Know Your Horoscope with Snapchat’s New Astrological Features

You remember Snapchat right? Well, they have been improving and updating their app with new features to keep you more engaged and also ensure you’re connected with your pals even though you may not be meeting face to face.

It comes as no surprise that people love astrology and Snapchat is looking to make astrology even more accessible via their app. They are introducing a brand new feature called an Astrological Profile. With this new feature, you can find out your personality traits according to your horoscope. The app will bring up a detailed astrology profile based on your birthdate and horoscope.

In addition to your personal profiles, Snapchat is also allowing you to get to know yourself and your friends better with a compatibility reading between you and any other person you know who has set up their astrological profile. You’ll be able to tell if they have when you see a purple icon beside their Snap score. The readings will be presented in stories format and will take into consideration 10 different planetary dimensions.

Source: Snapchat

Snapchat has partnered with Cosmopolitan US’s astrologer, Aurora Tower, to ensure that the information provided in these features are accurate. Users who activate the feature will receive a daily analysis of your zodiac sign which is believed to factor into your personality and other dimensions of your life.

The Astrological profile will take into consideration ten different astrological elements: the Sun, the Moon, Mercury, Venus, Mars, Jupiter, Saturn, Neptune, Pluto, Uranus. The information is then condensed into an Astrology Profile Summary. You can send these snaps to your friends or post it up on your story.

This new features is available in the latest version of Snapchat on iOS and Android.

24 Hours with the Canon EOS R5 – A Walk Through Town

The world has changed drastically in the time of this COVID-19 pandemic. The future generations will look back at this time and wondered how we ever got through this odd year unscathed. The thing is, we did not go through this unscathed. We are still living through it and everyone in the world is affected in different ways.

In Malaysia, the government decided to act fast and locked down the country to control the viral spread. They introduced the Movement Control Order (MCO) to limit the amount of movements and people exposed to the outside world and each other. Everyone had to be wearing masks, and everyone had to distance themselves from each other.

Even after the whole MCO period which lasted nearly three months for Malaysia, in a period Malaysia calls Recovery Movement Control Order (RMCO), plenty has not recovered, or completely adjusted to the world that came out after. What better moment then to go for a photo walk? It was at a perfect moment too; Canon just launched their new Canon EOS R5.

Source: Canon

The Canon EOS R5 is Canon’s latest mirrorless high-end photography tool. The new mirrorless camera has a 45-Megapixel sensor that can shoot at 20fps (very impressive). It packs Canon’s latest Digic X image processor as well. Best of all, at least as hyped by Canon themselves, is the fact that it now shoots videos at 8K resolution, uncropped.

It sounds like a recipe for a production powerhouse. It also sounds like Canon is taking the mirrorless market seriously, taking the fight to Sony. With the introduction of the Canon EOS R5, they are one-upping Sony in their video capabilities. But the improvements do not just end there. They have introduced some improvements in their video stabilisation capabilities. Finally, you have an in-body image stabiliser. Imagine using that with a compatible Optical Image Stabilised lens, the result should look amazing.

In all seriousness though, while it does look like an ultimate content creator tool, it is not priced as such. It will set you back MYR 17,999. That is the price of its body only. You add up the mirrorless RF lenses that Canon makes, and that will easily go up to MRY 20,000 for a set of content creation kit that is ready to go. If your first reaction is “it is so expensive,” we agree. For comparisons sakes, a Blackmagic Design Pocket Cinema 6K camera will set you back about MYR 10,000 without lenses.

We do not think that the Canon EOS R5 is a tool that you might want to rely on for 8K videography though. We see it as a photography first device with some impressive video shooting capabilities. We also almost never relied on anything higher than 4K resolution in our production so far because we post our videos in 1080p Full HD resolutions. That also means that 4K videos are more than enough for us. Of course, with 8K you have more resolution and pixels to play with. Which also means you can capture more detail and you can pick any fames across the 8K frame to create 1080p videos.

Source: Canon

Still, the Canon EOS R5 is a photography first camera in our opinion. That is what we are going to work with in these 24 hours with the camera. To be fair, we only have a few days with the camera from Canon and we could only spend a whole day with the camera. We chose to take the camera around Kuala Lumpur after the three months of MCO, just to see what the town looks like after the big pandemic scare. Of course, we want to see what the camera can do.

We have to apologise a little bit. We were so focused on taking photos using the Canon EOS R5, we forgot to take photos of the camera itself. Most of the photos of the camera comes from Canon’s website. There is virtually no difference between the camera and its pictures from the website. We do apologise for this oversight, but what matters is the end result, right?

The First Few Hours – Preparation in The Night

We had planned out a whole day, essentially to get the Canon EOS R5 in different kinds of shooting conditions and different times. It is also a test of its battery life because we are left with only one battery. In that case, we had to ensure that the battery packs a full charge for the next day of use.

That is the first thing we did, get the battery charged. But before that, we had to familiarise ourselves with the camera before taking it out for a spin, just so that we do not need to spend an hour to set the camera up the next day. Of course, we could just leave it on Auto mode and let the camera do its thing. Thing is, Auto mode does not do the review justice enough, as excellent as it is.

First Impressions

Source: Canon

First things first, the Canon EOS R5 breaks all the rules or the conventions of a mirrorless camera. The Canon EOS R5 is big and bulky. It is lighter than the conventional DSLR, yes, but not by that much. Compared to what we are used to from Sony, it is a hefty camera in our hands. It is a much bigger camera compared to the Sony Alpha cameras as well.

That is not necessarily a bad thing though. It feels familiar to Canon user, and that is important. It also means that the ergonomics are quite excellent for a camera, something that Canon has always been particularly good at. Thanks to the larger body size as well, your grip on the camera is more firm, more assured. Of course, the larger grip also means you can fit larger batteries that can last a whole day. True enough, I did not need to switch battery or even need to worry about battery life the whole day.

If you came from a Canon platform from before, every button is where they need to be and where you are used to. The touch sensitive button and slider thing that was on the Canon EOS R is gone to be replaced with a joystick, which is better in our opinion. Thanks to the bigger body too, the buttons do not feel cramped and compacted. Overall, the Canon EOS R feels good in the hands, albeit a little hefty for a Mirrorless camera.

Source: Canon

Then you dig into the settings to get familiarised and do a little bit more settings so that you are more comfortable with the camera. There are a few customisation options, which we did not touch, which means most of the buttons work just as the factory intended. In that case we just need to know what buttons and knobs do what and test them just to know they work. Of course, we had to see if we can get our viewfinder to see what we should see when we take photos. It does that by default too though, we just need to be sure.

The settings menu is as simple as you can remember though. Canon’s menu system makes plenty of sense and is simple to understand. Everything is where you expect them to be and you do not need to dig too deep into the menu system to find what you want.

Walking Through Kuala Lumpur

I would say that the best way to tell you about the camera is via the photos that we take through the streets of Kuala Lumpur. But of course, we cannot just do that. While we are going to still show you the photos that we took, we are going to walk you through the camera as well.

15mm f/4.5 1/5000 ISO400

The Set-Up – Versatility, Convenience, Best Compromise

First, we are going back to the weight of the camera again. In terms of an interchangeable lens camera, this is one of the lightest full-frame cameras that Canon has made. In that sense, it is less hefty than carrying a large Full-Frame DSR kit. That also means that it is less cumbersome. The lenses we have with us were more cumbersome, in fact. We had with us an RF24-70mm f/2.8L IS USM and RF15-35mm f/2.8L IS USM lenses loaned with the EOS R5 so that we can shoot a variety of things.

Why did we choose these two lenses? Good question. The most general lens than any photographer can get is the 24-70mm lens. In the case of the Canon EOS R5, only the RF 24-70mm f/2.8L IS USM is available for the mirrorless camera. I could go for the 28-70mm option, but that will add MYR 3,000 to the shopping cart. Well, not like we bought this anyway. We are going with sensibility and practicality here.

The 24-70mm was a must have, so that was settled quickly. We had to think of the perfect set up to got for a walk through the city. In that case we also had to think about heft. So, we decided that we needed only one more lens. Usually, you want to go for three lenses for the perfect set up.

Initially we thought of getting a prime lens, a portrait 50mm or 35mm lens. We also wanted a wide frame, so we thought the 35mm could be perfect. But what if we wanted to capture an even wider area? What if we want the extra width on the frame to capture something like the Petronas Twin Towers properly? We decided to go for a zoom lens then. The RF15-35mm f/2.8L IS USM is the perfect choice.

We wanted to see if the extra stabilisation from the body would work nicely with image stabilised lenses, that is why we went with the RF IS lenses. The total price of the kit we tested totals to MYR 28,437. That is still a lot of money, just for a photo walk. But the lenses we pick are not just lenses you can use in a city. They are some of the most versatile lens lengths you can get for any set up. You can take the set up for a video shoot, for landscape photography, portrait photos, and more.

Keep in mind that these are the choices we made based on what we feel is the best choice for our use case. You may have a completely different perfect set up from what we pack in the gear bag, and that is not wrong either.

The Canon EOS R5

We left most of the settings default on the camera and switched our camera mode to manual to have full control of whatever the camera has. We switched between the two lenses constantly in different situations as well. We also went around KL the whole day, starting from the most iconic skyscraper in Kuala Lumpur, all the way to the weirdly pretty intersection of Bukit Bintang.

In this write up we are going to be focusing on its photo taking abilities more than its video capabilities. While there is enough time for us to work on a video with the 8K video capabilities, we will not have time to work on its photography aspect in that case. We had to choose.

But we also want to know if the interchangeable camera market is dead. We want to know if the Canon EOS R5 still has its place in a photographer’s kit bag. We want to know if it is worth spending all that money on the Canon EOS R5. 24 hours is not a lot of time, but we recon we have enough information after a whole day of walking through the city with the EOS R5.

We started in the morning where lighting is not an issue. One of the rules in photography and videography alike is knowing how to work with lights and getting enough lights for your subject. If you are using a smartphone camera, you leave it to auto and it will adjust itself in Auto mode and AI to help you. On the Canon EOS R5 or any other interchangeable cameras you might want to practice working with as much manual controls as possible for practice. Mastering those also allows you to create more creative looking photos. After all, it is all about making your subject look good.

Speedy Autofocus

Canon cameras has always been known for their accurate and fast autofocus speeds. They have no problem following a subject or change depth quickly depending on your subject. The same can be said on the Canon EOS R5 too. Autofocus is fast and responsive, and very accurate as well. They say that the autofocus is a little faster than before. In our tests, we cannot tell because we do not have another Canon DSLR to test it against, and the speed difference is minute.

What we appreciate though is the wider autofocus points on the camera. The amount of autofocus points on the Canon EOS R5 also means that autofocus works on almost every part of the frame. That also means that even if your subject is way off the frame, the EOS R5 should have no problems getting it in focus. You might want to tap on your touchscreen though, if your subject is that far off to the side, just to help the camera a little bit.

35mm f/4 1/4000 ISO500

If your subject is a person or animal though, Canon EOS R5 has Eye AF (eye autofocus). The Autofocus automatically recognises an eye on your subject and adjusts the autofocus to the eyes. The result is always sharp faces kept in focus.

Overall, there is nothing too surprising from Canon’s brilliant autofocus technology. It does not mean that it is not special either. Imagine trying to keep up with a moving subject while shooting 45-Megapixel photos in 20fps, then that sounds more impressive. The Canon EOS R5 can really keep uo with that.

Bigger Touchscreen, Better Viewfinder

Of course, because this is a mirrorless camera, the only preview you get from the camera is what is being fed to the lens. You have to rely on the EOS R5’s large 45-Megapixel sensor to feed what it ‘sees’ to either your 3-inch LCD display or the electronic Viewfinder (EVF). Here comes the small problem of mirrorless cameras.

EVF, in its early days in the first of Sony’s very famous line of mirrorless cameras are not great. They are a little slow, they tend to flicker a little bit, they are also not very colour accurate in that time. These are still perceived to be problems on mirrorless cameras today. That is also because you are looking at a screen instead of a mirror.

Thankfully though, EVF has taken a major leap since its first inception and its use in the first of Sony’s many mirrorless cameras. EVFs are now in a league of their own with added flexibilities and advantages of their own. In fact, some people might find that an EVF could be better than the traditional see through viewfinder.

Source: Canon

Yes, you are mostly looking at pixels through the viewfinder window. You are also looking at very tightly packed pixels in a small space, which also means you should not see the individual pixels sticking out to you. For the Canon EOS R5 at least, the EVF is something you are going to rely on quite a lot.

The EVF on the Canon EOS R5 is reliable though. The display is bright, accurate, and fast. It easily keeps up with you and what you need it to do. What you see on the EVF is what you most likely will get once you press the shutter button.

That is another advantage of the EVF, you see what the sensor sees. While that is also true for a traditional DSLR, the traditional DSLR does not necessarily adjust itself to the changes in the sensor sensitivity. The EVF, by default, does. That also means that the EVF can present to you the most accurate photo once you press the shutter button at the current settings, which I always find very helpful in all kinds of conditions.

You can set your EVF also to adjust itself to the surroundings so that you can see through the EVF even if your normal eyes cannot. It takes a little bit of digging through the settings to get the EVF to adjust itself to ambient lighting, but it is worth it if you work in the studio and rely on the flashes for your main source of lighting. It at least helps you frame your subjects in low-light conditions. Sadly, the Canon EOS R5 does not have the same low-light shooting capabilities of the Sony α7S line-up.

Clever Protection

The Canon EOS R5’s big body has some advantages though. Of course, Canon will keep saying that because of the more compact form factor they can fit a bigger lens flange and therefore create lenses with bigger aperture. They also say they can fit higher quality glass and have more creative possibilities with new mirrorless lenses, since the glass distance from the sensor to the lens is much shorter.

Beyond that though Canon has fitted something they probably forgot to mention plenty of in their press releases and statements. They can install a curtain in front of the sensor without sacrificing weight and space to protect the sensors from debris and what not when you need to change lenses. This is quite clever for us.

Source: Canon

We were going around shooting photos on the street of Kuala Lumpur. The place is not necessarily the cleanest place in the world. There is pollution from everywhere, and quite dusty due to the never-ending construction projects, and the overwhelming traffic.

If you are a photographer, you know how important it is to keep dust and grimes away from your sensors. A spec of dust can potentially damage your sensors and ruin your camera. Its most vulnerable moment is when you change lenses. We were toying between the longer lens and the shorter lens.

At least with the cameara on, the curtain comes down whenever we detach the lens from the body to swap to the other lens. That also means that your sensor is protected behind a layer of plastic to ensure we do not ruin the expensive kit. But we find that we will not be the only ones benefiting from this set up. Wedding photographers, or even studio photographers can benefit from this, since their work requires them to switch between multiple lenses all the time.

Super Photos, Super Quiet

The Canon EOS R5 may be advertised as an 8K video recoding powerhouse with a stellar built-in stabilisation. In our eyes, the Canon EOS R5 is a photography first camera with a steal 45-Megapixel sensor that is also paired to a built-in stabilisation mechanism that can be paired to image stabilised lens platforms too. The results of this combination? Nothing short of breath taking.

Source: Canon

The first thing you have to notice on photos that you take on the Canon EOS R5 is the sharpness in details you get on the 45-Megapixel photos. If you shoot in RAW, you get huge photos to work with on the Canon EOS R5. You also get detail like no other with RAW.

Thing is, you are going to be posting most of your photos in JPEG file format. In most cases too, when you are doing things quickly, you are going to work with JPEG file formats too, they are smaller and quicker to work with, they are ready for presentation. RAW has its advantages, but you might want to take some time with the images for post edits and other creative things you want to work with on the photo.

We Took photos in both RAW format and JPEG format. We can tell you that even in JPEG format, the amount of detail is quite amazing if you get your focus right. Everything in focus of the camera is super sharp even when you zoom in. With Eye AF, you are really a step above in your portrait game. Of course, some of the details in the photos are thanks to the make of the lenses Canon borrowed us as well. They are RF lenses with f/2.8 after all. These are also lenses that costs about MYR 10,000 in total, mind you.

Because this is a 45-Megapixel photo too, you can manipulate your frame a little bit more just because you have more pixels and detail to play around with. You can zoom in a little bit and your photos will still look stellar. We managed to select a few photos and edit them through a smartphone as well, to be posted on Social Media. With a little bit of colour tweak, they can look stunning.

Since this is a Canon camera, skin tones are as expected. Skin tones are very natural to work with and some photos look like they are perfect for posting right out of the camera. Of course, we prefer to edit them a little bit first before posting. If you work with RAW photos, you can compensate under or overexposure very quickly, you can even change the colour profile a little bit just to make correct some lighting effects on skin tones and objects. Then again, you can make your photos look like anything in RAW format. Malaysia is also blessed with multiple cultures and various skin tones though. In that department too, we are happy to report that the Canon EOS R5 can make any skin tone work.

The first thing that we noticed with the camera also is just how quiet it is. Because there are no mechanical moving parts, the camera shutter action is a virtual one instead of an actual actuation of a shutter mechanism. That also means you can operate is silently and quickly at that. This can shoot at 20fps stills after all. We took advantage of that, but we have to remember to release our shutter button as soon as we snap a photo. Plus, the quiet shutter does not alarm others during out street photography session.

At this point we would say that it is easier and better for you to judge the photos on your own. The selected photos are in JPEG format and they are not altered in anyway before uploaded.

Gallery

Edited from RAW

24 Hours of Canon EOS R5

The Canon EOS R5 is nothing short of breath taking in its touted abilities and capabilities. It is the most feature packed Canon high-end camera to hit the market too. On paper, the Canon EOS R5 seems to bridge the difference or deficit they had against the other mirrorless giant, Sony. In some sense, the Canon EOS R5 seems to be the company’s answer to the mirrorless camera market.

35mm f/2.8 1/2500 ISO10000

At the same time though, the Canon EOS R5 does cost quite a little bit more than the traditional DSLR. It is sold as an all-rounder too, which seems a little counter-intuitive to what the market is used to with mirrorless cameras. We also think that the communication efforts also deviate from what the camera does best; take breath taking photos without breaking your backs. We also think that Canon could also use some variations to different focuses in their mirrorless camera line-up.

We love their lenses though because they really know what they are doing with their lenses. Of course, that should be quite expected since they have been working with lenses forever. They are the world’s largest camera lens manufacturer for a reason.

We also love the fact that Canon is fitting even more technology in their camera than we could possibly ask for. The in-body stabilisation combined with the lenses that we had at our disposal made taking photos seem easy. You could take photos while walking and the photos will come out stable and clean. Of course, you might want to consider holding steady when you are taking photos in low-light conditions. But running and gunning is possible with the Canon EOS R5.

Kuala Lumpur Crossroads

We would like to have a little bit more time with the camera, obviously to test out its 8K video recording capabilities. We did a quick timelapse video manually, but that was not in video mode. There are a few more functions we would like to familiarise ourselves with too with the camera. We did not get to test out plenty of the modes that the camera offers, because we had a crammed schedule with the camera.

Would we recommend the camera? With just about a day or so with the camera under our belts, it is hard to say. We would say that it really depends on what you want from your camera. If you have access to about MYR 25,000 and is a Canon enthusiast, I will say you could.

But the decision must come into its own considerations as well. You have to think of you lens ecosystem. Remember that the Canon EOS R5 works on RF lenses. You need to buy an adapter to make your EF lenses work with the camera. That is extra expenses if you already shoot exclusively on EF lenses. It is still better than porting from a Nikon or a Sony ecosystem though. If you are already on RF lenses since the Canon EOS R, I will ask you to reconsider your decision properly. The Canon EOS R is not a bad camera on its own. Sure, the Canon EOS R5 can shoot at 8K resolution, but would you use that in your workflow?

27mm f/4.5 1/1000 ISO500

If not, you can also see this as a chance to jump ship. If you are running on Canon’s EF lenses ecosystem and you want to transition to a mirrorless camera, you could either look at what Nikon has to offer or even Sony. Sony’s lenses are already made to work with their mirrorless camera, and they have been in the game for a long time. That also means that their lens selections are currently more vast too. At the same time, you might spend a little less if you switch platforms, depending on what you want from your camera. If you are a photographer first, the Sony α7R III is about MYR 5,500 less than the Canon EOS R5. The α7R IV with a 61-Megapixel sensor in tow is MYR 2,700 less than the Canon EOS R5.

The choice, ultimately, is still yours. We like all they have done to the Canon EOS R5 to make it a huge and real contender in the mirrorless camera market. The only issue is that it is still more expensive than what most of its competitors can offer. We also think that Sony’s vast experience in the mirrorless market still means something. We are not taking anything away from the canon EOS R5, it is a formidable piece of kit to work with. But we would still rather fall back on Sony for mirrorless cameras, sad to say.

Megvii accelerates international roll-out of Koala smart access solution

BEIJING, Nov. 16, 2020 — Megvii Technology Limited announced the deployment of its facial recognition-based smart access solution, Koala, in Japan, Singapore, Thailand, Brazil, and the United Arab Emirates (UAE), to help international enterprise customers enhance safety and strengthen security in commercial and office settings. This represents another milestone in the Company’s efforts to help businesses across the globe accelerate their digital transformation with AI.

The Koala solution is designed to support enterprise customers in authenticating and controlling access to private and restricted locations, such as office buildings, school campuses, and residential compounds. Powered by Megvii’s proprietary algorithm, the solution enables swift authentication and registration of authorized personnel and supports functions such as attendance tracking and visitor registration and management.

Overseas locations that have recently installed Koala include:

  • Hug Gym, Chiang Mai, Thailand: Megvii customized and deployed a comprehensive smart access solution that allows gym managers to monitor and supervise the reception area with ease, including enabling one-to-one facial authentication for employees and registered gym members. The solution also encompasses real-time alerts to flag unauthorized access into the premises.
  • SEB High School, Brazil: Megvii deployed the Koala solution to improve campus safety and security, allowing for one-to-one facial authentication and identity verification of students, teachers, administrators, and other school staff. The system can also swiftly detect and flag access by unauthorized persons.
  • One of the Largest Oil Rig Builders in the United Arab Emirates (UAE): The Koala solution was deployed to enable the efficient verification of over 20,000 employees and registered visitors. This also removes the need for employees to use access cards or fingerprint verification, which can take considerably longer than one-to-one facial authentication, especially in the challenging environment of field operation.

About Megvii

Established in 2011, Megvii is a world-class AI company with a core competency in deep learning. Leveraging its proprietary AI productivity platform Brain++, Megvii focuses on three key verticals: Personal IoT, City IoT, and Supply Chain IoT. Megvii provides full-stack solutions to customers, integrating algorithms, software, hardware, and AI-empowered IoT devices.

Related Links :

https://www.megvii.com/

AP Ventures invests USD 10 million into Happay targeting the Chinese market

SHANGHAI, Nov. 16, 2020 — The Australian-based investment company, which is set up to collaborate with and counts Afterpay as its largest shareholder, has completed a USD 10 million investment in Happay, China’s first BNPL (Buy Now Pay Later) platform, taking a 20% stake and valuing Happay at USD 50 million. This investment is a part of AP Ventures’ strategy of investing in high growth, scalable opportunities.

Happay Logo.
Happay Logo.

Happay is the first zero-interest credit payment product in China with "1/4 down payment, four periods free of interest, and zero fees". In August, Happay entered shopping malls within the Mixc system in Shenzhen and Hangzhou. Shenzhen and Hangzhou have a large younger consumer demographic which is the primary focus for Happay. The Mixc brand has more than 50 shopping centers in China, with an annual turnover of more than RMB 100 billion. It is the most successful, well-known and high-end mall chain in China. 

Happay shopping mall partners
Happay shopping mall partners

AP Ventures decided to invest USD 10 million in Happay following the success of Happay’s initial launch based on its strong growth metrics and traction in the market. 

"We see this as an enormous opportunity," said Hein Vogel, CEO of AP Ventures. "BNPL is booming in Australia and the US, but there aren’t many offline solutions in China that resemble Afterpay. We see China as an attractive market and are excited to partner with Happay." 

Happay has built a solution which can be embraced by shopping malls, merchants and consumers by targeting in-store solutions for shopping malls. The ease of use and deployment of the solution is attractive to merchants and its interest-free nature with no upfront fees makes it an appealing solution for consumers.

Chen Jin, Founder and CEO of Happay, has more than 20 years of experience in the commercial real estate and retail industry, and the core team members have significant experience in this field.

After the capital raise, Happay is rapidly expanding its business and operating model across China’s tier one cities, including launching into key shopping centers such as Shenzhen Mixc World, Shenzhen Coastal City, Shenzhen KingGlory Plaza, Mixc One in Xiaoshan in Hangzhou, and Lanzhou Center, the largest mall in northwest China.

By the end of October, within two months of launch, Happay has nearly 1,000 stores partnering with it. It has partnered with leading international and domestic brands such as MO&Co, bebe, Devialet, etc. Meanwhile, Happay has also expanded more broadly into adjacent sectors including children’s education, fitness, medical beauty, dentistry, etc., including strategic relationships with chain brands, such as Meland and GYMBOREE.

Happay brand store partners
Happay brand store partners

According to the data, Happay has helped more than 80% of its partner brand stores to increase customer transaction value by 30%. 25% of the stores that have partnered with Happay have seen customer transaction value increase by over 100%. The outstanding results have attracted positive feedback from retailers and brands.

Happay’s pace of growth combined with the size of the Chinese market with a population of over 1.4bn has strengthened its desire to replicate Afterpay’s success in the Australian market. Happay is excited about its future and Happay’s prospects in the changing retail landscape.

CommsChoice becomes Australia’s first vendor of Contact Centre for Microsoft Teams Direct Routing

SYDNEY, Nov. 16, 2020 — Leading cloud communications provider, ASX listed CommsChoice Group Limited (ASX: CCG), today announced that it has expanded its Microsoft Teams Direct Routing solution to include Contact Centre functionality, allowing companies to implement a call centre natively within their Teams environment.

CommsChoice Microsoft Teams Contact Centre Call Centre
CommsChoice Microsoft Teams Contact Centre Call Centre

CommsChoice Executive General Manager, Tony Dunphy, said that the Company was the first vendor in Australia to integrate this functionality with Microsoft Teams Direct Routing.

"We have delivered over 20 Teams contact centre and call centre solutions in our first two years of providing Teams calling, which I think means we can also lay claim to being one of Australia’s most experienced Microsoft Teams contact centre providers."

Call centres today act as one of the main channels of interaction for customers. And because of all the other ways customers engage with companies – phone, email, text, social – every member of the business has the potential to be involved in engaging a customer directly and therefore needs to have the right tools. This expanded scope of customer interactions across the entire business needs tools that provide consistency, continuous improvement, value added reporting and scale.

Mr Dunphy said, "Because the future of work has essentially been fast tracked, we’re seeing big demand for integrating contact centres with Microsoft Teams for customers deploying Teams Calling capabilities.

Direct routing means contact centre agents can make and receive calls within Microsoft Teams and it supports customer interaction work streams by acting as the hub for internal and external customer connection across all modes of communication including chat, video meetings and calling."

CommsChoice cloud-based software – Insights – provides access to features such as call recording, IVR, supervisor, reporting, and wallboards. The call recording feature captures incoming and outgoing customer calls and stores them securely, and in accordance with all compliance standards. Calls are stored in the same location as the Microsoft Office 365 tenancy, which is domiciled so local data compliance is also assured.

Mr Dunphy said, "We have a range of call centre options to suit companies with either an on-premises or cloud set up including native, semi native and hybrid contact centre solutions. Teams also enables ‘work from anywhere’ and will help ensure consistent and constantly improved customer engagement from any device, any channel, location or time zone."

ENDS

About CommsChoice

CommsChoice Group provides cloud communications for business. The company services SME and mid-tier corporate customers in Australia, Asia and internationally using its cloud based global business phone platform and Microsoft Teams calling/Direct routing integration combined with innovative SD-WAN technology and fibre and NBN access products.

For more information visit www.commschoice.com or follow the company on LinkedIn @CommsChoiceGroup or email us on enquiries@commschoice.com 

Related Links :

https://www.commschoice.com

Australian Crypto Exchange CEO Argues to Move All Long-Term Digital Asset Storage Offline

Alex Harper, the founder of Australia’s fastest-growing online cryptocurrency exchange, Swyftx, recently reminded his community that offline storage is the superior option for long-term crypto holding as soon as crypto is purchased on an exchange.

SYDNEY, Nov. 16, 2020 — The CEO of Swyftx, Australia’s fastest-growing online crypto exchange is suggesting that all crypto holders should immediately purchase an offline wallet like Ledger Nano S as soon as they buy crypto because offline storage is superior.

The CEO argues that other exchanges need to step up to educate users on the importance of crypto security. He argues that other exchanges and executives need to say this message themselves just like he and his team are doing. They have also dedicated blog posts and potions of their website to educating users on cryptocurrency storage.

"Other exchanges are not stressing cold storage options hard enough. Don’t get me wrong, the technology of exchanges has advanced lightyears since the Mt. Gox era, or even where we were when we first started almost 3 years ago. However, it’s still hard if not impossible to beat offline crypto storage. Crypto exchanges need to come out and talk to their communities about this… big time."

Swyftx’s Community-Centered Approach to Crypto

Since they started in 2017, Swyftx has:

  • Country’s Largest Selection: They offer 189 cryptocurrencies which is more than any other exchange in Australia. They have an iOS and Android application as well as over 30,000 users.
  • 1,100% Growth: From 2018 to 2019, grew from doing over $10 million in monthly trading volume to $120M in monthly trading volume, a volume they’ve kept up during the COVID pandemic. Grew from a two-person founding team who were science camp buddies into Australia’s fastest-growing startup.
  • Country’s Highest-Rated Exchange: The exchange currently has a 4.9 out of 5-star rating on TrustPilot with over 600 5-star reviews. Meanwhile, competitors hover around a rating that is roughly 20% less favourable.

Harper said that Swyftx is more concerned about creating a great product that people love over anything else. He said Swyftx is more concerned about loyalty than profitability because he believes that by differentiating yourself as a trustworthy brand in this space, you’re already leagues over other brands with a clouded or lukewarm reputation.

"Swyftx is concerned about creating a company that is profitable, but one that does the right thing. Other exchanges have been silent on cold storage and using Ledger. They want all of the funds to stay deposited on the exchange. However, we know that by doing the right thing and making our users more aware of Ledger, we will be building loyalty instead of orchestrating a quick cash grab. This will be apparent to our users because they know we have their best interest in mind. This is a long-term strategy to build trust with our users."

Swyftx has even created a guide to help users understand the risks with online storage and the benefits of hardware wallets.

About Swyftx

Swyftx is Australia’s most trusted and progressive cryptocurrency trading platform. It implements layered security, instant verification, best prices and live chat support. In 2019, Swyftx has grown 1100% to over $120M in monthly trading volume. Since then, Swyftx has grown to over 30,000 users and is planning to go international by 2021. Here is a link to the exchange’s website: https://swyftx.com.au.

Contact Details:

Press@swyftx.com.au

Related Links :

https://swyftx.com.au

Huntkey to Present at Hong Kong Autumn Sourcing Week Digital Show

SHENZHEN, China, Nov. 14, 2020 — Huntkey, a leading provider of power solutions, will be presenting at the Hong Kong Autumn Sourcing Week Digital Show (shorted for "the show" below) from November 16– 27, 2020.

Huntkey at the show:
https://sourcing.hktdc.com/en/Supplier-Store/Home/Shenzhen-Huntkey-Electric-Co-Ltd-/1S00NUCXX?ref_source=SearchKeyword&ref_term=huntkey&ref_medium=N

The show is a one-top online sourcing platform for buyers and suppliers to continue explore more business opportunities across various industries. It’s organized by the Hong Kong Trade Development Council (HKTDC), a statutory body established in 1966 as the international marketing dedicated to creating opportunities for Hong Kong’s businesses.

The show is all digital to ensure public health and safety in view of the COVID-19 pandemic. At the show, Huntkey is planning to showcase its main categories of products that include air purifiers, power supplies, power strips, surge protectors, monitors, adapters and led lamps.

Recently Huntkey has released a portable desktop air purifier, and it will be also showcased at the show. The desktop air purifier is incorporated with photocatalyst decomposing systems that can efficiently remove airborne hazards such as particles, smokes, bacteria and viruses. It measures a radius of 108mm and height of 160mm, which is well-suited for small space purification especially on an office desk. For more information, please visit: https://en.huntkey.com/

About Hong Kong Trade Development Council

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 as the international marketing dedicated to creating opportunities for Hong Kong’s businesses. The organisation has 50 offices around the world, including 13 on the Chinese mainland. With more than 50 years of experience, its mission is to explore opportunities for Hong Kong companies, especially small and medium-sized enterprises (SMEs), and connect them with business partners around the world.

About Huntkey

Huntkey Enterprise Group, founded in 1995 and headquartered in Shenzhen, is a member of The International Power Supply Manufacturer’s Association (PSMA) and a member of The China Power Supply Society (CPSS). With branch companies in the USA, Japan and other areas, and cooperating factories in Brazil, Argentina, India and other countries, Huntkey has specialized in the development, design, and manufacturing of PC power supplies, industrial power supplies, surge protectors, adapters and chargers for many years.

Related Links :

Home

H3C Wins the Bid for Japanese Education Network Construction Project with Cloudnet Solution

TOKYO, Nov. 14, 2020 — A leader in digital solutions, H3C has won the bidding for a networking construction project for Japanese schools. This project is part of the country’s GIGA School initiative launched by Japan’s Ministry of Education, Culture, Sports, Science and Technology (MEXT). The GIGA School initiative aims to provide high-speed and high-capacity communications standards to elementary, middle and high schools nationwide, in a bid to create the best ICT environments for applying the educational ideas of nurturing children’s creativity.

The GIGA School initiative is to improve the ICT environment to drive educational innovations.
The GIGA School initiative is to improve the ICT environment to drive educational innovations.

H3C has been awarded the bid with a comprehensive plan of the latest Wi-Fi 6 products, Power over Ethernet (PoE) switch and Cloudnet solution, strengthening its pledge to provide high-performance wireless networks and intelligent cloud O&M management services. It also aligns to the GIGA School’s plan to connect the schools nationwide to high-speed Internet and high-quality digital learning services, and build high-speed and large-capacity communication environments.

With the deployment of H3C Cloudnet solution, the local education department is enabled to undertake unified management over wired and wireless networks of many schools with only one intelligent cloud O&M management platform. Furthermore, the Cloudnet solution enables users to perform the whole deployment process remotely on APP, which can save much time and costs and improve the efficiency of network management.

H3C will take this project as an opportunity to deploy the Cloudnet solution, a solution converging wired switches and WLAN products and services in the Japanese market. At the same time, to meet diverse needs and improve user experience, the technical team from H3C is optimizing the wireless networking performance applicable for different scenarios. For example, by visualizing the network of devices and systems as health indicators (including states not limited to normal or abnormal), the solution can provide users with more reliable operating information.

Since entering the Japanese market, H3C has been committed to helping move the digital transformation forward with cutting-edge products and services. 

"Adhering to our motto of ‘Shaping the Digital Future for a Better Life’, H3C is consistently innovating and promoting digital economy as an important part of the Japanese market. We will continue to help drive the digitalization of Japan and look forward to contributing to improving the everyday life," said Gary Huang, President of the International Business and Senior Vice President of H3C.

About H3C
H3C is an industry leader in the provision of Digital Solutions and is committed to becoming the most trusted partner of clients in their quest for business innovation and digital transformation. H3C offers a full portfolio of Digital Infrastructure products, spanning across computing, storage, networks, security and related domains. The company also  provides a comprehensive one-stop digital platform that includes cloud computing, big data, interconnectivity, information security, new safety, Internet of Things (IoT), edge computing, artificial intelligence (AI) and 5G solutions, as well as end-to-end technical services.

For more information, please visit H3C official website and social media pages: Facebook; Twitter;
LinkedIn

Related Links :

https://www.h3c.com/en/

Color Star Technology Reports Audited Financial Results for the Fiscal Year Ended June 30, 2020

NEW YORK, Nov. 14, 2020 — Color Star Technology Co., Ltd. (Nasdaq CM: CSCW) (the "Company", or "Color Star"), an entertainment and education company that provides online entertainment performances and online music education services, today announced its audited financial results and the filing of its Annual Report on Form 20-F with the Securities and Exchanges Commission for the fiscal year ended June 30, 2020. A copy of the Annual Report is available at www.sec.gov

"Today’s announcement marks the filing of our Annual Report for the first time since we disposed the ready-mix concrete business and started to reposition the Company as a global, online+offline entertainment and paid knowledge sharing company. Looking ahead, with a continuously growing registered user base which now tops 500,000 and the combination of offline music festivals and online businesses that include online education academy, online concert, and online store, we firmly believe that Color Star is well positioned to succeed in years to come,"  commented Biao (Luke) Lu, Chairman and Chief Executive Officer of Color Star. 

Fiscal Year 2020 Financial Highlights

For the Fiscal Year Ended June 30,

($ millions, except per share data)

2020

2019

% Change

Revenues

$nil

$nil

NA

Loss from operations

($5.16)

($6.66)

22.4%

Net loss

($11.63)

($14.39)

19.2%

Loss per share

($0.99)

($2.46)

59.8%

Financial Conditions

As of June 30, 2020, the Company had cash, cash equivalents of $0.99 million, compared to $0.32 million as of June 30, 2019. Other receivables were $1.00 million as of June 30, 2020, compared to $2,300 as of June 30, 2019. Prepayment and advances were $1.17 million as of June 30, 2020, compared to $25,000 as of June 30, 2019. Working capital was $2.63 million as of June 30, 2020, compared to working capital deficit of $1.14 million as of June 30, 2019.

Net cash used in operating activities was $2.54 million for fiscal year 2020, compared to $1.08 million for fiscal year 2019. Net cash used in investing activities was $1.39 million for fiscal year 2020, compared to $0.14 million for fiscal year 2019. Net cash provided by financing activities was $4.80 million for fiscal year 2020, compared to $0.52 million for fiscal year 2019. 

Recent Developments

On October 30, 2020, the Company announced that it had secured the naming rights for the Wu Muye Piano World Tour, under the name "Color World – Wu Muye Piano World Tour".

On October 25, 2020, the Company officially added online "Star Mall" feature to its Color World App.

On October 16, 2020, the Company announced that it will kick off its "Color World"-branded Music Festival Series in mainland China.

On October 9, 2020, the Company announced the launch of a series of interactive live events featuring its growing band of Star Teachers.

On October 6, 2020, the Company announced that it had signed separate cooperation agreements with three renowned South Korean musicians.

On October 1, 2020, the Company announced that its ordinary shares would commence trading on the NASDAQ Capital Market under the new ticker symbol "CSCW".

On September 28, 2020, the Company announced adding online store feature to its Color World App.

On September 25, 2020, the Company announced upgrading its Color World App with interactive live video streaming feature.

On September 23, 2020, the Company announced that it entered into a memorandum of understanding on September 21, 2020 with FENT Co. Ltd., a South Korean K-pop entertainment and artist agency service company, to acquire 100 percent equity interest in FENT.

On September 16, 2020, the Company announced that it had entered into a securities purchase agreement on September 15, 2020 with certain accredited investors to purchase $6.6 million of its ordinary shares in a registered direct offering and warrants to purchase ordinary shares in a concurrent private placement.

On September 14, 2020, the Company announced the debut of the Color World App.

On September 9, 2020, the Company announced the lineup of its "Fearless, Color World" cloud concert.

On September 4, 2020, the Company announced entry into strategic agreement with China-Korea Culture and Art Exchange Association, expanding its online star education services internationally.

August 28, 2020, the Company announced collaboration with Red Phoenix Entertainment to strategically expand into sports education.

On August 25, 2020, the Company announced cooperation with the Romanian Chamber of Commerce and Industry, expanding its online star education services.

On August 21, 2020, the Company announced press conference to be held in Beijing on September 2, 202 for Color World App

On August 19, 2020, the Company announced that it reached a long-term strategic agreement with Thailand’s "Sing Sian Yer Pao Daily News".

On August 17, 2020, the Company announced that its online star education mobile application platform "Color Star" had successfully completed its testing phase and many international celebrities had joined the platform in advance to create an all-star lineup of entertainment education network.

On August 14, 2020, the Company announced that Hung-Jen Kuo had been named to its Board of Directors.

On August 10, 2020, the Company received a letter from Nasdaq notifying the Company that it had regained compliance with Nasdaq Listing Rules 5550(a)(2), as the Company maintained a closing bid price of $1.00 per share or greater for twenty (20) consecutive days from July 13 through August 7, 2020.

On August 10, 2020, the Company announced that Na Ying joined the Company’s "Fearless, Color World" online concert.

On August 7, 2020, the Company announced that American rapper, singer, songwriter and actor Machine Gun Kelly joined the Company’s "Fearless, Color World" online concert.

On August 5, 2020, the Company announced multi-platinum selling, Grammy and Golden Globe nominated recording artist Wiz Khalifa joined the Company’s "Fearless, Color World" online concert.

On August 4, 2020, the Company announced that Syncopated Ladies, the team of Emmy nominated choreographer and international tap star Chloé Arnold joined the Company’s "Fearless, Color World" online concert as the latest guest and opening dancers.

On August 3, 2020, the Company announced the launch of its official website.

On July 30, 2020, the Company announced that the famous Japanese idol Ryuta Hayashi joined the Company’s "Fearless, Color World" online concert.

On July 28, 2020, the Company announced that its wholly owned subsidiary, Color China Entertainment Limited had signed a Cooperation Agreement with a famous Chinese singer Win (Wei Xun) and an international musician Mike Mclaughlin to serve as Star Teachers on the Company’s online education platform Color World.

On July 27, 2020, the Company announced that the famous Grammy Award Winning American singer Ashanti joined the Company’s "Fearless, Color World" online concert.

On July 24, 2020, the Company announced that its wholly owned subsidiary, Color China Entertainment Limited had signed a Cooperation Framework Agreement with Hong Kong’s renowned tourbillon watch brand Memorigin to jointly design, produce and sell customized watches.

On July 23, 2020, the Company announced its wholly-owned subsidiary Color China Entertainment Limited had entered into cooperation agreements with Xiuzhu Chen, a renowned Asian music producer, and Bowan Wang, a renowned Asian dancer to serve as Star Teachers on the Company’s online education platform Color World.

On July 20, 2020, the Company announced it had entered into a securities purchase agreement with certain accredited investors to purchase approximately $4.2 million worth of its ordinary shares in a registered direct offering and warrants to purchase ordinary shares in a concurrent private placement.

On July 17, 2020, the Company announced the resignation of Yang (Sean) Liu as CEO and chairman of the board of directors and the appointment of Mr. Biao (Luke) Lu as his successor.

On July 17, 2020, the Company announced that its wholly owned subsidiary, Color China Entertainment Limited had entered into a cooperation agreement with Shenzhen Yuren Production Culture Media Co., Ltd. , through which renowned music producers Nianhe Li and Peirong Qiu, and music instructor Muheng Shen serving as Star Teachers on the Company’s online education platform Color World.

On July 15, 2020, the Company announced its "Fearless, Color World" online concert to hold on September 9, 2020.

On July 9, 2020, the Company announced that its wholly owned subsidiary, Color China Entertainment Limited had signed a Framework Agreement with Moremoon Cartoon Cultural Diffusion (Shenzhen) Co., Ltd. to release multiple series of Moremoon products on the Company’s Color World platform.

On July 7, 2020, the Company announced that its wholly owned subsidiary, Color China Entertainment Limited had signed a cooperation agreement with a renowned American musician, Larry Carlton to serve as a Star Teacher on the Company’s online education platform Color World.

On July 2, 2020, the Company announced that its wholly owned subsidiary, Color China Entertainment Limited had just signed a cooperation agreement with a renowned guitarist, Zhengyan You (a.k.a. Masa) to serve as a Star Teacher on the Company’s online education platform Color World.

On July 1, 2020, the Company announced that its wholly owned subsidiary, Color China Entertainment Limited had signed a Broadcast and Educational Licensing Agreement with the famous American director Bobby Roth.

About Color Star Technology

Color Star Technology Co, Ltd. (Nasdaq CM: CSCW) is an entertainment and education company that provides online entertainment performances and online music education services. Its business operations are conducted through its wholly-owned subsidiaries Color China Entertainment Ltd. and CACM Group NY, Inc. The Company’s online education is provided through its Color World music and entertainment education platform. More information about the Company can be found at www.colorstarinternational.com.

Forward-Looking Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements.  Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following:  the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market in China and other countries where CSCW conducts its business; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission.  For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof unless required by applicable laws, regulations or rules.

For more information, please contact:

Sherry Zheng
Weitian Group LLC 
Email: shunyu.zheng@weitian-ir.com
Phone: +1-718-213-7386

 

COLOR STAR TECHNOLOGY CO., LTD. AND SUBSIDIARIES

(FORMERLY KNOWN AS HUITAO TECHNOLOGY CO., INC.)

CONSOLIDATED BALANCE SHEETS

June 30,

June 30,

2020

2019

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

988,696

$

319,514

Other receivables

1,002,300

2,300

Prepayments and advances

1,170,000

25,000

Current assets of discontinued operations

52,158,699

Total current assets

3,160,996

52,505,513

OTHER ASSETS

Property, plant and equipment, net

3,958,335

Other assets of discontinued operations

1,659,520

Total other assets

3,958,335

1,659,520

Total assets

$

7,119,331

$

54,165,033

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:

Other payables and accrued liabilities

$

518,122

$

353,292

Other payables – related parties

10,711

540,000

Loans payable – employee

308,089

Current liabilities of discontinued operations

52,442,854

Total current liabilities

528,833

53,644,235

Total liabilities

528,833

53,644,235

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS’ EQUITY:

Preferred shares, $0.001 par value, 1,000,000 shares authorized, no shares issued or

outstanding

Ordinary shares, $0.001 par value, 74,000,000 shares authorized, 25,623,822 and

7,174,626 shares issued and outstanding as of June 30, 2020 and 2019, respectively

25,624

7,175

Additional paid-in-capital

69,689,789

54,237,082

Deferred stock compensation

(1,201,183)

(3,161,200)

Deficit

(61,923,732)

(64,031,446)

Statutory reserves

6,248,092

Accumulated other comprehensive income

7,221,095

Total shareholders’ equity

6,590,498

520,798

Total liabilities and shareholders’ equity

$

7,119,331

$

54,165,033

 

COLOR STAR TECHNOLOGY CO., LTD. AND SUBSIDIARIES

(FORMERLY KNOWN AS HUITAO TECHNOLOGY CO., INC.)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

For the Years ended June 30,

2020

2019

2018

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

$

(1,598,984)

$

(2,065,829)

$

(918,605)

RESEARCH AND DEVELOPMENT EXPENSES

(120,000)

STOCK COMPENSATION EXPENSE

(3,444,617)

(4,592,200)

(1,388,501)

LOSS FROM OPERATIONS

(5,163,601)

(6,658,029)

(2,307,106)

OTHER INCOME (EXPENSE), NET

Interest income

84

13

Finance expense

(5,041)

(1,477)

(26)

TOTAL OTHER EXPENSE, NET

(5,041)

(1,393)

(13)

LOSS BEFORE PROVISION FOR INCOME TAXES

(5,168,642)

(6,659,422)

(2,307,119)

PROVISION FOR INCOME TAXES

LOSS FROM CONTINUING OPERATIONS

(5,168,642)

(6,659,422)

(2,307,119)

DISCONTINUED OPERATIONS:

Loss from discontinued operations, net of applicable income taxes

(12,245,168)

(7,729,108)

(5,092,846)

Net gain on sale of discontinued operations, net of applicable income

 taxes

5,787,213

LOSS FROM DISCONTINUED OPERATIONS

(6,457,955)

(7,729,108)

(5,092,846)

NET LOSS

$

(11,626,597)

$

(14,388,530)

$

(7,399,965)

COMPREHENSIVE LOSS

Net loss

$

(11,626,597)

$

(14,388,530)

$

(7,399,965)

Other comprehensive (loss) income – foreign currency translation (loss) gain

(335,080)

347,097

COMPREHENSIVE LOSS

$

(11,626,597)

$

(14,723,610)

$

(7,052,868)

LOSS PER ORDINARY SHARE

Weighted average number of shares:

Basic

11,640,018

5,841,614

2,942,945

Diluted

11,640,018

5,841,614

2,942,945

Loss per share – basic and diluted

Continuing operations

$

(0.44)

$

(1.14)

$

(0.78)

Discontinued operations

$

(0.55)

$

(1.32)

$

(1.73)

Total

$

(0.99)

$

(2.46)

$

(2.51)

 

COLOR STAR TECHNOLOGY CO., LTD. AND SUBSIDIARIES

(FORMERLY KNOWN AS HUITAO TECHNOLOGY CO., INC.)

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the years ended June 30,

2020

2019

2018

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$

(11,626,597)

$

(14,388,530)

$

(7,399,965)

Net loss from discontinued operations

(6,457,955)

(7,729,108)

(5,092,846)

Net loss from continuing operations

(5,168,642)

(6,659,422)

(2,307,119)

Adjustments to reconcile net loss to net cash (used in) provided by

operating activities:

Stock compensation expense

3,444,617

4,592,200

1,388,501

Changes in operating assets and liabilities

Other receivables

(2,300)

Prepayments and advances

(1,145,000)

15,458

(40,458)

Other payables and accrued liabilities

130,036

509,381

2,000

Other payables – related parties

540,000

720,000

Net cash used in operating activities from continuing operations

(2,738,989)

(1,002,383)

(239,376)

Net cash provided by (used in) operating activities from

discontinued operations

203,854

(73,759)

2,689,394

Net cash (used in) provided by operating activities

(2,535,135)

(1,076,142)

2,450,018

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchase of equipment

(2,000,000)

Cash acquired through acquisition of Color China

5,272

Proceeds from sales of discontinued operations

600,000

Net cash used in investing activities from continuing operations

(1,394,728)

Net cash used in investing activities from discontinued operations

(135,705)

(138,151)

Net cash used in investing activities

(1,394,728)

(135,705)

(138,151)

CASH FLOWS FROM FINANCING ACTIVITIES:

Borrowings from shareholders

300,000

Proceeds from sale of ordinary shares, net of offering costs

4,502,901

950,000

600,000

Net cash provided by financing activities from continuing operations

4,802,901

950,000

600,000

Net cash used in financing activities from discontinued operations

(7,294)

(427,333)

(6,395,823)

Net cash provided by (used in) financing activities

4,795,607

522,667

(5,795,823)

EFFECTS OF EXCHANGE RATE CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH

(1,943)

(62,025)

149,203

NET CHANGE IN CASH, CASH EQUIVALENTS AND

RESTRICTED CASH

863,801

(751,205)

(3,334,753)

CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of year

347,486

1,098,691

4,433,444

CASH AND CASH EQUIVALENTS, end of year

$

1,211,287

$

347,486

$

1,098,691

 

 

Netmarble Issues Fiscal and Earnings Results for the Third Quarter of 2020

Q3 Performance Remains Steady Thanks to Strong Interest from Overseas Players

LOS ANGELES, Nov. 14, 2020Netmarble Corp., a global mobile game company focused on creating entertaining gaming experiences for players of all ages, revealed their financial results for the third quarter of 2020.

"We continue to see strong results at the end of our third quarter with significant overseas sales coming from our line-up of existing games," said Seungwon Lee, Co-CEO of Netmarble. "We have positive expectations for the recent global launch of A3: STILL ALIVE, our upcoming regional launch of Seven Knights 2, and Kabam’s upcoming release of MARVEL Realm of Champions."

"We’re looking forward to what 2021 will bring as we continue to deliver an exciting slate of new games next year, including Ni No Kuni: Cross Worlds, Seven Knights Revolution, and MARVEL Future Revolution," said Lee. "Thanks to our new partnership with the NBA and NBPA, we are committed to the continued growth of our portfolio through genre expansion".

Selected highlights from Netmarble’s third quarter include:

  • $535 million in total sales, $73 million in operating profit, and a net profit of $77 million from July through September. Cumulative sales for 2020 are estimated at $1.55 billion, with an operating profit of $158 million.
  • Total sales increased by 3.6% year-over-year and decreased by 6.3% quarter-on-quarter. Operating profit increased 3.6% year-over-year and 7% quarter-on-quarter.
  • Net profit increased by 9.2% year-over-year and 8.6% quarter-on-quarter.
  • Overseas sales accounted for 75% ($399 million) of overall sales in the third quarter. This follows Netmarble’s second quarter which offered the highest figure of overseas sales, and continues to follow an increasing trend in global sales thanks to the worldwide success of titles such The Seven Deadly Sins: Grand Cross (17% of revenue earned), MARVEL Contest of Champions (15% of revenue earned) (Kabam), Lineage 2: Revolution (9% of revenue earned) and Blade&Soul Revolution (8% of revenue earned).
  • Genre portfolio showed diversification across RPG (40%), Casual (25%), MMORPG (23%), and others (12%).

A breakdown of the total financial earnings is below:

7/1/20-9/30/20 actuals

YoY Changes

QoQ Changes

Total Sales

$535 million

+3.6%

-6.3%

Operating Profit

$73 million

+3.6%

+7.0%

Net Profit

$77 million

+9.2%

+8.6%

For details on Netmarble’s quarterly performance, and to listen to the earnings call, please visit the company’s Investor Relations page to learn more.

About Netmarble Corporation

Established in Korea in 2000, Netmarble Corporation is a top developer and publisher pushing the boundaries of the mobile gaming experience with highly innovative games including Lineage 2: Revolution, The Seven Deadly Sins: Grand Cross, Blade&Soul Revolution and MARVEL Future Fight. As a parent company of Kabam, and a major shareholder of Jam City and Big Hit Entertainment, Netmarble strives to entertain audiences around the world with a variety of mobile games based on its powerful franchises and collaborations with IP holders worldwide. More information can be found at http://company.netmarble.com

North America

Netmarble US
Chastity Irizarry
chastity.irizarry@netmarble.com

Rogers & Cowan PMK (for Netmarble in US)
Steven Kunz
netmarble@rogersandcowanpmk.com

Korea (Seoul)

HQ PR Team
Yonsol Chung
globalpr-g@netmarble.com  

Related Links :

http://company.netmarble.com