Item 5. Other Information
ITEM 5. OTHER INFORMATION
Capitalization
On June 9, 2023, the Wyoming Secretary of State
approved the Company’s certificate of amendment to amend its Articles of Incorporation to effect 1 for 185 Reverse Stock Split.
The total issued and outstanding shares of the Company’s common stock decreased from 195,057,503 to 1,054,364 shares, with the
par value unchanged at zero.
The Reverse Stock Split is intended to more expediently
enable the Company to regain compliance to achieve a minimum bid price of $1.00 per share for continued listing on Nasdaq, as set forth
in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Requirement”). As a result of the Reverse Stock Split, every one-for-one
hundred and eighty-five (185) shares of the Company’s Common Stock then issued and outstanding will automatically, and without
any action of the Company or any holder thereof, be combined, converted, and changed into one (1) validly issued and non-assessable share
of Common Stock. No fractional shares will be issued to any shareholder, and in lieu of issuing any such fractional shares, the fractional
shares resulting from the Reverse Stock Split will be rounded up to the nearest whole share of Common Stock.
In September 2023, there were 1,570,600 shares
issued with the total amount of $12,616,454, and the Company’s common stock issued has been increased to 2,625,130 shares as of
December 31, 2023. In April 2024, there are 4,351,280 shares issued with the total amount of $14,776,000 for the acquisition of 20% of
associate company and loan conversion to equity, the Company’s common stock issued has been increased to 6,976,410 shares as of
September 30, 2024.
Bitcoin Option Contract
On May 2, 2024, the Company entered into a Bitcoin
Option Contract (the “Option Contract”) with the Association Seller. Under the Option Contract, the Association Seller agrees
to sell, and the Company has the option to purchase, up to 20,000 BTC at a fixed price of US$60,000 per BTC over a three-year period
commencing on May 2, 2024. The Company can exercise this option at any time during the three-year period, either in one or multiple transactions,
as mutually agreed upon by both parties. Payments for the BTC can be made in cash or in the Company’s common stock, at the Company’s
discretion. In addition, the Option Contract allows for an optional 10% advance payment in cash if agreed upon by both parties. Although
the Option Contract states that the Association Seller (Party B) “owns the virtual currency”, to our knowledge, this statement
was mistakenly made. As of the date of the Option Contract, it were the individual members of the Association Seller, not the Association
Seller itself, who own the BTC to be sold under the Option Contract.
As of the date of this report, the Company has
not paid any advance payment, nor exercised its option to purchase any BTC under the BTC Option Contract. Further, the Company does not
intend to exercise its option to purchase any BTC under the BTC Option Contract.
The above description of the Option Contract
does not purport to be complete, and is qualified in its entirety by reference to the full text of the Option Contract, a copy of which
is attached to the Company’s Current Report on Form 8-K as Exhibit 10.2, filed with the SEC on May 6, 2024, which is incorporated
by reference herein.
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ITEM 6. EXHIBITS
Exhibit
No.
Description
10.1
BTC Trading Contract, dated September 25, 2023, between Next Technology Holding Inc., as Party A (Buyer) and ANTS INVESTMENT MANAGEMENT PTE. LTD, as Party B (Seller)
10.2
Amendment Agreement, dated May 2, 2024, between Next Technology Holding Inc., as Party A (Buyer) and ANTS INVESTMENT MANAGEMENT PTE. LTD, as Party B (Seller)
10.3
Bitcoin Option Contract, dated May 2, 2024, between Next Technology Holding Inc., as Party A (Buyer) and ANTS INVESTMENT MANAGEMENT PTE. LTD, as Party B (Seller)
10.4
Contract Cancellation Agreement, dated June 20, 2024, between Next Technology Holding Inc., as Party A (Buyer) and ANTS INVESTMENT MANAGEMENT PTE. LTD, as Party B (Seller)
10.5
Bitcoin Option Contract Cancellation Agreement, dated June 20, 2024, between Next Technology Holding Inc., as Party A (Buyer) and ANTS INVESTMENT MANAGEMENT PTE. LTD, as Party B (Seller)
10.6
Amended and Restated BTC Trading Contract, dated September 24, 2024, between Next Technology Holding Inc., as Party A (Buyer) and ANTS INVESTMENT MANAGEMENT PTE. LTD, as Party B (Seller)
31.1
Certification
of Principal Executive Officer filed pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of
the Sarbanes-Oxley Act of 2002 Filed herewith
31.2
Certification
of Principal Financial Officer filed pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of
the Sarbanes-Oxley Act of 2002 Filed herewith
32.1
Certification
of Chief Executive Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002 Filed herewith
32.2
Certification
of Chief Financial Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002 Filed herewith
101
Financial
statements from the quarterly report on Form 10-Q of Next Technology Holding Inc. for the fiscal quarter ended September 30, 2024,
formatted in XBRL: (i) the Balance Sheet; (ii) the Statement of Income; (iii) the Statement of Cash Flows; and (iv) the Notes to
the Financial Statements Filed herewith
104
Cover
Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
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SIGNATURES
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, thereunto duly authorized.
NEXT TECHNOLOGY HOLDING INC.
Date: December 23, 2024
By:
/s/ Wei Hong Liu
Wei Hong Liu
Chief Executive Officer
/s/ Eve Chan
Eve Chan
Chief Financial Officer
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