BEIJING, June 8, 2023
/PRNewswire/ -- WeTrade Group Inc. ("WeTrade" or the
"Company") (NASDAQ: WETG), a global diversified "software as a
service" ("SaaS") technology service provider committed to
providing technical support and digital transformation tools for
enterprises across different industries, today announced that upon
the market opening on June 9, 2023, the Company's Common
Stock will begin trading on the Nasdaq Capital Market ("Nasdaq") on
a one-for-one hundred and eighty-five (1-for-185) post-split (the
"Reverse Stock Split") basis under the current symbol "WETG".
The Reverse Stock Split is intended to more expediently enable
to Company to regain compliance to achieve a minimum bid price of
$1.00 per share for continued listing
on Nasdaq, as set forth in Nasdaq Listing Rule 5550(a)(2) (the
"Minimum Bid Requirement").
As a result of the Reverse Stock Split, every one-for-one
hundred and eighty-five (185) shares of the Company's Common
Stock then issued and outstanding will automatically, and without
any action of the Company or any holder thereof, be combined,
converted, and changed into one (1) validly issued and
non-assessable share of Common Stock. No fractional shares will be
issued to any shareholder, and in lieu of issuing any such
fractional shares, the fractional shares resulting from the Reverse
Stock Split will be rounded up to the nearest whole share of Common
Stock.
Except for de minimus adjustments that resulted from the
treatment of fractional shares, the Reverse Stock Split did will
not have any dilutive effect on our shareholders, since each
shareholder holds the same percentage of our Common Stock
outstanding immediately following the Reverse Stock Split as such
shareholder held immediately prior to the Reverse Stock Split.
About WeTrade Group Inc.
WeTrade Group Inc. is a global diversified "software as a
service" ("SaaS") technology service provider which is
committed to providing technical support and digital transformation
tools for enterprises across different industries. The four
business segments of WeTrade Group are YCloud, WTPay,Y-Health and
YG.
YCloud is a micro-business cloud intelligent system launched by
WeTrade, serving global micro-business industry. YCloud strengthens
users' marketing relationship and CPS commission profit management
through leading technology and big data analysis. It also helps
increase the payment scenarios to increase customers' revenue by
multi-channel data statistics, AI fission and management as well as
improved supply chain system.
Independently developed by the Company, WTPay supports multiple
methods of online payment and eight mainstream digital wallets in
over 100 countries to help customers quickly realize global
collection and payment business.
Y-Health is the sector focusing on public health business, which
engages in developing global business for biological health and
medical enterprises. Currently, Y-Health mainly focuses on
detection and prevention of epidemic, daily healthcare, traditional
Chinese medicines, and others.
YG is the new energy business segment which mainly provides
tools and technical support for the digital new energy industry in
the Middle East and Central Asia.
For more information, please
visit https://ir.wetg.group.
Forward-Looking Statements
This press release contains information about the Company's
view of its future expectations, plans and prospects that
constitute forward-looking statements. Actual results may
differ materially from historical results or those indicated by
these forward-looking statements as a result of a variety of
factors including, but not limited to, risks and uncertainties
associated with its ability to raise additional funding, its
ability to maintain and grow its business, variability of operating
results, its ability to maintain and enhance its brand, its
development and introduction of new products and services, the
successful integration of acquired companies, technologies and
assets into its portfolio of products and services, marketing and
other business development initiatives, competition in the
industry, general government regulation, economic conditions,
dependence on key personnel, the ability to attract, hire and
retain personnel who possess the technical skills and experience
necessary to meet the requirements of its clients, and its ability
to protect its intellectual property. The Company's encourages
you to review other factors that may affect its future results in
the Company's annual reports and in its other filings with the
Securities and Exchange Commission.
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SOURCE WeTrade Group INC