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TROOPS, Inc. announced on April 11, 2023, that allegations were made against independent director Mr. Wang Tai Dominic Li in Civil Action HCA 938 of 2022. The company rejects these allegations and will defend them vigorously. To ensure transparency and protect shareholders, the Board has established a Special Committee, chaired by independent director Mr. Wood Shing Kei Sze, to conduct an internal investigation into Mr. Li's integrity and the company's corporate governance. This investigation is currently in its preliminary stages. TROOPS, Inc. operates in Hong Kong, focusing on money lending, property investment, and an online financial marketplace leveraging advanced technologies. The management emphasizes a commitment to enhancing shareholder value through strategic operations.
TROOPS, Inc. (Nasdaq: TROO) reported unaudited results for the six months ended June 30, 2021, with revenue of $1.28 million, a 16.9% decline from $1.54 million in 2020. Revenue streams included $0.64 million from money lending, down from $0.90 million, and $0.52 million from property management, down from $0.60 million. General and administrative expenses fell by 10.6% to $1.35 million. Despite a net loss of $1.20 million, improved gains from derivative liabilities were reported at $0.25 million, contrasting with a loss in 2020.
TROOPS, Inc. (NASDAQ: TROO) has completed its corporate name change from SGOCO Group, Ltd. to TROOPS, Inc. and its trading symbol change to TROO, effective November 16, 2021. This change was approved during the annual meeting on December 4, 2020. TROOPS operates as a conglomerate in Hong Kong, focusing on money lending, property investment, and an online financial marketplace leveraging advanced technologies like AI and blockchain.
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