Core Viewpoint - NewGenIVF Group Limited is advancing its tokenization strategy by appointing Joshua Chu as Senior Counsel and engaging Evident Capital to support the launch of its inaugural tokenized bond issuance of up to USD 30 million, aimed for completion by Q1 2026 [1][2][5] Group 1: Tokenized Bond Issuance - The first tranche of tokenized bonds will have subscriptions of up to USD 30 million, with a tentative closing scheduled for Q1 2026, depending on market conditions and regulatory requirements [2] - The issuance aims to create a repeatable, institution-grade framework for future tokenized financings by the Group [2] - The Company is preparing to tokenize bond issuances linked to its UAE real estate project, enhancing capital efficiency and diversifying its funding base [3] Group 2: Strategic Leadership and Partnerships - Daniel Siu, Director of Business Development, has been pivotal in shaping the Group's strategic real-asset opportunities and tokenized financing initiatives [4] - Joshua Chu is recognized as a leading lawyer in Web3 law, with a track record in digital service and tokenized legal instruments, which is expected to aid in designing compliant tokenized bond structures [6] - Evident Capital provides an institutional-grade tokenization platform, offering end-to-end support for issuers, including legal coordination and compliant distribution [7] Group 3: Financial Transformation and Growth Strategy - The tokenized bond program is projected to increase total assets and capital commitments by approximately USD 28 million in Q1, positioning the Group for accelerated growth through 2026 [5] - The strategy aims to connect real-world assets with next-generation capital markets through tokenization, while minimizing dilution for existing shareholders [8][9] - The UAE real estate project is a cornerstone of the diversification strategy, showcasing the potential of tokenized financing for high-quality, differentiated assets [8][9]

Core Insights - BlockBolt has launched a new contactless crypto payments platform on the Hedera Network, aimed at enhancing real-world Web3 adoption [1][2] - The platform includes a merchant-ready web checkout experience and an IoT device called BlockBolt SoundBox, designed to facilitate fast and reliable crypto payments [1][3] Group 1: Platform Features - BlockBolt allows businesses to accept various Hedera-based tokens, including $HBAR and $USDC, through multiple payment methods for both online and physical commerce [3] - Every transaction is verified on-chain, ensuring a secure and tamper-proof record, with confirmations occurring in seconds due to Hedera's performance and cost efficiency [3][7] - The platform offers features such as payment links for invoices, wallet-based checkout for online payments, and QR Scan & Pay for in-store transactions [6] Group 2: BlockBolt SoundBox - The BlockBolt SoundBox is an IoT device designed for retail environments, providing real-time audio confirmation of payments to enhance trust and operational efficiency [4][5] - SoundBox addresses the challenge of instant verification at the counter, announcing the received payment amount audibly, which eliminates the need for staff to check wallets or dashboards [5] - This device aims to reduce friction in crypto payments, making them more accessible and reliable in busy real-world settings [5] Group 3: Availability and Support - The BlockBolt platform and SoundBox integration are available for merchants operating on various networks, including Hedera, Sui Network, Solana, EVM Chains, and ICP Network [6] - The launch is supported by a grant from the Hedera Foundation, highlighting the commitment to integrating blockchain payments into everyday business operations [2]

Core Viewpoint - Tianji Holdings (01520) has entered into a subscription agreement with investors to issue up to 8 million subscription shares at a price of HKD 0.92 per share or 90% of the closing price on January 19, 2026, whichever is lower, along with warrants for up to 31 million shares at an exercise price of HKD 1.97 per share [1][2] Group 1: Subscription Shares - The total consideration for the subscription shares is capped at HKD 7.36 million, to be fully paid by the investor upon completion of the first subscription [1] - The 8 million subscription shares represent approximately 0.84% of the existing issued share capital as of the announcement date [1] - The subscription price of HKD 0.85 per share reflects an approximate discount of 8.60% compared to the closing price of HKD 0.93 on the date of the agreement [1] Group 2: Use of Proceeds from Subscription Shares - The net proceeds of HKD 6.8 million from the subscription shares will be allocated as follows: - Approximately HKD 4 million for the Saudi industrial IP business, which includes establishing a headquarters and team in Saudi Arabia [2] - Approximately HKD 2.8 million for general working capital [2] Group 3: Warrants - The warrants will be issued at zero cost to the investors, with an estimated fair value of approximately HKD 0.143 per warrant, totaling HKD 4.43 million for 31 million warrants [2] - The exercise price of HKD 1.97 per share represents a premium of approximately 111.83% over the closing price of HKD 0.93 on the date of the agreement [2] - The maximum 31 million warrant shares account for approximately 3.26% of the total existing issued shares as of the announcement date [2] Group 4: Placement Agreement - On January 20, 2026, the company entered into a placement agreement to issue up to 60 million new shares at a placement price of HKD 0.85 per share, which is an approximate discount of 8.60% to the closing price of HKD 0.93 [4] - The maximum gross proceeds from the placement are estimated at HKD 51 million, with a net amount of approximately HKD 49.3 million after deducting related expenses [4] Group 5: Use of Proceeds from Placement - The net proceeds from the placement will be allocated as follows: - Approximately HKD 5 million for initial development and AI capability building for a platform [5] - Approximately HKD 15 million for investment in Manchester United sports IP business [5] - Approximately HKD 4 million for the Saudi industrial IP business [5] - Approximately HKD 3 million for marketing and user ecosystem development [5] - The remaining HKD 22.3 million for general working capital [5]

Core Viewpoint - Tianji Holdings (01520) has entered into a subscription agreement with investors to issue up to 8 million subscription shares at a price of HKD 0.92 per share or 90% of the closing price on January 19, 2026, whichever is lower, along with warrants for up to 31 million shares at an exercise price of HKD 1.97 per share [1] Group 1: Subscription Agreement Details - The total consideration for the subscription shares is capped at HKD 7.36 million, which will be fully paid by the investors upon completion of the first subscription [1] - The subscription shares represent approximately 0.84% of the existing issued share capital as of the announcement date and about 0.83% after the issuance [1] - The subscription price of HKD 0.85 per share reflects an approximate discount of 8.60% compared to the closing price of HKD 0.93 on the date of the agreement [1] Group 2: Use of Proceeds from Subscription Shares - The net proceeds of HKD 6.8 million from the subscription shares will be allocated as follows: - Approximately HKD 4 million for the Saudi industrial IP business, which includes establishing a headquarters and team in Saudi Arabia [2] - Approximately HKD 2.8 million for general working capital [2] Group 3: Warrant Details - The warrants will be issued at zero cost to investors, with an estimated fair value of approximately HKD 0.143 per warrant, totaling HKD 4.43 million for 31 million warrants [2] - The exercise price of HKD 1.97 per warrant represents a premium of approximately 111.83% over the closing price of HKD 0.93 on the date of the agreement [2] - The maximum 31 million warrant shares represent about 3.26% of the existing issued share capital and approximately 3.15% after the exercise of the warrants [2] Group 4: Placement Agreement - On January 20, 2026, the company entered into a placement agreement to issue up to 60 million new shares at a placement price of HKD 0.85 per share, which is an 8.60% discount to the closing price of HKD 0.93 [4] - The maximum gross proceeds from the placement are estimated at HKD 51 million, with a net amount of approximately HKD 49.3 million after deducting related expenses [4] Group 5: Use of Proceeds from Placement - The net proceeds from the placement will be allocated as follows: - Approximately HKD 5 million for initial platform development and AI capabilities [5] - Approximately HKD 15 million for investment in Manchester United sports IP business [5] - Approximately HKD 4 million for the Saudi industrial IP business [5] - Approximately HKD 3 million for marketing and user ecosystem development [5] - The remaining HKD 22.3 million for general working capital [5]

Core Viewpoint - Tianji Holdings (01520) has signed an investment cooperation agreement with Mr. Sami Abdullah AlShammary to establish a joint venture in Saudi Arabia, focusing on industrial IP, smart manufacturing, and Robot-As-A-Service [1] Group 1: Investment Agreement - The joint venture will operate under the framework of the Saudi Arabian Ministry of Industry, primarily in smart manufacturing and super complexes [1] - The registered capital of the joint venture is set at $1 million, with Tianji Holdings contributing $900,000 (90% equity) and Mr. Sami contributing $100,000 (10% equity) [1] Group 2: Business Expansion - The company aims to expand its existing business, leveraging its expertise in AI and Web3 technologies to create a smart new consumption ecosystem across sports, culture, tourism, and entertainment sectors [1] - The board believes that establishing the joint venture will enhance the company's operations in the industrial IP sector and provide returns to shareholders [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不因本公告全部 或部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Virtual Mind Holding Company Limited （於開曼群島註冊成立之有限公司） （股份代號：1520） 自願公告 投資合作協議 本 公 告 由 天 機 控 股 有 限 公 司 （ 「 本公司 」 ， 連 同 其 附 屬 公 司 ， 統 稱 「 本 集 團」）董事（「董事」）會（「董事會」）自願刊發。 董 事 會 欣 然 宣 佈 ， 於 二 零 二 六 年 一 月 二 十 日 ， 本 公 司 與 Sami Abdullah AlShammary 先生（「Sami 先生」）簽訂了投資合作協議（「投資協議」）。 根據投資協議，本公司擬與 Sami 先生於沙特阿拉伯王國設立一間有限責任公司 （「合資企業」），以拓展在沙特阿拉伯王國工業 IP 領域的業務，主要在沙特 工業部相關框架下運作，包括智慧製造與超級綜合體（Smart Manufacturing and Super Complex ， ...

Core Insights - The Schwab report categorizes the crypto market into three sectors, highlighting that most value is concentrated in foundational blockchains like Bitcoin and Ethereum [1][2] Group 1: Market Structure - The crypto market is divided into three layers: foundational networks (Bitcoin and Ethereum), infrastructure (software connecting blockchains), and products (exchanges and lending platforms) [2][3][4] - Foundational networks account for nearly 80% of the total crypto market cap, which is $3.2 trillion as of the end of 2025 [2] - Infrastructure software faces challenges due to low user interaction and ease of switching to competitors, impacting their business models [3] Group 2: Product Dynamics - Products in the crypto space, such as exchanges and lending platforms, have more loyal users and higher switching costs, making them more likely to become industry standards [4] - Examples of successful products include Aave for crypto lending and Lido for staking, although specific investment recommendations are not provided [4] Group 3: Comparative Analysis - The report draws parallels between the crypto market and the traditional software industry, likening foundational networks to cloud computing platforms like AWS and Microsoft Azure [5] - Products are compared to user-interactive software like Salesforce or Netflix, while infrastructure software is seen as less capable of commanding loyalty and pricing power [6] Group 4: Investment Framework - Schwab introduces a framework for evaluating cryptocurrencies based on four criteria: network effects, market share, scalability, and tokenomics [7] - Ethereum is highlighted as a case study, leading the smart contract sector with over 10 times the market share of its closest competitor, but facing concerns over transaction speeds and ownership concentration [8]

Group 1 - Roundtable CEO James Heckman announced that merger partner RYVYL Inc. received formal notice from NASDAQ confirming compliance with Listing Rule 5550(a)(2) [1] - Following a recent reverse split, RYVYL's share price exceeded the necessary threshold to resolve compliance issues, aided by Roundtable's investment meeting shareholder equity requirements [1] - The companies filed a Form S-4 registration statement with the SEC, initiating the review process that requires shareholder approval, expected to conclude in late Q1 [2] Group 2 - The regulatory milestones achieved facilitate the completion of the merger and NASDAQ listing, aimed at transitioning major media brands to Roundtable's Web3-native media operating system [3] - Roundtable operates as a Web3 digital media SaaS platform, offering decentralized publishing, commerce, data syndication, network distribution, ad sales, and community platforms for major media and professional journalist brands [4] - RYVYL stated that the NASDAQ compliance determination did not alter its capital structure or shareholder equity, with all material conditions for the merger met except for SEC approval of the Form S-4 [5]

Market Trends and TAM - The global video game market is projected to reach $284 billion by 2025, with a CAGR of 12%[7] - The U S influencer marketing platform market is projected to reach $5 5 billion by 2025, with a CAGR of 13%[7] - U S digital advertising spending is projected to reach $342 billion by 2025, with a CAGR of 28%[7] - The global gaming market has a TAM of over $230 billion[7] - Influencers drive 60-65% of revenue activity in the gaming market[7] - Marketing spend in the gaming market accounts for 10-15% of revenue, targeting $23-35 billion[7] GameSquare Ecosystem and Acquisition - Click, a global creator network acquisition, is estimated to generate $14 5 million in revenue and $1 2 million in EBITDA on an annualized 2H 2025 basis[16] - Click enhances GameSquare's talent, media, and content ecosystem, unlocking new revenue and growth opportunities[17] Financial Performance and Guidance - GameSquare's 2H 2025 pro forma revenue guidance is $36 8 million and adjusted EBITDA is $2 9 million[41] - Gross margin is expected to double due to the shutdown of Frankly, the acquisition of Click, and ETH yield[42] - Click is expected to contribute $7 million to 2H revenue[42] - Deals in the crypto sector are expected to contribute $3 million to 2H revenue[42] Treasury Strategy - GameSquare is targeting an ETH yield of 8-14%, fully ramped[45] - As of September 30, 2025, GameSquare held 15,618 ETH[45] - $6 25 million of Web3 deals closed as of Sept 30, 2025[45]

Core Viewpoint - The company has entered into subscription agreements for the issuance of shares and warrants, aiming to raise funds for investment and operational purposes while setting specific terms for share pricing and lock-up periods [1][3][4]. Group 1: Share Subscription Agreements - The company has agreed to issue a total of 11.5 million GM subscription shares at a price of HKD 1.14 per share, representing approximately 1.14% of the total issued shares as of the announcement date [1]. - The subscription price of HKD 1.14 per GM share reflects a discount of about 19.72% compared to the last closing price of HKD 1.42 and a discount of approximately 14.80% compared to the average closing price over the preceding five trading days [1]. - The company has also agreed to issue 130 million RL subscription shares at the same price of HKD 1.14 per share, which corresponds to about 12.90% of the total issued shares as of the announcement date [2]. Group 2: Use of Proceeds - The total gross proceeds from the issuance of RL subscription shares are expected to be HKD 148.2 million, with a net amount of approximately HKD 147.2 million intended for asset-oriented investments, project cultivation plans, Web3-related applications, and general operational funding [3]. - The company anticipates that the net proceeds from the issuance of warrants will be approximately HKD 16 million, which will also be allocated for similar investment and operational purposes [4]. Group 3: Lock-Up Period and Trading Resumption - Both GM and RL subscription shares will be subject to a lock-up period until December 21, 2026, following their completion [1][3]. - The company has applied to the stock exchange for the resumption of trading of its shares starting from January 21, 2026 [5].