Deng Conglin Amends Abits Group Stake Filing

TL;DR

Deng Conglin updated his Abits Group filing on 11/21/24, related to a 11/14/23 event. Watch this space.

AI Summary

Deng Conglin, through Bridgeforrest (BVI), Inc., has filed an amendment (SC 13D/A) on November 21, 2024, to a previous filing concerning Abits Group Inc. The filing indicates a change in beneficial ownership of Abits Group Inc. ordinary and preferred shares, with the event date for this amendment being November 14, 2023.

Why It Matters

This filing amendment signals a potential shift in control or significant investment strategy for Abits Group Inc., which could impact its stock price and future operations.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in a major shareholder's position, which can lead to increased volatility.

Key Players & Entities

• Deng Conglin (person) — Filing person and beneficial owner
• Bridgeforrest (BVI), Inc. (company) — Entity through which Deng Conglin holds shares
• Abits Group Inc (company) — Subject company

FAQ

Key Financial Figures

• $0.001 — lates to the ordinary shares, par value $0.001 per share (the “Ordinary Shares&r
• $0.00101 — convertible preferred shares, par value $0.00101 per share (the “Preferred Shares&
• $312,461.5 — id to purchase such Ordinary Shares was $312,461.5 in cash. Mr. Deng purchased an aggregat
• $49,079.25 — id to purchase such Ordinary Shares was $49,079.25 in cash. The source of such funds was t

Filing Documents

• formsc13da.htm (SC 13D/A) — 95KB
• 0001493152-24-047217.txt ( ) — 96KB

From the Filing

SC 13D/A 1 formsc13da.htm UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No. 1)* ABITS GROUP INC (Name of Issuer) Ordinary Shares Preferred Shares (Title of Class of Securities) G6S34K105 (CUSIP Number) Conglin Deng Bridgeforrest (BVI), Inc. Unit 17-1008, Sanlitun Service Apartments Chaoyang District, Beijing, China (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 14, 2023 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. Note : Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. G6S34K105 SCHEDULE 13D 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) (see instructions) Conglin Deng 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) (b) 3. SEC USE ONLY       4. SOURCE OF FUNDS (see instructions) PF 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)      6. CITIZENSHIP OR PLACE OF ORGANIZATION China NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7. SOLE VOTING POWER (a) 681,115 Ordinary Shares (b) 5,000,000 Preferred Shares 8. SHARED VOTING POWER 9. SOLE DISPOSITIVE POWER (a) 681,115 Ordinary Shares (b) 5,000,000 Preferred Shares 10. SHARED DISPOSITIVE POWER 5,600,000 Ordinary Shares 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,281,115 (1) 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)     13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 17.7% of the outstanding Ordinary Shares 100% of the outstanding Preferred Shares (2) 14. TYPE OF REPORTING PERSON (see instructions) IN (1) As of November 21, 2024, Mr. Conglin Deng may be deemed to beneficially own: (a) an aggregate of 5,000,000 preferred shares of the Issuer, consisting of 5,000,000 preferred shares owned directly by Bridgeforrest (BVI) Inc., which are convertible into 5,000,000 ordinary shares at any time at the holder’s election; and (b) 6,281,115 ordinary shares of the Issuer, consisting of 548,115 ordinary shares owned directly by Mr. Deng, 5,600,000 ordinary shares owned directly by a trust which Mr. Deng may be deemed to beneficially own, and 133,000 ordinary shares owned directly by Bridgeforrest (BVI) Inc., of which Mr. Deng is the sole director and sole shareholder. (2) Based upon 35,554,677 ordinary shares and 5,000,000 convertible preferred shares of the Issuer, issued and outstanding as of October 23, 2024 as reported in the Form 6-K of the Issuer filed with the SEC on November 6, 2024. Each preferred share is entitled to six votes at meetings of shareholders or on any resolutions of shareholders. 2 CUSIP No. G6S34K105 SCHEDULE 13D 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Bridgeforrest (BVI), Inc. 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3. SEC USE ONLY       4. SOURCE OF FUNDS (see instructions) PF 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)      6. CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7. SOLE VOTING POWER (a) 133,000 Ordinary Shares (b) 5,000,000 Preferred Shares 8. SHARED VOTING POWER 9. SOLE DISPOSITIVE POWER (a) 133,000 Ordinary Shares (b) 5,000,000 Preferred Shares 10. SHARED DISPOSITIVE POWER 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,133,000 (1) 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see in

View Full Filing

View this SC 13D/A filing on SEC EDGAR