Keep Your Eyes on Stock News: ChinaNet Online Holdings (NASDAQ:CNET)

On Thursday ChinaNet Online Holdings (NASDAQ:CNET) traded with change of -3.94% on volume of 65533 shares in the last session as compared to average volume of 343655 shares. During last trade its minimum price was $1.22 and it gained highest price of $1.25. CNET has total market capitalization of $20023299. Its closing value stands at $1.22.

On Nov. 14, 2019, ChinaNet Online Holdings (NASDAQ:CNET) a pioneering data-analysis platform in China harnessing blockchain as well as digital advertising and marketing technologies to serve SMEs and the franchise chain industry, released its unaudited financial results for the third quarter and first nine months of 2019.

Recent Developments

On September 25, 2019, the Company closed the first half of a private placement with a select group of investors (the Investors) in accordance with the Securities Purchase Agreement, originally entered into by the Company and Investors on August 7, 2019. In connection with the closing, the Company issued 1,608,430 shares of common stock (the Shares) in consideration for approximately $2.4 million, representing half of the total $4.8 million worth of Shares to be disbursed under the aforementioned Securities Purchase Agreement. The Company sold each Share to Investors at $1.4927 per Share and conducted the private placement pursuant to Section 4(2) of the Securities Act of 1933, as amended, and Regulation S promulgated thereunder.

On October 14, 2019, the Company announced the appointment of Centurion ZD CPA & Co. (CZD) on October 7, 2019, as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2019. CZD replaced the Company’s previous independent registered public accounting firm Marcum Bernstein & Pinchuk LLP (MarcumBP), which the Company dismissed on October 7, 2019. The change of the Company’s independent registered public accounting firm was approved by the Audit Committee of ChinaNet’s Board of Directors.

Cheyenne Cox is a news report covering multiple Market and economy News. She is creative and highly professional writer. Cheyenne holds a degree in communication and journalism and has also a Diploma in digital marketing. She belongs to south Africa who has also lived in Europe and is currently based in the US.

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