YYAI Connexa Sports Technologies Inc

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

February 24, 2025

Date of Report (Date of earliest event reported)

 

CONNEXA SPORTS TECHNOLOGIES INC.

(Exact name of registrant as specified in its charter)

 

Delaware		1-41423		61-1789640
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

74 E. Glenwood Ave., #320

Smyrna, DE

19977

(Address of principal executive offices, including Zip Code)

 

(443) 407-7564

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.001 par value		CNXA		Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 8.01 Other Events

 

On February 24, 2025, Connexa Sports Technologies Inc. (the “Company”) issued a press release to announce the entry into an agency services agreement to create and sell content to TikTok.

 

The information contained in this Item 8.01 and Exhibit 99.1, attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended and shall not be deemed incorporated by reference in any filing with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended or the Securities Act of 1933, as amended whether made before or after the date hereof and irrespective of any general incorporation language in any filings.

 

Item 9.01 Financial Statements and Exhibits.

 

The following exhibits are furnished with this Form 8-K:

 

Exhibit No.		Description
99.1		Press Release dated February 24, 2025 entitled “Connexa Sports Technologies Inc. Signs Content Creation Agreement with TikTok for the Middle East and North Africa”
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

Portions of this report may constitute “forward-looking statements” as defined by federal law. Although the Company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Additional information about issues that could lead to material changes in the Company’s performance is contained in the Company’s filings with the SEC.

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	Connexa Sports Technologies Inc.
Dated: February 24, 2025	By:	/s/ Thomas Tarala
		Thomas Tarala
		Chief Executive Officer

 

 

 

Exhibit 99.1

 

 

Connexa Sports Technologies Inc.

Signs Content Creation Agreement with TikTok

for the Middle East and North Africa

 

Smyrna, DE, February 24, 2025 – As foreshadowed in a January 2025 press release, Connexa Sports Technologies Inc. (Nasdaq: YYAI) is pleased to announce that its majority-owned subsidiary, Yuanyu Enterprise Management Limited (YYEM), has signed an MCN (Multi-Channel Network) agency services agreement to create and sell content to TikTok as part of its exciting new vertical centered on social networking applications.

 

Under this agreement, YYEM will procure the production of content to be live-streamed or served as videos to TikTok’s multitude of users in the Middle East and North Africa (MENA). This is expected to include engaging broadcasts across various categories, such as sports, gaming, and lifestyle topics, produced by popular Twitch hosts and other influencers within the network that YYEM is developing. We anticipate that YYEM’s new vertical will also include live-streaming, voice chat rooms, gaming, and influencer-driven user-generated content (UGC). The fees generated by the arrangement with TikTok will depend on the rate of conversion by TikTok end-users.

 

With TikTok facing uncertainty in North America, YYEM is aiming to capitalize on the platform’s massive reach in the MENA region. As of July 2024, countries like the United Arab Emirates and Saudi Arabia reported TikTok penetration rates exceeding 120% of the adult population, making this a prime market for YYAI and YYEM to target with our new venture.

 

Hongyu Zhou, Chairman of YYAI, commented, “This deal has the potential to create new revenue streams for YYAI, as well as marketing and other opportunities related to YYEM’s engagement with TikTok’s large and growing base of users and fans. Given the challenges TikTok is facing in the United States, we believe that partnering with TikTok in the MENA region presents a unique opportunity. We expect to grow our social networking, influencer, and content creation business over the coming year and anticipate that our new social networking vertical will open further opportunities for YYAI.”

 

This TikTok collaboration furthers Connexa’s mission to leverage technology and partnerships to unlock new opportunities in the digital landscape. By combining a portfolio of innovative technologies with an extensive influencer network, Connexa and YYEM aim to redefine content creation in one of TikTok’s most engaged markets.

 

About YYAI:

 

Connexa Sports Technologies Inc. (YYAI), via its majority-owned subsidiary, Yuanyu Enterprise Management Co., Limited (YYEM), operates across the rapidly emerging Love and Marriage sector. YYEM owns numerous patents, technologies and algorithms that drive its big data and matchmaking analyses, deriving its current revenues from royalties.

 

YYAI Contact Information:

 

info@yuanyuenterprise.com
www.yuanyuenterprise.com

 

 

Forward-Looking Statements

 

This press release contains forward-looking statements. Statements that are not historical facts, including statements about beliefs or expectations, are forward-looking statements. These statements are based on plans, estimates, expectations and projections at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,” “opportunity,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Factors that could cause actual results to differ materially from those described in this press release include, among others:

 

	●	the risks associated with the Company’s relatively low public float, which may result in the Company’s common stock experiencing significant price volatility;
	●	the risks associated with YYEM not being able to procure content production;
	●	the risks associated with YYEM being able to procure production of content across some but not all of the categories of sports, gaming, and lifestyle topics;
	●	uncertainties regarding the rate of conversion by TikTok end-users;
	●	uncertainties regarding the growth of the Company’s social networking, influencer, and content creation business
	●	uncertainties regarding general economic, business, competitive, legal, regulatory, tax and geopolitical conditions; and
	●	other factors, including those set forth in the Company’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended April 30, 2024 and subsequent Quarterly Reports on Form 10-Q.

 

Forward-looking statements included in this report speak only as of the date each statement is made. Neither the Company nor any person undertakes any obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law.

 

 

v3.25.0.1

Cover	Feb. 24, 2025
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Feb. 24, 2025
Entity File Number	1-41423
Entity Registrant Name	CONNEXA SPORTS TECHNOLOGIES INC.
Entity Central Index Key	0001674440
Entity Tax Identification Number	61-1789640
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	74 E. Glenwood Ave.
Entity Address, Address Line Two	#320
Entity Address, City or Town	Smyrna
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19977
City Area Code	(443)
Local Phone Number	407-7564
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	CNXA
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

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