EpicQuest Edu Stock Price, News & Analysis

Elite Education Group International Limited (Nasdaq: EEIQ) has acquired an 80% stake in EduGlobal College for C$1.0 million (US$0.8 million) and assumed C$200,000 (US$160,000) in liabilities. The company plans to invest C$3.0 million (US$2.4 million) over two years to enhance educational programs and increase enrollment. This acquisition supports Elite Education's strategic growth plan and geographical diversification, following its recent acquisition of Davis College in the US. EduGlobal College aims to attract diverse international students and provide quality education, including English proficiency training.

Elite Education Group International Limited (Nasdaq: EEIQ) announced the acquisition of a 70% controlling stake in Ameri-Can Education Group Corp. on November 26, 2021, for $2.5 million. This acquisition includes 77.78% of voting rights and aims to enhance Elite's growth strategy in providing education solutions for international students. The company plans to develop new programs at Davis College, focusing on high-demand fields like data science and electrical engineering, while also targeting recruitment from Ohio, Michigan, and China.

Elite Education Group International Limited (Nasdaq: EEIQ) plans to enhance its residential facilities near Miami University of Ohio, anticipating increased enrollment for its English Language Center program starting Fall 2022. The company has sold existing properties for approximately 150% of the original purchase price, using the proceeds for development. The upgrades aim to provide better living conditions and security for students, complementing their recruitment efforts. Chairman Jianbo Zhang expressed commitment to supporting Chinese students' academic success.

Elite Education Group International Limited (Nasdaq: EEIQ) announced an expansion into the UK, signing an agreement with The Education Group to recruit Chinese students for University of the West of Scotland. The Company will also represent Coventry University starting the 2021-2022 academic year. This strategic move aims to diversify its recruiting efforts beyond the US and enhance its educational offerings for Asian students. The Chairman, Jianbo Zhang, noted the importance of this expansion to realize sustained growth through strategic initiatives.

Elite Education Group International Limited (Nasdaq: EEIQ) announced a strategic growth initiative aimed at expanding its educational services. The Company has signed a non-binding letter of intent to acquire 70% of Ameri-Can Education Group for $2.5 million, split between cash and equity. The acquisition aligns with EEIQ's goal of enhancing career-training education opportunities for international students, particularly from China and Southeast Asia. The success of the acquisition depends on due diligence and board approval, with no guarantee of completion.

Elite Education Group International Limited (Nasdaq: EEIQ) provided an operations update for the second half of its fiscal year ended September 30, 2021. Enrollment for the English Language Program at Miami University of Ohio increased, with 136 students enrolled compared to 134 the previous year, achieving a conversion rate of 36.4%, the highest since 2015. Despite the termination of the agreement with Oxford campus, the company maintains a strong relationship with regional campuses. They plan to expand market reach in China, Canada, and the UK, while ensuring student safety and recruitment amid Covid-19 challenges.

Elite Education Group International Limited (Nasdaq: EEIQ) reported a significant decrease in revenue for the first half of fiscal 2021, with revenues at $3.1 million, down 49.4% from $6.1 million in the first half of 2020. The net loss reached $0.3 million compared to a net income of $1.3 million the previous year. However, as of June 30, 2021, there was a notable increase in student enrollments, with 58 students paying full tuition compared to just 3 in 2020, indicating a recovery in demand. The company maintains a strong cash position of $9.3 million, reflecting a 26.2% increase since September 2020.

Elite Education Group International Limited (Nasdaq: EEIQ) announced the partial exercise of an over-allotment option by underwriters after its $6.0 million initial public offering (IPO) for 750,000 units. An additional 31,343 shares were purchased at $7.98 per share. The offering included Series A and Series B warrants to purchase 112,500 shares each. Shares began trading on March 25, 2021, following SEC approval on March 24, 2021. The company provides education solutions for Chinese students interested in studying abroad, particularly through a partnership with Miami University of Ohio.

Elite Education Group International Limited (Nasdaq: EEIQ) announced the closing of its initial public offering (IPO) on March 30, 2021, raising $6.0 million by issuing 750,000 units at $8.00 per unit. Each unit comprises one common share, one Series A warrant, and one Series B warrant. The Series A warrants allow the purchase of shares at $5.00 and Series B warrants at $10.00, both expiring in five years. The offering was fully subscribed, and the common shares began trading on Nasdaq on March 25, 2021.