History
Fuse Group, a small shell-turned-consultancy, has hopped between business lines while surviving on small convertible loans, with conversion prices falling from $0.45 to $0.07 a share by January 2026.
2017-2018: A parent's loan and a software pivot
In March 2017 the company, then called Fuse Enterprises, restructured a loan from its majority shareholder, Samoa-based Landbond Home Limited, which owned 60.9%. Landbond swapped an existing convertible note for a new $6.87 million promissory note from subsidiary Fuse Trading Limited, at 3% interest. In May 2018 the company signed a $3.0 million contract with Hong Kong's Prime King Investment Limited to build mining software and data systems, paid half upfront and half on completion. That was an unusual step for what had been a small shell company.
In July 2018 the $6.87 million note was cleared by converting it into 19,628,050 new shares at $0.35. The debt disappeared, but Landbond's control grew stronger. Shares on issue rose to 64,778,050 by the end of 2018.
2021: Two deals, one collapse
The record is quiet from 2019 to 2020. In February 2021 Fuse Group agreed to buy Portafolio en Investigacion Ambiental, a Mexican company owning five mines, for 14,285,715 new shares. Its first move into operating mining assets. In March it announced a far larger deal in a different field: 100,000,000 new shares to buy biology research company E-Mo Biotech Holding. That would have given E-Mo's largest owner about 32% of the combined company, more than Landbond.
In October 2021 the E-Mo deal was terminated without closing. The same filing disclosed a restatement of the March and June 2021 quarterly results, after the auditor found an error in how shares issued as a deposit for the Mexican deal were booked. The records seen here do not confirm whether the Mexican acquisition closed.
2023-2026: Small loans and consulting
From February 2022 the company funded itself with small notes from Liu Marketing. In July 2023, after a further $50,000 note, Liu Marketing converted twelve notes, totaling $716,767 with interest, into 1,592,816 shares at $0.45. In December 2023 Fuse signed a one-year consulting agreement with Beijing Jixiang Fengqi Tech Company Limited, at $10,000 a month, for North American market research and business advice: a genuine revenue stream for a company that had mostly lived on financing. Share counts fell sharply in 2024 to 13,297,143; the beats do not explain this.
On 30 January 2026 the company raised $275,000 from three Chinese individual investors through convertible notes at 5% interest, convertible at just $0.07 a share, well below the $0.33-$0.45 used in 2022-2025. As of that date it remained a small company with persistent going-concern doubts, relying on small convertible loans.
Written from the 9 story beats below (2017 to 30 Jan 2026), which come from the company's own announcements and filings.