Home  »  Equities Feed   »  Mercurity Fintech Holding Inc. (MFH) Stock Decline...

Mercurity Fintech Holding Inc. (MFH) Stock Declined 2.01% Current-Market, Here’s Why

Mercurity Fintech Holding Inc. (MFH) stock plummeted 2.01% in the current-market trading session at the price of $2.67 despite no fundamental updates. The last published news was its earnings report for the third quarter of 2021.

MFH is a fintech firm that leverages blockchain technology in asset digitization, asset trading, border remittance, and related services. The company offers an authorized forum to allow consumers access cross-broader cryptocurrencies through compliant, efficient, and professional services.

Top 5 EV Tech Stocks to Buy for 2023

The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".

Click Here to Download the FREE Report.


MFH Q3 2021 Financial Summary

On 5th January 2022, MFH delivered its financial results for Q3 ended 30th September 2021. Revenues totaled US$0K for Q3 of 2021, compared to US$41K in Q2 of 2020. The company has G&A costs of US$2,268K for Q3 of 2021. G&A expenses were US$644K in Q2 of last year.

MFH calculated an operating loss of US$2,323K for Q3 of 2021. Operating loss totaled US$633K in Q2 ended 30th September 2020. Mercurity has cash and cash equivalents of roughly US$40K on 30th September 2021, compared to US$175K on 31st December 2020.

MFH Q2 2021 Earnings Report

Earlier on 30th December 2021, MFH announced its financial results for Q2 ended 30th June 2021. Revenues totaled US$0K for Q2 of 2021, compared to US$0K in the same quarter of 2020. Mercurity has a gross profit of US$0K for Q2 of 2021.

MFH calculated G&A expenses of US$2,217K for Q2 of 2021. G&A costs were US$511K in Q2 of the prior year. Net loss totaled US$10,740K for Q2 of 2021, compared to US$1,373K in Q2 of 2020. The company has cash and cash equivalents of US$73K on 30th June 2021.

MFH US$5M Private Placement 

Previously on 19th October 2021, MFH reported entering into a purchase deal to issue its 571 million ordinary shares and warrants at US$0.00875 per share. The company expects to receive US$5M in gross proceeds from the placement. The transaction closed on 20th October 2021 and is subject to customary closing conditions.

Leave a Comment