Annuncio • Jul 14
The Nasdaq Stock Market to Delist the Ordinary Shares of Luokung Technology The Nasdaq Stock Market announced that it will delist the ordinary shares of Luokung Technology Corp. Luokung Technology Corp’s security was suspended on March 31, 2025 and has not traded on Nasdaq since that time. New Risk • Mar 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 20% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$707k free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Negative equity (-US$53m). Earnings have declined by 37% per year over the past 5 years. Market cap is less than US$10m (US$3.73m market cap). Reported Earnings • Jan 13
First half 2024 earnings released: US$5.12 loss per share (vs US$10.41 loss in 1H 2023) First half 2024 results: US$5.12 loss per share (improved from US$10.41 loss in 1H 2023). Revenue: US$1.35m (down 78% from 1H 2023). Net loss: US$11.4m (loss narrowed 49% from 1H 2023). New Risk • Jan 13
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$707k free cash flow). Negative equity (-US$53m). Earnings have declined by 37% per year over the past 5 years. Market cap is less than US$10m (US$5.27m market cap). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding). Reported Earnings • Oct 23
Full year 2023 earnings released: US$81.55 loss per share (vs US$29.76 loss in FY 2022) Full year 2023 results: US$81.55 loss per share (further deteriorated from US$29.76 loss in FY 2022). Revenue: US$10.2m (down 89% from FY 2022). Net loss: US$181.3m (loss widened 245% from FY 2022). Annuncio • Oct 07
Luokung Regains Compliance with Nasdaq Minimum Bid Price Requirement Luokung Technology Corp. announced that on October 1, 2024, it received a letter from the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it has regained compliance with the Nasdaq Capital Market’s minimum bid price requirement. The letter noted that as of September 30, 2024, the Company evidenced a closing bid price of its ordinary shares at or greater than the $1.00 per share minimum requirement for 10 consecutive business days. Nasdaq stated that accordingly, Luokung has regained compliance with Nasdaq Marketplace Rule 5550(a)(2), and Nasdaq considers the matter closed. New Risk • Sep 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (6.7% increase in shares outstanding). Market cap is less than US$100m (US$10.7m market cap). New Risk • Sep 10
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.81m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Revenue has declined by 78% over the past year. Market cap is less than US$10m (US$9.81m market cap). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (6.7% increase in shares outstanding). New Risk • Jul 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.63m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Revenue has declined by 78% over the past year. Market cap is less than US$10m (US$9.63m market cap). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (6.7% increase in shares outstanding). New Risk • Jul 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 78% over the past year. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (6.7% increase in shares outstanding). Market cap is less than US$100m (US$12.1m market cap). Annuncio • May 16
Luokung Receives NASDAQ Notice Related to Filing of Form 20-F Luokung Technology Corp. (‘Luokung’ or the ‘Company’) announced that on May 2, 2024, the Company received a notice from the NASDAQ Stock Market (the ‘Nasdaq Notice’), notifying the Company that it is not in compliance with the requirements for continued listing set forth in NASDAQ Listing Rule 5250(c)(1) because it did not timely file its annual report on Form 20-F for the year ended December 31, 2023 (the ‘2023 Annual Report’). In accordance with NASDAQ Listing Rules, the Company has 60 calendar days from the date of the Nasdaq Notice, or until July 1, 2024, to submit a plan to regain compliance with NASDAQ Listing Rules (the ‘Compliance Plan’). If NASDAQ accepts the Compliance Plan, NASDAQ may grant the Company an extension until October 28, 2024 to regain compliance. The Company intends either to file its 2023 Annual Report or submit the Compliance Plan within the prescribed 60-day period. The Nasdaq Notice has no immediate impact on the listing of the Company’s ordinary shares on the Nasdaq Capital Market. Annuncio • May 09
Luokung Technology Receives an Additional 180 Calendar Day Extension from Nasdaq to Meet Nasdaq Minimum Bid Price Requirement Luokung Technology Corp. (‘Luokung’ or the ‘Company’) announced that on May 2, 2024, the Company received an additional 180 calendar day extension (‘Second Compliance Grace Period’) from Nasdaq’s Listing Qualifications Department to meet Nasdaq’s continuing listing requirements by maintaining a minimum bid price per share of $1.00 for a minimum of 10 consecutive trading days. The Company now has until October 28, 2024 to regain compliance. Nasdaq's extension notice has no immediate effect on the continued listing status of the Company's ordinary shares on Nasdaq. If at any time before October 28, 2024, the bid price of the Company’s ordinary shares closes at or above $1.00 per share for a minimum of 10 consecutive trading days, the Company will regain compliance with the Nasdaq Listing Rules, and the matter will be closed. The Company was first notified by Nasdaq of its failure to maintain a minimum bid price of $1.00 per share for 30 consecutive trading days under Nasdaq Listing Rules 5550(a)(2) and 5810(c)(3)(A) on November 3, 2023, and was given until May 1, 2024 to regain compliance. If the Company does not meet the minimum bid requirement during the additional 180-day extension, Nasdaq will provide written notification to the Company that its ordinary shares will be subject to delisting. In addition, the Second Compliance Grace Period related exclusively to the bid price deficiency. The Company may be delisted during such period for failure to maintain compliance with any other listing requirements for which occurs during this period. At such time, the Company may appeal the delisting determination to a Nasdaq Hearings Panel (the ‘Panel’). The Company would remain listed pending the Panel's decision. There can be no assurance that if the Company does appeal a subsequent delisting determination, and that such appeal would be successful. Annuncio • Apr 17
Luokung Technology Corp. Announces Board and Audit Committee Changes On January 15, 2024, Ms. Yang Zhou tendered her resignation as Independent Director and Chairman of the Audit Committee of the Board of Directors of Luokung Technology Corp. (Company). Effective on April 11, 2024, the Board of Directors of the company appointed Mr. Liangbing Yu as the new Independent Director and Chairman of the Audit Committee of the Board of Directors of the company to fill the vacancy created by Ms. Zhou's resignation. Mr. Liangbing Yu, age 50, is Executive Partner at Beijing GloryHope Oriental Investment Center (Limited Partnership), a position he held since 2017. From 1998 to 2017, Mr. Yu worked at CYTS Holding Co. LTD., where he has served in various capacities including as Vice President of International Tourism Company, General Manager of Operations Management Department, General Manager of Inbound Online Business Department, General Manager of Destination Overseas Marketing Business Department, General Manager of Investment Management Department, and Strategic Planning Director of Securities Department. Mr. Yu received his dual Bachelor's Degree in Investment Economics & Economic Law from Huazhong University of Science and Technology. New Risk • Apr 11
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.74m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 24% per year over the past 5 years. Market cap is less than US$10m (US$9.74m market cap). Minor Risk Shareholders have been diluted in the past year (23% increase in shares outstanding). New Risk • Feb 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 24% per year over the past 5 years. Market cap is less than US$10m (US$8.81m market cap). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (23% increase in shares outstanding). Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Yang Zhou was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Dec 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 33% per year over the past 5 years. Market cap is less than US$10m (US$9.32m market cap). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (17% increase in shares outstanding). New Risk • Dec 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.62m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 33% per year over the past 5 years. Market cap is less than US$10m (US$9.62m market cap). Minor Risk Shareholders have been diluted in the past year (17% increase in shares outstanding). Annuncio • Nov 09
Luokung Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency Luokung Technology Corp. announced that it has received a notification letter from The Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that it is not in compliance with the minimum bid price requirement set in Nasdaq Listing Rules 5550(a)(2) and 5810(c)(3)(A), which require that the closing bid price for the Company's ordinary shares listed on Nasdaq be maintained at a minimum of USD 1.00 and failure to maintain it for 30 consecutive trading days constitutes a compliance deficiency. The notification has no immediate effect on the listing of the Company's ordinary shares on Nasdaq. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days from the date of notification, or until May 1, 2024, to regain compliance with the minimum bid price requirement, during which time the Company's ordinary shares will continue to trade on the Nasdaq Capital Market. If at any time before May 1, 2024, the bid price of the Company's ordinary shares closes at or above USD 1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the minimum bid price requirement. In the event the Company does not regain compliance by May 1, 2024, the Company may be eligible for additional time to regain compliance or may be delisted from Nasdaq. The Company intends to monitor the closing bid price of its ordinary shares and may consider options that may be available to achieve compliance, including, but not limited to, implementing a reverse share split of its outstanding ordinary shares at the end of the first or second compliance period, as the situation applies. Annuncio • Jun 08
Luokung Technology Corp. Announces Executive Changes On June 5, 2023, Mr. Jie Yu tendered his resignation as the Chief Financial Officer (“CFO”) of Luokung Technology Corp. with immediate effect. Mr. Yu’s decision to resign was not a result of any disagreements with the Company on any matter related to the operations, policies, or practices of the Company. Effective on June 5, 2023, the board of directors of the Company appointed Mr. Jian Zhang as the new CFO of the Company to fill the vacancy created by Mr. Yu’s resignation. The biographical information of Mr. Zhang is set out below. Mr. Jian Zhang, age 39, was appointed as the vice president of the Company on January 20, 2014, responsible for the Company's business operation management, internal control management and project management. From September 2009 to January 2014, Mr. Zhang served as the operation director of the company Qihoo 360 and was responsible for the operation of Qihoo 360’s online security products. From December 2007 to September 2009, Mr. Zhang worked for Rising Antivirus Software Company as the operation director and was responsible for the after-sales service support of Rising Enterprise Security Software. Mr. Zhang received a bachelor's degree in computer science from Heilongjiang Business School in 2007. Reported Earnings • May 17
Full year 2022 earnings released: US$3.72 loss per share (vs US$6.16 loss in FY 2021) Full year 2022 results: US$3.72 loss per share (improved from US$6.16 loss in FY 2021). Revenue: US$93.6m (down 36% from FY 2021). Net loss: US$52.5m (loss narrowed 24% from FY 2021). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 55% per year, which means it is significantly lagging earnings. Annuncio • Jan 11
Luokung Receives Nasdaq Listing Determination Company to Request Hearing Luokung Technology Corp. announced that on January 4, 2023, the Company received notice from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") indicating that, based upon the Company's non-compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the "Rule") as of January 3, 2023, the Company's securities would be delisted from Nasdaq unless the Company timely requests a hearing before the Nasdaq Hearings Panel. The Company plans to timely request a hearing before the Panel, which request will stay any further delisting action by Nasdaq at least pending the hearing and the expiration of any extension that may be granted by the Panel following the hearing. There can be no assurance however that the Panel will grant the Company's request for continued listing or that the Company will be able to evidence compliance with the Rule and all other applicable criteria for continued listing on Nasdaq within the period of time that may be granted by the Panel. As previously disclosed on January 7, 2022, and July 7, 2022, the Company was first notified by the Staff on January 3, 2022, that it failed to satisfy the minimum bid price requirement of $1.00 per share for the preceding 30 consecutive business days and was granted a grace period through July 5, 2022, to regain compliance the Rule. Thereafter, on July 6, 2022, in accordance with the Nasdaq Listing Rules, the Staff granted the Company an additional 180 calendar day extension to regain compliance with the Rule. To evidence compliance with the Rule, the Company must report a closing bid price of at least $1.00 per share for a minimum of 10, though generally not more than 20, consecutive business days. Annuncio • Jul 08
Luokung Receives Extension to Meet Nasdaq Minimum Bid Price Requirement Luokung Technology Corp. ("Luokung" or the "Company") announced that on July 6, 2022, the Company received an additional 180 calendar day extension ("Second Compliance Grace Period") from Nasdaq's Listing Qualifications Department to meet Nasdaq's continuing listing requirements by maintaining a minimum bid price per share of $1.00 for a minimum of 10 consecutive trading days. The Company now has until January 2, 2023 to regain compliance. Nasdaq's extension notice has no immediate effect on the continued listing status of the Company's ordinary shares on Nasdaq. If at any time before January 2, 2023, the bid price of the Company's ordinary shares closes at or above $1.00 per share for a minimum of 10 consecutive trading days, the Company will regain compliance with the Nasdaq Listing Rules, and the matter will be closed. Annuncio • May 10
Luokung Technology Corp. to Report Fiscal Year 2021 Results on May 11, 2022 Luokung Technology Corp. announced that they will report fiscal year 2021 results After-Market on May 11, 2022 Annuncio • Mar 30
Luokung Technology Corp. (NasdaqCM:LKCO) agreed to acquire Beijing Hongda Jiutong Science And Technology Development Co., Ltd. Luokung Technology Corp. (NasdaqCM:LKCO) agreed to acquire Beijing Hongda Jiutong Science And Technology Development Co., Ltd on March 29, 2022. The Company expects to close this transaction by the end of the second quarter of 2022. Annuncio • Jan 09
Luokung Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency Luokung Technology Corp. announced that it has received a notification letter from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the minimum bid price requirement set in Nasdaq Listing Rules 5550(a)(2) and 5810(c)(3)(A), which require that the closing bid price for the Company's ordinary shares listed on Nasdaq be maintained at a minimum of USD 1.00 and failure to maintain it for 30 consecutive trading days constitutes a compliance deficiency. The notification has no immediate effect on the listing of the Company's ordinary shares on Nasdaq. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days from the date of notification, or until July 5, 2022, to regain compliance with the minimum bid price requirement, during which time the Company's ordinary shares will continue to trade on the Nasdaq Capital Market. If at any time before July 5, 2022, the bid price of the Company's ordinary shares closes at or above US$1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the minimum bid price requirement. In the event the Company does not regain compliance by July 5, 2022, the Company may be eligible for additional time to regain compliance or may be delisted from Nasdaq. The Company intends to monitor the closing bid price of its ordinary shares and may consider options that may be available to achieve compliance, including, but not limited to, implementing a reverse share split of its outstanding ordinary shares at the end of the first or second compliance period, as the situation applies. Annuncio • Sep 24
Luokung Technology Corp. has completed a Composite Units Offering in the amount of $32.79996 million. Luokung Technology Corp. has completed a Composite Units Offering in the amount of $32.79996 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 27,333,300
Price\Range: $1.2
Discount Per Security: $0.078
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 27,333,300
Security Name: Warrants
Security Type: Equity Warrant
Transaction Features: Registered Direct Offering Annuncio • Sep 03
Luokung Announces Emapgo to Lead Development of Standards for Technical Requirements of Automated Valet Parking Map and Localization Luokung Technology Corp. announced that the Technical Requirements of Automated Valet Parking Map and Localization (the "AVP Requirements"), a standard project sponsored by Luokung's operating affiliate eMapgo Technology (Beijing) Co. Ltd. has passed the review of the China Society of Automotive Engineers and entered the development phase. Automated Valet Parking ("AVP") is known as the L4 autonomous driving technology that enables vehicles to park themselves. Luokung believes that AVP is currently the most promising application for autonomous driving technology and is the first to achieve commercial launch. The development of the AVP Requirements will further improve and refine the AVP standards and establish a uniform set of safety and technical requirements in China, providing a clear foundation for future AVP products. The development of the AVP Requirements allows the industry to promote the progress of AVP product development and launch, as well as the safe and rapid expansion of the autonomous driving industry. Development of the AVP Requirements will be led by EMG, together with representatives of nearly 60 industries including relevant map vendors, positioning service providers, software and hardware vendors in the field of autonomous driving, car manufacturers, communication operators, and parking lot operators. Annuncio • May 07
Luokung Technology's Shares to Continue to Trade in the United States on the Nasdaq Stock Market Luokung Technology Corp. announced earlier on May 6, 2021 that Luokung's previously announced motion for a preliminary injunction was granted by the United States District Court for the District of Columbia (the ‘Court’), and that as a result of the ruling, the Department of Defense and other government defendants are enjoined from implementing or enforcing the designation of Luokung as a Communist Chinese military company, and the resulting restrictions pursuant to Executive Order 13959. Upon receipt of the Court's decision, Luokung contacted Nasdaq senior management to inform it of the action taken by the Court and requested that Nasdaq reconsider the delisting determination that it previously issued, as well as its decision to suspend trading in Luokung ordinary shares effective 8.p.m.(ET). on May 7, 2021. Earlier May 6, 2021, Nasdaq notified Luokung in writing that it has withdrawn its delisting letter, and the company's shares will continue to trade on the NASDAQ stock market. Annuncio • May 02
Luokung Technology Corp. announced delayed 20-F filing On 04/30/2021, Luokung Technology Corp. announced that they will be unable to file their next 20-F by the deadline required by the SEC. Annuncio • Mar 18
Luokung Technology Corp. (NasdaqCM:LKCO) completed the acquisition of eMapgo Technologies (Beijing) Co., Ltd. from a group of sellers. Luokung Technology Corp. (NasdaqCM:LKCO) agreed to acquire eMapgo Technologies (Beijing) Co., Ltd. for approximately CNY 840 million from a group of sellers on August 27, 2019. Total consideration includes a payment of cash payment of CNY 709 million which includes offshore and onshore payment and CNY 127 million will be paid by Luokung Technology shares. In connection with its acquisition of Saleya, as of December 31, 2019 and on January 21, 2020, Luokung Technology Corp made a partial cash payment of $14.33 million and $18.54 million, respectively, and on February 5, 2020 it issued 2,708,498 ordinary shares to certain shareholders of Saleya in accordance with share purchase agreement. On February 24, 2020, Luokung Technology Corp. reached an agreement with two of the Saleya’s shareholders to issue 1.50031 million of Series B preferred shares instead of a cash payment of $6.182 million (CNY 43.128 million) as a change of consideration for the acquisition of Saleya. The group of sellers consists of offshore sellers Zhi-Xun Wang, Hong-Bin Lu, Zhi-Gang Wang, Guan-Hua Fu, YEH, MING TUNG, Rui-Xia Ding, Rui-Xia Ding, Globalearth Holdings Limited, Global Earth Venture Limited and group of other onshore sellers. Geely Technology and Acuitas Capital, LLC have made strategic investments of $42.5 million (CNY 298.5 million) and expects to receive $100 million (CNY 702.32 million) to fund the transaction. The agreement to acquire eMapgo Technologies (Beijing)is conditioned on, among other things, the Luokung Technology ability to raise the necessary financing to consummate the acquisition of eMapgo Technologies (Beijing). The expected closing date is on September 30, 2019.
Luokung Technology Corp. (NasdaqCM:LKCO) completed the acquisition of eMapgo Technologies (Beijing) Co., Ltd. from a group of sellers on March 17, 2021. Annuncio • Mar 12
Luokung Announces Nasdaq Withdrawal of Delisting Notice Luokung Technology Corp. announced receipt of a letter from the Department of the Treasury Office of Foreign Assets Control ("OFAC"). The letter confirms that any restrictions on U.S. persons to trade Luokung's securities or derivatives will not take effect until May 8, 2021, and that divestments will be permitted through March 9, 2022. OFAC has also confirmed that the U.S. Department of Defense ("DoD") has listed Luokung as a "Communist Chinese military company" ("CCMC") effective as of March 9, 2021, and that an earlier listing of the company as a CCMC under a misspelled name is no longer effective. Upon receipt of the OFAC letter, Luokung contacted Nasdaq senior management to inform it of the action taken by OFAC and requested that Nasdaq reconsider the delisting determination that it previously issued, as well as its decision to suspend trading in Luokung ordinary shares effective 9:30 a.m. on March 15, 2021. Earlier on March 11, 2021, Nasdaq notified Luokung in writing that it has withdrawn its delisting letter, and stated that unless there are further changes to the Company's status on the CCMC List, Nasdaq will issue a new delisting determination to be effective May 8, 2021. As a consequence of Nasdaq's action trading in Luokung ordinary shares will not be suspended at 9:30 a.m. on March 15, 2021 as was previously disclosed. Annuncio • Feb 18
Luokung Technology Corp. has completed a Composite Units Offering in the amount of $15 million. Luokung Technology Corp. has completed a Composite Units Offering in the amount of $15 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 16,891,892
Price\Range: $0.888
Discount Per Security: $0.0666
Transaction Features: Registered Direct Offering Annuncio • Feb 11
Luokung Technology Corp. has completed a Composite Units Offering in the amount of $5.000001 million. Luokung Technology Corp. has completed a Composite Units Offering in the amount of $5.000001 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 9,615,387
Price\Range: $0.52
Discount Per Security: $0.039
Transaction Features: Registered Direct Offering Is New 90 Day High Low • Feb 10
New 90-day high: US$0.96 The company is up 114% from its price of US$0.45 on 11 November 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Interactive Media and Services industry, which is up 16% over the same period. Is New 90 Day High Low • Jan 12
New 90-day high: US$0.88 The company is up 63% from its price of US$0.54 on 13 October 2020. The American market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Interactive Media and Services industry, which is up 12% over the same period. Reported Earnings • Jan 02
First half 2020 earnings released: US$0.089 loss per share The company reported a soft first half result with increased losses and weaker control over expenses, although revenues were improved. First half 2020 results: Revenue: US$7.32m (up 28% from 1H 2019). Net loss: US$18.8m (loss widened 79% from 1H 2019). Is New 90 Day High Low • Dec 24
New 90-day high: US$0.80 The company is up 96% from its price of US$0.41 on 24 September 2020. The American market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Interactive Media and Services industry, which is up 19% over the same period. Annuncio • Dec 11
Luokung Technology Corp. Cooperates with Guangdong Yiting Information Technology Co., Ltd. to Provide Location-Based Commercial Marketing Services for More Than 90,000 Gas Stations Across China Luokung Technology Corp. (Luokung or the Company) announced that it has signed an agreement with Guangdong Yiting Information Technology Co., Ltd. (Yiting). The two parties will cooperate to provide location-based commercial marketing services for more than 90,000 gas stations across China. Relying on the ecological cooperation system between Yiting and Gas Stations and the Luokung map open platform, this cooperation enables each gas station to manage its own features on the map, including but not limited to personalized landmarks, personalized navigation routes, real-time map updates and display of marketing information for gas related and non-gas related products on the site, and other personalized marketing services. Annuncio • Dec 04
Luokung and Hainan Broadcasting International Media Center Cooperate to Launch Location Business Services in Hainan Luokung Technology Corp. announced that Luokung and Hainan Broadcasting International Media Center engaged into a cooperation agreement to jointly launch local tourism and business services in Hainan, HiGo, which includes mobile application and interface services, covers entire Hannan island's business, culture, tourism and travel service facilities and provides location as a service in Hainan province. HiGo is built on the open platform and API services of Luokung Map while leveraging special features of Hainan International Free Trade Port. It provides users with comprehensive business interactive services based on locations in social, travel, shopping and other scenarios. A large amount of location-related audio and video content is presented in the HiGo map service in Fusion Media Center. Merchants and users can directly publish the latest business and service information at their location, display it on HiGo map in real time, and conduct online transactions. Additionally, the display of truly personalized maps for HiGo users by Luokung map affords users a unique experience of location as a service. Hainan Broadcasting International Media Center is affiliated to Hainan Radio and Television General Station and has the richest content and media promotion resources in Hainan. Hainan Province is China's largest pilot free trade zone and has begun to build a free trade port across the island. In 2019, the number of tourists in the whole year exceeded 80 million, and the annual tourism income exceeded CNY 100 billion. Annuncio • Dec 01
Luokung Technology Corp. Wins Bid for Heilongjiang Institute of Technology Smart Campus Project Expanding the Iot Smart Campus Market Luokung Technology Corp. announced that it won bid for Heilongjiang Institute of Technology ("HIT") Smart Campus first phase procurement project of USD 1.3 million, which is expected to be completed by the end of this year. The second and third phases will be implemented based on the infrastructure built by the first phase. The amount for the second phase is approximately USD 8 million. As the exclusive service provider for the first phase, it is highly probable that the Company will continue to implement the subsequent phases. The Company will build a comprehensive digital base for campus smart management and smart educational administration management that integrates software and hardware, all generated data is managed by the Luokung SuperEngine Spatiotemporal Data Engine. The first phase of the smart campus is a system based on the Internet of Things to integrate cloud desktop system, student sign-in system, faculty and student safety prevention and control system, emergency one-button alert system, environmental monitoring system, high-precision public area pandemic prevention and detection system, and other related smart systems. The construction of subsequent second and third phases of the project will rely on the digital base. Annuncio • Nov 25
Luokung Technology Corp. (NasdaqCM:LKCO) completed the acquisition of 67.36% stake in Beijing BotBrain AI Technology Ltd/BOTBRAIN AI LIMITED. Luokung Technology Corp. (NasdaqCM:LKCO) entered into an agreement to acquire 67.36% stake in Beijing BotBrain AI Technology Ltd and BOTBRAIN AI LIMITED for CNY 53.8 million on May 13, 2019. Under the terms of the transaction, Luokung Technology Corp. will pay RMB 20 million in cash and will issue 0.8 million shares as consideration. After the completion, Xueyu Lu will hold 32.64% stake and will continue as CEO of BotBrain AI.
Luokung Technology Corp. (NasdaqCM:LKCO) completed the acquisition of 67.36% stake in Beijing BotBrain AI Technology Ltd and BOTBRAIN AI LIMITED on November 23, 2020. Annuncio • Jun 16
Luokung Technology Corp. announced delayed 20-F filing On 06/15/2020, Luokung Technology Corp. announced that they will be unable to file their next 20-F by the deadline required by the SEC.