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Color Star Technology Co. Ltd. (CSCW) Further Up After Hours on Nasdaq Extension to Regain Compliance

The AI-focused entertainment technology company, Color Star Technology Co. Ltd. (CSCW ) shared some good news on April 27. The company said that it has been given an extension to regain compliance with Nasdaq. Consequently, the stock went up by a further 25.43% in the after-hours following a slight gain of 2.63%. Thus, CSCW stock rose to a value of $0.1667 in the session while 11.21 million shares exchanged hands.

Source: WAATAgNet

CSCW’s Nasdaq Non-Compliance

The company has been in non-compliance with the Nasdaq minimum bid price requirements since October 2021. After trading below $1.00 a share for 30 consecutive days, it was notified by Nasdaq of the delinquency on October 27 and was granted a grace period till April 25, 2022. CSCW failed to regain compliance with the Listing Rule 5550(a)(2) and 5810(c)(3)(A) in the initially granted 180 calendar days.

On Wednesday, the company said that it received a written notification from Nasdaq dated April 26, 2022. According to the notification, the company is eligible for an additional 180 calendar day period to regain compliance with the minimum bid requirements. Hence, it now has until October 24, 2022, to regain compliance with Nasdaq.

Moreover, the company also said that it has submitted written notice of its intention to regain compliance within the second grace period. If the company’s shares close on or above $1.00 per share for consecutive 10 days within the given period, it will have regained compliance with Nasdaq.

What’s CSCW’s Status?

While CSCW stock has suffered a huge downfall year to date, the company has been making progress continuously. With the launch of its beta metaverse platform in January 2022, the company has tirelessly been working on developing its Color World. The company has even established a new subsidiary in Singapore to focus on its metaverse digital commerce and products. The latest from its metaverse includes a strategic partnership for setting up the world’s first digital airport on Color World.

Furthermore, the company has also formed multiple partnerships in 2022 and extended its business with operations in Europe.

Given the buzz around metaverse and the increasing adaptation of AI in every field, the company has set itself on the right course for a bullish future.

Conclusion

CSCW stock traded in the green on Wednesday as it shared the good news of receiving an extension for regaining compliance with Nasdaq. Investors were very cheerful about the extension and rallied the stock in the after hours.

April 28, 2022
Color Star Technology Co., Ltd. (CSCW) Stock Declined Premarket After Partnership Announcement.

Color Star Technology Co. Ltd., (CSCW ) is a company primarily focused on entertainment and education. It is the provider of digital entertainment and music education services. The company’s digital education is provided by its Color World music and entertainment educational system.

The price of CSCW stock during regular trading on March 1, 2022, was $0.23 with a minute decline of 2.62%. At last check in the premarket on March 2, 2022, the stock declined by 1.30%.

CSCW: Events and Happenings

On March 1, 2022, CSCW reported that one of the luxury women’s watches French brand ‘Galtiscopio Gatti’ had formally entered the company’s metaverse portfolio. The company will support the online marketing of the brand along with helping it grab the new market prospects presented by the metaverse. On February 25, 2022, CSCW updated on its entry into a sponsorship contract with Villareal CF, which is the European soccer powerhouse. Both the companies together embarked hand in hand on a football ride.

On February 24, 2022, CSCW announced the completion of its registered direct offering for the acquisition and sale of 25,000,000 ordinary shares and warrants (making a unit). The acquisition price was $0.4 per unit. The net proceeds from the sale of the securities were around $10.0 million. The warrants are exercisable at a per-share price of $0.4. The gross proceeds from the offering will be utilized for general corporate purposes.

On February 23, 2022, CSCW informed the press that ‘Unbounded Human’, an Asian trendy clothing brand had entered CSCW. It is the initial Asian high-end clothing brand to land on the company’s platform. On February 18, 2022, CSCW updated on its co-operation with Jilin Great World Aviation Service Co., Ltd. for the introduction of enterprises to the company’s APP. The main goal of the company is to set up a virtual ticketing hall along with carrying virtual collaboration in business hotels and tourism.

On February 16, 2022, CSCW reported that its entertainment metaverse software is available on Android App Store for download.

CSCW: Key Financials

On November 2, 2021, CSCW released its full fiscal year financial outcomes for the year ended June 30, 2021. Some of the important features are mentioned below.

Revenue

Revenue during the full year of 2021 was observed to be $6.8 million versus no revenue in the fiscal year 2020. The company observed a 100% increase in its revenue year-over-year.

EPS

Basic and diluted net loss in fiscal 2021 was $8.23 million or $0.12 per share in comparison to $11.6 million or $0.99 per share in the same period of 2020. The company recorded an incline in its EPS over the year.

Conclusion

CSCW stock down-performed by 78% in the last six months as the companies were facing extreme recession in the pandemic. The current premarket fall in the stock price is the outcome of the announcement of the entry of a French luxury brand into the company’s portfolio.

March 2, 2022
Color Star Technology Co. Ltd. (CSCW) stock declined in the current market, here is why?

With its recent announcement of a $10 million worth of share and warrant issue, Color Star Technology Co. Ltd. (CSCW) has fallen in the current market. CSCW values at $0.25, gaining more than 51% compared to yesterday’s closing price. The stock closed at $0.52 at the end of the last trading session. The stock volume traded in the last trading session was around 2.17 million shares. The current market cap of the company is around $75.33 million.

CSCW announcement of a $10 million share and warrant issue

Specific institutional investors have purchased shares and warrants of Color Star Technology Co. Ltd. (CSCW) in a registered direct offering of ordinary shares and warrants. One common share and one warrant to acquire one common share make up each unit. The cost of each unit is set at $0.40.

Prior to eliminating placement agency fees and other expected offering costs that the Company must bear, the total proceeds of the sale of the shares will be about $10.0 million. Ordinary shares and warrants for an aggregate amount of 25,000,000 ordinary shares will be issued to investors in total. The warrants are worth $0.40 per common share as a starting point.

Overall corporate and working capital expenditures will be financed using the net proceeds of this Issue. If all closing conditions are met, the placement is scheduled to be completed on or around February 24, 2022. Additionally, Maxim Group LLC serves as the exclusive arrangement broker for this transaction.

CSCW Financial Position

CSCW announced its fiscal 2021 results on November 2. In fiscal 2021, the firm recorded sales of $6.8 million, up 100% compared to $0 in fiscal 2020. For the first time in three years, the firm grew sales and gross profit. CSCW also generated a $2.6 million gross profit in fiscal 2021, a 100% increase year-over-year.

Conclusion

The announcement of the shares and warrants offerings to direct investors adversely affected the stock. On Tuesday, its stock lost half its value when the trading started. A localized Asian version of metaverse Color World, developed by Color Star Technology, will be released this month.

February 22, 2022
Color Star Technology Co. Ltd. (CSCW) stock Falls Under Corrections After Hours

On February 14, Color Star Technology Co. Ltd. (CSCW) announced the upcoming launch of its metaverse Color World’s localized Asian version this month. This news caused the stock to soar in the following regular session on Tuesday, gaining a huge 93.11%. But this huge gain as expected was followed by the stock’s downfall in the after-hours due to corrections.

During the regular trading, CSCW stock added $0.4282 at its closing price of $0.8881. Following the gain, the stock succumbed to corrections in the after-hours to lose 29.40%. Hence, CSCW stock was trading at a price of $0.6270 per share at an after-hours volume of 3.93 million. Thus, the stock went under corrections in the after-hours to shed its gains from the previous session due to Monday’s news.

More about CSCW

The entertainment and education company, Color Star Technology Co. Ltd. was founded in 2002. Presently, the company has a market capitalization of $67.16 million with 146.04 million shares outstanding.

So far fiscal 2022 has proven very fruitful for the stock as it depicts a picture in green. CSCW stock has increased by 83.42% in the past five days alone while it added 88.32% last month. Currently, the stock stands at a year-to-date gain of 76.74% while it lost 33.23% last year.

The Asian Version of Color World

Since the release of Color World on the iOS store, it has been downloaded by over one million users. The current version of the metaverse is only available in English, thus, restricting its full potential.

On Monday, the company announced that it will be launching a localized Asian version of Color World this month. The Asian version will include simplified and traditional Chinese, Japanese and Korean. Moreover, the content will mainly showcase Asian celebrities, music, and Asian folk instrument masterclasses. It will also include occasional virtual celebrity meet-ups and concerts with Asian celebrities.

CSCW’s Financial Overview

On November 02, the company reported its financial results for fiscal 2021, which ended on June 30, 2021.

In fiscal 2021, the company reported revenue of $6.8 million, a 100% increase YOY against $0 in the prior fiscal year.

Furthermore, CSCW had a gross profit of $2.6 million in fiscal 2021, again a 100% increase YOY over the previous year.

Fiscal 2021 was the first time in the past three years that the company reported significant revenue and gross profit growth.

February 16, 2022
Color Star Technology Co., Ltd. (CSCW) stock has decreased to 7.96% – Recent News

Color Star Technology Co., Ltd. (CSCW) experienced a decrease of 7.96% in the premarket without any official news released by the company. However, the last trading session closed at $0.4348 with an increase of 1.78%.

Latest Version of Color World – What’s New?

On 28^th January 2022, CSCW announced Color Star, the company’s entertainment metaverse product, which can now be downloaded from Apple App Store and Google Play Store. The original release of the entertainment metaverse Color World is now available to users worldwide, following extensive testing and fine-tuning. The metaverse in this edition is set in Dubai, United Arab Emirates, and CSCW plans to add virtual models of several cities in the future. Not only this but users can choose an in-game avatar to represent them in the metaverse after downloading and registering.

Furthermore, Color World’s social features allow users to meet and speak with other users from all over the world, shop for whatever they want in the metaverse’s shops and attend masterclasses from celebrity singers, artists, and athletes in virtual classrooms. The present version of Color World is a pretty rudimentary build, and CSCW believes that there is still plenty of room for improvement. CSCW is hoping that when they’ve had a chance to explore the metaverse, users will help them to improve the user experience.

Famous Tea Brand Partnership with CSCW – What’s up?

CSCW announced the partnership of Guangzhou Star Space Catering Management Co. with Color World on 24^th January 2022. Many branded restaurants have begun to launch new channels to seek more diverse development in the last two years, as a result of the pandemic. Moreover, the metaverse craze was sweeping the globe in 2021, and fast-food businesses jumped on board. As a result, the shopkeepers welcomed the spring season once more. Furthermore, based on the current Metaverse trend, Color Star and Star Space’s collaboration will provide the platform with more life and commercial viability.

So what?

More and more consumers are opting for enhanced or creative catering experiences. At the same time, keeping a brick-and-mortar store open and attracting clients is no longer as simple as it once was. Technology will create new business options for the catering sector. Color World must include numerous scenes and aspects, as well as be linked to businesses, in order to become a technology-based entertainment sharing platform in the future. While making money, the merchant members will continue to reap the benefits and surprises that technology has to offer, ensuring Color Star’s long-term success.

January 31, 2022
Color Star Technology Inc. (CSCW) stock surges during pre-market trading. Why is it so?

Color Star Technology Inc. (CSCW) stock plunged in the last trading close by 11.26% whereas the CSCW stock rises by 45.52% during the pre-market trading session after Color Star announced that they are building a non-fungible token (NFT) business. Color Star Technology is an entertainment and education business that offers online entertainment and also provides music education through online ways.

What is happening?

Color Star Technology recently revealed that its entirely owned subsidiary, Color China Entertainment, is establishing a non-fungible token (NFT) company for the manufacture, release, and promotion of NFT in the areas of network copyrights, concerts, artist images, TV shows, music, museum collections, and celebrity-exclusive product designs.

Under this new initiative, NFT business by Color Star Technology will focus on Copyright procurement, concert videos, and ticket sales, as well as music and artist engagement. CSCW expects to capture more benefit and recognition opportunities for artists and collectors alike by using NFT encryption technology. Color Star’s latest NFT production could aid in the creation and launch of NFTs for all of the Color Star’s clients, including online museum collections, online concert videos and ticketing, personalized celebrity merchandise, and creator copyrights, to name a few.

Recent Past Development

On March 25, 2021, Color Star Technology announced that they have invited Steve Aoki who is among the world’s top 100 DJ stars to perform on Color Star App which is the international platform for sharing entertainment on April 23, 2021. Color Star is set to start its online live show which is expected to be a big hit. Steve Aoki is introducing his personal electronic music display to the Color Star APP for the first time, raising the appeal of electronic music. Steve Aoki will be the platform’s exclusive DJ for a month as part of this partnership.

March 30, 2021
Color Star Technology Co., Ltd. (CSCW) stock rallied in pre-market: Why did it happen?

Shares of Color Star Technology Co., Ltd. (CSCW), a music education service provider and entertainment platform, continued to rise in Wednesday’s pre-market session after recording a gain of 5.45% at the previous closing. CSCW stock price was pushed 59.48 % in today’s pre-market session to reach $1.85 a share at the time of this writing. There is no particular activity by the Color Star today to explain this rally but it seems that rising Bitcoin price and NFTs speculations are the driving force behind this rise. Let’s see what is happening.

Tesla accepts Bitcoin as Payment Option

Recently the Worlds second richest person Elon Musk announced that Tesla will accept Bitcoin as the payment option after which the BTC shares jumped by 5%. The rise in BTC resulted in the gain of many stocks that are somehow associated with cryptocurrency and CSCW is one of them as if we Go back to the previous week, we find the announcement made by the CSCW stock that Color Star made cooperation agreement between Color China Entertainment Co., Ltd, a wholly-owned subsidiary of Color Star, and Doman (HK) Ltd according to which the former will get the blockchain support by the later for Color World APP, which is an interactive entertainment platform of CSCW

Recent Developments

On March 11, CSCW has made an agreement between its wholly-owned subsidiary Color China Entertainment and Meadow Films LA Inc. for the production and distribution of large-screen movies.CSCW stock also signed up for the long-term strategic partnership with Guangxi, China-based Yinmiao Culture Development Co., Ltd to work mutually in various areas including, piano competitions, art festivals, offline and online training, sales and production, and many other areas to play a major role in the entertainment industry.

Conclusion

Rising Bitcoin prices have driven the CSCW stock price today. Color star has been much in the news for the past couple of weeks due to its recent developments. Color Star management is deeply focused on expanding its business especially in tech fields like Artificial intelligence, augmented reality, and Mixed reality that also points to the designing of NTF based products in the future.

March 24, 2021