QMMM Holdings Ltd. (QMMM) Plans to Raise $8 Million in June 24th IPO

QMMM Holdings Ltd. (QMMM) expects to raise $8 million in an initial public offering (IPO) on the week of June 24th, IPO Scoop reports. The company plans to issue 2,100,000 shares at a price of $4.00 per share.

In the last year, QMMM Holdings Ltd. generated $2.8 million in revenue and had a net loss of $1.3 million. The company has a market cap of $68.5 million.

Revere Securities served as the underwriter for the IPO.

QMMM Holdings Ltd. provided the following description of their company for its IPO: “We are the holding company for an award-winning digital media advertising service, virtual avatar and virtual apparel technology service company whose operating subsidiaries are based in Hong Kong. (Incorporated in the Cayman Islands)  We are an award-winning digital media advertising service and virtual avatar & virtual apparel technology service company. Through our operating subsidiaries ManyMany Creations and Quantum Matrix, we have used interactive design, animation, art-tech and virtual technologies in over 500 commercial campaigns. We have worked with large domestic and international banks, real estate developers, world famous amusement park, top international athletic apparel and footwear brands and luxury cosmetic products and international brands for their advertising and creation work in Hong Kong. Standing prominently in Hong Kong for over 18 years in the industry, with top creativity, premium account servicing, and ever-advancing tech R&D, we continue to be one of the top premium choices for enterprises and multinational enterprises looking for large scale content-heavy and tech-integrated campaigns. Our clients include local and international banks, real-estate developers, luxury brands, high fashion houses, and theme parks. Our subsidiary ManyMany Creations has stood out in the industry by breaking through traditional forms of advertising through digital technology. We endeavour to integrate quality concepts with creative digital media technology and provide a one-stop shop for content creativity and production for ad campaigns, TV commercials, online video, 360 video and animation, VR/AR/MR technology, 3D scanning, motion capture, projection mapping and digital façade production. In March 2014, our wholly owned subsidiary Quantum Matrix, was incorporated, and it has launched digital avatar “Quantum Human” and “Quantum Fit” solutions, which we believe is the world’s only avatar technology for mass adoption of virtual identity. Quantum Matrix has created over 30,000 digital avatars. Quantum Matrix owns two patents in Hong Kong, providing among the world’s leading automated avatar creation as well as real-time auto-fitting for virtual fashion & apparel. The first patent is for our method of converting a three-dimensional (3D) scanned object to an avatar. The method contains the steps of conducting a 3D segmentation of the 3D scanned object to obtain segmented results; and adapting a first template to the segmented results to create an avatar. The first template includes a topology, and the adapting step contains the step of mapping the topology of the first template to the segmented results to create the avatar. The invention provides an automated process which requires virtually no human intervention to convert the 3D scanned object to the avatar. The second patent is for our method of automatically fitting an accessory object to an avatar. The method contains the steps of providing an avatar; providing an accessory object; providing a template which the accessory object does not penetrate and fitting the accessory object to the avatar as a result of the template fitted to the avatar. The invention provides an automated process which requires virtually no human intervention to fit an accessory object (e.g. a garment) to the avatar. These technologies are applied in commercial events, theme-parks, fashion shows, luxury events, entertainment industry, travel-retail, tech platform, among others. In addition, our technologies further provide a strong foundation to develop platforms for social media, entertainment, virtual self-expression, virtual influencers, tradable and sharable digital assets for consumers and creators. Note: Net loss and revenue are in U.S. dollars for the year that ended Sept. 30, 2023. (Note: QMMM Holdings Ltd. is offering 2.13 million ordinary shares (2,125,000 Ordinary Shares) at $4.00 to raise $8.5 million, according to its F-1/A filing dated May 20, 2024. Background: QMMM Holdings filed its F-1 on Oct. 6, 2023. The company submitted its confidential IPO filing to the U.S. Securities and Exchange Commission on June 23, 2023.) “.

QMMM Holdings Ltd. was founded in 2005 and has 28 employees. The company is located at Unit 1301, Block C, Sea View Estate, 8 Watson Road Tin Hau, Hong Kong and can be reached via phone at + (852) 3549-6889 or on the web at http://www.qmmm.io/.

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