Core Insights - Treasure Global Inc. has acquired a 51% controlling stake in Tien Ming Distribution, marking a strategic expansion into Malaysia's fast-growing FMCG and e-commerce markets [2][3][5] - The acquisition is expected to generate USD116 million in revenue over the next three years by leveraging Tien Ming Distribution's partnership with Fraser & Neave Holdings Bhd (F&N) [6][8] - Malaysia's FMCG market is projected to grow at a CAGR of 7.95% from 2023 to 2027, reaching approximately USD159 billion by 2033 [4] Company Overview - Treasure Global is a technology-driven digital commerce and fintech solution provider, focusing on innovative technology platforms that drive digital transformation [11] - The company’s flagship product, the ZCITY Super App, integrates e-payment solutions with customer rewards, attracting over 2.9 million registered users as of November 2024 [11] Market Dynamics - F&N is one of Malaysia's largest food and beverage conglomerates, with reported revenues of RM5.25 billion (approximately USD1.16 billion) for fiscal 2024 [10] - Tien Ming Distribution specializes in logistics and e-commerce, serving as the strategic fulfillment partner for F&N, and operates TM Grocer, an online grocery platform [9] Strategic Benefits - The acquisition allows Treasure Global to capture 10% of F&N's annual sales, enhancing its operational efficiency and competitive edge in the FMCG and e-commerce sectors [3][5] - By integrating advanced digital commerce technology with F&N's distribution network, the company aims to drive substantial revenue growth [3][5] Financial Projections - The anticipated revenue growth of USD116 million will be driven by the distribution of leading household brands such as 100PLUS, F&N SEASONS, and Magnolia [6] - The company plans to invest an initial RM500,000 (approximately USD110,000) with potential additional investments of up to RM3,000,000 (approximately USD660,000) based on future performance [7]

User Engagement and Growth - As of September 30, 2024, the company recorded 2,704,482 registered users and 25,216 active users on the ZCITY platform, reflecting a growth rate of approximately 2.0% in registered users but a decline of 38.3% in active users over the last five quarters [226]. - The company experienced a decrease in the number of new registered users, with only 3,293 new users in the quarter ending September 30, 2024, compared to 102,752 in the previous year [226]. - As of September 30, 2024, the total registered users on the ZCITY platform reached 2,704,482, with only 25,216 active users, resulting in an active user rate of 0.9% [230]. - The active user churn rate improved to 18.3% by September 30, 2024, while the retention rate increased to 81.7% [231]. Financial Performance - Total revenues for the three months ended September 30, 2024, decreased by approximately $13.3 million or 98.5% to $207,371 compared to $13,463,895 for the same period in 2023 [233]. - Product and loyalty program revenue dropped by approximately $13.1 million or 99.4% to $81,745 for the three months ended September 30, 2024, primarily due to a strategic decision to streamline the product line [235]. - Transaction revenue increased by 113.2% to approximately $43,080 for the three months ended September 30, 2024, driven by a partnership with Creditlab Sdn. Bhd. [236]. - Member subscription revenue decreased by 52.3% to approximately $82,546 for the three months ended September 30, 2024, attributed to a slowdown in acquiring new customers [237]. - Total cost of revenue decreased by approximately $13.3 million or 99.7% to $35,199 for the three months ended September 30, 2024, in line with the decrease in revenue [239]. - Gross profit for the three months ended September 30, 2024, amounted to approximately $172,172, reflecting an increase of approximately $9,538 or 5.9% compared to the same period in 2023 [240]. Expenses and Cash Flow - Selling expenses decreased by approximately $0.7 million or 89.8% to $78,000 for the three months ended September 30, 2024, due to reduced marketing and promotion expenses [244]. - General and administrative expenses decreased by approximately $0.4 million or 36.2% to $800,000 for the three months ended September 30, 2024, primarily due to lower salary and professional fee expenses [245]. - Other expense, net decreased by approximately $71,000 to $0.1 million for the three months ended September 30, 2024, primarily due to a decrease in amortization of debt discount [248]. - Provision for income taxes decreased to approximately $11,391 for the three months ended September 30, 2024, from $14,925 in 2023 [249]. - Net cash used in operating activities was approximately $976,319 for the three months ended September 30, 2024, compared to $1,916,603 in 2023 [258]. - Net cash used in investing activities was approximately $1.5 million for the three months ended September 30, 2024, primarily due to a collaboration deposit [263]. - Net cash provided by financing activities was approximately $2.5 million for the three months ended September 30, 2024, mainly from the issuance of common stock [264]. Strategic Initiatives - The company successfully launched the ZCITY App in Malaysia in June 2020, which aims to become the top rewards and loyalty platform in Malaysia and expand its reach in Southeast Asia and Japan [202]. - The company is integrating credit services into the ZCITY App through a partnership with Credilab Sdn Bhd, aiming to enhance user engagement and overall credit services offering [217]. - The company has partnered with Octagram Investment Limited to develop mini-game modules for the ZCITY App, enhancing interactive features and user engagement [218]. - The company is developing a Live Streaming Platform enhanced by AI Digital Human Solutions in partnership with V Gallant Sdn Bhd, scheduled for completion by December 31, 2025 [219]. - The company is developing a Smart Campus System at ELMU University, focusing on optimizing electricity usage, expected to be fully deployed within 12 months from the contract's commencement date [216]. Financial Health and Concerns - Management expressed substantial doubt about the company's ability to continue as a going concern due to recurring losses and insufficient funds to meet obligations [257]. - As of September 30, 2024, cash and cash equivalents were approximately $73,000, down from $0.2 million as of June 30, 2024 [253]. - The November 2023 Offering generated approximately $3.5 million in net proceeds after underwriting discounts [254]. - The company recorded a material weakness in internal control over financial reporting due to inadequate U.S. GAAP expertise among the current accounting staff [288]. - The company lacks a functional internal audit department, which is a material weakness in internal control over financial reporting [288]. - The company has not identified any changes in internal control over financial reporting that materially affected its internal control during the quarter ended September 30, 2024 [290]. Other Financial Metrics - The company recorded a provision for estimated credit losses of $243, down from $1,100 as of June 30, 2024 [269]. - For the three months ended September 30, 2024, the company recorded an unrealized holding loss on marketable securities of approximately $128,000, compared to an unrealized holding gain of approximately $60,000 for the same period in 2023 [275]. - Stock-based compensation for the three months ended September 30, 2024 amounted to $70,000, while there was no stock-based compensation incurred for the same period in 2023 [281]. - The estimated retail price per point for the loyalty program is based on actual historical retail prices, and changes in redemption rates affect the contract liability [278]. - The company issued 14,000,000 Pre-Funded Warrants in connection with the November 2023 Offering, with $1,398,600 allocated to the Pre-Funded Warrants recorded as additional paid-in capital [285]. - Deferred tax assets are recognized only if it is probable that taxable profit will be available against which deductible temporary differences can be utilized [279].

DENVER and PALM BEACH GARDENS, Fla., Oct. 09, 2024 (GLOBE NEWSWIRE) -- TGL presented by SoFi, the new, prime time team golf league backed by Tiger Woods and Rory McIlroy's TMRW Sports, announced ONEflight as its Official Private Aviation Partner. ONEflight will provide luxury private jet travel for TGL's players, ensuring a seamless travel schedule to support their tournament schedules. Today's announcement was made by Ferren Rajput, CEO and Founder, ONEflight International and Jason Langwell, Chief Revenue ...

As filed with the Securities and Exchange Commission on July 26, 2024. Registration No. 333-[*] UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Treasure Global Inc (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) Delaware 7389 36-4965082 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification No.) 276 5th Avenue, Suite ...

Core Insights - Treasure Global Inc is launching the ZCITY Super App, which aims to revolutionize the e-payment experience through advanced AI-powered features and secure messaging solutions [1][10] - The initiative targets the Southeast Asian market, focusing on unbanked populations to enhance financial inclusion and secure communication [2][6] Company Overview - Treasure Global Inc is a leading technology solutions provider in Malaysia, known for developing innovative platforms like the ZCITY App and TAZTE, which streamline e-payment experiences and digital management for merchants [12] - As of May 5, 2024, the ZCITY App has over 2.69 million registered users, indicating a strong user base for the upcoming features [12] Strategic Collaboration - The rollout of the VCIG Secure Cogia Messenger, which integrates secure messaging with a cryptocurrency wallet, is a collaborative effort between Treasure Global, VCI Global, and Cogia AG [10][11] - The phased rollout strategy will begin with a limited group of ZCITY users, allowing for real-time feedback and continuous improvements [7] User Engagement and Growth Targets - The initiative aims to quickly achieve 1 million active users from the initial 3 million ZCITY users, addressing the needs of unbanked populations [6][10] - The integrated cryptocurrency wallet will enable users to send, receive, and store digital assets, enhancing both communication and financial functionalities [11]

WKW strategically partners with GolfNow LLC ("GolfNow"), a leading golf technology company and a subsidiary of NBC, a leading global media corporation and telecommunications company in the US. GolfNow has launched a dedicated stat tracking, social, and competitive golf app branded as "GolfNow Compete". WKW will provide a white-label site service embedded within the GolfNow Compete App, along with the development of additional functionality. The services will include GolfNow Sponsored Leagues, which WKW may ...

Core Insights - Treasure Global Inc has appointed Mr. Henry Chai as COO and Ms. Sook Lee Chin as CFO, signaling a strategic move towards growth and innovation [1][2][11] - The new leadership team aims to revitalize the company's vision and strategy, focusing on new business ventures and innovative technology projects [2][5] - Ms. Sook Lee Chin brings over 12 years of experience in finance and risk management, which will be essential for exploring new investment opportunities [3] - Mr. Henry Chai has extensive experience in technology operations and product development, which will enhance the company's operational excellence [11] Company Overview - Treasure Global is a Malaysian technology solutions provider, known for developing innovative platforms like the ZCITY App and TAZTE [4] - The ZCITY App has over 2,699,216 registered users as of May 5, 2024, and aims to simplify the e-payment experience while offering rewards [4] - TAZTE serves as a digital management system for food and beverage merchants, providing a comprehensive solution for business digitalization [4] Strategic Vision - The company is focused on integrating cutting-edge technologies, particularly through the AI-driven ZCITY Super App, to enhance the digital ecosystem [5] - The leadership team is committed to fostering a culture of continuous innovation and optimizing processes to capitalize on new growth opportunities [5][6] - The strategic initiatives under the new leadership are expected to reinforce the company's commitment to innovation and excellence [6] Employment Agreements - The newly appointed COO and CFO will each receive $80,000 worth of shares in the company, with monthly issuances during their first year [12]

Leveraging its partnership with Cogia, the Company aims to integrate secured messaging and a digital asset wallet into its e-commerce platform, the ZCITY Super App. These features enhance user engagement and deliver a seamless, secure, and highly efficient user experience. Cogia is a Germany-based software company that offers AI-based, fully privacy-compliant solutions in the areas of secure communications, cybersecurity, Big Data Analytics, and web monitoring. This synergy is crucial as the global e-commer ...

Mr. Thow's business acumen extends beyond legal matters. He has a proven ability to identify opportunities for operational efficiency, streamline processes, and implement strategic initiatives to drive business performance. His expertise in mergers and acquisitions, capital markets, and corporate finance has been instrumental in shaping successful business strategies for various organizations. Now, as he takes on the role of Chief Executive Officer at Treasure Global, Mr. Thow's extensive business backgroun ...

Core Viewpoint - Treasure Global Inc is entering a strategic collaboration with a leading telecommunications company to launch an AI-powered crypto mining service integrated with its subsidiary ZCITY's Mobile Virtual Network Operator (MVNO) offerings, creating a new revenue stream for the company [1][2]. Company Overview - Treasure Global is a Malaysian technology solutions provider that has developed innovative platforms, including the ZCITY App and TAZTE, aimed at enhancing digital payment experiences and providing management solutions for merchants [8]. Strategic Collaboration - The partnership will leverage ZCITY's advanced technology to integrate AI-driven crypto mining capabilities into MVNO services, allowing users to mine digital assets while using mobile services, thus merging telecommunications with blockchain technology [2][3]. - This collaboration is expected to create a unique white-label solution branded under ZCITY, enhancing market presence and competitive advantage [2]. Revenue Potential - Treasure Global currently has a user base of 2.69 million and aims to grow its active users from 20,000 to 100,000 within the next 12 months, projecting a fivefold increase in monthly revenue to reach US$2 million and an annual growth of US$25 million [6]. - The strategic plan approved by the Board of Directors focuses on expanding into a more advanced and profitable business model, capitalizing on the existing user base [6]. Industry Insights - The global mobile virtual network operator market is projected to grow at a compound annual growth rate of 7.8%, increasing from US$79.8 billion in 2023 to US$135 billion by 2030, driven by demand for affordable mobile services and market saturation [7].