done online or by mail, and technical assistance will be available during the meeting. The company, based in Palo Alto, focuses on crypto-related businesses and third-party aircraft management. For more details, visit the company’s website.
Mega Matrix Corp. (MTMT) announced on November 4, 2022, the discontinuation of its Mano game and the alSpace platform due to regulatory challenges. The company is now exploring crypto-related business opportunities outside the United States to diversify its business model. Despite this shift, the firm will maintain its focus on third-party management service contracts for aircraft operations through its subsidiary, JetFleet Management. The decision reflects ongoing challenges in the evolving regulatory landscape for crypto operations.
Mega Matrix Corp. (MTMT) announced on October 18, 2022, the completion of a private placement, selling 4,400,000 shares at $1.00 each, totaling $4.4 million in gross proceeds. These funds are earmarked for general working capital. The shares are not registered under the Securities Act and cannot be sold in the U.S. without proper registration or exemptions. The company, based in Palo Alto, focuses on crypto-related businesses through its subsidiaries and continues to engage in aircraft operations through JetFleet.
Mega Matrix Corp. (MTMT) reported its fiscal first quarter results for 2022, achieving total revenues of $0.4 million, with $0.3 million generated from transaction fees related to its new NFT game 'Mano'. The net loss decreased significantly to $0.7 million, compared to $5.4 million in the same quarter of 2021. The company aims to expand its GameFi offerings and diversify its NFT services on the 'alSpace' metaverse platform. CEO Yucheng Hu expressed optimism about the future growth potential and commitment to supporting the crypto-ecosystem.
Mega Matrix Corp. (NYSE American: MTMT) reported its fiscal year 2021 financial results, posting a net income of $14.7 million, a significant recovery from a $42.2 million loss in 2020. Key factors included $27.7 million in reorganization gains following its bankruptcy exit in October 2021. However, revenues fell by 62% to $6.1 million, primarily due to reduced lease income from aircraft sales. Operating expenses decreased to $19.2 million from $62.0 million in 2020, reflecting cost-cutting measures and restructuring.
AeroCentury Corp. has officially changed its name to Mega Matrix Corp., effective March 28, 2022, and will start trading under the new ticker MTMT on the NYSE American. This rebranding aims to reflect the company's expansion into the metaverse and GameFi sectors. CEO Yucheng Hu expressed excitement about this strategic move, indicating a shift towards technology-driven growth while maintaining its legacy of aircraft operations through JetFleet Management Corp. The company continues to pivot towards innovative business models.
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