Recent Updates — FMFC
Kandal M Venture Limited filed a Form 6-K furnishing the Notice of Extraordinary General Meeting and Proxy Statement for a shareholder vote scheduled for September 22, 2026. The primary proposal is to approve a 40-for-1 share consolidation (reverse split) effective October 13, 2026. This action aims to restore compliance with Nasdaq’s minimum bid price requirement of $1.00 per share after the company received an additional 180-day extension until December 21, 2026. The record date for voting is August 27, 2026. Kandal M Venture Limited operates in the cannabis industry.
Kandal M Venture Limited closed a third tranche of senior unsecured convertible promissory notes on September 1, 2026, issuing $750,000 in principal at an initial conversion price of $0.278 per share with maturity on September 1, 2029. The company also entered into non-binding letters of intent for two related-party acquisitions: the purchase of intellectual property from Miro Design Limited for $2 million to $3 million and the acquisition of MC Venture Ltd. for $1 million to $2 million, both payable via newly issued Class A Ordinary Shares pending independent valuation and special committee approval. Additionally, the Board approved a 2026 Equity Incentive Plan reserving 3,660,000 shares for future awards. Kandal M Venture Limited operates in the investment and venture capital sector.
Kandal M Venture Limited reported financial results for the fiscal year ended March 31, 2026. Revenue decreased slightly by 0.3% to US$17,128,067 from US$17,186,677 in the prior year. Gross profit fell 3.4% to US$3,243,017 with a margin contraction of 0.6 percentage points to 18.9%. Net income increased 12.4% to US$235,625 from US$209,673, driven by reduced interest expenses offsetting lower gross profits. The company secured growth capital in June 2026 for infrastructure expansion and completed its IPO, generating net proceeds of approximately US$8 million. Kandal M Venture Limited operates as a contract manufacturer of affordable luxury leather goods with facilities in Southeast Asia.
Kandal M Venture Limited postponed its extraordinary general meeting of shareholders, originally scheduled for July 9, 2026, until further notice. The board of directors determined the postponement was necessary to adjust the proposal previously set out in the notice of EGM dated June 16, 2026. The company operates in Cambodia and is a venture investment firm.
Kandal M Venture Limited entered into a securities purchase agreement to issue up to $25,000,000 in senior unsecured convertible promissory notes. Following an initial closing on June 5, 2026, with $1,000,000 in notes, a second closing occurred on June 25, 2026, for an additional $1,000,000. The second note bears 10% annual interest and matures on June 5, 2029, and is convertible into Class A Ordinary Shares at 105% of the principal. Kandal M Venture Limited is a company based in Cambodia and operates in the venture capital or investment management sector.
Kandal M Venture Limited received an extension from Nasdaq on June 23, 2026, providing an additional 180 days to regain compliance with the minimum bid price requirement of $1 per share. The company previously failed to meet Nasdaq Listing Rule 5550(a)(2) based on its closing bid price between November 6, 2025, and December 19, 2025. The new deadline to demonstrate compliance is December 21, 2026, failing which the company faces potential delisting. The company is evaluating options to meet these requirements. Kandal M Venture Limited is a Cambodian-based company.