Spend tens of millions of dollars, buy sell subsidiary currency speculation, the betting the Hong Kong stock company is a virtual currency trading halt

Editor’s note, this article from the daily economic news, author: Liu Yongsheng, editor: Yao Xiangyun, the daily planet Odaily authorized reprint.

 Spend tens of millions of dollars, buy sell subsidiary currency speculation, the betting the Hong Kong stock company is a virtual currency trading halt

3 24, the Hong Kong Stock Exchange GEM listed company universal card (08192, HK) announced that the company received the exchange date for the 3 2019 22 on April letter exchange that, after considering the company blockchain technology related business is recently (2018 4) was established. It is a new business and has nothing to do with the existing business and current operation of small scale 5 situation, it is necessary to GEM the listing rule 9.04 (3) a moratorium on the sale of shares of the company.

The “daily economic news” reporter access to global credit announcement found that since 2018 years, with tens of millions of dollars, assets such as real money, virtual money to buy unknown, the block chain as their global strategy, name card, more or more to buy, buy more or more, repeatedly deferred repayment of loans so, all of the operations in the world through magic cards staged.

But betting on encryption currency, apparently did not bring it to the global pass card to look forward to the spring. Only in the first half of 2018, universal card and a loss of 5071.1 million, almost catch up with the 2017 year.

According to the stock exchange announcement, after a year, if it fails to meet the GEM Stock Exchange listing rule 17.26, the stock exchange will cancel the global credit market.

Block chain technology related business development has not been confirmed

In March 24th global passes this announcement, a moratorium on global decision through the card company buying and selling shares, the stock exchange gives five reasons:

1, the company in the past few years has been to carry out a number of services, including electronic products trading business and other miscellaneous services (including lending business, securities brokerage business and related air-conditioning leasing business). The respective business operations of small size and no real activity;

2, the company does not prove that electronic products trading business and other existing business (including lending business, securities brokerage business and related air-conditioning leasing business) is feasible and sustainable and can greatly improve the operation to generate sufficient revenue and profit;

3, the company’s business is to block chain technology recently (2018 April) was established. It is a new business and has nothing to do with the existing business and the current operating smaller;

No 4, prediction of the company has signed an agreement or a substantial business support plan. Before the prediction block chain technology related business income increased significantly as the number of users and provided transactions increase, which has not been confirmed;

5, most of the company’s assets by cash or cash equivalents.

The reporters found that in the above reasons, the third point and fourth point with universal license for nearly a year to vigorously promote the block chain and virtual currency related business.

With experience at the beginning of the chain block

Public information, universal license, formerly known as global energy resources, 2002 landing HKEx gem, mainly engaged in leasing trade, business operation, energy-saving air-conditioning emissions trading platform and related services, lending, securities trading and technology related business chain block.

Early 2018, virtual currency, a fiery, appeared at three community. In fact, it is from 2018 January onwards, universal license to start a sustained close encryption currency market. And in the form of announcement to show encryption and money market linkages from a little business.

In January 26, 2018, the global energy resources (formerly known as the universal license) making voluntary announcement that the company indirectly wholly-owned Affiliated Companies Crebit Management Limited unified property credit and a purchase agreement to buy Crebit tokens of some virtual tokens, the unified credit property can join the Crebit global P2P credit business platform (blockchain technology based on peer-to-peer computer system to match the potential the borrower and the lender) and its business development potential.

On the price of the transaction, the unified property of credit given to Limited 18 Crebit Management (currency according to the exchange rate of about 1 Ethernet Ethernet currency equivalent to approximately HK $8300, equivalent to approximately HK $150 thousand). In return, Crebit Management Limited will give the global energy resources 117 thousand CBT. CBT Crebit Management Limited issued tokens.

Begun to taste the sweetness, global energy at top speed. 3 2018 14, global energy resources announced that has purchased a total of 3235.37 Ethernet currency in the open market, the total cost of about 1939.7 million. And said: “the current management intends to purchase the etheric currency held by the group as an investment.”

On the purchase of currency Ethernet data, global energy resources noted that in January 1, 2016 and December 31, 2016, the ether currency prices were approximately HK $7.5 and HK $62, and in January 1, 2017, December 31, 2017 and March 14, 2018 respectively, the price of approximately HK $62, HK $5900 and HK $5500. Ethernet currency 2016 years and 2017 years respectively, the price rose by about 8.3 and 95 times.

For this reason to invest in energy resources around the world especially said: “the group is mainly engaged in leasing trade, business operation, energy-saving air-conditioning emissions trading platform and related services, lending and securities trading business. The company is seeking for the opportunity to increase returns to the group and the shareholders to maximize the long-term. Considering the block chain technology and encryption currency with the recent performance of optimism and encryption of money market, the Board believes that the acquisition of the etheric coins is an attractive investment, can improve the company’s return on cash.”

Thus, although as of March last year, the global energy resources has not block chain related business, but the money has to encrypt a soft spot, and began to cast down heavily.

In September 21, 2018, the global energy resources announced that the company indirectly wholly-owned Affiliated Companies Zhongjie for a total consideration of approximately HK $11 million 131 thousand acquisition of 22 million 270 thousand and 500 XPA; at the same time, the total cost of approximately HK $8 million 69 thousand acquisition of 1749.88 Ethernet coins. And announced: “the current management intends to use XPA and Ethernet currency held by the group as an investment.”

The transfer of 50 million of assets for virtual currency

Non small market, from the beginning of 2018 to September 21, 2018, bitcoin price from $14220 to around $6600, almost cut, many unknown small currency is a direct return to zero. It doesn’t seem to stop the global energy resources of enthusiasm, crypto currencies continue to opening, and even buy investment of millions of small coins unknown. In the announcement, said the global energy resources, block chain technology extension to the broader field of wide use, weak encryption currency market does not affect the core value chain block technology.

The evening of October 15, 2018, the global energy resources announced that sell a continued loss of subsidiary company, the subsidiary of the Affiliated Companies mainly engaged in carbon emissions trading platform. The sale, the transaction price is about HK $50 million, and by the buyer to transfer 91 million 240 thousand XPA group to pay. The XPA market value of approximately HK $54 million 500 thousand.

Even if the loss, but the carbon emissions of HK $50 million worth of assets trading platform is the company. The virtual currency, to change a little-known with real money assets have to say, energy resources around the world is true love for XPA.

The “daily economic news” reporter noted that the global energy resources exchange XPA, is a digital asset company previously purchased in September. That is to say, less than a month, the global energy resources has invested HK $60 million to buy 114 million XPA.

As another Hong Kong listed companies “blockchain group”, October 23, 2018, the global energy resources released announcement that the company changed its name, English name from “Global Energy Resources International Group Limited” to “Global Token Limited”, Chinese name from “global energy resources International Group Limited” to “universal card limited”. The company maintains the shares on the stock exchange code remains unchanged, (HK:8192).

Repeatedly postponed payment

A party is spent tens of millions on encryption currency, one side is constantly deferred loan, universal card apparently didn’t expect it to the virtual currency in the spring. In March 15, 2019, global card announcement said, according to the original loan agreement, the lender (the company indirectly wholly-owned Affiliated Companies (debit) to provide an independent third party) at the annual rate of 15 per cent per annum in the amount of HK $10 million in loans, was again postponed for 6 months.

According to the announcement, the loan according to the original loan agreement expires in September 8, 2018; according to the first extension of the agreement, to extend the maturity date of December 8, 2018; according to the second extension of the agreement, to extend the maturity date of March 8, 2019; extend the maturity, companies are still unable to pay it again for another 6 months, according to a new third times the extension of the agreement, to extend the maturity date of September 8, 2019.

Public information, universal card HK $75 million 54 thousand loss in 2016 2017, the annual loss of HK $51 million 192 thousand. Block chain business transformation, annual data show that only the first half of 2018, global credit losses amounted to HK $50 million 711 thousand. The reason about the loss, universal card said, mainly due to the first half of crypto currency changes in the fair value of the net loss of approximately HK $8 million 59 thousand, and invest in the block chain technology related business led to the company’s administrative expenses increased significantly.

The “daily economic news” reporter query encryption currency data platform MyToken third party found that in January 10, 2019, the company bet heavily XPA currency prices have stopped updating, seems to have zero. Another kind of encryption currency large holdings of the company’s etheric coins, nearly 1 years the price has plummeted 74%.

Obviously, by betting on virtual currency, block chain can save the global certificate. Public data show that since January 2018, global license price from HK $0.377 to HK $0.063 near the current, plunged nearly 83%, the total market value of HK $65 million 291 thousand and 900 to the company.

Out of the stock market is not the most serious, according to the stock exchange to universal card correspondence, universal license shall re comply with the GEM rule 17.26 of the listing rules, and 12 months of recovery period. If the global certificate has not following the expiration of 12 months (March 21, 2020) when they meet the above requirements, the stock exchange will cancel the listing.

Leave a Reply

Your email address will not be published. Required fields are marked *