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Longfin Corp

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2018 10-Q, filed Aug 13, 2018. Its latest SEC filing is a SC 13G from Feb 4, 2019.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Sells physical commodities and provides trade-finance, trading-platform and blockchain smart-contract technology to importers, exporters and other businesses.

Who Were Their Customers?

Longfin sells physical commodities to customers and charges third parties for using its trading infrastructure; its trade-finance and blockchain tools are aimed at importers, exporters, and other businesses.

Customers above 10% of revenue, FY2017
of revenue from three customers (26%, 21%, 11%)

How Were They Changing?

Since the FY2017 annual report
Latest quarter: Q2 FY2018, the three months to Jun 30, 2018
Revenue
▲ +365%
vs $8.6M in Q2 FY2017
Net income
▼ −82% (Loss)
vs −$19.9M in Q2 FY2017
  • Nov 27, 2018 Board dissolved; CFO and other directors were terminated
  • Nov 21, 2018 Longfin ceased operations and assigned its assets for creditor liquidation The company said liabilities exceeded assets and it did not expect distributions to stockholders.
  • May 7, 2018 Longfin announced plans to delist its shares from Nasdaq It said the shares were expected to trade on the over-the-counter market after delisting.
  • Apr 10, 2018 Longfin engaged AJSH as its principal accountant

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