Greenpro Incubator Business Model and Shareholder Update
HONG KONG, CHINA / ACCESSWIRE / June 4, 2020 / Greenpro Capital Corp. (NASDAQ:GRNQ) today updated its shareholders about its business activities.
Greenpro Capital Corp. (Nasdaq: GRNQ), headquartered in Hong Kong, is a business incubator and a multinational conglomerate, listed on Nasdaq in June 2018.
Greenpro Group possesses regulated financial licenses in Hong Kong, Philippines and Cayman Islands covering CPA, Trust and Corporate Services Provider, Trustee, Money Lending, Insurance Brokerage, Property Agency, Advising in Security, Asset Management, Banking, Crypto Exchange, Crypto Investment Bank, Money Remittance and Registered Mutual Fund.
Currently, Greenpro Group has offices in Hong Kong, Kuala Lumpur, Bangkok and Shenzhen with about 78 staff.
Greenpro's incubation entity, Greenpro Venture Capital Limited, is focused on incubating various businesses, including start-ups, with a vision to go public on the OTC Markets and subsequently up-list to a mainboard exchange or list directly on the NYSE, Nasdaq or HKEX. Currently, Greenpro is nurturing businesses comprising healthcare and wellness, fintech, e-commerce, fine art, renewable energy and LED manufacturing.
Greenpro is incubating a fine art business, Millennium Fine Art, Inc. ("MFAI"), with the intention to go public on a mainboard stock exchange by the end of 2020 or early 2021. We intend for this company to acquire a collection of fine art from some of the world's largest art collectors. The business model will comprise membership subscriptions, selling digital art frames with music by famous composers, a world tour with exhibitions in leading museums, as well as virtual reality museums and augmented reality, i.e. VR and AR.
Greenpro is planning to acquire, using its securities as consideration, a 51% equity interest in a LED manufacturer of high resolutions displays for media and advertising purposes. These display screens range from tablet sizes to 80 inch units, and also manufactures other electronic display products, i.e. Internet of Things ("IOT"). We intend that these products will be further developed and marketed as internet video conferencing solutions for many companies and individuals for their online conference meetings. The company generated net income of about US$2.14 million in 2018. We plan to list this company on a main stock exchange in the USA or Hong Kong as early as 2021.
We have signed a non-binding letter of intent to acquire a 15% equity interest in a regulated Equity Crowd Funding licensed company in Malaysia, and intend to use our securities as consideration for the acquisition.
About the Millennium Fine Art business
GRNQ plans to spinoff MFAI as an independent company and intends to conduct an IPO and list on either the Nasdaq or NYSE. MFAI intends to take the Millennium Sapphire and other art masterpieces on a world tour of museums once they are open to the public, as well as to develop a virtual reality platform including sales and live art auctions. MFAI President, Curtis Brooks said, "We are currently focused on the acquisition of a high-end art gallery business and we intend to retain leading art and promotions experts globally to assist us in acquiring some of the top art collections and masterpieces for exhibits, promotional events as well as viewing and sales through our online multi-dimensional auction platform."
About Greenpro Capital Corp.
Headquartered in Hong Kong with strategic offices across Asia, Greenpro Capital Corp. (Nasdaq: GRNQ) is a business incubator and multinational conglomerate with a diversified business portfolio comprising finance, technology, banking, CryptoSx for STOs, health and wellness and fine art. With 30 years of experience in various industries, Greenpro has been assisting and supporting businesses and High-Net-Worth-Individuals to capitalize and securitize their value on a global scale through the provision of cross-border business solutions, spinoffs on major stock exchanges and accounting outsourcing services to small and medium-size businesses located in Asia. The comprehensive range of cross-border business services include, but are not limited to, trust and wealth management, listing advisory services, transaction services, cross-border business solutions, record management services, accounting outsourcing services and tax advisory services. We also operate venture capital businesses, including business development for start-ups and high growth companies, covering finance, technology, FinTech, and health and wellness. For further information regarding the Company, please visit http://www.greenprocapital.com.
Forward-Looking Statements
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
GRNQ has 58.72 million shares outstanding and 4.88 million shares in the float.
Gilbert Loke, CFO, director
Greenpro Capital Cor
Email: ir.hk@greenprocapital.com
Phone: +852-3111 7718
Contact Dennis Burns. Investor Relations.
Tel (567) 237-4132
For more information on the Millennium Sapphire please visit:
Facebook: millennium sapphire
SOURCE: Greenpro Capital Corp
ReleaseID: 592728
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