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GD Culture Group Limited Receives Nasdaq Notification Regarding Minimum Stockholders' Equity Deficiency
Newsfilterยท 2025-04-01 12:00
Core Points - GD Culture Group Limited ("GDC") received a Notification Letter from Nasdaq indicating non-compliance with Listing Rule 5550(b)(1), which requires a minimum of $2.5 million in stockholders' equity for continued listing [1] - As of the fiscal year ended December 31, 2024, GDC reported stockholders' equity of $2.643 million, which is above the minimum requirement, but Nasdaq determined that the company does not meet other listing criteria [1] - The Notification Letter does not have an immediate effect on GDC's listing status, and the company has until May 4, 2025, to submit a compliance plan [2] - If the compliance plan is accepted, GDC may receive an additional compliance period of up to 180 days to demonstrate compliance [2] - The company's business operations remain unaffected by the Notification Letter, and it is exploring options to regain compliance [3] - GDC is focused on entering the livestreaming market with an emphasis on e-commerce through its subsidiary, AI Catalysis Corp. [4] Company Overview - GD Culture Group Limited operates primarily through its subsidiaries, including AI Catalysis Corp. and Shanghai Xianzhui Technology Co, Ltd. [4] - The company is engaged in AI-driven digital human technology and live-streaming e-commerce business [4]
GD Culture Group Limited Receives Nasdaq Notification Regarding Minimum Stockholders' Equity Deficiency
Globenewswireยท 2025-04-01 12:00
Core Viewpoint - GD Culture Group Limited has received a notification from Nasdaq regarding non-compliance with listing rules, specifically concerning stockholders' equity requirements [1][2]. Group 1: Compliance Notification - The Company received a Notification Letter from Nasdaq dated March 20, 2025, indicating it is no longer in compliance with Nasdaq Listing Rule 5550(b)(1), which requires a minimum of $2.5 million in stockholders' equity [1]. - As of the fiscal year ended December 31, 2024, the Company reported stockholders' equity of $2.643 million, which is above the minimum requirement [1]. - Nasdaq has determined that the Company does not meet the alternatives of market value of listed securities or net income from continuing operations for continued listing [1]. Group 2: Compliance Plan - The Notification Letter does not have an immediate effect on the Company's listing on the Nasdaq Capital Market [2]. - The Company has 45 calendar days, until May 4, 2025, to submit a plan to regain compliance [2]. - If the compliance plan is accepted, the Company may be granted a compliance period of up to 180 calendar days from the date of the Notification Letter [2]. Group 3: Business Operations - The Company's business operations remain unaffected by the receipt of the Notification Letter [3]. - The Company is exploring various options to regain compliance and maintain its listing on the Nasdaq Capital Market [3]. - The Company intends to submit the compliance plan as soon as practicable [3]. Group 4: Company Overview - GD Culture Group Limited operates mainly through its subsidiaries, including AI Catalysis Corp. and Shanghai Xianzhui Technology Co, Ltd. [4]. - The Company plans to enter the livestreaming market with a focus on e-commerce through its wholly owned U.S. subsidiary, AI Catalysis [4]. - The main businesses of the Company include AI-driven digital human technology and live-streaming e-commerce [4].
GD Culture Group(GDC) - 2024 Q4 - Annual Report
2025-03-17 22:31
Company Classification and Stock Information - The company is classified as a "smaller reporting company," which subjects it to reduced disclosure requirements, potentially making its common stock less attractive to investors [325]. - As of March 12, 2025, the company had 12,282,894 shares of common stock issued and outstanding, with authorization to issue up to 200,000,000 shares [334]. - The common stock price may experience rapid and substantial volatility, making it difficult for prospective investors to assess its value [330]. - Future sales of common stock could lead to a decline in market price, affecting existing shareholders [336]. - The company has no plans to pay cash dividends on its common stock for the foreseeable future, intending to retain earnings for operations and growth [339]. - The market for the company's common stock may not be sustained, potentially impairing its ability to raise capital or enter into strategic partnerships [338]. Financial Performance and Risks - The company has incurred losses in each year since its inception, indicating a need for significant additional financing to continue operations [335]. - The company may face significant liabilities and costs due to potential securities litigation following periods of stock price volatility [333]. Cybersecurity Concerns - Cybersecurity threats remain a concern, with plans to develop information security policies and incident response plans to mitigate risks [327]. - The company acknowledges that it may not be able to fully mitigate cybersecurity risks, which could harm its reputation and business [328].
GD Culture Group Limited Announces Closing of Private Placement
Newsfilterยท 2025-03-13 11:30
Group 1 - GD Culture Group Limited ("GDC") announced the closing of a private placement on March 6, 2025, for the purchase and sale of up to 1,115,600 shares of its common stock at a price of approximately $0.896 per share [1][2] - The aggregate gross proceeds from the Offering were approximately $1.0 million [2] - The shares were sold under the exemption from registration requirements of the Securities Act of 1933, relying on Section 4(a)(2) and Rule 506(b) of Regulation D [3] Group 2 - GD Culture Group Limited is primarily engaged in AI-driven digital human technology and live-streaming e-commerce business through its subsidiaries, including AI Catalysis Corp. [5] - The company plans to enter the livestreaming market with a focus on e-commerce through its wholly owned U.S. subsidiary, AI Catalysis, which was incorporated in May 2023 [5]
Snail Games Unveils Official Panel Lineup for GDC - Exclusive Reveals and In-Depth Discussions Await
Prnewswireยท 2025-03-11 12:00
Core Insights - Snail, Inc. is set to showcase its latest projects and innovations at the 2025 Game Developers Conference (GDC), highlighting its role as a leading global independent developer and publisher of interactive digital entertainment [1][10] - The company will feature a series of panels that include new trailers, behind-the-scenes insights, and technical discussions, providing attendees with exclusive announcements and firsthand access to upcoming projects [1][10] Panel Schedule Highlights - The GDC will include a panel celebrating the 10-year anniversary of "ARK: Survival Evolved," offering insights into the company's plans for this milestone [2] - Another panel will focus on "For The Stars," discussing the creation of immersive worlds through game design and art [3] - The development journey of "Bellwright" will be explored, detailing the transition from modding to full development by Donkey Crew [4] - A technical showcase by Frozen Way will address the challenges in creating a lively world in "Honeycomb: The World Beyond" [5] - Finish Line Games will present their development journey and provide a first look at "Robots at Midnight" [6] - Loric Games will share their experiences and challenges faced during the development of "Echoes of Elysium" [7] Company Overview - Snail Games is recognized for delivering innovative and immersive gaming experiences across various genres and platforms, emphasizing technological innovation and community engagement [8]
GD Culture Group Limited Announces Pricing of Private Placement
Globenewswireยท 2025-03-05 12:30
Group 1 - GD Culture Group Limited ("GDC") has entered into a securities purchase agreement for the sale of up to 1,115,600 shares of its common stock at approximately $0.896 per share in a private placement, expected to raise about $1.0 million [1][2] - The transactions are anticipated to close on or about March 5, 2025, pending customary closing conditions [2] - The shares will be offered under the exemption from registration requirements of the Securities Act, with the company agreeing to register the resale of the shares within 60 days from the agreement date [3] Group 2 - GD Culture Group Limited is primarily engaged in AI-driven digital human technology and live-streaming e-commerce, with plans to enter the livestreaming market through its subsidiary AI Catalysis Corp [5]
GD Culture Group Limited Announces At-The-Market Equity Offering Program
Globenewswireยท 2025-02-10 13:00
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].
GD Culture Group Limited Announces At-The-Market Equity Offering Program
Newsfilterยท 2025-02-10 13:00
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].
Snail Games Unveils Ambitious Lineup for GDC 2025, Featuring Major Reveals, Exclusive Previews, and New Partnerships
Prnewswireยท 2025-02-07 13:00
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]
GDC Discontinues Livestreaming Gaming Business
Globenewswireยท 2025-01-27 13:00
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]