SCHEDULE 13G: Global Ascend Ventures and Terence Tulus Disclose 6.05% Stake in Agape ATP Corp
Beneficial Ownership Disclosure
Global Ascend Ventures Ltd and its director, Terence W Tulus, have disclosed a beneficial ownership of 6.05% in Agape ATP Corp's common stock, acquired through a subscription agreement.
Summary
- Global Ascend Ventures Ltd and its director, Terence W Tulus, have jointly filed a Schedule 13G, disclosing beneficial ownership of 3,022,200 shares of Agape ATP Corp's common stock.
- This ownership represents 6.05% of the company's total issued and outstanding common stock.
- The shares were acquired pursuant to a subscription agreement dated February 28, 2025.
- The percentage is calculated based on 50,005,381 shares of common stock issued and outstanding as of March 24, 2025, as reported in Agape ATP Corp's 8-K filing on March 25, 2025.
- Terence W Tulus beneficially owns these shares through his 100% ownership of Global Ascend Ventures Ltd.
- Both reporting persons hold sole voting and sole dispositive power over the 3,022,200 shares.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would significantly sway sentiment positively or negatively. It's a neutral, compliance-driven filing.
Future Outlook
NA
Industry Context
This filing is a standard disclosure of a significant ownership stake, common in the financial industry for transparency. It does not provide broader industry trends or competitive analysis.
Related Party Transactions
- Terence W Tulus beneficially owns 3,022,200 shares of common stock through his 100% ownership of Global Ascend Ventures Ltd, making Global Ascend Ventures Ltd and Terence W Tulus related parties in this filing.
Stakeholder Impact
- Shareholders: The disclosure introduces a new significant shareholder, Global Ascend Ventures Ltd, controlled by Terence W Tulus, holding 6.05% of the common stock. This could influence future corporate actions or investor perception.
Key Dates
| Date | Description |
|---|---|
| 2025-02-28 | Date of the subscription agreement pursuant to which shares were acquired. |
| 2025-03-24 | Date of event which requires filing of this statement; also the date for shares issued and outstanding calculation and Global Ascend Ventures Ltd's ownership. |
| 2025-03-25 | Date Agape ATP Corp's 8-K was filed with the SEC, reporting 50,005,381 shares issued and outstanding. |
| 2025-03-27 | Date of the Joint Filing Agreement between Global Ascend Ventures Ltd and Terence W Tulus. |
| 2025-03-31 | Date the Schedule 13G was signed by Global Ascend Ventures Ltd and Terence W Tulus. |
Keywords
Agape ATP Corp, Global Ascend Ventures Ltd, Terence W Tulus, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Shareholder Disclosure, Investment, Subscription Agreement
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