Prestige Wealth Inc. Signs $900K Software Contract
Ticker: AURE · Form: 6-K · Filed: Jul 5, 2024 · CIK: 1765850
Sentiment: neutral
Topics: service-contract, technology, outsourcing
TL;DR
Prestige Wealth Inc. just dropped $900K on FutureTech for software services. Big tech play incoming?
AI Summary
On July 1, 2024, Prestige Wealth Inc. entered into a Software Technology Service Contract with FutureTech Systems Inc. for system customization, development, testing, delivery, and operation and maintenance services. Prestige Wealth Inc. agreed to pay FutureTech Systems Inc. $900,000 for these services.
Why It Matters
This contract indicates Prestige Wealth Inc. is investing in technology infrastructure, which could lead to improved operational efficiency or new service offerings.
Risk Assessment
Risk Level: low — The filing is a routine service contract announcement with a clear dollar amount and counterparty, posing no immediate or significant risk.
Key Numbers
- $900,000 — Software Contract Value (This is the total amount Prestige Wealth Inc. will pay FutureTech Systems Inc. for services.)
Key Players & Entities
- Prestige Wealth Inc. (company) — The company entering into the service contract.
- FutureTech Systems Inc. (company) — The company providing software technology services.
- $900,000 (dollar_amount) — The total payment for the software technology services.
- July 1, 2024 (date) — The effective date of the Software Technology Service Contract.
FAQ
What specific software or system is FutureTech Systems Inc. developing or customizing for Prestige Wealth Inc.?
The filing does not specify the exact software or system being developed or customized, only that it involves 'complete system customization, development, testing, delivery, and operation and maintenance services'.
What is the duration of the Software Technology Service Contract?
The filing does not specify the duration of the contract, only the payment amount and the services to be provided.
What is the expected impact of these services on Prestige Wealth Inc.'s operations or financial performance?
The filing does not detail the expected impact, but the services suggest an investment in technology infrastructure.
Is FutureTech Systems Inc. a new or existing partner of Prestige Wealth Inc.?
The filing does not provide information on whether FutureTech Systems Inc. is a new or existing partner.
What are the payment terms for the $900,000 contract?
The filing states the company agreed to pay $900,000 for the services but does not detail the specific payment schedule or terms.
Filing Stats: 453 words · 2 min read · ~2 pages · Grade level 11.7 · Accepted 2024-07-05 16:30:03
Key Financial Figures
- $900,000 — the Company. The Company agreed to pay $900,000 for the services in the form of 1,500,0
- $0.60 — ares ”) at a price per Share of US$0.60 and warrants to purchase 750,000 Class
- $0.72 — an exercise price per share equal to US$0.72 (the “ Warrants ”). The War
Filing Documents
- ea0209003-6k_prestige.htm (6-K) — 13KB
- ea020900301ex10-1_prestige.htm (EX-10.1) — 884KB
- ea020900301ex10-2_prestige.htm (EX-10.2) — 64KB
- ex10-1_001.jpg (GRAPHIC) — 19KB
- 0001213900-24-059568.txt ( ) — 988KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Prestige Wealth Inc. Date: July 5, 2024 By: /s/ Hongtao Shi Name: Hongtao Shi Title: Chief Executive Officer, Director, and Chairman of the Board of Directors 3