GREAT
NECK, N.Y., Nov. 16,
2022 /PRNewswire/ -- Singularity Future Technology
Ltd. ("Singularity" or the "Company") (Nasdaq: SGLY) announced an
update with respect to the Company's business and other matters.
The Company has received subpoenas from the United States Attorney's Office for the
Southern District of New York and
the United States Securities and Exchange Commission. The
Company is complying with these subpoenas and fully cooperating
with these governmental entities. Additionally, the special
Committee of the Company's Board of Directors is continuing to
investigate the claims raised by Hindenburg Research on
May 5, 2022 and other related
matters.
The special committee anticipates that the fact-finding portion
of investigation will be completed on or before December 31, 2022.
About Singularity Future Technology Ltd. (Nasdaq:
SGLY)
On January 3, 2022, the Company
changed its name from Sino-Global Shipping America, Ltd. to
Singularity Future Technology Ltd. (Nasdaq: SGLY). Singularity is a
logistics integrated solution provider, primarily focused on
providing logistics, resources, equipment and other logistical
support to blockchain and crypto mining businesses.
Since 2020, the Company has worked to capitalize on its experience
in global logistics management to develop a presence in the
blockchain supply management area. At present, Singularity
distributes, sells and markets crypto mining machines
through its Thor Miner joint venture and maintains a warehouse
providing inventory control and management services in Houston, TX.
Forward-Looking Statements
Certain statements made herein that are not based on historical
fact are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 and the provisions
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended
(which Sections were adopted as part of the Private Securities
Litigation Reform Act of 1995). While the Company's management has
based any forward-looking statements contained herein on its
current expectations, the information on which such expectations
were based may change. These forward-looking statements rely on a
number of assumptions concerning future events and are subject to a
number of risks, uncertainties, and other factors, many of which
are outside of the Company's control, that could cause actual
results to materially differ from such statements. Accordingly,
investors should not place any reliance on forward-looking
statements as a prediction of actual results. The Company disclaims
any intention to, and undertake no obligation to, update or revise
any forward-looking statement.
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SOURCE Singularity Future Technology Ltd.