Business
CORRECTION FROM SOURCE: Nocera, Inc. to Acquire Zhe Jiang Xin Shui Hu Digital Information, Ltd. – a Chinese Digital Information Company
In the original release, it reads:"The purchase price of the acquisition will be1.5 million shares of Nocera common stock and 1 million shares of Nocera's
About this update from Nocera, Inc.
[{"type":"text","content":"In the original release, it reads:\"The purchase price of the acquisition will be1.5 million shares of Nocera common stock and 1 million shares of Nocera's Class C warrants.Is corrected to read as follows:\"The purchase price of the acquisition was 1.5 million shares of Nocera common stock.\"Amended Press as the following:TAIPEI, TAIWAN / ACCESSWIRE / June 7, 2023 / Nocera, Inc. (NASDAQ:NCRA) (\"Nocera\" or the \"Company\"), a fully integrated sustainable seafood company focusing on manufacturing and operating land based Recirculatory Aquaculture Systems (\"RASs\"), today announced correction of the the purchase price.The Acquisition Allows the Company to Enter Douyin ( Chinese Tiktok - A Video and Live Sales Sharing Market)Potential of $14 million monthly General Merchandise Revenue (GMV) for Fiscal 2024Nocera, Inc. (NASDAQ:NCRA) (\"Nocera\" or the \"Company\"), a fully integrated sustainable seafood company focusing on manufacturing and operating land based Recirculatory Aquaculture Systems (\"RASs\"), today announced its acquisition of 100% of the issued and outstanding shares of Zhe Jiang Xin Shui Hu Digital Information, Ltd. (\"Xin Shu Hu or XSH\"), a Chinese corporation located in Hang Zhou City of China. The purchase price of the acquisition was 1.5 million shares of Nocera common stock.Xin Shui Hu is a well-established mobile sales and live video streaming company who has a significant amount of accounts currently on the Douyin. The Douyin application allows users to create and share videos and merchandise to its subscribers. The Douyin hosts many accounts held by famous and up and coming chefs and restauranteurs who live stream cooking shows to promote themselves, their business and their merchandise. The Douyin platform is similar to all aspects of a major shopping network and using live streaming application whose subscribers are able to post video content on any subject via a 5G mobile network. This acquisition is part of Nocera's vertical integration effort of expanding and selling seafood into the business-to-consumer market to earn a better price point. Xin Shui Hu earns sales revenue but also sponsorships from brand products and brand advertising revenue.Jeff Cheng, Nocera's Chief Executive Officer, commented, \"This acquisition is our first step and first platform entering the Douyin video streaming and merchand...