Luokung Technology Corp (NASDAQ: LKCO) stock recently listed its Ordinary Shares on NASDAQ, was effective from the opening of trading on January 3rd, 2019. Previously, the company had voluntary delisted its ADRs from the NASDAQ, which was effective prior to the opening of trading on September 20, 2018. This was in expectation of the listing of the Ordinary Shares of the Company. The ratio between each ADR and its underlying Ordinary Share is 1:1. The company had also announced a reminder to the owners and holders of the company’s ADRs to convert into Ordinary Shares of the company.

On the other hand, LKCO has signed a Securities Purchase Agreement (the “Agreement”) with Honbridge Holdings Limited, a Cayman Islands corporation (the “Purchaser”) on January 16, 2019. As per the agreement, the company agrees to sell, and the Purchaser agrees to purchase, 2,000,000 shares of Ordinary Shares of the Company at a price of $6 per share for a total amount of $12,000,000 (the “Subscription Amount”). After receiving 50% of the Purchaser’s Subscription Amount, (the “Initial Subscription Amount”), the company shall deliver the 1,000,000 shares of Ordinary Shares of the Company (the “Initial Shares”) to the Purchaser (the “Initial Closing Date”).

Meanwhile, LKCO has announced its strategic cooperation with the National Engineering Research Center for Remote Sensing Applications (“the Engineering Center”), which is China’s national level center of scientific research and development, technological innovation and industrialization in the area of remote sensing application. The two parties have planned to jointly establish a national level “Spatial-temporal Data Research Center” which will allow the parties to access synergies and complementary advantages and achieve further development in the spatial temporal data industry. Both parties are expected to cooperate fully and closely to establish the One-Stop application platform for national remote sensing big data. Both parties are expected to cooperate fully and closely in the domain of spatial-temporal data with respect to their industry resources and R&D achievements in order to build the remote sensing big data application platform to fulfill the market needs. Further, the two parties will, in collaboration with distribution channels across the nation of high-resolution satellites’ remote sensing data, plans to build the industrialized remote sensing cloud service platform, which provides services on combining remote sensing data and subject-information, analytical and processing software, storage and computing equipment, and business application software.