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CCSC Technology International Holdings Limited Reports Financial Results for the First Six Months of Fiscal Year 2024

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HONG KONG, Feb. 23, 2024 /PRNewswire/ — CCSC Technology International Holdings Limited (the “Company” or “CCSC”) (Nasdaq: CCTG), a Hong Kong-based company that engages in the sale, design and manufacturing of interconnect products, including connectors, cables and wire harnesses, today announced its unaudited financial results for the first six months of fiscal year 2024 ended September 30, 2023.

Mr. Kung Lok Chiu, Chief Executive Officer and Director of the Company, commented, “During the first six months of fiscal year 2024, amidst macroeconomic uncertainties and rising supply chain costs, our revenue and gross profit decreased from the same period of last year; however, our gross margin remained stable despite the challenging environment. Furthermore, in January 2024, we completed our initial public offering and listing on the Nasdaq Capital Market under the ticker symbol “CCTG”, which we expect to enhance our competitiveness globally. Looking forward, we plan to strategically focus on growing industries, such as new energy, robotics, and medical. We also plan to keep investing in research and development and offering innovative and cost-effective products to our customers. We are committed to delivering high-quality products to our customers and generating long-term value for our shareholders.”

First Six Months of Fiscal Year 2024 Financial Highlights

Revenue was $7.5 million for the six months ended September 30, 2023, compared to $15.6 million for the same period of last year.Gross profit was $2.3 million for the six months ended September 30, 2023, compared to $5.4 million for the same period of last year.Loss from operations was $0.3 million for the six months ended September 30, 2023, compared  to income from operations of $2.1 million for the same period of last year.Net income was $0.4 million for the six months ended September 30, 2023, compared to $2.8 million for the same period of last year.Basic and diluted earnings per share was $0.04 for the six months ended September 30, 2023, compared to $0.28 for the same period of last year.

First Six Months of Fiscal Year 2024 Financial Results

Revenue

Total revenue was $7.5 million for the six months ended September 30, 2023, which decreased by 52.0% from $15.6 million for the same period of last year.

The following table sets forth revenue by interconnect products:

For the Six Months Ended September 30,

Change

($ millions)

2023

%

2022

%

Amount

%

Cables and wire harnesses

6.9

91.8

%

14.5

93.0

%

(7.6)

(52.6)

%

Connectors

0.6

8.2

%

1.1

7.0

%

(0.5)

(43.5)

%

Total

7.5

100.0

%

15.6

100.0

%

(8.1)

(52.0)

%

Revenue generated from cables and wire harnesses decreased by 52.6%, to $6.9 million for the six months ended September 30, 2023, from $14.5 million for the same period of last year. Revenue generated from connectors decreased by 43.5%, to $0.6 million for the six months ended September 30, 2023, from $1.1 million for the same period of last year.

The decrease in our revenue was primarily attributable to the decrease in sales volume. We experienced a contraction in demand, primarily because a number of our customers had purchased our products in advance in fiscal year 2022 and the first half of fiscal year 2023 in anticipation of higher supply chain costs. Customers also preferred reduced inventory, due to uncertainties about macroeconomic conditions.

The following table sets forth the disaggregation of revenue by regions:

For the Six Months Ended September 30,

Change

($ millions)

2023

%

2022

%

Amount

%

Europe

4.3

57.8

%

9.8

62.8

%

(5.5)

(55.8)

%

Asia

2.4

31.8

%

4.7

29.8

%

(2.3)

(48.7)

%

Americas

0.8

10.4

%

1.2

7.4

%

(0.4)

(32.9)

%

Total

7.5

100.0

%

15.6

100.0

%

(8.1)

(52.0)

%

Revenue generated from Europe decreased by 55.8%, to $4.3 million for the six months ended September 30, 2023, from $9.8 million for the same period of last year. The decrease was primarily due to the decrease of sales in Denmark, Hungary and Finland.

Revenue generated from Asia decreased by 48.7%, to $2.4 million for the six months ended September 30, 2023, from $4.7 million for the same period of last year. The decrease was primarily due to sales decreases in China of $1.5 million, and sales decreases in the Association of Southeast Asian Nations, or ASEAN, of $0.8 million.

Revenue generated from the Americas decreased by 32.9%, to $0.8 million for the six months ended September 30, 2023, from $1.2 million for the same period of last year. The decrease was primarily due to sales decreases in Northern America of $0.4 million.

Cost of Revenue

Cost of revenue decreased by 48.7%, to $5.2 million for the six months ended September 30, 2023, from $10.2 million for the same period of last year, which was in line with the decrease of the total revenue.

Inventory costs amounted to $3.5 million for the six months ended September 30, 2023, compared to $7.9 million for the same period of last year. The decrease of inventory costs was primarily due to a 51.5% decrease in the total sales volume and an 8.5% decrease in the inventory cost per unit.

Labor costs amounted to $1.2 million for the six months ended September 30, 2023, compared to $1.7 million for the same period of last year. The decrease of labor costs was primarily due to the reduction in the number of our manufacturing employees.

Gross Profit and Gross Margin

Gross profit decreased by 58.1%, to $2.3 million for the six months ended September 30, 2023, from $5.4 million for the same period of last year.

Gross profit margin decreased by 4.4%, to 30.4% for the six months ended September 30, 2023, from 34.8% for the same period of last year. The gross profit margin was generally on par with the same period of 2022.

Operating Expenses

Operating expenses decreased by 23.2%, to $2.6 million for the six months ended September 30, 2023, from $3.3 million for the same period of last year. The expense reduction was mainly due to the decreases in the selling expenses, general and administrative expenses, and research and development expenses.

Other Income/(Expenses)

Other income decreased by 37.0%, to $0.6 million for the six months ended September 30, 2023, from $1.0 million for the same period of last year. The decrease included an increase in foreign exchange loss of $0.4 million.

Net Income

Net income decreased by 85.4%, to $0.4 million for the six months ended September 30, 2023, from $2.8 million for the same period of last year.

Basic and Diluted Earnings per Share

Basic and diluted earnings per share was $0.04 for the six months ended September 30, 2023, compared to $0.28 for the same period of last year.

Recent Development

On January 22, 2024, the Company completed its initial public offering (the “Offering”) of 1,375,000 ordinary shares at a public price of $4.00 per share. On February 8, 2024, the underwriters of Offering exercised their over-allotment option in full to purchase an additional 206,250 ordinary shares of the Company at the public offering price of US$4.00 per share. The gross proceeds were $6.325 million from the Offering, before deducting underwriting discounts and commissions, and other expenses. The Company’s ordinary shares began trading on the Nasdaq Capital Market on January 18, 2024, under the ticker symbol “CCTG.”

About CCSC Technology International Holdings Limited

CCSC Technology International Holdings Limited, is a Hong Kong-based company that engages in the sale, design and manufacturing of interconnect products. The Company specializes in customized interconnect products, including connectors, cables and wire harnesses that are used for a range of applications in a diversified set of industries, including industrial, automotive, robotics, medical equipment, computer, network and telecommunication, and consumer products. The Company produces both OEM (“original equipment manufacturer”) and ODM (“original design manufacture”) interconnect products for manufacturing companies that produce end products, as well as electronic manufacturing services (“EMS”) companies that procure and assemble products on behalf of such manufacturing companies. The Company has a diversified global customer base located in more than 25 countries throughout Asia, Europe and the Americas. For more information, please visit the Company’s website: http://ir.ccsc-interconnect.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company’s proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue”, or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission.

For more information, please contact:

CCSC Technology International Holdings Limited
Investor Relations Department
Email: ir@ccsc-interconnect.com

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

 

 

CCSC TECHNOLOGY INTERNATIONAL HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amount in U.S. dollars, except for number of shares)

As of
September 30,
2023

As of
March 31,
2023

Assets

(Unaudited)

Current assets:

Cash

$

7,370,501

$

7,708,310

Restricted cash

9,095

9,305

Accounts receivable

2,295,302

2,260,222

Inventories, net

1,854,088

2,187,518

Deferred initial public offering costs

1,419,736

1,051,038

Prepaid expenses and other current assets

1,407,266

1,242,054

Total current assets

14,355,988

14,458,447

Non-current assets:

Property, plant and equipment, net

179,169

211,949

Intangible asset, net

66,787

88,319

Operating right-of-use assets, net

1,754,977

2,121,070

Deferred tax assets, net

115,989

41,015

Other non-current assets

39,387

41,844

Total non-current assets

2,156,309

2,504,197

TOTAL ASSETS

$

16,512,297

$

16,962,644

Liabilities and Shareholders’ Equity

Current liabilities:

Accounts payable

$

2,009,560

$

1,663,749

Advance from customers

125,218

186,874

Accrued expenses and other current liabilities

1,537,312

1,648,970

Taxes payable

361,035

365,851

Operating lease liabilities – current

434,871

485,051

Long-term bank loan – current

—

39,725

Total current liabilities

4,467,996

4,390,220

Non-current liabilities:

Operating lease liabilities – non-current

1,343,653

1,653,411

Total non – current liabilities

1,343,653

1,653,411

TOTAL LIABILITIES

$

5,811,649

$

6,043,631

Commitments and Contingencies

—

—

Shareholders’ equity

Ordinary shares, par value of US$0.0005 per share; 100,000,000 shares authorized,
   10,000,000 shares issued and outstanding as of September 30, 2023 and March 31,
   2022*

5,000

5,000

Subscription receivable

—

(5,000)

Additional paid-in capital

1,236,773

1,236,773

Statutory reserve

813,235

813,235

Retained earnings

10,628,306

10,214,692

Accumulated other comprehensive loss

(1,982,666)

(1,345,687)

Total shareholders’ equity

10,700,648

10,919,013

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$

16,512,297

$

16,962,644

*The shares and per share information are presented on a retroactive basis to reflect the corporate subdivision and 1 to 2 share split.

 

 

CCSC TECHNOLOGY INTERNATIONAL HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME

AND COMPREHENSIVE (LOSS)/INCOME

(Amount in U.S. dollars, except for number of shares)

For the six months ended
September 30,

2023

2022

Net revenue

$

7,503,520

$

15,620,925

Cost of revenue

(5,223,159)

(10,181,670)

Gross profit

2,280,361

5,439,255

Operating expenses:

Selling expenses

(473,636)

(566,879)

General and administrative expenses

(1,753,179)

(2,202,153)

Research and development expenses

(338,038)

(568,648)

Total operating expenses

(2,564,853)

(3,337,680)

Loss/(Income) from operations

(284,492)

2,101,575

Other income/(expenses):

Other non-operating income, net

51,628

16,221

Government subsidies

—

59,079

Foreign currency exchange gains

539,844

921,565

Financial and interest income/(expenses), net

35,783

(1,483)

Total other income

627,255

995,382

Income before income tax expense

342,763

3,096,957

Income tax benefits/(expenses)

70,851

(256,607)

Net income

413,614

2,840,350

Other comprehensive (loss)/income

Foreign currency translation adjustment

(636,979)

(1,096,403)

Total comprehensive (loss)/income

$

(223,365)

$

1,743,947

Earnings per share

Basic and Diluted

$

0.04

$

0.28

Weighted average number of ordinary shares

Basic and Diluted*

10,000,000

10,000,000

* The shares and per share information are presented on a retroactive basis to reflect the corporate subdivision and 1 to 2 share split.

 

 

CCSC TECHNOLOGY INTERNATIONAL HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amount in U.S. dollars, except for number of shares)

For the six months ended
September 30,

2023

2022

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$

413,614

$

2,840,350

Adjustments to reconcile net income to net cash provided by operating activities:

Change in inventory reserve

73,643

(10,202)

Depreciation and amortization

114,208

172,174

Amortization of right-of-use asset

251,865

276,485

Loss from disposal of fixed assets

595

363

Deferred tax (expenses)/benefits

(79,198)

1,450

Foreign currency exchange gains

(539,844)

(921,565)

Changes in operating assets and liabilities:

Accounts receivable

(47,683)

(2,227,930)

Inventories

164,072

1,559,757

Amount due from related parties

—

478,724

Prepaid expenses and other current assets

(223,354)

39,894

Operating right-of-use assets

—

(2,281,448)

Other non-current assets

—

42,077

Accounts payable

418,473

(600,059)

Advance from customers

(60,075)

(43,413)

Taxes payable

(4,408)

151,071

Accrued expenses and other current liabilities

(39,341)

(56,394)

Operating lease liabilities

(244,763)

1,987,398

Amount due to related parties

—

(215,163)

Net cash provided by operating activities

197,804

1,193,569

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of property and equipment

(52,025)

(110,498)

Proceed from disposal of property and equipment

—

11

Purchase of intangible asset

(19,217)

(23,691)

Net cash used in investing activities

(71,242)

(134,178)

CASH FLOWS FORM FINANCING ACTIVITIES

Proceeds from short-term bank loans

—

136,641

Repayments of long-term bank loans

(39,817)

(77,478)

Payment for deferred initial public offering costs

(366,094)

(442,399)

Capital contribution by shareholders

5,000

—

Net cash used in financing activities

(400,911)

(383,236)

Effect of exchange rate changes on cash and restricted cash

(63,670)

(60,781)

Net change in cash and restricted cash

(338,019)

615,374

Cash and restricted cash, beginning of the period

7,717,615

5,285,940

Cash and restricted cash, end of the period

$

7,379,596

$

5,901,314

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:

Cash paid for income tax

$

(39,402)

$

(39,113)

Cash paid for interest

$

(228)

$

(3,154)

Cash paid for operating lease

$

(288,667)

$

(309,679)

Supplemental disclosure of non-cash investing and financing activities:

Right-of-use assets obtained in exchange for operating lease obligations

$

—

$

1,955,909

 

 

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SOURCE CCSC Technology International Holdings Limited

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Leoguar Electric Bike Makes Christmas Unforgettable with Exclusive Holiday Offers

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5 hours ago

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December 25, 2024

By

HOUSTON, Dec. 25, 2024 /PRNewswire/ — As the holiday season draws near, Leoguar is excited to offer exclusive deals on their range of electric bikes, bringing families together for memorable moments. With a collection designed to combine fun and fitness, this Christmas is the perfect time to gift an unforgettable experience.

“This Christmas, we’re inviting families to rediscover the joy of outdoor exploration. Our bikes help you bond, stay active, and make the most of every moment,” said the Leoguar COO.

Leoguar’s holiday lineup offers premium e-bikes for every rider, now with unbeatable deals: 

Flippo Folding eBike: A lightweight, foldable ride perfect for urban commutes. Upgrade to the Flippo Pro for enhanced performance with a torque sensor for smoother rides.

Fastron Fat Tire eBikes: Built for rugged terrains, the Fastron features a durable, rugged build, and speeds up to 28 MPH, making it the perfect choice for adventurous riders.

Zephyr Beach Cruiser eBikes: Crafted for effortless coastal cruising, the design combines style and comfort, featuring a comfort saddle that ensures a smooth, seamless ride.

Sprint Utility eBike: A versatile, practical choice featuring a sturdy frame and passenger seat, perfect for errands or leisure.

Trailblazer EMTB: Designed for tough off-road trails, the model features a 500W mid-drive motor, offering powerful performance, extended range, and excellent climbing ability.

To make this holiday gift even sweeter, all Leoguar bikes come with free shipping and a two-year warranty for worry-free riding. Additionally, customers can join the holiday giveaway to win prizes like $59 bottle holders, or even a free e-bike!

Leoguar bikes cater to all experience levels, offering comfort and a seamless riding experience. They promote health benefits like improved fitness and stress relief while creating lasting memories on scenic rides.

“Whether it’s cruising the city streets, riding mountain trails, or relaxing by the beach, a Leoguar electric bike is the ideal Christmas gift,” the COO added. “This holiday season, choose a cycling gift that will last for years to come — there’s no better way to kick off the new year.”

To check out the full collection and take advantage of these limited-time offers, visit www.leoguarbikes.com

About Leoguar:

Leoguar is an eco-conscious e-bike brand founded by Johnny, an engineer with decades of industry expertise. Combining innovation, agility, and power, Leoguar delivers high-quality electric bikes designed for adventure, sustainability, and individuality.

Media contact: lily@leoguarbikes.com 

 

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SOURCE Leoguar Electric Bikes

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2024 Financial Oscars: Waton Securities International Honored as “Outstanding Digital Empowerment Institution” of the Year

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7 hours ago

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December 25, 2024

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SHENZHEN, China, Dec. 25, 2024 /PRNewswire/ — In early December, at the 18th Huaxia Institutional Investor Annual Conference of 2024, the 18th Golden Cicada Awards were announced. Waton Securities International was awarded the “Outstanding Digital Empowerment Financial Institution of 2024” for its significant achievements in securities brokerage and fin-tech sector.

The selection for the “Outstanding Digital Empowerment Financial Institution” focused on evaluating companies based on financial performance, market competitiveness, customer recognition, digital strategy planning and implementation, digital transformation outcomes, and risk control capabilities. Particularly, it highlighted cases that have made significant strides in digital empowerment.

The evaluation also emphasized the outstanding performance of financial institutions in their own digital transformation and the sound risk control abilities demonstrated during this process, ensuring that while pursuing innovation, companies can effectively manage and control risks. Waton Securities International distinguished itself among the contenders with its sophisticated technology platform, well-defined digital strategy, substantial transformation achievements, and commendable risk control mechanisms.

Established in Hong Kong in 1989, Waton Securities International has steadily grown with a deep understanding of professional financial services and regulatory compliance. It has obtained licenses 1/4/5/9 from the Hong Kong Securities and Futures Commission, becoming a fully licensed brokerage with comprehensive financial service qualifications. Through continuous technological innovation and digital transformation, it has successfully built a one-stop brokerage cloud service platform, promoting advanced digital financial technology globally. Its pioneering SaaS product, “Broker Cloud”, allows corporate clients to independently deploy and operate high-performance digital customer information management and trading systems without their own IT teams. The solution is relatively low-cost and adaptive to industry, which is the core competitiveness of Waton Securities International.

Data reveals that of the 1,100 securities firms in Hong Kong, approximately 600 are actively trading, yet fewer than 50 have developed their own mobile applications. On a global scale, among the 30,000 securities companies, only a handful—less than 300—feature brokerage trading Apps in App stores. This underscores a significant market demand for the digital enhancement of the securities sector.

With the swift growth of technologies like generative AI LLMs, blockchain, big data, and cloud computing, the securities industry can use these tools to streamline trading strategies, assess risks more accurately, and forecast market trends. These technologies also help the industry to move towards more integrated, platform-focused, and digital operations. The main goal of technology in finance is to increase the efficiency of financial institutions. A good starting point for applying technology is to focus on financial services and build a solid technical foundation for these institutions.

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SOURCE Waton Securities

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Mega Matrix Announced that the English Version of “Getting Even: The Secret Prodigy’s Playbook” Now Streaming on FlexTV

Published

7 hours ago

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December 25, 2024

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SINGAPORE, Dec. 25, 2024 /PRNewswire/ — The highly anticipated English adaptation of the revenge rebirth series, Getting Even: The Secret Prodigy’s Playbook, officially premiered on December 19th on FlexTV, the world-leading short drama streaming platform operated by Mega Matrix Inc. (NYSE American: MPU). The series delves into the intricacies of power struggles within the White family, chronicling the protagonist’s journey of rebirth and empowerment to rewrite her destiny.

Audrey White, the legitimate daughter of the White family, was sent abroad at a young age due to family circumstances, gradually estranging her from her kin. When she finally returns home, eager to reunite with her family, she unexpectedly becomes the target of jealousy from Ruby White, the family’s adopted daughter. Harboring deep resentment, Ruby orchestrates a kidnapping plot, culminating in a devastating fire designed to test the loyalty and affection of the White family.

Left to perish in the flames, Audrey is abandoned by her family but heroically rescued by her uncle. Miraculously, she is granted a second chance at life, returning three years prior with the power to alter her fate. Determined to expose Ruby’s schemes, rebuild her family bonds, and claim her rightful respect and happiness, Audrey embarks on a journey of resilience and redemption.

FlexTV, operated by MPU, is a global leader in short drama streaming, delivering content in over 100 countries in multiple languages, including English, Japanese, Korean, Portuguese, Spanish, French, and Arabic. Known for its premium-quality dramas and unparalleled user experience, FlexTV has captured the hearts of audiences worldwide. The English version of Getting Even: The Secret Prodigy’s Playbook, now streaming on FlexTV, offers a compelling exploration of familial power dynamics, the complexities of human nature, and the protagonist’s growth and self-redemption in adversity. For more exciting content, please visit https://www.flextv.cc/.

#WealthyFamily #Revenge #Rebirth #ShortDrama #FlexTV #MPU

About Mega Matrix Inc.: Mega Matrix Inc. (NYSE American: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through its subsidiary, Yuder Pte, Ltd.. Mega Matrix Inc. is a Cayman Island corporation headquartered in Singapore. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to execute the strategic cooperation with TopReels, ability to obtain additional financing in the future to fund capital expenditures; ability to establish the investment fund with 9 Yards Communications under the memorandum of understanding; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company’s profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company’s future results of operations are subject to additional risks and uncertainties set forth under the “Risk Factors” in documents filed by the Company’s predecessor, Mega Matrix Corp., with the Securities and Exchange Commission, including the Company’s latest annual report on Form 10-K, as amended, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company’s inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company’s assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Disclosure Channels

We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:

The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.

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SOURCE Mega Matrix Corp.

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