Elong Power Holding Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K report covers the month ended June 2026 for Elong Power Holding Ltd., a foreign private issuer. The filing details specific corporate actions regarding debt settlement and equity issuance involving a related party, Ms. Xiaodan Liu, the Company's CEO and Chairwoman.
Key Financial Metrics and Transactions
The filing does not provide comprehensive financial statements, revenue, profit, or cash flow data for the period. It focuses on the following specific transactions:
- Related Party Loan: In 2025, the Company borrowed $1,380,396 from Ms. Liu at 8% annual interest. As of June 23, 2026, the outstanding balance was $33,000.
- Debt Settlement: On June 23, 2026, the Company settled the $33,000 payable by issuing 33,881 Class B ordinary shares to Gracedan Co., Limited (controlled by Ms. Liu). The shares were valued at $0.974 per share.
- Securities Purchase: On June 23, 2026, the Company entered a Securities Purchase Agreement to sell 66,119 Class B ordinary shares to Gracedan Co., Limited at $0.974 per share, raising approximately $64,400.
- Total Issuance: On June 24, 2026, the Company issued a total of 100,000 Class B ordinary shares to Gracedan Co., Limited.
Material Changes
The primary material change is the reduction of related-party debt by $33,000 through an equity swap and the concurrent capital raise of approximately $64,400 via a private placement. These transactions were executed under Section 4(a)(2) of the Securities Act of 1933 and Regulation S exemptions.
Outlook, Risks, and Management Commentary
The filing contains no forward-looking guidance, revenue outlook, or general management commentary regarding future operations. The primary risk disclosed is the concentration of ownership and related-party transactions involving the CEO and her controlled entity, Gracedan Co., Limited.
Investor Verification Checklist
- Verify the exact number of Class B shares issued (33,881 for debt settlement and 66,119 for purchase) and their impact on total share count and dilution.
- Confirm the valuation of $0.974 per share matches the closing price of Class A ordinary shares on June 22, 2026.
- Review the full text of the Debt Settlement Agreement (Exhibit 10.1) and Securities Purchase Agreement (Exhibit 10.2) for additional covenants or conditions.
- Assess the remaining balance of the original $1,380,396 loan from Ms. Liu, as only $33,000 was settled in this transaction.