Future FinTech Group Inc. (NASDAQ: FTFT) stock observed trading -79.15% off 52-week high price. On the other end, the stock has been noted 51.02% away from low price over the last 52-weeks. The stock disclosed a move of -12.62% away from 50 day moving average and -39.56% away from 200 day moving average. Moving closer, we can see that shares have been trading -12.62% off 20-day moving average. It has market cap of $22.6M.
Future FinTech Group Inc. (NASDAQ: FTFT) reported that it has entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Iliad Research and Trading, L.P., a Utah limited partnership (the “Purchaser”) on March 26, 2019.
Pursuant to the Purchase Agreement, the Company sold and issued to the Purchaser a Secured Convertible Promissory Note (the “Note”) in the principal amount of $1,070,000. The Purchaser purchased the Note with an original issue discount of $50,000, and the Company agreed to pay to the Purchaser $20,000 for fees and costs incurred by Purchaser in connection with the consummation of the Purchase Agreement. The Note was sold to the Purchaser pursuant to an exemption from registration under Regulation D, promulgated under the Securities Act of 1933, as amended. The purchase price for the Note will be paid by the Purchaser through an initial cash payment of $500,000 and the issuance of an Investor note to the Company with a one-year term and an interest rate of 8% (the “Investor Note”), which the Purchaser agrees to prepay in full upon the satisfaction of certain conditions for pledged shares and transfer agent instruction letter pursuant to the Investor Note and Purchase Agreement.
Yongke Xue, Chief Executive Officer and Chairman of Future FinTech says “We welcome Iliad Research and Trading as a new investor as we approach key milestones of the Chain Cloud Mall business. This agreement increases our financial flexibility and will help accelerate the Company’s business development”. “We continue to be grateful for the strong support of those who have invested in us in the past, and who continue to invest in our future.”
The China based company Future FinTech Group Inc. moved with change of 2.78% to $0.74 with the total traded volume of 17101 shares in recent session versus to an average volume of 76.73K. The stock was observed in the 5 days activity at -14.29%. The one month performance of stock was -15.30%. FTFT’s shares are at 21.85% for the quarter and driving a -65.55% return over the course of the past year and is now at 19.01% since this point in 2018. Right now the stock beta is 3.45. The average volatility for the week and month was at 12.11% and 10.99% respectively. There are 31.39M shares outstanding and 10.95M shares are floated in market.