AGM GROUP HOLDINGS, INC. current report, Q4 FY2020

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Business Context and Reporting Period

This Form 6-K filing by AGM Group Holdings, Inc. covers the month of December 2020. The report details the completion of a significant corporate transaction: the disposition of 100% of the equity interest in Anyi Network Inc. and its subsidiaries.

Key Financial Metrics

The filing does not provide specific revenue, profit, cash flow, or margin figures for the reporting period. Instead, it focuses on the financial terms of the asset sale:

  • Total Consideration: $8,000,000.
  • Payment Structure:
    • Cancellation of 475,000 ordinary shares held by the Buyers, valued at $16.00 per share ($7,600,000).
    • Cash Consideration of $400,000.
  • Debt/Liquidity Impact: The $400,000 cash portion is owed via an unsecured, non-interest-bearing promissory note due on or before June 30, 2021.

Material Changes

The primary material change is the divestiture of Anyi Network Inc., completed on December 14, 2020. Key details include:

  • Transaction Date: December 14, 2020.
  • Buyers: Haiyan Huang, Feng Zhi, and Yinglu Gao (former shareholders of Anyi Network Inc., with no affiliation to the Company).
  • Share Capital: 475,000 AGM shares were cancelled on December 14, 2020.
  • Corporate Structure: The Company's corporate structure has been updated to reflect the removal of Anyi Network Inc. and its subsidiaries.

Guidance, Outlook, and Risks

The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors beyond the transaction details. However, it notes the following contingencies:

  • Payment Contingency: The $400,000 cash consideration is not secured and relies on the Buyers' ability to pay by the June 30, 2021 deadline.
  • Financial Data Reference: Unaudited pro forma consolidated financial information and carve-out data for the disposed entities are incorporated by reference in Exhibits 99.1 and 99.2, rather than presented directly in the text.

Investor Verification Checklist

  • Verify the status of the $400,000 promissory note payment by the June 30, 2021 deadline.
  • Review Exhibit 99.1 for unaudited pro forma consolidated financial information to understand the post-transaction financial position.
  • Review Exhibit 99.2 for the carve-out financial information of Anyi Network Inc. to assess the impact of the divestiture on historical performance.
  • Confirm the updated share count following the cancellation of 475,000 shares.