NFT Ltd Files 2023 Annual Report

TL;DR

NFT Ltd dropped its 2023 20-F, check it for crypto asset biz updates.

AI Summary

NFT Ltd filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The company, incorporated in E9 and headquartered in Hong Kong, operates in the Finance Services sector, specifically within 'Crypto Assets' (SIC 6199). The filing details its business operations and financial status for the reporting period.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of NFT Ltd's performance and financial health for the 2023 fiscal year, crucial for understanding its position in the crypto assets market.

Risk Assessment

Risk Level: medium — As a company in the 'Crypto Assets' sector, NFT Ltd is subject to the inherent volatility and regulatory uncertainties associated with the cryptocurrency market.

Key Numbers

• 20231231 — Fiscal Year End (The period covered by the annual report.)
• 20240516 — Filing Date (The date the 20-F was officially submitted to the SEC.)

Key Players & Entities

• NFT Ltd (company) — Registrant and filer of the 20-F
• 0001958713 (company) — Central Index Key for NFT Ltd
• 6199 (company) — Standard Industrial Classification code for Finance Services (Crypto Assets)
• 333-268865 (dollar_amount) — SEC File Number for NFT Ltd
• 24953282 (dollar_amount) — Film Number for the filing

FAQ

Key Financial Figures

• $0.005 — tered Class A Ordinary Share par value $0.005 per share MI NYSE American Securities
• $ — are in U.S. dollars. References to "US$," "$", "dollars" and "U.S. dollars" are
• $7.8019 — of HK$ into U.S. dollars were made at HK$7.8019 and HK$7.8015 to US$1.00, the exchange
• $7.8015 — S. dollars were made at HK$7.8019 and HK$7.8015 to US$1.00, the exchange rates set fort
• $1 — re made at HK$7.8019 and HK$7.8015 to US$1.00, the exchange rates set forth in the

Filing Documents

• ea0201620-20f_nftltd.htm (20-F) — 1416KB
• ea020162001ex2-1_nftltd.htm (EX-2.1) — 108KB
• ea020162001ex8-1_nftltd.htm (EX-8.1) — 4KB
• ea020162001ex12-1_nftltd.htm (EX-12.1) — 10KB
• ea020162001ex12-2_nftltd.htm (EX-12.2) — 10KB
• ea020162001ex13-1_nftltd.htm (EX-13.1) — 4KB
• ea020162001ex13-2_nftltd.htm (EX-13.2) — 4KB
• ea020162001ex15-1_nftltd.htm (EX-15.1) — 3KB
• ea020162001ex15-2_nftltd.htm (EX-15.2) — 2KB
• ea020162001ex97-1_nftltd.htm (EX-97.1) — 36KB
• image_001.jpg (GRAPHIC) — 31KB
• image_002.jpg (GRAPHIC) — 14KB
• image_003.jpg (GRAPHIC) — 8KB
• ex15-1_001.jpg (GRAPHIC) — 8KB
• ex15-1_002.jpg (GRAPHIC) — 4KB
• 0001213900-24-043897.txt ( ) — 7035KB
• mi-20231231.xsd (EX-101.SCH) — 82KB
• mi-20231231_cal.xml (EX-101.CAL) — 66KB
• mi-20231231_def.xml (EX-101.DEF) — 301KB
• mi-20231231_lab.xml (EX-101.LAB) — 650KB
• mi-20231231_pre.xml (EX-101.PRE) — 319KB
• ea0201620-20f_nftltd_htm.xml (XML) — 739KB

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 61 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 61 PART II 62 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 62 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 62 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 62 ITEM 16. [RESERVED] 63 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 63 ITEM 16B. CODE OF ETHICS 63 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 63 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 64 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 64 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 64 ITEM 16G. CORPORATE GOVERNANCE 64 ITEM 16H. MINE SAFETY DISCLOSURE 64 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 64 PART III 65 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 65 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 65 ITEM 19. EXHIBITS 65 i INTRODUCTION ii FORWARD-LOOKING INFORMATION The discussion contained in this Annual Report on Form 20-F ("Annual Report") contains "forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the United States Securities Exchange Act of 1934, as amended, or the Exchange Act. Any statements about our expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases like "anticipate," "estimate," "plans," "projects," "continuing," "ongoing," "target," "expects," "management believes," "we believe," "we intend," "we may," "we will," "we should," "we seek," "we plan," the negative of those terms, and similar words or phrases. We base these forward-looking the date of this Annual Report. These forward-looking statements are subject to a number of risks and uncertainties that cannot be predicted, quantified or controlled and that could cause actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. Statements in this Annual Report describe factors, among others, that could contribute to or cause these differences. Actual results may vary materially from those anticipated, estimated, projected or expected should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect. Because the factors discussed in this Annual Report could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement made by us or on our behalf, you should not place undue reliance on any such forward-l

forward-looking statements

forward-looking statements. Currency, exchange rate, and other references Unless otherwise noted, all currency figures in this filing are in U.S. dollars. References to "US$," "$", "dollars" and "U.S. dollars" are to the legal currency of the United States. References to "HK$" are to the Hong Kong dollars, the legal currency of Hong Kong. Our reporting currency is U.S. Dollars. This Annual Report also contains translations of certain foreign currency amounts into U.S. dollars for the convenience of the reader. Unless otherwise H.10 statistical release of the Federal Reserve Board on December 31, 2023 and December 31, 2022, respectively. We make no representation that the HK$ or U.S. dollar amounts referred to in this Annual Report could have been or could be converted into U.S. dollars or HK$, as the case may be, at any particular rate or at all. References to "Hong Kong" are to "Hong Kong, Special Administrative Region of the People's Republic of China". Unless otherwise specified or required by context, references to "we," "the Company", "NFT Limited", "our" and "us" refer collectively to (i) NFT Limited, (ii) the subsidiaries of NFT Limited, Takung ART CO LIMITED, Takung DIGITAL TECHNOLOGY LIMITED ("NFT Digital"), Takung EXCHANGE LIMITED ("NFT Exchange ") and its wholly owned Hong Kong subsidiary, METAVERSE DIGITAL PAYMENT CO., LIMITED ("Metaverse HK"), respectively. iii PART I

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

Item 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not Applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

Item 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not Applicable .

KEY INFORMATION

Item 3. KEY INFORMATION Not applicable B. Capitalization and Indebtedness Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. D. Risk Factors Summary of Risk Factors Investing in our Ordinary Shares involves significant risks. You should carefully consider all of the information in this annual report before making an investment in our Ordinary Shares. Below please find a summary of the principal risks we, our subsidiaries, the VIE and its subsidiaries face, organized under relevant headings. These risks are discussed more fully in the section titled "Item 3. Key Information—D. Risk Factors" in this annual report. RISKS RELATED TO OUR BUSINESS AND FINANCIAL CONDITION We are transitioning our business from PRC based business to internationally operated with a focus in U.S. Our business plan is at its early stage of development. Starting from summer of 2021, we started to expand our business to provide block chain based consulting services to the companies engaged in releasing NFT and related businesses. In November 2021, the artwork unit trading platform operated by Tianjin Takung was suspended by the local authority as a result of the regulatory scrutiny by PRC governments on digital asset related business started. Since beginning of 2022, we made strategic decision to diversify our revenue stream while focusing on utilizing NFT related technologies. We are currently in an early development stage and may be subject to growth-related risks. Although our management believes that our current business strategy has significant potential, our Company may never attain profitable operations and our management may not succeed in realizing its business objectives. If it is not able to execute our business strategy as anticipated, the Company may not be able to achieve profitability, and our business and financial condition may be adversely affected. 1 The global economy and the financial markets may negatively affect our business a

View Full Filing

View this 20-F filing on SEC EDGAR