APE has started Metaverse business and wants to issue shares
Hong Kong-listed Asia Pioneer Entertainment Holdings Ltd, known primarily as a distributor and technical support provider for third-party casino equipment sold in Macau and other Asia-Pacific markets, is the “Metaverse.”
In information technology, the Metaverse is a network of virtual worlds presented via 3D images and focused on social connections. These technologies are already in use by retailers and other service providers and offer alternatives to shopping directly or browsing standard service provider websites.
“The company believes that Metaverse and its emerging technologies can provide an engagement platform for customers in the travel and hospitality sector and Macau and Asia,” Asia Pioneer said in a filing Wednesday.
The company added: “Blockchain technology and non-fungible tokens that allow digital items or properties to be owned, sold and transferred in the digital world have the potential to attract more travelers / users and advance Metaverse’s commercial applications.”
In using the new unit, APE Digital Creations Ltd, Asia Pioneer said the parent company “has a team with extensive experience and technical know-how in the development of the Metaverse and related businesses.”
However, as of the date of the announcement, investors said, “The new subsidiary has not yet completed the development of any project.”
In another filing on the same day, the group voted for a proposal to issue up to 200 million shares at the annual shareholders meeting in Macau on May 11, with the number of such shares equal to 20%. Said. Total number of issued shares as of the resolution date.
In late March, Asia Pioneer reported a total loss of approximately HK $ 23.1 million in 2021. This is an improvement over the loss of HK $ 32 million in the previous year.
Revenue in 2021 was approximately HK $ 7.6 million. 81.1% down From the previous year.
According to the company, the “significant drop” in sales was mainly due to the decline in sales in the electronic game equipment business.