secwatch.observer — SEC 8-K summary
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Issuer:     FDCTECH, INC. (FDCT)
CIK:        0001722731
Form:       8-K/A
Filed at:   2022-04-29T23:59:59+00:00
Accession:  0001493152-22-011450
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FDCTech acquires 51% of AD Financial Services; acquired firm posts $5.9M FY2021 revenue
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- FDCTech issued 45M restricted common shares to acquire 51% of AD Financial Services Pty Ltd.
- Acquired entity AD Advisory Services posted FY2021 revenue of $5.9M (up 79% YoY) but net income of only $8K.
- Auditor expresses substantial doubt about acquired entity's ability to continue as a going concern.
- Acquired entity has $530M+ funds under advice, 28 advisors across 20 Australian offices.
- Pro forma combined FDCTech revenue for year ended Dec 2020 would have been $4.9M vs. $215K stand-alone.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1722731/000149315222011450/0001493152-22-011450-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1722731/000149315222011450/form8-ka.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-011450

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