Business Context and Reporting Period
This Form 6-K filing by Integrated Media Technology Ltd is dated September 8, 2020. The report serves as an update to a previous filing from August 11, 2020, regarding a private placement and a convertible note agreement with Nextglass Technologies Corp.
Key Financial Metrics
- Capital Raised: US$1,350,000 from the placement of 450,000 shares at US$3.00 per share.
- Debt Instrument: A US$1,650,000 Convertible Note with Nextglass Technologies Corp.
- Revenue, Profit, and Cash Flow: The filing text does not provide a clear value for revenue, profit, operating cash flow, margins, or total liquidity.
Material Changes
The primary material change is the successful closing of the share placement to Nextglass Technologies Corp., raising US$1,350,000. Additionally, the closing date for the US$1,650,000 Convertible Note has been extended to September 30, 2020.
Outlook and Management Commentary
Management confirmed the execution of the financing terms previously outlined in the August 11, 2020 filing. The filing does not contain specific forward-looking guidance, risk factors, or discussion of unusual items beyond the financing activities.
Investor Verification Checklist
- Verify the final closing date of the US$1,650,000 Convertible Note (extended to September 30, 2020).
- Confirm the share count and price per share (450,000 shares at US$3.00) for the placement to Nextglass Technologies Corp.
- Review the August 11, 2020 Form 6-K for the full terms of the Convertible Note.