Year: 2021

SOS is a Chinese IT services company involved with blockchain. The company appears to be the product of 2015 reverse merger which listed on the NASDAQ in April 2017. The IPO was not a success, with the shares losing over 90% of their value over the next two years to mid-2019 whereupon there seems to have been a change of management and control. In a period of just three months between December 2020 and February 2021, SOS's share price rose five-fold which coincided with seven private placements. In February 2021, Culper Research published a report in which it claimed that the company’s supposed acquisitions were extremely problematic. On the same day, Hindenburg Research published a thread on Twitter alleging that SOS was an obvious China-based shell game which was reanimating the corpse of a former China based company. Although there were no auditor and/or director resignations, a questionable acquisition was cancelled, an SEC investigation launched and its share price collapsed more than 95%. 

Last updated July 2022.  

The information on this page has been compiled from publicly available sources. GMT Research Limited has not verified the information and does not warrant its accuracy. Any claims made or views expressed are not necessarily those of GMT Research Limited.

lock03 Read More