HONG
KONG, May 8, 2024 /PRNewswire/ -- MMTEC, Inc.
("MMTEC" or the "Company") (Nasdaq: MTC), announced that it will
suspend the acceptance of new investments and pause the Company's
capital raising activities for the next six months. In light of the
Company's current capital position, combined with a comprehensive
assessment of the current market environment and our business
operations, our management team has decided to suspend the
Company's financing plans for the next six months. During this
period, the Company will neither seek nor accept new
investments.
This decision aims to optimize our strategic layout, rationalize
the allocation of resources, and adjust our operational strategy to
improve operational efficiency and ensure the long-term and steady
development of the Company, with a view to better serve our
shareholders and partners. We would like to express our sincere
gratitude to all potential investors for their continuous attention
and trust. We are continuously tracking market dynamics and will
look for an opportune time to restart our capital raising
activities.
About MMTEC, Inc.
Headquartered in Hong Kong Special Administrative Region, our
Company mainly focuses on investment banking and asset management
business, providing customers with one-stop and all-round financial
services.
More information about the Company can be found at:
www.haisc.com.
Forward-Looking Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may", "will", "intend", "should", "believe", "expect",
"anticipate", "project", "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Specifically, the Company's statements
regarding its continued growth, business outlook, and other similar
statements are forward-looking statements. Forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's future
business development; product and service demand and acceptance;
changes in technology; economic conditions; reputation and brand;
the impact of competition and pricing; government regulations;
fluctuations in general economic and business conditions in
China and assumptions underlying
or related to any of the foregoing and other risks contained in
reports filed by the Company with the Securities and Exchange
Commission, including the Company's most recently filed Annual
Report on Form 20-F and its subsequent filings. For these reasons,
among others, investors are cautioned not to place undue reliance
upon any forward-looking statements in this press release.
Additional factors are discussed in the Company's filings with the
U.S. Securities and Exchange Commission, which are available for
review at www.sec.gov. The Company undertakes no obligation to
publicly revise these forward-looking statements to reflect events
or circumstances that arise after the date hereof.
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SOURCE MMTEC, Inc.
