Core Viewpoint - GD Culture Group Limited has entered into an At-the-Market issuance sales agreement to potentially raise up to $10 million through the sale of its common stock [1][2]. Group 1: Agreement Details - The company may issue and sell shares at prevailing market prices, with the volume and timing of sales determined at its discretion [2][3]. - The sales will be conducted as an "at-the-market" offering, adhering to the U.S. Securities Act regulations [3]. - The sales agent, Univest Securities, will use commercially reasonable efforts to sell the shares according to the agreement [3]. Group 2: Use of Proceeds - Proceeds from the ATM program are expected to be used for general working capital and corporate purposes [2]. Group 3: Registration and Compliance - The shares have been registered under a shelf registration statement filed with the SEC, which became effective on August 20, 2024 [4]. - A final prospectus supplement will be filed with the SEC, providing details of the offering [4]. Group 4: Company Overview - GD Culture Group Limited operates primarily through its subsidiaries, including AI Catalysis Corp, and is entering the livestreaming e-commerce market [6]. - The company focuses on AI-driven digital human technology and live-streaming e-commerce [6].

Core Viewpoint - GD Culture Group Limited has entered into an At-the-Market issuance sales agreement to potentially raise up to $10 million through the sale of its common stock [1][2]. Group 1: Agreement Details - The company may issue and sell shares at prevailing market prices, with the volume and timing of sales determined at its discretion [2][3]. - The sales will be conducted as an "at-the-market" offering, allowing for sales through the Nasdaq Capital Market or other trading markets [3]. - The sales agent, Univest Securities, LLC, will use commercially reasonable efforts to sell the shares in accordance with the agreement [3]. Group 2: Use of Proceeds - Proceeds from the ATM program are expected to be used for general working capital and corporate purposes [2]. Group 3: Registration and Compliance - The shares have been registered under a shelf registration statement previously filed and declared effective by the SEC [4]. - A final prospectus supplement and accompanying prospectus will be filed with the SEC and made available to the public [4]. Group 4: Company Overview - GD Culture Group Limited operates primarily through its subsidiaries, including AI Catalysis Corp., and is planning to enter the livestreaming e-commerce market [6]. - The company's main businesses include AI-driven digital human technology and live-streaming e-commerce [6].

Core Insights - Snail Games is showcasing its growth strategy and new developments at the 2025 Game Developers Conference (GDC) [1][4] - The company is set to reveal major updates for its ARK franchise and provide insights into new titles and partnerships [2][3] Group 1: Game Developments - Major updates for the ARK franchise will be announced, expanding on its legacy [2] - Snail Games will reveal the roadmap for Bellwright as it progresses towards version 1.0 and expands to new platforms [2] - A first look at an unannounced title being developed in-house will be presented at GDC [2] Group 2: Partnerships and Collaborations - Snail Games will highlight new partnerships for projects like Echoes of Elysium, Robots at Midnight, and Honeycomb: The World Beyond [3] - The company aims to set the stage for future collaborations and innovations in the gaming industry [3] Group 3: Vision and Strategy - GDC 2025 provides an opportunity for Snail Games to discuss its broader vision for growth, innovation, and partnerships [4] - Senior executives will be available to discuss the company's market performance and its evolving role in the global gaming industry [4] Group 4: Event Participation - Snail Games will be located at Booth S1149 at GDC 2025, offering press attendees a chance to connect with the team [5] - The company encourages creators interested in collaborative opportunities to reach out for discussions [5]

Core Viewpoint - GD Culture Group Limited has decided to discontinue its online livestreaming gaming business to optimize resources and focus on areas with greater long-term potential [1][2][3] Company Strategy - The discontinuation aligns with the company's broader strategy to prioritize resources on products and initiatives that align with its long-term vision and customer needs [2][3] - The livestreaming gaming business was launched 18 months ago and aimed to capitalize on a rapidly evolving industry, engaging a global audience through social media [2] Community Engagement - The company expressed gratitude towards its community of players, streamers, and stakeholders for their support over the past 18 months, highlighting their role in the platform's success [3] Future Focus - The company plans to refocus its efforts on AI-driven digital human technology and live-streaming e-commerce through its subsidiary, AI Catalysis [4]

Financial Performance - The company's total revenues for the three months ended September 30, 2024, were $nil, indicating no revenue generation during this period[209]. - The loss from operations for the three months ended September 30, 2024, was $1,093,476, a reduction of 31.5% from the loss of $1,596,340 in the prior year[209]. - The net loss for the three months ended September 30, 2024, was $3,839,333, which represents an increase of 8.7% compared to the net loss of $3,530,760 for the same period in 2023[209]. - The company's net loss for the three months ended September 30, 2024, was approximately $3.8 million, an increase of 8.7% from approximately $3.5 million for the same period in 2023[213]. - Loss from continuing operations for the nine months ended September 30, 2024, was approximately $11.6 million, an increase of 635.8% from approximately $1.6 million for the same period in 2023[219]. - Net loss for the nine months ended September 30, 2024, was approximately $11.5 million, compared to approximately $3.7 million for the same period in 2023[240]. Operating Expenses - Total operating expenses decreased by 31.5% to $1,093,476 for the three months ended September 30, 2024, compared to $1,596,340 for the same period in 2023[209]. - Operating expenses for the three months ended September 30, 2024, increased to approximately $7.4 million, a rise of 295.3% from approximately $1.9 million for the same period in 2023[214]. - Selling and marketing expenses surged to approximately $2.9 million for the three months ended September 30, 2024, compared to approximately $nil for the same period in 2023[210]. - General and administrative expenses rose by approximately $2.5 million, from approximately $1.6 million for the three months ended September 30, 2023, to approximately $4.3 million for the same period in 2024, marking an increase of 132.1%[214]. - Research and development expenses increased to approximately $0.7 million for the nine months ended September 30, 2024, compared to approximately $nil for the same period in 2023[217]. Impairment and Other Losses - The company reported a significant other-than-temporary impairment loss of $2,756,986 for the three months ended September 30, 2024[209]. - The company recognized impairment losses of $2.8 million for the nine months ended September 30, 2024, related to software copyrights[227]. - The total other income (expenses) for the three months ended September 30, 2024, was approximately $(4.2) million, a decrease of 2964.7% from $147,018 for the same period in 2023[214]. - Other income decreased by approximately $4.4 million during the nine months ended September 30, 2024, compared to $147,018 for the same period in 2023[218]. Cash Flow and Financing - Net cash used in operating activities for the nine months ended September 30, 2024, was approximately $5.3 million, a decrease from $6.5 million for the same period in 2023[240]. - Net cash used in investing activities was approximately $0.7 million for the nine months ended September 30, 2024, down from approximately $5.0 million in 2023[241]. - Net cash provided by financing activities was approximately $0.8 million for the nine months ended September 30, 2024, a decrease of approximately $11.9 million from $12.7 million in 2023[242]. - The Company received a total of $309,500 in loans from the CEO for working capital purposes, with loans due between September 2025 and October 2025[235]. - The Company plans to raise additional debt or equity capital to fund future operations, with no assurance of obtaining sufficient funds[236]. Strategic Initiatives - The company aims to generate revenue from service revenue and advertising from digital human creation, product sales from social live streaming e-commerce, and virtual paid gifts from live streaming interactive gaming[197]. - The company is focusing on expanding its market presence through social media and enhancing its digital human technology applications in various sectors[207]. - The company has invested in Shanghai Xianzhui, increasing its equity interest to 73.33% as of September 30, 2024[200]. - The company entered into a software purchase agreement for $1,248,000, to be paid with 1,560,000 shares of common stock, to enhance its AI business[205]. Risk Factors - The Company assesses that current working capital, along with the CEO's financial support, will be sufficient to meet obligations for the next 12 months[236]. - The Company is exposed to inflation risk, which could impair operating results if raw material and overhead costs increase significantly[250]. - The Company has implemented cost-cutting measures to reduce operating expenditures and loss[236]. - The company received a notice from Nasdaq regarding non-compliance with the minimum bid price requirement, but later regained compliance[203][204].

Core Insights - GD Culture Group Limited ("GDC") has partnered with Tuolan Network Technology Co., Ltd to enhance its AI Creator Community, aimed at empowering creators to produce innovative AI-generated content [1][4] - The partnership includes the launch of an AI Video Contest to inspire global creators to explore AI in video production, with prizes and opportunities for winners to participate in future projects [2][3] Group 1: Partnership and Community Development - The collaboration with Tuolan is designed to enrich the AI Creator Community, increasing brand exposure and encouraging the use of the company's technology and services [1] - The AI Video Contest invites global participants to submit innovative AI-generated videos, with first place receiving a prize of $3,000 [2] Group 2: Educational Initiatives - AI Catalysis and Tuolan will offer courses to help creators enhance their skills in areas such as advanced AI video production and engaging TikTok audiences [3] - Tuolan's expertise in TikTok operations will be leveraged to promote the Contest and ensure significant visibility [3] Group 3: Company Overview - GD Culture Group Limited operates mainly through its subsidiaries, including AI Catalysis Corp, and plans to enter the livestreaming market focusing on e-commerce and interactive games [5]

Core Insights - GD Culture Group Limited launched SyncWaveX, a web-based AI application that revolutionizes video creation by automatically syncing lip and facial movements with audio, enhancing the ease of creating ultra-realistic videos [1][4] - SyncWaveX utilizes a direct audio-to-video synthesis approach, eliminating the need for traditional 3D modeling, allowing for quick and accurate video generation that matches audio input seamlessly [2][3] - The application features advanced facial recognition and lip-sync technology, ensuring lifelike video output that aligns perfectly with audio, providing an immersive viewing experience [3][4] Product Features - SyncWaveX allows users to create unlimited videos from a single template in minutes, with an intuitive editing interface suitable for first-time video editors [3][4] - The tool captures a full range of facial motions, including eyebrows, cheeks, nose, and lips, ensuring high accuracy in video generation [3] - It integrates voice synthesis and speech recognition technologies, enabling the creation of personalized speech that resembles the original speaker [2][5] Market Potential - The company envisions SyncWaveX as a transformative tool for various applications, including campaign ad creation, translation services, and assisting individuals who have lost the ability to speak [4] - During its pre-launch stage, SyncWaveX generated significant interest, with over 10,000 videos created by users, indicating strong community engagement and potential for growth in social media presence [4] Company Overview - GD Culture Group Limited operates primarily through its subsidiaries, including AI Catalysis Corp, and plans to enter the livestreaming market focusing on e-commerce and interactive games [6] - The company's main business areas include AI-driven digital human technology and livestreaming e-commerce [6]

Revenue and Profitability - Total revenues decreased by approximately $150,000 to nil for the three months ended June 30, 2024, compared to approximately $150,000 for the same period in 2023, primarily due to no sales of software copyright in 2024 [222]. - Gross profit decreased by $150,000 to nil during the three months ended June 30, 2024, from $150,000 for the same period in 2023, attributed to the absence of software copyright sales [223]. - The Company's gross profit decreased by $150,000 to nil during the six months ended June 30, 2024, from $150,000 for the same period in 2023, attributed to no sales of software copyright [231]. - Net loss for the three months ended June 30, 2024, was $3,592,912, compared to a net loss of $155,498 for the same period in 2023, reflecting a 2,210.6% increase in losses [221]. - The Company's net loss increased by approximately $7.6 million, or 4,283.6%, to approximately $7.8 million for the six months ended June 30, 2024, from $176,807 for the same period in 2023 [235]. - The net loss for the six months ended June 30, 2024, was approximately $7.8 million, compared to approximately $177,000 for the same period in 2023 [254]. Operating Expenses - Operating expenses increased significantly to approximately $2.1 million for the three months ended June 30, 2024, compared to approximately $0.3 million for the same period in 2023, marking a 684.9% increase [221]. - General and administrative expenses surged by approximately $1.4 million to approximately $1.7 million for the three months ended June 30, 2024, driven by higher personnel costs and operating expenses [224]. - General and administrative expenses increased by approximately $3.2 million from approximately $0.3 million for the six months ended June 30, 2023, to approximately $3.5 million for the same period in 2024, driven by various operational costs [232]. - Selling and marketing expenses rose to $2.4 million for the six months ended June 30, 2024, compared to nil for the same period in 2023, reflecting increased investment in digital marketing [232]. - Selling expenses rose to approximately $208,333 for the three months ended June 30, 2024, compared to nil for the same period in 2023, reflecting increased marketing efforts [224]. Research and Development - Research and development expenses increased to approximately $217,500 for the three months ended June 30, 2024, compared to nil for the same period in 2023, indicating a focus on AI-driven digital human applications [224]. - Research and development expenses increased to approximately $0.4 million for the six months ended June 30, 2024, compared to nil for the same period in 2023, focusing on artificial intelligence-based digital human applications [232]. Loss from Operations - Loss from operations was $2,128,924 for the three months ended June 30, 2024, compared to a loss of $121,237 for the same period in 2023, representing a 1,656.0% increase in losses [221]. - Loss from operations for the six months ended June 30, 2024, was approximately $7.8 million, an increase of approximately 6,067.1% from $125,675 for the same period in 2023 [234]. - Loss from operations was $(6,307,371) for the six months ended June 30, 2024, compared to $(125,854) for the same period in 2023, marking a significant increase [229]. Cash Flow and Liquidity - As of June 30, 2024, the Company had $301,837 in operating bank accounts and working capital of approximately $2.1 million [249]. - Net cash used in operating activities was approximately $5.1 million for the six months ended June 30, 2024, compared to approximately $1.7 million for the same period in 2023 [254]. - Net cash used in investing activities was approximately $0.7 million for the six months ended June 30, 2024, compared to $4,642 for the same period in 2023 [255]. - Net cash provided by financing activities was approximately $0.8 million for the six months ended June 30, 2024, a decrease of approximately $7.9 million from $8.7 million for the same period in 2023 [256]. - The Company plans to raise additional debt or equity capital to fund future operations, but there is no assurance that sufficient funds will be obtained [250]. - The Company is exposed to liquidity risk and will seek short-term funding from financial institutions and owners when necessary [260]. Strategic Initiatives - The company aims to generate revenue from service and advertising related to digital human creation, product sales from live streaming e-commerce, and virtual paid gifts from interactive gaming [208]. - The company has expanded its operations into social media marketing through the establishment of Shanghai Xianzhui, where it owns 73.3333% equity interest [210][211]. Risks - The Company is also exposed to inflation risk, which could impair operating results if raw material and overhead costs increase significantly [261]. - The Company has implemented cost-cutting measures to reduce operating expenditures and loss [250].

Financial Performance - For the three months ended March 31, 2024, the company's operating expenses increased to approximately $4.18 million, a 90,401.3% increase from $4,617 in the same period of 2023[200]. - The loss from continuing operations for the three months ended March 31, 2024, was approximately $4.16 million, reflecting an increase of 89,948.5% from a loss of $4,617 in the same period of 2023[204]. - The company's net loss for the three months ended March 31, 2024, was approximately $4.16 million, a 19,410.7% increase from a net loss of $21,309 in the same period of 2023[205]. - The net loss for the three months ended March 31, 2024, was approximately $4.2 million, compared to approximately $21 thousand for the same period in 2023[220]. Expenses Breakdown - Selling and marketing expenses rose to approximately $2.2 million for the three months ended March 31, 2024, compared to nil for the same period in 2023[202]. - Research and development expenses increased to $217,500 for the three months ended March 31, 2024, compared to nil for the same period in 2023[202]. - Net cash used in operating activities for the three months ended March 31, 2024, was approximately $3.6 million, compared to approximately $0.4 million for the same period in 2023[220]. - Net cash used in investing activities was approximately $1.9 million for the three months ended March 31, 2024, compared to nil for the same period in 2023[221]. - Net cash provided by financing activities was approximately $0.8 million for the three months ended March 31, 2024, compared to nil for the same period in 2023[222]. Cash Position - As of March 31, 2024, the company's net working capital was approximately $5.6 million[216]. - As of March 31, 2024, the company had cash of $486,201, down from $5,175,518 as of December 31, 2023[219]. - The company may seek to issue debt or equity securities or obtain additional credit facilities if cash requirements exceed available cash[217]. Strategic Initiatives - The company aims to generate revenue from service and advertising revenue related to digital human creation, product sales from social live streaming e-commerce, and virtual paid gifts from live streaming interactive gaming[190]. - The company has launched a live-streamed game called "Trible Light," which is currently being livestreamed on TikTok, alongside other licensed games[189]. - The company is focused on expanding its market presence on social media to enhance its competitive position in the e-commerce and live streaming sectors[198]. Corporate Governance - The company has appointed HTL as its new independent registered public accounting firm after dismissing Enrome LLP[191]. Accounting Standards - The company does not believe that the adoption of ASU 2023-09 will have a material impact on its financial statements and disclosures[212]. - The company has evaluated and concluded that the new guidance from ASU 2023-08 will not impact its unaudited condensed consolidated financial statements[214]. - The company plans to provide enhanced reportable segment financial disclosures effective with its Annual Report on Form 10-K for the year ending December 31, 2024[213]. Ownership Structure - The company owns 73.3333% of Shanghai Xianzhui after acquiring an additional 13.3333% equity interest through a stock issuance valued at $2.7820 per share[193].

NEW YORK, April 22, 2024 (GLOBE NEWSWIRE) -- GD Culture Group Limited ("GDC" or the "Company") (NASDAQ:GDC), and its subsidiary, AI Catalysis Corp. ("AI Catalysis"), today announced that the Company has attained significant achievements in expanding market reach for small and medium-sized businesses ("SMBs") through TikTok, notably highlighted by the strategic partnership with Bloom Koselig, a well-renowned perfume brand on TikTok. Bloom Koselig is known for its organic, long-lasting perfumes with eco-frien ...