UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

 

For the month of, September 2022

 

Commission File Number 001-40848

 

GUARDFORCE AI CO., LIMITED

 

(Translation of registrant’s name into English)

 

10 Anson Road, #28-01 International Plaza

Singapore 079903

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒    Form 40-F

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

 

 

 

 

 

 

EXPLANATORY NOTE

 

Guardforce AI Co., Limited (the “Company”) is furnishing this Form 6-K to provide the unaudited consolidated financial statements for the six months ended June 30, 2022 and 2021 and incorporate such financial statements into the Company’s registration statements referenced below.

 

As previously disclosed, the Company completed the acquisitions of Shenzhen Keweien Robot Service Co., Ltd. (“Shenzhen Keweien”) and Guangzhou Kewei Robot Technology Co., Ltd. (“Guangzhou Kewei”) on March 22, 2022. The purchase price of $10,000,000 consisted of $1,000,000 paid in cash (10%) and restricted ordinary shares of the Company at $4.2 per share (90%). On June 22, 2022, the Company completed the acquisition of Beijing Wanjia Security System Co., Ltd. (“Beijing Wanjia”, together with Shenzhen Keweien and Guangzhou Kewei, the “Acquired Businesses”) for $8,400,000 consisted of $840,000 paid in cash (10%) and restricted ordinary shares of the Company at $2 per share (90%).

 

The Company is furnishing this Form 6-K to provide the (i) audited combined financial statements as of December 31, 2021 and 2020 and for the years ended December 31, 2021 and 2020 for the Acquired Businesses; and (ii) unaudited pro forma combined financial statements for the year ended December 31, 2021 for the Acquired Businesses, and incorporate such financial statements into the Company’s registration statements referenced below.

 

This report on Form 6-K and the attached Exhibits 99.1, 99.2, 99.3, 99.4 and 99.5 are incorporated by reference into (i) the prospectus contained in the Company’s registration statement on Form F-3 (SEC File No. 333-261881) declared effective by the Securities and Exchange Commission on January 5, 2022, (ii) the prospectus dated February 9, 2022 contained in the Company’s registration statement on Form F-3 (SEC File No. 333-262441) declared effective by the Securities and Exchange Commission on February 9, 2022, and (iii) the prospectus dated June 14, 2022 contained in the Company’s post-effective Amendment No. 1 to the Form F-1 registration statement on Form F-3 (SEC File No. 333-258054) declared effective by the Securities and Exchange Commission on June 14, 2022.

 

FORWARD-LOOKING INFORMATION

 

This Report on Form 6-K contains forward-looking statements and information relating to us that are based on the current beliefs, expectations, assumptions, estimates and projections of our management regarding our company and industry. When used in this report, the words “may”, “will”, “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan” and similar expressions, as they relate to us or our management, are intended to identify forward-looking statements. These statements reflect management’s current view of us concerning future events and are subject to certain risks, uncertainties and assumptions, including among many others: our negative operating profits may raise substantial doubt regarding our ability to continue as a going concern, our substantial customer concentration, with a limited number of customers accounting for a substantial portion of our recent revenues, our subsidiaries’ ability to distribute dividends to us may be subject to restrictions under the laws of their respective jurisdictions, the emergence of additional competing technologies, changes in domestic and foreign laws, regulations and taxes, political and social events in Thailand, the volatility of the securities markets, and other risks and uncertainties which are generally set forth under the heading, “Key information - Risk Factors” and elsewhere in our Annual Report on Form 20-F filed on April 1, 2022 (the “Annual Report”). Should any of these risks or uncertainties materialize, or should the underlying assumptions about our business and the commercial markets in which we operate prove incorrect, actual results may vary materially from those described as anticipated, estimated or expected in the Annual Report.

 

All forward-looking statements included herein attributable to us or other parties or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Except to the extent required by applicable laws and regulations, we undertake no obligations to update these forward-looking statements to reflect events or circumstances after the date of this report or to reflect the occurrence of unanticipated events.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: September 30, 2022 Guardforce AI Co., Limited
     
  By: /s/ Lei Wang
  Lei Wang
  Chief Executive Officer

  

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EXHIBIT INDEX

 

Exhibit
Number
  Description
 
99.1   Audited Combined Financial Statements as of December 31, 2021 and 2020 and for the years ended December 31, 2021 and 2020
99.2   Unaudited Pro Forma Condensed Combined Financial Statements for the year ended December 31, 2021
99.3   Unaudited Interim Consolidated Financial Statements as of June 30, 2022 and for the six months ended June 30, 2022 and 2021
99.4   Operating and Financial Review and Prospects in Connection with the Interim Consolidated Financial Statements for the six months ended June 30, 2022
99.5   Press Release dated September 30, 2022
101.INS   XBRL Instance Document
101.SCH   XBRL Taxonomy Extension Schema Document
101.CAL   XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF   XBRL Taxonomy Extension Definition Linkbase Document
101.LAB   XBRL Taxonomy Extension Label Linkbase Document
101.PRE   XBRL Taxonomy Extension Presentation Linkbase Document
104   Cover Page Interactive Data File – the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document

 

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2022-06-30
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