QINGDAO, China, March 24, 2021 /PRNewswire/ -- SOS Limited
(NYSE: SOS) (the "Company" or "SOS") announced today that
it has taken preliminary steps to establish a digital asset
exchange. Specifically, the Company entered into a
tailor-made license to use a blockchain asset exchange software
system made by a third party in exchange for a one-time licensing
fee.
Once the software is installed and operational, the Company
expects to establish a digital asset exchange. The Company
also intends to offer security and insurance services for digital
assets. The Company's Chairman and Chief Executive Officer,
Yandai Wang, commented "This is a key step in our blockchain and
cryptocurrency strategy. The digital asset exchange is an
important part of our goal to provide blockchain services, digital
asset security services and Decentralized Finance (DeFi)
services."
About SOS Limited
SOS is a high-technology company providing a wide range of
services to its corporate and individual members, including
marketing data, technology and solutions for emergency rescue
services. Recently, SOS began rolling out its cryptocurrency mining
business and plans to develop insurance and security management
solutions for digital assets and cryptocurrencies. SOS transforms
digital technology into data-driven operations through research and
development of big data, cloud computing, Internet of Things,
blockchain and artificial intelligence. The Company created an SOS
cloud emergency rescue software-as-a-service (SaaS) platform with
three major product categories: basic cloud (medical rescue card,
car rescue card, financial rescue card, mutual assistance rescue
card), cooperative cloud (information rescue center, intelligent
big data, intelligent software and hardware), and information cloud
(News Today, E-Commerce Today). The Company's corporate clients
include insurance companies, financial institutions, medical
institutions, healthcare providers, auto manufacturers, security
providers, senior living assistance providers and other service
providers in the emergency rescue services industry. For more
information, please visit: http://www.sosyun.com/.
Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of the federal
securities laws, including, but not limited to, our expectations
for future financial performance, business strategies or
expectations for our business. These statements constitute
projections, forecasts and forward-looking statements, and are not
guarantees of performance. SOS cautions that forward-looking
statements are subject to numerous assumptions, risks and
uncertainties, which change over time. Words such as "may,"
"can," "should," "will," "estimate," "plan," "project," "forecast,"
"intend," "expect," "anticipate," "believe," "seek," "target,"
"look" or similar expressions may identify forward-looking
statements. Specifically, forward-looking statements may include
statements relating to the Company's:
- ability to execute its business plan;
- changes in the market for SOS' products and services; and
- expansion plans and opportunities.
These forward-looking statements are based on information
available as of the date of this press release and our management's
current expectations, forecasts and assumptions, and involve a
number of judgments, risks and uncertainties that may cause actual
results or performance to be materially different from those
expressed or implied by these forward-looking statements.
These risks and uncertainties include, but not are limited to,
the risk factors described by SOS in its filings with the
Securities and Exchange Commission ("SEC"). These risk factors and
those identified elsewhere in this press release, among others,
could cause actual results to differ materially from historical
performance and include, but are not limited to:
- SOS's cryptocurrency mining, security and insurance businesses
are still under development, with many uncertainties in research of
relevant technologies;
- failure to access a large quantity of power at reasonable costs
could significantly increase SOS operating expenses and adversely
affect our demand for SOS's mining machines;
- shortages in, or rises in the prices of mining machines may
adversely affect the Company's business;
- any significant or prolonged failure in the data warehouse
facilities and data mining facilities that SOS operates or services
it provides, including events beyond its control, would lead to
significant costs and disruptions and would reduce the
attractiveness of its facilities, harm its business reputation and
have a material adverse effect on its results of operation;
- security breaches or alleged security breaches of our data
warehouses could disrupt SOS operations and have a material adverse
effect on its business, financial condition and results of
operation; and
- Chinese government's policies and regulatory oversight of
crypto currency mining operation;
- other risks and uncertainties indicated in SOS's SEC reports or
documents filed or to be filed with the SEC by SOS.
Accordingly, forward-looking statements should not be relied
upon as representing our views as of any subsequent date, and you
should not place undue reliance on these forward-looking statements
in deciding whether to invest in our securities. We do not
undertake any obligation to update forward-looking statements to
reflect events or circumstances after the date they were made,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.
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SOURCE SOS Limited