The F-3 covers all the directors shares, earnout shares issued to King and Bao Li and shares that they reserve for the HK IPO. It is needed for the potential HK listing. They need to have the shares registered in order to proceed.
At the present they have no intention to raise any funds. Remember, they have always said the HK listing would be done in as non-dilutive a way as possible.
They continue to buy back shares from the market to the daily maximum that the board approved in the past. Remember, that when they buyback shares they get cancelled. In order to reissue them, they need to register new ones.
Nothing has changed from the plan.
Everybody just relax and have a glass of champagne.
registration does not mean sale. Who even knew they didn't have the shares already.
I find it funny that the loudest mouth on this subject has a ton of shares in an OTC stock that dumps unregistered shares almost daily.