Welcome to our dedicated page for NFT SEC filings (Ticker: MI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
NFT Limited (NYSE American: MI) is a foreign private issuer that reports to the U.S. Securities and Exchange Commission, and this page focuses on its SEC filings. Investors can use these documents to understand how the company describes its online platform for offering and trading digital artwork, as well as its fee-based revenue model built on listing fees, trading commissions, and management fees.
As a foreign private issuer, NFT Limited files an annual report on Form 20-F. The company has announced the filing of its Form 20-F for the year ended December 31, 2024, which includes audited financial statements and detailed narrative disclosures about its operations and risks. Access to this form helps readers analyze the company’s business structure and financial condition in a standardized format.
NFT Limited also furnishes current reports on Form 6-K. Recent Form 6-K submissions have included unaudited condensed consolidated financial statements and notes for interim periods, along with Management’s Discussion and Analysis of Financial Condition and Results of Operations. Other 6-K filings have reported changes in directors and executive officers, such as resignations, new appointments, and related compensation arrangements.
Through this filings page, users can review real-time updates from EDGAR as new 20-F and 6-K documents are posted. In addition, AI-powered tools on the platform can summarize lengthy filings, highlight key sections, and help explain complex disclosures, allowing readers to quickly identify information about governance changes, financial reporting, and other material events disclosed by NFT Limited.
NFT Limited completed a registered direct offering of 720,779 units, each with one Class A ordinary share and one warrant, at $3.85 per unit, raising gross proceeds of about $2.77 million and net proceeds of about $2.58 million. The company plans to use the cash for working capital and general corporate purposes.
Each warrant has a $4.17 exercise price and a five-year term, with a 4.99% beneficial ownership cap that investors can increase to 9.99% with notice. From March 12–25, 2026, holders may use a zero cash exercise feature, under which up to 3,439,689 ordinary shares could be issued. Management and affiliates agreed to a 120-day lock-up, and the company granted the placement agent a 6% fee, $50,000 expense reimbursement, and a 12‑month right of first refusal on future offerings.
NFT Limited is offering 720,779 Units at $3.85 per Unit. Each Unit consists of one Class A ordinary share and one warrant to purchase one Class A ordinary share. The Warrants have an exercise price of $4.17, expire in five years and include a zero cash exercise mechanism that, if used at the Floor Price, could issue up to 3,439,689 Class A ordinary shares. The company expects net proceeds of approximately $2.58 million and states it is unlikely to receive additional funds upon exercise of the Warrants. The Class A ordinary shares trade on NYSE American under the symbol MI. The offering is being placed by Maxim Group LLC on a reasonable-best-efforts basis and delivery is expected on or about March 11, 2026.
NFT Limited filed an amended Form 6-K to add detailed notes and MD&A to its previously furnished unaudited results for the six months ended June 30, 2025 and 2024.
For the first half of 2025, revenue was $316,966, down from $394,949, reflecting lower NFT transaction volumes. Gross profit fell to $220,942 (about 69.7% margin) from $298,925 (about 75.7% margin). The company moved from a net profit of $6,286,001 in 2024 to a net loss of $810,938, mainly because prior-year results included a $6,661,993 gain on warrant revaluation and $228,394 of interest income, while 2025 recorded $118,907 of interest expense, largely on a new convertible note.
Operating cash flow for the 2025 period was a use of $39,859,762, driven by $39,175,392 of advance payments under twelve technology development and procurement agreements. This was partly offset by $20,000,000 of proceeds from unsecured convertible promissory notes issued in May 2025. As of June 30, 2025, cash, cash equivalents and restricted cash totaled $66,764,409, including $62,406,205 held at Silkroad International Bank in Djibouti, where the company states there is no deposit insurance.
NFT Limited reported a leadership change in early December 2025. Effective December 1, 2025, Mr. Kuangtao Wang resigned as director, chairman of the board and chief executive officer for personal reasons, and the company stated that his departure did not arise from any disagreement over operations, policies or practices.
On December 2, 2025, the board appointed Mr. Yanying Wang as chairman, director and chief executive officer to fill the vacancy. The company entered into an employment agreement with him that provides an annual salary of $24,000 for his combined roles. Mr. Wang has served as Technical Director of Tian’an Digital Investment (Shenzhen) Co., Ltd since December 2020 and holds a Bachelor’s degree in Computer Science and Technology from Hebei University of Technology.
NFT Limited, a foreign private issuer listed under symbol MI, reported a change in its board of directors. On October 31, 2025, Mr. Ronggang Zhang resigned from the Board and its committees, effective November 1, 2025, for personal reasons and not due to any disagreement regarding the company’s operations, policies, or practices.
On November 18, 2025, the Board appointed Mr. Shuo (Cooper) Li as an Independent Director to fill the vacancy. He was also named chairman of the nominating and corporate governance committee and a member of both the audit and compensation committees. Under a director offer letter dated November 18, 2025, Mr. Li will receive annual compensation of $12,000 for his services as an independent director. The company states there are no family relationships or special arrangements related to his appointment.
NFT Limited submitted a Form 6-K as a foreign private issuer, mainly to provide investors with updated interim financial information. The company is furnishing unaudited condensed consolidated financial statements and notes for the six months ended June 30, 2025 and 2024 as Exhibit 99.1.
It is also providing a Management’s Discussion and Analysis of Financial Condition and Results of Operations for the same six-month periods as Exhibit 99.2. Additional Inline XBRL files and the interactive cover page data are included to support electronic analysis and regulatory reporting.
Registration scope and purpose: NFT Limited filed a Form F-1 on 23 June 2025 to register up to 9,253,262 Class A ordinary shares for resale by noteholders identified as “Selling Shareholders.” The shares correspond to the full share-count that could be issued upon conversion of $20 million aggregate principal amount (plus accrued interest) of amended and restated convertible notes issued on 6 May 2025 and amended on 3 June 2025 under a Securities Purchase Agreement.
No primary proceeds: The company will not sell shares nor receive cash in this offering; all proceeds, if any, accrue to the selling shareholders. The $20 million was already received when the notes were issued.
Potential dilution: NFT Limited has only 5,065,150 shares outstanding as of the prospectus date. Full conversion would nearly triple the float, creating material dilution for existing holders. Based on the last reported NYSE American price of $2.2471 (20 June 2025), the registered shares represent approximately $20.8 million of market value.
Corporate structure & geography: NFT Limited is a Cayman Islands holding company operating through subsidiaries in New York, Wyoming and Hong Kong; it maintains no subsidiaries or offices in mainland China and has no variable-interest entities (VIEs). One subsidiary, Metaverse Digital Payment Co., Limited, provides digital-payment services in Hong Kong. Management highlights that the legal and operational risks normally associated with PRC businesses can also apply to Hong Kong entities.
Regulatory backdrop: The prospectus devotes extensive disclosure to PRC oversight. China’s 2023 “Trial Measures” require domestic companies to file with the CSRC before overseas offerings; although NFT Limited is incorporated offshore and lacks PRC subsidiaries, PRC regulators could still intervene, potentially affecting share value. The filing also warns U.S. investors that enforcing U.S. judgments against directors residing in mainland China may be difficult.
Emerging-growth status & financial reporting: The emerging growth company box is unchecked; the company therefore does not claim EGC benefits. The auditor is Assentsure PAC (PCAOB ID 6783) headquartered in Singapore.
Key investor implications:
- Large potential dilution if all notes convert.
- No cash proceeds to the company; prior financing already completed.
- Ongoing geopolitical and regulatory uncertainty tied to Hong Kong/PRC relations.
- NYSE American ticker “MI” remains active; additional shares may expand float and liquidity.