RDGTGeneral
Ridgetech, Inc. Announces 1-for-150 Reverse Share Split
Ridgetech, Inc. has announced a 1-for-150 reverse share split, which will take effect on April 7, 2026. This action intends to reduce the number of outstanding shares from approximately 134.8 million to about 898,906 shares. The reverse split is expected to help improve liquidity and trading of the company's shares on the Nasdaq Capital Market. All current shareholders' percentage interests will remain unchanged, although fractional shares will be rounded up.
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Shareholders of Ridgeline International Limited. Opinion on the Consolidated Financial Statements We have audited the accompanying con
Ridgeline International Limited has released its consolidated financial statements for the year ended March 31, 2024, which were audited by an independent firm. The reports indicate that the company has achieved a net income of $167,438 and total revenues of $78,360,705. The audit confirmed that the financial statements accurately reflect the company's financial position and comply with U.S. GAAP. Additionally, the financials reveal significant current liabilities primarily due to accounts payable.
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RIDGETECH, INC. 5th Floor, Building 6, No. 100, 18th Street, Baiyang Sub-district Qiantang District, Hangzhou City, Zhejiang Province, P. R. China, 310008 Telephone: +86-571-88219579 NOTICE OF ANNUAL GENERAL MEETING OF S
Ridgetech, Inc. has announced its Annual General Meeting of shareholders scheduled for December 12, 2025. The meeting will address various corporate matters requiring shareholder votes, including proposals related to shareholder consolidation and maintaining compliance with Nasdaq's listing requirements. Shareholders are encouraged to participate either in person or by proxy, and details of the meeting will be provided in a proxy statement. The meeting's location will be at Ridgetech's headquarters in Hangzhou, China.
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Ridgetech, Inc. Reports Fiscal Year 2025 Financial Results
Ridgetech, Inc. reported its financial results for the fiscal year ending March 31, 2025, indicating stable revenues of approximately $120 million despite a 3.2% decrease from the previous year. Significant transformations included divesting its retail pharmacy business and acquiring Allright, which introduces new revenue opportunities through both online and offline channels. While gross profit saw a notable decline and the company recorded a loss from operations, increased investments in sales and marketing suggest a strategy aimed at long-term growth. Looking ahead, Ridgetech believes its recent changes position it better for sustainable financial performance.
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CHINA JO-JO DRUGSTORES, INC. 4 th Floor, Building 5, Renxin Yaju, Gong Shu District Hangzhou City, Zhejiang Province, P. R. China, 310014 Telephone: +86-571-88219579 NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDER
China Jo-Jo Drugstores, Inc. has announced an Annual General Meeting for shareholders scheduled for February 25, 2025. Key agenda items include a divestiture and acquisition proposals, a proposed name change to Ridgetech, Inc., and the election of new directors. The meeting will address significant changes to the company's structure and share capital, which may impact shareholder value and company operations.
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China Jo-Jo Drugstores Announces Strategic Business Restructuring to Strengthen Wholesale Business for Greater Profitability and Growth
China Jo-Jo Drugstores, Inc. announced a strategic restructuring aimed at becoming a more efficient, wholesale-focused company. The restructuring includes two major transactions expected to close in the first quarter of 2025, pending shareholder approval. Frank Zhao, the current CFO, will serve as interim CEO following the departures of current board members. The restructuring aims to streamline operations and boost profitability by transitioning away from high-cost retail operations.
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China Jo-Jo Drugstores Reports Fiscal Year 2024 Financial Results
China Jo-Jo Drugstores reported its fiscal year 2024 financial results, showcasing a 3.8% increase in revenue to $154.54 million. The wholesale segment significantly contributed to growth with a 42.1% increase, while both retail drugstores and online pharmacy revenues declined. Despite a notable reduction in operational losses, gross profit fell by 9.3%, indicating challenges in maintaining profitability. The company plans to pursue additional growth opportunities while facing heightened competition in the market.
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China Jo-Jo Drugstores Announces $3.37 Million Registered Direct Offering
China Jo-Jo Drugstores has announced a registered direct offering of 1,980,000 ordinary shares at a price of $1.70 per share, aiming to raise approximately $3.37 million. The offering is expected to close around June 26, 2024, pending customary closing conditions. The proceeds will be used for general corporate purposes and working capital, enhancing the company's operational capabilities. This move follows a previous effective registration statement declared by the SEC in December 2022.
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China Jo-Jo Drugstores Announces Changes to Board of Directors
China Jo-Jo Drugstores, Inc. has announced the resignation of board member Ms. Pingfan Wu effective May 31, 2024. Her resignation is due to personal reasons and is not the result of any disagreements with the company's operations or practices. The company continues to operate as a prominent retailer and distributor in China's healthcare sector.
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China Jo-Jo Drugstores Announces $2.74 Million Registered Direct Offering
China Jo-Jo Drugstores, Inc. announced a registered direct offering to issue 1.61 million ordinary shares at $1.70 per share, aiming for gross proceeds of around $2.74 million. The closing of this transaction is anticipated on or about May 17, 2024, subject to customary conditions. The company plans to utilize the net proceeds generally for corporate purposes and to enhance its working capital.
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China Jo-Jo Drugstores Announces $1.53 Million Registered Direct Offering
China Jo-Jo Drugstores, Inc. has announced a registered direct offering to issue 0.9 million ordinary shares at a price of $1.70 per share, aiming for total proceeds of approximately $1.53 million. The closing of this offering is expected on April 30, 2024, pending customary closing conditions. The company intends to utilize the net proceeds for general corporate purposes and working capital. This offering is conducted under an effective registration statement with the U.S. SEC, indicating regulatory compliance.
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China Jo-Jo Drugstores Regains Compliance with Nasdaq Minimum Bid Price Requirement
China Jo-Jo Drugstores has announced that it has regained compliance with the Nasdaq Capital Market's minimum bid price requirement after previously struggling to maintain a share price of $1.00. Following a reverse stock split on March 1, 2024, the company achieved the necessary closing bid price for 10 consecutive business days. As of March 14, 2024, it received confirmation from Nasdaq that its shares met the compliance criteria, effectively closing the matter. This achievement is significant for the company's standing on the stock market, allowing it to continue its operations without compliance-related concerns.
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China Jo-Jo Drugstores, Inc. Announces 1-for-20 Reverse Stock Split
China Jo-Jo Drugstores, Inc. will implement a 1-for-20 reverse stock split effective March 1, 2024. This change means that every 20 shares will be converted into one ordinary share, adjusting the par value accordingly. The reverse stock split is intended to maintain compliance with Nasdaq listing standards and will not affect shareholders' overall percentage of ownership. Trading on a split-adjusted basis will begin on the same date, while the company continues its operations as a retailer and wholesale distributor of healthcare products in China.
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CHINA JO-JO DRUGSTORES, INC. Hai Wai Hai Tongxin Mansion Floor 6 Gong Shu District, Hangzhou City Zhejiang Province P. R. China, 310008 Telephone: +86-571-88219579 NOTICE OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS
China Jo-Jo Drugstores, Inc. has called an Extraordinary General Meeting for February 22, 2024, to ratify several key proposals previously approved at the 2023 Annual Meeting. These include the election of directors, the re-appointment of independent auditors, and a proposed reverse stock split. The company aims to ensure the validity of the previously passed proposals amidst allegations regarding the timely receipt of meeting materials by some shareholders. Shareholders are encouraged to participate and vote via proxy for an effective corporate governance process.
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China Jo-Jo Drugstores Granted A Second Extension to Meet Nasdaq Minimum Bid Price Requirement
China Jo-Jo Drugstores has been granted a 180-day extension by Nasdaq to meet the minimum bid price requirement, which is essential for its continued listing. The new deadline for compliance is June 10, 2024. The company plans to address the deficiency through potential actions such as a reverse stock split. This extension offers the opportunity for the company to stabilize its share price and avoid delisting.
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CHINA JO-JO DRUGSTORES, INC. Hai Wai Hai Tongxin Mansion Floor 6 Gong Shu District, Hangzhou City Zhejiang Province P. R. China, 310008 Telephone: +86-571-88219579
China Jo-Jo Drugstores, Inc. is set to hold its Annual General Meeting on November 16, 2023, to discuss essential matters for the fiscal year ended March 31, 2023. Shareholders will vote on the election of six directors, the appointment of an independent accounting firm, and a proposed reverse stock split. The meeting emphasizes the importance of shareholder participation, with provisions for voting via proxies. Comprehensive details are available in the accompanying proxy statement and annual report.
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China Jo-Jo Drugstores Announces $2.59 Million Registered Direct Offering
China Jo-Jo Drugstores, Inc. has announced a registered direct offering of approximately $2.59 million with the issuance of 9.96 million ordinary shares at $0.26 each. The offering also includes warrants for investors to purchase up to 19.92 million additional shares. The proceeds will be utilized for general corporate purposes and working capital, and the closing of the offering is expected on or around September 28, 2023, pending customary closing conditions. This funding effort reflects the company's strategy to support its business operations.
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China Jo-Jo Drugstores Announced Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency
China Jo-Jo Drugstores, Inc. has received a notification from Nasdaq indicating that it is not in compliance with the minimum bid price requirement, having a closing bid price below $1.00 for 30 consecutive trading days. The company has until December 12, 2023, to regain compliance, during which its ordinary shares will continue to trade on the Nasdaq Capital Market. If the stock price meets the $1.00 threshold for at least 10 consecutive business days, compliance will be restored. If not, further options will be considered by the Board of Directors to address the issue.
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China Jo-Jo Drugstores Reports Fiscal Year 2023 Financial Results
China Jo-Jo Drugstores reported its financial results for the fiscal year ending March 31, 2023, revealing a revenue decline of 9.5% to $148.81 million. The company experienced significant losses, with a net loss of $21.14 million compared to $3.20 million in the prior year. Despite some operational efficiencies reflected in increased gross margins, the overall financial performance shows challenges, particularly in the wholesale segment, which saw a substantial revenue drop. Moving forward, Jo-Jo Drugstores intends to expand its strategic initiatives and enhance its brand recognition in the healthcare market.
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China Jo-Jo Drugstores Announces $2.625 Million Registered Direct Offering
China Jo-Jo Drugstores, Inc. has announced a registered direct offering to issue 1.75 million ordinary shares priced at $1.50 each, expecting to raise approximately $2.625 million. The company also plans to issue warrants to purchase up to 5.25 million additional shares at $2.50 each. The proceeds will be utilized for general corporate purposes and working capital. This offering is contingent upon the satisfaction of customary closing conditions and is slated to close on January 24, 2023.
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SECURITIES PURCHASE AGREEMENT This SECURITIES PURCHASE AGREEMENT (the " Agreement ") is made as of
SECURITIES PURCHASE AGREEMENT
This SECURITIES PURCHASE AGREEMENT
(the "Agreement") is made as of October 6, 2022 by and among China Jo-Jo Drugstores, Inc., a Cayman Islands exempted
company (the "Company"), and the purchasers listed on Schedule A hereto (the "Schedule of Purch
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China Jo-Jo Drugstores Reports Fiscal Year 2022 Financial Results
China Jo-Jo Drugstores Reports Fiscal Year 2022
HANGZHOU, China, July 28, 2022 /PRNewswire/ --
China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) ("Jo-Jo Drugstores" or the "Company"), a leading online
and offline retailer, wholesale distributor of pharmaceutical and other healthcare
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China Jo-Jo Drugstores, Inc. Announces 1-for-12 Reverse Stock Split
China Jo-Jo Drugstores, Inc. Announces 1-for-12
HANGZHOU, China, April
6, 2022 /PRNewswire/ - China Jo-Jo Drugstores, Inc. ("Jo-Jo Drugstores" or the "Company")
(Nasdaq: CJJD), a Cayman Islands company, reported that it expects to implement a 1-for-12 reverse stock split on it
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to the Report on Form 6-K filed by China Jo-Jo Drugstores, Inc. on
CHINA JO-JO DRUGSTORES, INC.
Hai Wai Hai Tongxin Mansion, Floor 6,
Gong Shu District, Hangzhou City, Zhejiang Province,
NOTICE OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS
To be held on March 18, 2022 at 8:00 p.m. (Local
(or any adjournment or postponement thereof)
To t
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China Jo-Jo Drugstores Granted Extension to Meet Nasdaq Minimum Bid Price Requirement HANGZHOU, China, January 26 , 2022 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) ( Jo-Jo Drugstores or the Company ), a
China Jo-Jo Drugstores Granted Extension to Meet
Nasdaq Minimum Bid Price Requirement
HANGZHOU, China, January 26,
2022 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) ("Jo-Jo Drugstores" or the "Company"),
a leading online and offline retailer, wholesale distribu
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China Jo-Jo Drugstores Reports First Half of Fiscal Year 2022 Financial Results
China Jo-Jo Drugstores Reports First Half of
Fiscal Year 2022 Financial Results
HANGZHOU, China, January 21, 2022 /PRNewswire/
-- China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) ("Jo-Jo Drugstores" or the "Company"), a leading
online and offline retailer, wholesale distributor of
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CHINA JO-JO DRUGSTORES, INC. Hai Wai Hai Tongxin Mansion Floor 6 Gong Shu District, Hangzhou City Zhejiang Province P. R. China, 310008 Telephone: +86-571-88219579 NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS TO BE H
CHINA JO-JO DRUGSTORES, INC.
Hai Wai Hai Tongxin Mansion Floor 6
Gong Shu District, Hangzhou City
Telephone: +86-571-88219579
NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS
TO BE HELD ON JANUARY 25, 2022
TO THE SHAREHOLDERS OF CHINA JO-JO DRUGSTORES, INC.:
The Annual Gen
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China Jo-Jo Drugstores Completes Redomiciliation Merger
China Jo-Jo Drugstores Completes Redomiciliation
HANGZHOU, China, July 30, 2021 /PRNewswire/ -
China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) ("Jo-Jo Drugstores" or the "Company"), a leading online and offline
retailer, wholesale distributor of pharmaceutical and other healthcare
Read more →