NetClass Technology Inc

NetClass Technology Inc. has filed a proxy statement for an Extraordinary General Meeting (EGM) scheduled for November 10, 2026. The primary purpose of the EGM is to vote on a 10-for-1 share consolidation, aimed at increasing the bid price of its Class A Ordinary Shares to comply with Nasdaq listing requirements. This follows a previous 50-for-1 reverse stock split on July 6, 2026. Shareholders will also vote on adopting an updated memorandum and articles of association to reflect the consolidation. The board of directors unanimously recommends shareholders vote in favor of all proposals.

NetClass Technology Inc. issued 100,000 Class B Ordinary Shares to Dragonsoft Holding Limited for $2.69 per share. Dr. Jianbiao Dai, the company's Chief Executive Officer and Chairman, is the sole owner of Dragonsoft Holding Limited. This transaction, completed on August 5, 2026, maintains Dragonsoft's 100% ownership of Class B shares, representing 77.93% of the total voting power.

NetClass Technology Inc. entered into three separate 12-month service agreements on July 20, 2026, with unaffiliated third parties. The company issued a total of 810,000 Class A ordinary shares as consideration for these services. The agreements cover outdoor advertising, technology services for a word-memorizing interactive game system, and technical consulting for an AI-powered Portuguese proficiency assessment system.

NetClass Technology Inc. reported a 74% increase in total revenue to $6.36 million for the six months ended March 31, 2026, compared to $3.65 million in the prior year period. Despite revenue growth, the company's net loss widened by 20.3% to $5.96 million, and gross profit saw a significant decline. The period also saw the introduction of a new AI computing support service, contributing over $1 million in revenue. The company effected a 50:1 reverse stock split on July 6, 2026, which retrospectively adjusted share numbers.

NetClass Technology Inc. announced it has regained compliance with The Nasdaq Capital Market's minimum bid price requirement. The company received a letter from Nasdaq on July 21, 2026, confirming that its Class A ordinary shares maintained a closing bid price of $1.00 or greater for ten consecutive business days, from July 7 to July 20, 2026. This follows a 50-for-1 reverse stock split approved by shareholders and the Board on June 19, 2026, which took effect on July 6, 2026, addressing a non-compliance notice issued in January 2026.

NetClass Technology Inc. has implemented a 1-for-50 reverse stock split for its Class A and Class B ordinary shares, effective July 6, 2026. This corporate action aims to help the company regain compliance with Nasdaq's minimum bid price requirement. As a result, the number of outstanding shares has significantly decreased, and the par value per share has increased proportionally.

NetClass Technology Inc. announced a 1-for-50 reverse stock split of its Class A and Class B ordinary shares, effective July 6, 2026. This action is intended to ensure the company maintains compliance with Nasdaq's minimum bid price requirement of $1.00 per share. The split will proportionally reduce the number of outstanding shares, with Class A shares decreasing from approximately 63.9 million to 1.28 million and Class B shares from 2.0 million to 40,000, without altering shareholders' percentage of ownership.

NetClass Technology Inc. entered into two separate agreements for technology development services, issuing a total of 6,000,000 Class A ordinary shares as consideration. The company engaged Bangyuan Liu for LLM-Based Learning APP System development and Akaewood Investment Holding Co., Ltd. for AI-based technology research and development. Both agreements are for a twelve-month period, commencing May 6, 2026, with shares issued on June 15, 2026, as restricted securities.

NetClass Technology Inc announced significant advancements in its artificial intelligence language proficiency assessment portfolio and international academic collaborations. The company signed a cooperation agreement with Shanghai Singapore International School to implement its AI-powered CEPA platform and launched a Portuguese proficiency assessment system. Additionally, NetClass signed a Memorandum of Understanding with the University of Évora in Portugal for long-term collaboration across AI education innovation, smart healthcare research, and academic exchange.

NetClass Technology Inc. announced significant advancements in its AI language proficiency assessment portfolio and international academic collaborations. The company signed a cooperation framework agreement with Shanghai Singapore International School to deploy its AI-powered Classroom English Proficiency Assessment (CEPA) platform. Additionally, NetClass launched its Portuguese proficiency assessment system (ACCP) and signed an MOU with the University of Évora in Portugal for long-term collaboration across four core areas, including AI education innovation and smart healthcare research.