New Risk • Mar 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.18m 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 (36% average weekly change). Earnings have declined by 17% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 1379x increase in shares outstanding). Market cap is less than US$10m (US$9.18m market cap). Board Change • Jan 30
High number of new directors Chairwoman of the Board Chloe Zhou Parker was the last director to join the board, commencing their role in 2025. Announcement • Oct 31
Zeta Network Group announced delayed 20-F filing On 10/30/2025, Zeta Network Group announced that they will be unable to file their next 20-F by the deadline required by the SEC. Announcement • Oct 08
Zeta Network Group has filed a Follow-on Equity Offering in the amount of $14.9645 million. Zeta Network Group has filed a Follow-on Equity Offering in the amount of $14.9645 million.
Security Name: Class A Ordinary Shares
Security Type: Common Stock
Securities Offered: 800,000
Price\Range: $1
Discount Per Security: $0.07
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Securities Offered: 14,200,000
Price\Range: $0.9975
Discount Per Security: $0.069825
Transaction Features: Registered Direct Offering Announcement • Aug 15
Color Star Technology Co., Ltd. has filed a Follow-on Equity Offering in the amount of $6.412 million. Color Star Technology Co., Ltd. has filed a Follow-on Equity Offering in the amount of $6.412 million.
Security Name: Class A Ordinary Shares
Security Type: Common Stock
Securities Offered: 11,450,000
Price\Range: $0.56
Discount Per Security: $0.0364 Reported Earnings • Jun 30
First half 2025 earnings released: US$24.64 loss per share (vs US$86.27 loss in 1H 2024) First half 2025 results: US$24.64 loss per share. Net loss: US$22.8m (loss widened 8.0% from 1H 2024). Announcement • Jun 06
Color Star Technology Co., Ltd., Annual General Meeting, Jun 30, 2025 Color Star Technology Co., Ltd., Annual General Meeting, Jun 30, 2025, at 10:00 China Standard Time. Location: bluehub, 5a, 5th floor, building b, suzhou center office tower, no., 88 suxiu road, suzhou industrial park, suzhou, jiangsu, China New Risk • May 05
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. 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 Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 36% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 11x increase in shares outstanding). Market cap is less than US$10m (US$1.98m market cap). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Revenue is less than US$5m (US$2.8m revenue). New Risk • Apr 09
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 18% 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 Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 36% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 11x increase in shares outstanding). Market cap is less than US$10m (US$2.09m market cap). Minor Risk Revenue is less than US$5m (US$2.8m revenue). Announcement • Nov 21
Color Star Technology Receives Nasdaq Notification Letter Regarding Bid Price Deficiency Color Star Technology Co., Ltd. announced that on November 14, 2024, the Company received a notification letter from the Nasdaq Listing Qualifications Staff of The NASDAQ Stock Market LLC (“Nasdaq”) notifying the Company that the minimum bid price per share for its Class A ordinary shares has been below $1.00 for a period of 30 consecutive business days and the Company therefore no longer meets the minimum bid price requirements set in Nasdaq Listing Rule 5550(a)(2). The notification received has no immediate effect on the listing of the Company’s ordinary shares on Nasdaq. Under the Nasdaq Listing Rules, the Company has until May 13, 2025 to regain compliance. If at any time during such 180-day period the closing bid price of the Company’s Class A ordinary shares is at least $1 for a minimum of 10 consecutive business days, Nasdaq will provide the Company written confirmation of compliance. If the Company does not regain compliance during such 180-day period, the Company may be eligible for an additional 180 calendar days, provided that the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq except for Nasdaq Listing Rule 5550(a)(2), and provide a written notice of its intention to cure this deficiency during the second compliance period, by effecting a reverse stock split, if necessary. New Risk • Nov 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 131% This is considered a major 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 Share price has been highly volatile over the past 3 months (35% average weekly change). Earnings have declined by 36% per year over the past 5 years. Shareholders have been substantially diluted in the past year (131% increase in shares outstanding). Market cap is less than US$10m (US$2.86m market cap). Minor Risk Revenue is less than US$5m (US$2.8m revenue). New Risk • Oct 13
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.93m 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 (38% average weekly change). Earnings have declined by 45% per year over the past 5 years. Shareholders have been substantially diluted in the past year (471% increase in shares outstanding). Market cap is less than US$10m (US$9.93m market cap). Minor Risk Revenue is less than US$5m (US$1.1m revenue). Announcement • Sep 05
Color Star Technology Co., Ltd., Annual General Meeting, Sep 29, 2024 Color Star Technology Co., Ltd., Annual General Meeting, Sep 29, 2024, at 10:00 China Standard Time. Location: room 1801, north part, building 122, nanhudongyuan room 1801, building b, botaiguoji, chaoyang district, beijing, prc, 100102., China New Risk • Aug 07
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 16% 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$4.0m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 45% per year over the past 5 years. Shareholders have been substantially diluted in the past year (435% increase in shares outstanding). Minor Risks Revenue is less than US$5m (US$1.1m revenue). Market cap is less than US$100m (US$18.4m market cap). New Risk • Jun 02
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 Risks Earnings have declined by 56% per year over the past 5 years. Shareholders have been substantially diluted in the past year (148% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (US$4.98m 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). Board Change • Jan 31
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 5 experienced directors. No highly experienced directors. Independent Director Hung-Jen Kuo is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Nov 17
Color Star Technology Receives Nasdaq Notification Letter Regarding Bid Price Deficiency Color Star Technology Co., Ltd. announced that on November 14, 2023, the Company received a notification letter from the Nasdaq Listing Qualifications Staff of The NASDAQ Stock Market LLC notifying the Company that the minimum bid price per share for its Class A ordinary shares has been below $1.00 for a period of 30 consecutive business days and the Company therefore no longer meets the minimum bid price requirements set in Nasdaq Listing Rule 5550(a)(2). The notification received has no immediate effect on the listing of the Company’s ordinary shares on Nasdaq. Under the Nasdaq Listing Rules, the Company has until May 13, 2024 to regain compliance. If at any time during such 180-day period the closing bid price of the Company’s Class A ordinary shares is at least $1 for a minimum of 10 consecutive business days, Nasdaq will provide the Company written confirmation of compliance. If the Company does not regain compliance during such 180-day period, the Company may be eligible for an additional 180 calendar days, provided that the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq except for Nasdaq Listing Rule 5550(a)(2), and provide a written notice of its intention to cure this deficiency during the second compliance period, by effecting a reverse stock split, if necessary. Announcement • Nov 01
Color Star Technology Co., Ltd. announced delayed 20-F filing On 10/31/2023, Color Star Technology Co., Ltd. announced that they will be unable to file their next 20-F by the deadline required by the SEC. Announcement • Oct 19
Color Star Technology Co., Ltd. Launches an AI Virtual Band Color Star Technology Co., Ltd. announced that its artificial intelligence (AI) virtual band plans to release its first digital music album, "Color World" around November 2023. The "Vibrant Music Collective" is birthed from AI music technology developed by the Company's team. Every band member is designed using AI technology and the entire performance is also conducted through AI technology. The planned debut album "Color World" includes 12 songs of different musical styles. The Company has purchased and registered the copyrights to the lyrics and songs on the album. New Risk • Oct 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.76m 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 67% per year over the past 5 years. Market cap is less than US$10m (US$9.76m 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 (46% increase in shares outstanding). Announcement • Sep 13
Color Star Technology Co., Ltd. (NasdaqCM:ADD) entered into a non-binding letter of intent to acquire 60% stake in JingXiang (Australia) Pty. Ltd. Color Star Technology Co., Ltd. (NasdaqCM:ADD) entered into a non-binding letter of intent to acquire 60% stake in JingXiang (Australia) Pty. Ltd. on September 12, 2023.Transaction is subject to completion of the transaction is subject to due diligence investigations by the relevant parties, the negotiation and execution of a definitive agreement, satisfaction of the conditions negotiated including the approval of the Company's Board of Directors and the satisfaction of other customary closing conditions. Announcement • Jul 13
Color Star Technology Co., Ltd. announced that it has received $1.02 million in funding from Streeterville Capital, LLC Color Star Technology Co., Ltd. announced that it has entered into a securities purchase agreement with new investor Streeterville Capital, LLC on July 11, 2023. The company will issue an unsecured promissory note in the original principal amount of $1,100,000.00 for gross proceeds of $1,020,000 in the transaction. The promissory note will be convertible into Class A ordinary shares, $0.04 par value per share, of the company. The note bears a simple interest at a rate of 8% per annum. All outstanding principal and accrued interest on the note will become due and payable twelve months after the purchase price of the note is delivered by investor to the company. The net proceeds received by the company in transaction is $1,000,000 after deducting original issue discount of $80,000 along with $20,000 for Investor’s fees, costs and other transaction expenses incurred in connection with the purchase and sale of the note. The company may prepay all or a portion of the note at any time by paying 120% of the outstanding balance elected for pre-payment. The Investor has the right to redeem the note at any time after the date that is six months from the purchase price date by providing the company with a redemption notice. The company has a option to redeem the promissory note in cash or ordinary shares of the company. In case of default, the interest rate shall accrue on the outstanding balance at the rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law. The issuances of the note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933. New Risk • Jun 18
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 16% 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 Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 67% per year over the past 5 years. Shareholders have been substantially diluted in the past year (104% increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$14.0m market cap). Announcement • Feb 17
Color Star Technology Co., Ltd., Annual General Meeting, Mar 24, 2023 Color Star Technology Co., Ltd., Annual General Meeting, Mar 24, 2023, at 09:00 US Eastern Standard Time. Location: at Angsana Hangzhou Hotel, No. 21 Zijingang Road, Xihu District Hangzhou China Agenda: To consider and vote upon a proposal to alter the share capital of the Company; to consider Fifth Amended and Restated Memorandum of Association and Articles of Association of the Company; to approve and adopt the Company’s 2023 Equity Incentive Plan and all transactions contemplated thereunder; to elect and/or re-elect, as applicable, Wei Zhang, Louis Luo, Ahmad Khalfan Ahmad Saeed Almansoori, Hung-Jen Kuo, Honglei Jiang, Ahmed Essa Mohammad Saleh and Muhammad Irfan to serve on the Board until their death, resignation, or removal; to ratify the appointment of Audit Alliance LLP as the Company’s independent registered public accounting firm for the fiscal year ending June 30, 2023; and to consider and take action upon such other matters as may properly come before the Annual General Meeting or any adjournment or postponement thereof. Board Change • Jan 31
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, 3 were independent directors. The company's board is composed of: 7 new directors. 5 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Hung-Jen Kuo is the most experienced director on the board, commencing their role in 2020. Independent Director Honglei Jiang was the last independent director to join the board, commencing their role in 2023. 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. Announcement • Jan 07
Color Star Technology Co., Ltd. Announces Board and Committee Changes Color Star Technology Co., Ltd. announced that Mr. Long Yi, an independent director, chairman of the audit committee of the board of directors of the Company (the ‘Board’), member of the corporate governance & nominating committee and compensation committee of the Board, notified the Company of his resignation as a director for personal reasons, effective January 4, 2023. Mr. Yi’s resignation from the Board was not a result of any disagreement with the Company on any matter related to the operations, policies, or practices of the Company. Effective on January 4, 2023, the board of directors of the Company appointed Mr. Honglei Jiang as an independent director of the Board, chairman of the audit committee of the Board, member of the corporate governance & nominating committee and compensation committee of the Board to fill the vacancies created by Mr. Yi’s resignation. Mr. Honglei Jiang, has served as the chairman of the board of Beijing Huaihao Education Consulting Co., Ltd. since 2020. From 2017 to 2020, Mr. Jiang served as chief executive officer of Deyi Financial Leasing Co., Ltd. From February 2015 to December 2016, Mr. Jiang served as executive vice president of Kunsheng Financial Leasing Co., Ltd. Mr. Jiang earned his master’s degree in investment economics from Dongbei University of Finance & Economics in 2008, and obtained his bachelor’s degree in economics from Changchun University of Science and Technology in 2005. Buying Opportunity • Sep 15
Now 43% undervalued after recent price drop Over the last 90 days, the stock is down 45%. The fair value is estimated to be US$0.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 36% over the last 3 years. Earnings per share has grown by 86%. Board Change • Aug 17
Less than half of directors are independent There are 4 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: 4 new directors. 5 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Hung-Jen Kuo is the most experienced director on the board, commencing their role in 2020. Independent Director Leo Yi was the last independent 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: Minority of independent directors. Lack of experienced directors. Reported Earnings • Jul 01
First half 2022 earnings released: US$0.004 loss per share (vs US$0.11 loss in 1H 2021) First half 2022 results: US$0.004 loss per share (up from US$0.11 loss in 1H 2021). Revenue: US$9.43m (up 305% from 1H 2021). Net loss: US$540.3k (loss narrowed 89% from 1H 2021). Board Change • Apr 27
Less than half of directors are independent There are 5 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: 5 new directors. 4 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Hung-Jen Kuo is the most experienced director on the board, commencing their role in 2020. Independent Director Leo Yi was the last independent 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: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Apr 20
Less than half of directors are independent There are 5 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: 5 new directors. 4 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Hung-Jen Kuo is the most experienced director on the board, commencing their role in 2020. Independent Director Leo Yi was the last independent 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: Minority of independent directors. Lack of board continuity. Lack of experienced directors.