Greenpro Capital Corp. (GRNQ) Stock Gaining Momentum in Afterhours. Here’s the Reason

Greenpro Capital Corp. (GRNQ) is engaged in the financial consultation and provider of corporate services to small and medium enterprises. The company’s diverse business platform comprises finance, banking, CryptoSX for STOs, health, and fine art. The company also operates capital new ventures including development from scratch for start-up businesses and high growth industries.

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The price of GRNQ stock during the regular trading on January 18, 2022, was $0.53 with a significant dip of 6.05%. At last check in the aftermarket, the stock was up by 9.09%.

GRNQ: Events and Happenings

On January 18, 2022, GRNQ reported about its listing of the DIGau Security Token on the company’s CryptoSX Online Asset Exchangeissued via Dignity Corporation.

GRNQ: CEO Comments

Speaking at the occasion, GRNQ CEO Dr. Lee said that the listing of DIGau Token is a great success thus enablingCryptoSXas one of the largest global STO portfolios. He further added that the launch of the Shariah Compliant ESG online asset exchange by the company will impact the big, capital untapped DeFi market.

On December 28, 2021, GRNQ reported about the submission of license application to Labuan Financial Services Authority for the establishment of Shariah Compliant Online Asset Exchange. The exchange offered services including Security Token Offering, NFT Marketplace, Carbon Credit Exchange, and Cryptocurrency Exchange.

On December 15, 2021, GRNQ reported about the launch of SpaceTech Industrial Ecosystem by Angkasa-X (GRNQ’s incubated company), and PIKOMf or the ASEAN region. On December 2, 2021, GRNQ reported about entry into a partnership with SEATech Ventures Corp. and PIKOM for the development of local unicorns. This partnership is reinforced by the Malaysian Government.

GRNQ: Key Financials

On November 10, 2021, GRNQ reported its financial results for the quarter ended September 30, 2021. Some of the key updates are as follows

Revenue and Assets

Total revenue for the quarter was reported at $0.42 million as compared to the same period prior year when it was $0.67 million. Total current assets for Q3 2021 were $6.9 million.

Net Loss per Share

Basic and diluted net loss for Q3 2021 was $6 million or $0.09 per share compared to the same period of 2020 when it was $0.42 million or $0.01 per share.

On November 9, 2021, GRNQ reported about the receipt of formal notification from the NASDAQ about regaining its compliance with the Listing Rule by maintaining a least closing bid price of $1.00 per share. On November 4, 2021, GRNQ reported about its progressive plan to venture into a crypto-mining business after signing the deal of Private-Public Collaboration to develop a digital asset portfolio in BIMP-EAGA.

Conclusion

The price of GRNQ stock dropped 38% as compared to the past six months period due to various factors one being the economic recession due to pandemics. The analysts believe that the company should put more effort into its investor relations. The listing of the security token on the company’s CryptoSX Exchange is the likely basis of the current aftermarket stock surge.