SOS Limited Eyes 7 Billion Shares in Major Survival Move

Shareholders at SOS Limited recently approved a plan that could expand the company share pool by one hundred times. The vote creates capacity for up to seven billion shares, giving the crypto linked firm room to raise fresh equity. This comes after the company reported a steep decline in cash reserves from over 228 million dollars down to just 3.2 million dollars at the end of the year.

The financial pressure extends beyond cash reserves. SOS reported a net loss of 97.3 million dollars from continuing operations, while direct mining revenue dropped to zero after the company paused that activity. Despite the lack of mining income, the firm held 802 Bitcoin and nearly 3,000 Ethereum on its balance sheet at year end, meaning digital assets make up the bulk of its remaining value.

In addition to the share expansion, shareholders also gave the board permission to execute a reverse stock split if needed over the next two years. Market watchers noticed that the company outstanding Class B shares increased by two million without a public explanation. Any future share issuance will depend on how the board decides to use this newly granted authority.

Traders and investors should watch for upcoming financial disclosures from SOS Limited. These updates will reveal whether the company starts using its massive new share pool to raise funds and how it plans to manage its heavy crypto holdings moving forward.