8-K
Alset Inc. (AEI)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 19, 2021
| ALSET EHOME INTERNATIONAL INC. | ||
|---|---|---|
| (Exact<br> name of registrant as specified in its charter) | ||
| Delaware | 001-39732 | 83-1079861 |
| --- | --- | --- |
| (State<br> of incorporation<br><br> <br>or<br> organization) | (Commission<br><br> <br>File<br> Number) | (IRS<br> Employer<br><br> <br>Identification<br> No.) |
4800Montgomery Lane, Suite 210
Bethesda,Maryland 20814
(Address of principal executive offices) (Zip Code)
Registrant’s
telephone number, including area code (301) 971-3940
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written<br> communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting<br> material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement<br> communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement<br> communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered |
|---|---|---|
| Common<br> Stock, $0.001 par value | AEI | The<br> Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item7.01 Regulation FD Disclosure.
On August 19, 2021, Alset EHome International Inc. (the “Company”) issued a press release (the “Press Release”) describing the Company’s financial results for the six month period ending June 30, 2021.
A copy of the Press Release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information contained in the Press Release shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”) or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The furnishing of the information in the Press Release is not intended to, and does not, constitute a representation that such furnishing is required by Regulation FD or that the information contained in the Press Release constitutes material investor information that is not otherwise publicly available.
This Current Report on Form 8-K and exhibits may contain these types of statements, which are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and which involve risks, uncertainties and reflect the Registrant’s judgment as of the date of this Current Report on Form 8-K. Forward-looking statements may relate to, among other things, operating results and are indicated by words or phrases such as “expects,” “should,” “will,” and similar words or phrases. These statements are subject to inherent uncertainties and risks that could cause actual results to differ materially from those anticipated at the date of this Current Report on Form 8-K. The Company disclaims any obligation to, and will not, update any forward-looking statements to reflect events or circumstances after the date hereof. Investors are cautioned not to rely unduly on forward-looking statements when evaluating the information presented within.
Item9.01 Financial Statements and Exhibits.
| Number | Description |
|---|---|
| 99.1 | Press Release dated August 19, 2021 |
| 104 | Cover<br> Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ALSET EHOME INTERNATIONAL INC. | ||
|---|---|---|
| Date:<br> August 20, 2021 | By: | /s/ Rongguo Wei |
| Name: | Rongguo<br> Wei | |
| Title: | Co-Chief<br> Financial Officer |
Exhibit99.1
AlsetEHome International Inc. Reports Revenue Up 142% to $12.2M for the
SixMonths Ended June 30, 2021
Thursday, August 19, 2021 9:00 AM
BETHESDA,MD / ACCESSWIRE / August 19, 2021 / Alset EHome International Inc. (NASDAQ: AEI) (“AEI” the “Group” or “Company”), a diversified holding company principally engaged through its subsidiaries in the development of EHome communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products, is pleased to report its financial results for the six months ended June 30, 2021.
“Our real estate and biohealth segments both contributed to our strong performance in the first half of 2021,” commented the Company’s Chairman and Co-Chief Executive Officer, Heng Fai Chan. “Our team’s steadfast execution is evident from our significant top-line growth and I firmly believe we have already established the necessary foundation for sustainable rapid growth in the months ahead.”
FinancialSummary:
| ● | Revenue<br> increased 142% to $12.2 million in the six months ended June 30, 2021, up $7.2 million from the same period of 2020, driven by strong<br> growth in the Company’s real estate and biohealth segments. |
|---|---|
| ● | Gross<br> margin increased from $1.0 million to $5.8 million in the six months ended June 30, 2020 and 2021, respectively, driven primarily<br> by sales growth and an increase in gross margins from the biohealth business. |
| ● | In<br> the six months ended June 30, 2021, the Company had other expense of approximately $79.2 million compared to other income of $2.8<br> million in the six months ended June 30, 2020. The combination of following three non-cash items are the primary reasons for the<br> volatility between these two periods:(a) unrealized loss on securities investment was $30.7 million in six months ended June 30,<br> 2021, compared to $1.6 million gain in the six months ended June 30, 2020; (b) one-time Beneficial Conversion Feature intrinsic value<br> amortization expense of approximately $50.8 million in the six months ended June 30, 2021, compared to finance expense of less than<br> $5,000 in the six months ended June 30, 2020; and (c) foreign exchange transaction gain of approximately $2.4 million during six<br> months ended June 30, 2021, compared to $1.5 million gain during six months ended June 30, 2020 |
| ● | Stockholders’<br> equity increased to approximately $115.1 million as of June 30, 2021, up 17.4% from December 31, 2020. |
| ● | Cash<br> increased to approximately $59.5 million as of June 30, 2021, compared to $25.0 million as of December 31, 2020. |
AboutAlset EHome International Inc.
Alset EHome International is a diversified holding company executing on its vision to accelerate sustainable healthy living with a focus on the development of EHome communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products. Through its operating subsidiaries, Alset EHome’s mission is to provide a healthy living ecosystem that drives long-term exponential growth, building liquidity and value for shareholders. Alset EHome is led by its chairman and CEO, Heng Fai Chan, a successful global business veteran of more than 40 years specializing in corporate transformation while managing risk. Over his distinguished career, Heng Fai Chan has successfully restructured more than 35 corporations with a combined value of $25 billion.
For more information, please visit: www.alsetehomeintl.com.
InvestorContact:
Dave Gentry, CEO
RedChip Companies Inc.
407-491-4498
Dave@redchip.com
Forward-LookingStatement Disclaimer
Statements in this press release contain “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Alset EHome International Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a discussion of the most significant risks and uncertainties associated with the Company’s business, please review our filings with the SEC. Forward-looking statements contained in this announcement are made as of this date, and Alset EHome International Inc. undertakes no duty to update such information except as required under applicable law.
**SOURCE:**Alset EHome International Inc.