UNITED STATES
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 21, 2021 (April 21, 2021)
VALUE EXCHANGE INTERNATIONAL, INC.
(Exact name of Registrant as specified in its charter)
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Nevada |
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000-53537 |
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26-3767331 |
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(State or other jurisdiction |
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(Commission File Number) |
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(IRS Employer |
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of Incorporation) |
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Identification Number) |
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Unit 602, Block B, 6 Floor, |
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Shatin Industrial Centre, 5-7 Yuen Shun Circuit, |
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Shatin, N.T., Hong Kong |
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(Address of principal executive offices) (Zip Code) |
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(852) 2950 4288 |
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(Registrant’s telephone number, including area code) |
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Not applicable |
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(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 (17 CFR 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. [ ]
Securities registered pursuant to Section 12(b) of the Act:
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Title of Each Class |
Trading Symbol |
Exchange on which registered |
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NONE |
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Item 7.01 Regulation FD Disclosure
On April 21, 2021, Value Exchange International, Inc., a Nevada corporation, (“Company”) issued a press release, which is attached to this Current Report on Form 8-K.
Information contained in herein, including Exhibit 99.1 to this Current Report on Form 8-K, shall not be deemed filed for the purposes of the Securities Exchange Act of 1934, nor shall such information and Exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.Description
99.1Press Release, dated April 21, 2021, issued by Value Exchange International, Inc.
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.
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VALUE EXCHANGE INTERNATIONAL, INC. |
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By: /s/ Kenneth Tan |
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Name: Kenneth Tan |
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Title: Chief Executive Officer |
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Date: April 21, 2021 |
EXHIBIT INDEX
Exhibit No.Description
99.1Press Release, dated April 21, 2021, issued by Value Exchange International, Inc.
Exhibit 99.1
PRESS RELEASE
FOR IMMEDIATE RELEASE
VALUE EXCHANGE INTERNATIONAL, INC DECLARES FIRST CASH DIVIDEND
and
ANNOUNCES PILOT PROGRAM TO INSTALL SMART VENDING MACHINES (“SVMS”) FOR MAJOR CHINESE GAS STATION CHAIN
Hong Kong SAR - BUSINESSWIRE, April 21, 2021 – Value Exchange International, Inc. (OTCQB: VEII) announced today that: (1) its Board of Directors has declared a one-time cash dividend of $0.005 per share of Common Stock. The Company's dividend is payable to shareholders of record on April 16, 2021, and is expected to be paid on May 15, 2021. This is the first cash dividend paid to holders of the Common Stock; and (2) Company has been selected for a pilot program to install SVMs in select stores of a major Chinese gas station chain. If the pilot program is successful, Company would install SVMs in other to-be-determined gas stations.
“As reported in our Annual Report for Fiscal Year 2020, we experienced a 147% increase in gross revenues in FY2020 compared to FY2019 revenues. We are focused on improving net income and margins as goals for FY2021, especially by exploring an expansion of our customer base and new technology offerings. The pilot program to install SVMs in a major Chinese gas station chain with 10,000+ stores is just one example of our new growth initiatives.” Installation of SVM’s in the chain is subject to successful pilot program,” said Kenneth Tan, Chief Executive Officer of Company.
About Value Exchange: Company is a U.S. public holding company headquartered in Hong Kong, with offices in Shenzhen, Guangzhou, Shanghai, and Beijing China, Manila and Kuala Lumpur. Company provides integrating, market-leading Point-of-Sale/Point-of-Interaction (POS/POI), Merchandising, CRM & Reward, Locational Based (GPS & Indoor Positioning System (IPS)) Marketing, Customer Analytics, and Business Intelligence solutions. Company’s retail POS solutions process tens of millions of transactions per year at approximately 20,000 retail outlets in Asia.
Forward Looking Statements. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act relating to Company dividends, financial results and SVM pilot program. There can be no assurance that future dividends will be declared. There is no assurance of any future declaration of dividends. The declaration of future dividends is subject to approval of our Board of Directors after its review of financial performance and cash needs. Declaration of future dividends is also subject to various risks and uncertainties, including: cash flow and cash needs; compliance with applicable law; restrictions on the payment of dividends under existing or future financing arrangements; changes in tax laws relating to corporate dividends; the deterioration in our financial condition or results, and those risks, uncertainties, and other factors identified from time-to-time in Company filings with the Securities and Exchange Commission. The pilot program for SVMs may not result in orders for SVMs and, even if the pilot program, there is no assurance about the number of SVMs that may be ordered or if the SVMs program would be profitable. Pilot programs are not indicative and do not portend future growth in business. Financial results in one fiscal year are not indicative of future results. URL’s are not incorporated herein.
Value Exchange IR Contact:
Johan Pehrson
Email: ir@value-exch.com
www.value-exch.com
(852) 2950 4288