M&A
confidence high
sentiment neutral
materiality 0.90
Cosmos Group completes acquisition of Massive Treasure; issues 1.08B shares for 100% ownership
Cosmos Group Holdings Inc.
- Issued 1,078,269,470 shares for 100% of Massive Treasure; director Herbert Lee owns 95% of Massive Treasure.
- Massive Treasure had previously acquired 9 entities in May 2021; remaining 3 entities pending with 55.6M additional shares.
- Chan Man Chung acquired 66.77% of COSG for $420K in June 2021, became CEO/CFO/Secretary; former CEO Miky Wan resigned.
- Company now operates two segments: physical arts/collectibles via Coinllectibles and money lending via 9 Hong Kong subsidiaries.
- Earn-out shares tied to financial milestones with clawback provisions for E-on, 8M, and seven other entities.