Color Star Technology Co. Ltd., (CSCW) is a company primarily focused on entertainment and education. It is the provider of digital entertainment and music education services. The company’s digital education is provided by its Color World music and entertainment educational system.
The price of CSCW stock during regular trading on March 1, 2022, was $0.23 with a minute decline of 2.62%. At last check in the premarket on March 2, 2022, the stock declined by 1.30%.
CSCW: Events and Happenings
On March 1, 2022, CSCW reported that one of the luxury women’s watches French brand ‘Galtiscopio Gatti’ had formally entered the company’s metaverse portfolio. The company will support the online marketing of the brand along with helping it grab the new market prospects presented by the metaverse. On February 25, 2022, CSCW updated on its entry into a sponsorship contract with Villareal CF, which is the European soccer powerhouse. Both the companies together embarked hand in hand on a football ride.
On February 24, 2022, CSCW announced the completion of its registered direct offering for the acquisition and sale of 25,000,000 ordinary shares and warrants (making a unit). The acquisition price was $0.4 per unit. The net proceeds from the sale of the securities were around $10.0 million. The warrants are exercisable at a per-share price of $0.4. The gross proceeds from the offering will be utilized for general corporate purposes.
On February 23, 2022, CSCW informed the press that ‘Unbounded Human’, an Asian trendy clothing brand had entered CSCW. It is the initial Asian high-end clothing brand to land on the company’s platform. On February 18, 2022, CSCW updated on its co-operation with Jilin Great World Aviation Service Co., Ltd. for the introduction of enterprises to the company’s APP. The main goal of the company is to set up a virtual ticketing hall along with carrying virtual collaboration in business hotels and tourism.
On February 16, 2022, CSCW reported that its entertainment metaverse software is available on Android App Store for download.
CSCW: Key Financials
On November 2, 2021, CSCW released its full fiscal year financial outcomes for the year ended June 30, 2021. Some of the important features are mentioned below.
Revenue
Revenue during the full year of 2021 was observed to be $6.8 million versus no revenue in the fiscal year 2020. The company observed a 100% increase in its revenue year-over-year.
EPS
Basic and diluted net loss in fiscal 2021 was $8.23 million or $0.12 per share in comparison to $11.6 million or $0.99 per share in the same period of 2020. The company recorded an incline in its EPS over the year.
Conclusion
CSCW stock down-performed by 78% in the last six months as the companies were facing extreme recession in the pandemic. The current premarket fall in the stock price is the outcome of the announcement of the entry of a French luxury brand into the company’s portfolio.
