공시 • Sep 20
DigiAsia Corp.(OTCPK:FAAS.F) dropped from NASDAQ Composite Index DigiAsia Corp has been dropped from the NASDAQ Composite Index. New Risk • Sep 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$7.65m 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 No financial data reported. Share price has been highly volatile over the past 3 months (19% average weekly change). Market cap is less than US$10m (US$7.65m market cap). Board Change • Jul 30
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (5 non-independent directors). Director . Rudiantara is the most experienced director on the board, commencing their role in 2022. Independent Director Andreas Gregori was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. 공시 • May 01
DigiAsia Corp. announced delayed 20-F filing On 04/30/2025, DigiAsia Corp. announced that they will be unable to file their next 20-F by the deadline required by the SEC. 공시 • Mar 16
DigiAsia Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency DigiAsia Corp. announced that on December 17, 2024, the Company received a notification letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq") regarding a failure to meet Nasdaq's minimum bid price requirements. The Notification Letter advised that for the last 30 consecutive business days, from November 1, 2024 through December 16, 2024, the minimum closing bid price per share for the Company's ordinary shares was below the $1.00 per share requirement for continued listing under Nasdaq Listing Rule 5550(a)(2). The Notification Letter has no immediate effect on the listing or trading of the Company's ordinary shares on the Nasdaq. In accordance with the Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from the date of notification, or until June 16, 2025, 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 during this 180-day period, or before June 16, 2025, the closingbid price of the Company's ordinary shares is at least $1.00 per share for a minimum of ten (10) consecutive business days, the Nasdaq will provide written notification that the Company has achieved compliance with the minimum bid price requirement and the matter will be closed. In the event the Company does not regain compliance by June 16, 2025, the Company may be eligible for additional time to regain compliance, if the Company provides written notice of its intention to cure the deficiency during the second compliance period (including by effecting a reverse stock split, if necessary) and is in compliance with the continued listing requirement for the market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid price requirement. If it appears to the staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, the Nasdaq will provide notice that its securities will be subject to delisting, and the Company may appeal such determination to a hearing panel. The Company intends to monitor the closing bid price of its ordinary shares between now and June 16, 2025. In the event the Company is not eligible for additional time to regain compliance with the Nasdaq requirements towards the end of the first compliance period, the Company's board of directors will consider options that may be available to achieve compliance. New Risk • Dec 30
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 Risks No financial data reported. Share price has been highly volatile over the past 3 months (25% average weekly change). Minor Risk Market cap is less than US$100m (US$48.1m market cap). New Risk • Oct 18
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 Share price has been highly volatile over the past 3 months (29% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (US$95.0m market cap). 공시 • Aug 20
DigiAsia Corp. Appoints Andreas Gregori to its AI Strategic Advisory Board DigiAsia Corp. announced that Andreas Gregori, a current member of DigiAsia’s board of directors and highly experienced business executive and entrepreneur, has been appointed as an advisor to its recently established AI strategic advisory board. Mr. Gregori is a seasoned commercial leader with a digital and customer-first mindset. His deep knowledge of leveraging technology and AI in meaningful ways will propel the Company as it rapidly integrates AI solutions to enhance its Fintech offerings for enterprise clients and partners in Indonesia and beyond. Mr. Gregori has over 15 years of global C-suite experience within leading technology and telecommunications companies with vast experience driving growth through bold commercial and technology programs for multi-billion-dollar organizations and start-ups in both mature and emerging markets. Since 2019, Mr. Gregori has served as President of Axiom D Inc., where he devises new digital revenue streams and business models around innovative value propositions, customer value management and data monetization. Previously, Mr. Gregori served as Chief Marketing Officer and Chief Digital Officer of Indosat Ooredoo, Indonesia’s second largest telecommunications provider, where he led the successful company transformation to establish itself as a leading digital telco in Indonesia. Mr. Gregori has a Ph.D. in Computer Science and Artificial Intelligence from Technische Universitat Berlin, Germany, and an M.S. in Computer Science from Technische Universitat Darmstadt, Germany. New Risk • Aug 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$94.7m This is considered a minor 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 Risk Share price has been highly volatile over the past 3 months (19% average weekly change). Minor Risk Market cap is less than US$100m (US$94.7m market cap). Board Change • Jul 30
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Director . Rudiantara is the most experienced director on the board, commencing their role in 2022. Independent Director Andreas Gregori was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. 공시 • May 02
DigiAsia Corp. announced delayed 20-F filing On 04/30/2024, DigiAsia Corp. announced that they will be unable to file their next 20-F by the deadline required by the SEC. 공시 • Apr 03
DigiAsia Bios Pte Ltd completed the acquisition of StoneBridge Acquisition Corporation (NasdaqCM:APAC). DigiAsia Bios Pte Ltd signed a non-binding letter of intent to acquire StoneBridge Acquisition Corporation (NasdaqCM:APAC) for approximately $540 million in a reverse merger transaction on September 16, 2022. DigiAsia Bios Pte Ltd signed a binding business combination agreement to acquire StoneBridge Acquisition Corporation (NasdaqCM:APAC) in a reverse merger transaction on January 5, 2023. The Transaction values the combined company at a pre-money equity valuation of $500 million. Upon completion of the Transaction, the combined company will be named DigiAsia and will trade on The Nasdaq Stock Market under the ticker symbol ‘FAAS’. All current shareholders of DigiAsia including Mastercard (NYSE:MA) and Reliance Capital Management (RCM) will roll over 100% of their equity. DigiAsia has also secured a partnership with DBS Bank Ltd and Southeast Asia, on Oct 31st, 2022, to disburse loans to DigiAsia’s lending marketplace via its KreditPro platform. The business combination agreement, which has been unanimously approved by the Board of Managers of DigiAsia and by the Board of Directors of APAC, is expected to close during the second quarter of 2023, subject to the approval of the shareholders of APAC and other customary closing conditions. As of June 22, 2023, parties to the Business Combination Agreement entered into Amendment No. 1 to the business combination Agreement (the "Amendment") pursuant to which the parties agreed to extend the termination Date (as defined in the Business Combination Agreement) from June 30, 2023, to December 29, 2023. The shareholders of StoneBridge approved the transaction on December 19, 2023. As of March 25, 2024, the transaction is expected to close by April 2024.Michael J. Blankenship, Louis B. Savage, James Brown, Dean Hinderliter, Emily Barrera, Jonathan Bodle, John Niedzwiecki, Christine Olivo, Alexandra Santana and Ben Smolij of Winston & Strawn LLP is acting as legal advisor to StoneBridge Acquisition Corporation and Rajiv Khanna and Kelvin Kesse of Norton Rose Fulbright US LLP is acting as legal advisor to DigiAsia Bios Pte Ltd in this transaction. o3 Capital acted as financial advisor for DigiAsia. Sett & Lucas acted as financial advisor for StoneBridge and Morrow & Co., LLC acted as an information agent for StoneBridge and will receive a fee of $20000. Mark Zimkind of Continental Stock Transfer & Trust Company acted as transfer agent for StoneBridge. Dentons Rodyk & Davidson LLP acted as legal advisor for StoneBridge and Rajah & Tann for DigiAsia. J.V.B. Financial Group, LLC acted as financial advisor to StoneBridge and will receive a fee of $1,500,000. Laurel Hill Advisory Group, LLC acted as an information agent to StoneBridge and will receive a fee of $16,500.DigiAsia Bios Pte Ltd completed the acquisition of StoneBridge Acquisition Corporation (NasdaqCM:APAC) in a reverse merger transaction on April 2, 2024.