Greenpro Capital Corp. 8-K

What Happened
Greenpro Capital Corp. announced it entered into a Confidential Settlement Agreement and Mutual Release with Millennium Fine Art Inc. (MFAI) on June 24, 2026, resolving all claims in Nevada state court (Case No. A-21-840033-B) and a related JAMS arbitration (Ref. No. 5260000038), including disputes tied to an alleged 2021 NFT-related contract. Subject to closing conditions and delivery of dismissal documents, Greenpro will pay MFAI $100,000 and surrender 2,000,000 restricted shares of MFAI Class B common stock for cancellation. The Company’s Board approved the settlement by unanimous written consent dated June 15, 2026.

Key Details

• Settlement date: June 24, 2026; Board approval: June 15, 2026.
• Cash payment: $100,000 to MFAI.
• Equity surrendered: 2,000,000 restricted MFAI Class B shares (the Company’s entire equity interest in MFAI).
• Background: Shares were acquired July 1, 2020 as consideration for selling a 4% interest in the 12.3-kg “Millennium Sapphire”; the 2,000,000 shares represent about 5% of MFAI’s issued shares and ~1% of its voting rights.
• Post-settlement: Litigation and arbitration to be dismissed with prejudice; agreement includes mutual releases, confidentiality, non-disparagement, and a statement that it is not an admission of liability.

Why It Matters
This settlement closes a multi-year dispute that involved both court and arbitration proceedings and removes related legal uncertainty. The financial impact to Greenpro is limited to the $100,000 payment and the loss of its remaining MFAI equity stake (2 million restricted shares), which the filing describes as the entirety of the company’s MFAI investment. For investors, the result is a defined, capped cost and resolution of the matter rather than ongoing legal exposure.