AI Era Corp 8-K, filed Apr 22, 2020
AI Era Corp. (AERA)
About this 8-K
AI Era Corp filed this 8-K on April 22, 2020.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): April 22, 2020
AB International Group Corp.
(Exact name of registrant as specified in its charter)
| Nevada | 000-55979 | 37-1740351 |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
|
1st Floor, Union Industrial Building, 116 Wai Yip Street Kwun Tong, Kowloon, Hong Kong |
________ |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (852) 2622-2891
|
______________________ (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:
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17CFR 230.425) |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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. [ ]
SECTION 8 – Other Events
| Item 8.01 | Other Events |
On April 22, 2020, we issued a press release announcing announced that we have nearly completed the first phase development of our highly anticipated video streaming service targeting China’s multi-billion dollar and growing video streaming industry and expects a full launch this year. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
The information in Item 8.01 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.
SECTION 9 – Financial Statements and Exhibits
| Item 9.01 | Financial Statements and Exhibits |
99.1 Press release, dated April 22, 2020
| 2 |
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.
AB International Group Corp.
/s/ Chiyuan Deng
Chiyuan Deng
President
Date: April 22, 2020
| 3 |
- PRESS RELEASE -
FOR IMMEDIATE DISTRIBUTION
APRIL 22, 2020
AB INTERNATIONAL GROUP TO LAUNCH NEW VIDEO
STREAMING SERVICE CALLED ABQQ.TV THIS YEAR
Highlights:
| · | Contribute New and Profitable Revenues to Company Earnings Following Launch | |
| · | Hybrid Subscription and Advertising Business Model to Drive Revenue Growth | |
| · | New Service to Feature Original and Exclusive Content Produced by Company | |
| · | Driven by Company’s Patented and Proprietary Mobile Technology Leveraging 5G Mobile Technology | |
| · | ABQQ.tv to Capture Market Share in China’s Multi-Billion Dollar and Growing Video Streaming Industry |
HONG KONG and NEW YORK, April 22, 2020 -- AB International Group Corp. (Stock Ticker: ABQQ), an intellectual property (IP) and movie investment and licensing firm, today announced it has nearly completed the first phase development of its highly anticipated video streaming service targeting China’s multi-billion dollar and growing video streaming industry and expects a full launch this year. The service will be marketed and distributed in China under the brand name ABQQ.tv and will feature Chinese movies, television shows and drama series produced almost entirely by the Company. ABQQ.tv is expected to generate a new and profitable revenue stream immediately following its launch derived from its hybrid subscription and advertising business model. It will have a mini program called “ABQQTV” running on WeChat platform at launch time, subscribers makes payment of subscription fee through WeChat Pay.
The Company noted that its decision to accelerate the development and launch date of its video streaming service was largely also in part to the mandatory quarantines being implemented due to the COVID-19 pandemic, which has increased viewership of video streaming services and the Internet by as much as 70% over the course of the past several weeks.
The Company today also announced much of ABQQ.tv’s original line-up of at least ten full-length movies that were produced by its in-house studios, 20-minute daily television shows as well as between two to three dramas that have also been produced in-house and are expected to generate similar types of “binge-watching” behavior as their comparable shows do on Netflix in the United States. ABQQ.tv also expects to supplement its line-up of originally-produced programming with content that has been secured from various business partners as a result of their strong interest in partnering with ABQQ.tv while licensing and advertising fees are likely to be the lowest possible pre-launch.
| ABQQ Press Release |
Page 2 of 3
The first ten movies expected to be offered by ABQQ.tv will feature major Chinese movie stars such as Huang Bo, Wang Baoqiang and Yao Chen. Certain television shows will include “Cook at Home” as well as “Live Sports Anywhere”.
“Unlike the video streaming industry in the United States, the market in China is well-diversified and highly competitive with companies spending billions of dollars securing fresh or exclusive media content to entice new viewers, such as House of Cards or The Walking Dead,” said Chiyuan Deng, Chairman and Chief Executive Officer of AB International Group. “The Company believes its ability to produce and own its original content combined with its technological advantages within China’s movie industry, particularly across the new and emerging 5G data network, should enable it to rapidly capture market share across targeted customer segments. Further, our position as one of the new, small but well capitalized players in the market will provide us with the flexibility to quickly take advantage of the opportunities that have emerged from the COVID-19 pandemic, make any adjustments, and ensure we are best positioned to capitalize on such opportunities compared to our larger competitors.
Revenue Growth in China’s Video Streaming Industry
Expected to Near $2.5 Billion By 2024
About AB International Group Corp.
AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on acquisitions and development of various intellectual property. We are engaged to acquisition and distribution of movies. The Company has a Patent License to a video synthesis and release system for mobile communications equipment, in which the technology is the subject of a utility model patent in
| ABQQ Press Release |
Page3 of 3
the People's Republic
of China. We had launched a business application through smartphones and official social media accounts based on WeChat platform
in February 2019, utilizing Artificial Intelligence, it is a matching platform for performers, advertiser merchants, and owners
for more efficient services. It generates revenues through an agency service fee from each matched performance.
For additional information visit www.abqqs.com
Forward-Looking Statements
This press release may contain "forward-looking statements" that are
made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating
to financial and operational performance including the acceleration of revenues and earnings, and the Company's overall strategy. Because
forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed
or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the possibility
of business disruption, competitive uncertainties, and general economic and business conditions in AB International Groups markets
as well as the other risks detailed in company filings with the Securities and Exchange Commission. AB International Group undertakes
no obligation to update any statements in this press release for changes that may happen after the date of this release.
Investor Relations Contact:
Jeff Deng
+852 2622 2891 or 833-919-ABQQ
corp@abqqs.com
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