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Cao Xi, the Chief Operating Officer of Maison Solutions Inc. (NASDAQ:MSS), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On March 17, Cao sold 58 shares of common stock at a price of $1.21 per share, totaling $70. The transaction occurred as MSS stock, currently trading at $1.01, has experienced significant volatility, dropping 25.5% in the past week. The company, with a market capitalization of $21.9 million, is scheduled to report earnings on March 25.
Prior to this sale, Cao acquired a total of 58 shares across two separate transactions. On February 27, Cao purchased 50 shares at $1.21 per share, and on March 14, acquired an additional 8 shares at $1.27 per share. The total cost of these acquisitions amounted to $70. Following the sale on March 17, Cao no longer holds any shares in the company. According to InvestingPro, MSS currently shows a weak overall financial health score, with short-term obligations exceeding liquid assets. InvestingPro subscribers have access to 8 additional key insights about MSS’s financial position and market performance.
In other recent news, Maison Solutions Inc. has modified the terms of a secured promissory note, extending its maturity date to May 11, 2026, as per a recent SEC filing. This financial restructuring follows the acquisition of Lee Lee Oriental Supermart, Inc., which was initially financed through a $15.2 million secured promissory note. The modification introduces an additional interest rate of eight percent annually on the outstanding principal balance, payable by the new maturity date or upon any defined event of default. Alongside these changes, Maison Solutions Inc. has paid a documentation fee of $35,000 to the note holders. Furthermore, the company has entered into a three-year consultancy agreement with Good Fortune Supermarkets, effective January 29, 2025. This deal involves strategic consulting services to four supermarket locations, with a focus on operational efficiency and business growth, for a weekly service fee of $25,000. John Xu, President and CEO of Maison Solutions, highlighted this agreement as a significant step in the company’s growth strategy. These developments reflect Maison Solutions’ ongoing efforts to reorganize its financial obligations and expand its business operations.
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