Cloud Alliance Inc. Amends BYND Cannasoft Stake Filing
Ticker: FMTOF · Form: SC 13D/A · Filed: May 17, 2024 · CIK: 1888151
Sentiment: neutral
Topics: amendment, ownership-change, sec-filing
Related Tickers: BYND
TL;DR
Cloud Alliance Inc. updated their BYND Cannasoft filing on 5/17. Something changed.
AI Summary
Cloud Alliance Inc. filed an amended SC 13D/A on May 17, 2024, regarding their beneficial ownership of BYND CANNASOFT ENTERPRISES INC. The filing indicates a change in their holdings, though specific details on the percentage or number of shares acquired or disposed of are not provided in this excerpt. The event requiring this filing occurred on May 16, 2024.
Why It Matters
This amended filing signals a potential shift in control or significant investment activity by Cloud Alliance Inc. in BYND Cannasoft Enterprises Inc., which could impact the stock's valuation and trading dynamics.
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
- Cloud Alliance Inc (company) — Filing entity
- BYND CANNASOFT ENTERPRISES INC. (company) — Subject company
- Zhifa Liu (person) — Authorized contact for Cloud Alliance Inc.
FAQ
What specific change in beneficial ownership prompted this amendment?
The provided excerpt does not specify the exact change in beneficial ownership, only that an amendment was filed on May 17, 2024, related to an event on May 16, 2024.
What is Cloud Alliance Inc.'s current percentage of beneficial ownership in BYND CANNASOFT ENTERPRISES INC. after this amendment?
The filing excerpt does not state the current percentage of beneficial ownership.
When was the previous SC 13D filing for Cloud Alliance Inc. concerning BYND CANNASOFT ENTERPRISES INC.?
The filing is an 'Amendment No. 2', implying there were at least two previous filings, but their dates are not provided in this excerpt.
What is the business address of Cloud Alliance Inc.?
Cloud Alliance Inc.'s business address is 8609 Westwood Center Drive, Suite 110, Tysons Corner, VA 22182.
Who is the authorized person to receive notices for Cloud Alliance Inc.?
Zhifa Liu is the person authorized to receive notices and communications for Cloud Alliance Inc.
Filing Stats: 941 words · 4 min read · ~3 pages · Grade level 10.8 · Accepted 2024-05-17 07:16:59
Key Financial Figures
- $1.2 — open market transactions on average of $1.2 per Common Share for aggregate gross pr
- $1,622,880 — n Share for aggregate gross proceeds of $1,622,880. Item 5. Interest in Securities of the
Filing Documents
- formsc13da.htm (SC 13D/A) — 44KB
- 0002018265-24-000006.txt ( ) — 45KB
Purpose of Transaction
Item 4. Purpose of Transaction The response to Item 4 in the Schedule 13D is hereby amended and restated as follows: On May 16, 2024, the Reporting Persons sold an aggregate 1,127,000 Common Shares of the Issuer in open market transactions on average of $1.2 per Common Share for aggregate gross proceeds of $1,622,880.
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer Following the May 16, 2024 open market transactions reported in Item 4 above, the Reporting Persons hold no securities of the Issuer. CUSIP No. 05608P109 13D/A Page 5 of 5 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. CLOUD ALLIANCE INC. /s/ Zhifa Liu Name Chief Executive Officer Title May 17, 2024 Insert Date ZHIFA LIU /s/ Zhifa Liu Name Title May 17, 2024 Date