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YHC-News
YHC-Events
LQR House Changes CEO, Leo Chen Takes Over Immediately
LQR House announced that Sean Dollinger has stepped down as CEO, effective October 16. Leo Chen will become CEO, effective immediately. This change follows LQR's strategic pivot toward its New Zealand-based acquisition, Fusion Five Continents Securities, alongside several other initiatives, including a technology agreement with ByteDance. Dollinger believes the company will be better served by a CEO with the operational background for this new direction. In connection with Dollinger's departure from LQR House, the online spirits business will be transferred to a company owned by Kumar Abhishek, the outgoing CFO of LQR House. Chen has over 10 years of executive management experience in large enterprises and diversified conglomerates. He is the former Chairman of Shenzhen Jincheng Confidentiality Technology Co., Ltd., and served as the General Manager of the Finance Department of Beijing Energy International Holdings Co., Ltd.
LQR House Inc Trading Halted, News Pending
LQR House Inc trading halted, news pending
LQR House Approves 1-for-100 Reverse Stock Split
LQR House's Board of Directors approved a reverse stock split of LQR House's shares of Common Stock, par value $0.0001 per share, at a ratio of 1-for-100. The Company filed its Certificate of Amendment to the Certificate of Incorporation with the Secretary of State of Delaware on July 9, to implement the Reverse Stock Split. The Reverse Stock Split is expected to become effective at 12:01 a.m. Eastern Time on July 13, and LQR House's Common Stock is expected to begin trading on the Nasdaq Capital Market on a split-adjusted basis at the opening of trading on July 13, under the existing ticker symbol "YHC". As disclosed in the Company's Current Report on Form 8-K filed on March 6, the Company's stockholders approved an amendment to the Company's Certificate of Incorporation at the special meeting of the stockholders held on March 2, authorizing one or more reverse stock splits of the Company's common stock at a ratio in the range of 1-for-40 to 1-for-800, with the ratio, implementation and timing to be determined by the Board in its sole discretion. The Board subsequently determined to effect the Reverse Stock Split at a ratio of 1-for-100. The primary goal of the Reverse Stock Split is to increase the per share market price of the Common Stock to regain compliance with the minimum $1.00 average closing price requirement for continued listing on the Nasdaq.
LQR House Enters AI Computing Agreement with ByteDance
LQR House announced that its subsidiary YHC AI Limited has entered into a two-year agreement with BytePlus, a ByteDance group company, to purchase advanced artificial intelligence computing power on the BytePlus ModelArk platform to expand the AI-driven research and quantitative-modeling capabilities of the Company's subsidiary Fusion Five Continents Securities Limited and to promote those capabilities to the public. "Investors are right to focus on generative video. It is one of the most visible advances in artificial intelligence," said Sean Dollinger, Chief Executive Officer of LQR House. "Our interest goes a layer deeper. A model that can generate the next frame of a scene is, at its core, a system for modeling how complex systems unfold when future states are not fully predictable, which I consider to be among the central problems in quantitative finance. Coupling ByteDance's Seed AI model with its Seedance video-oriented model provides Fusion Five Continents with a unique range of AI tools to upgrade the engine it runs for stock research and portfolio construction."
LQR House in Advanced Talks with ByteDance for Strategic Relationship
LQR House confirmed that it is in advanced negotiations with ByteDance regarding a strategic relationship spanning ByteDance's artificial intelligence vertical. "We did not acquire Fusion Five Continents to operate a brokerage the conventional way. We acquired it to build something AI-native," said Sean Dollinger, Chief Executive Officer of LQR House. "A relationship with ByteDance's artificial intelligence vertical is the kind of foundation that makes that ambition real. We will have more to share with shareholders shortly."
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