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ABVC on Nasdaq

ABVC BIOPHARMA, INC.

ABVC BIOPHARMA, INC. is an American pharmaceutical preparations company based in Fremont.1

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Last updated Oct 21, 2026.

Overview

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  • TickerABVC on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersFremont, California1
  • Incorporated inNV2
  • Business address44370 Old Warm Springs Blvd., Fremont, Ca 945382
  • Filer categoryNon-accelerated filer, Smaller reporting company2
  • Legal formCorporation

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-2416.0%Operating margin4
-2671.8%Net margin4
-41.9%Revenue growth, 20254
-71.2%Return on equity4

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development4¢$121.1K
  • Selling, general and admin95¢$2.9M
  • Income tax1¢$24.2K

Out of $296.0K in revenue.4 The company lost money this year.

Financial statements

Revenue567894$296.0K in 2025−58% since 2019
0$250.0K$500.0K$750.0K$1.0M2019: $701.7K$701.7K20192020: $483.0K$483.0K2020−31%2021: $355.8K$355.8K2021−26%2022: $969.8K$969.8K2022+173%2023: $152.4K$152.4K2023−84%2024: $509.6K$509.6K2024+234%2025: $296.0K$296.0K2025−42%
Gross profit567894$508.8K in 2024−25% since 2019
-$250.0K0$250.0K$500.0K$750.0K2019: $681.6K$681.6K20192020: $464.3K$464.3K2020−32%2021: $350.7K$350.7K2021−24%2022: $683.4K$683.4K2022+95%2023: -$149.6K-$149.6K20232024: $508.8K$508.8K2024
Operating income567894-$7.2M in 2025+107% since 2019
-$20.0M-$15.0M-$10.0M-$5.0M02019: -$3.5M-$3.5M20192020: -$8.5M-$8.5M2020+146%2021: -$11.7M-$11.7M2021+38%2022: -$15.1M-$15.1M2022+29%2023: -$6.8M-$6.8M2023−55%2024: -$4.7M-$4.7M2024−30%2025: -$7.2M-$7.2M2025+52%
Net income567894-$7.9M in 2025+101% since 2019
-$20.0M-$15.0M-$10.0M-$5.0M02019: -$3.9M-$3.9M20192020: -$10.6M-$10.6M2020+169%2021: -$12.8M-$12.8M2021+21%2022: -$16.4M-$16.4M2022+28%2023: -$7.8M-$7.8M2023−53%2024: -$4.9M-$4.9M2024−37%2025: -$7.9M-$7.9M2025+61%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Revenue$509.6K
Cost of revenue$763
Gross profit$508.8K
Selling, general and administrative expenses$2.9M$2.3M
Research and development expenses$121.1K$179.3K
Stock-based compensation$4.1M$2.8M
Total operating expenses$7.2M$5.2M
Loss from operations-$7.2M-$4.7M
Interest income$167.1K$87.4K
Interest expense-$415.9K-$825.9K
Operating sublease income$134.2K$48.5K
Loss on foreign exchange changes-$77.5K-$25.1K
Loss on investment in equity securities-$192.8K-$339.2K
Loss on impairment of equity investment-$803.0K
Write off unclaimed accrued liabilities$255.6K
Other (loss) income, net-$13.6K$134.4K
Total other (expenses)-$1.2M-$664.3K
Loss before provision for income tax-$8.4M-$5.4M
Provision for income tax expense (benefit)$24.2K-$110.5K
Net loss-$8.4M-$5.3M
Net loss attributable to noncontrolling interests-$468.4K-$356.2K
Net loss attributed to ABVC and subsidiaries-$7.9M-$4.9M
Foreign currency translation adjustment$41.9K-$70.7K
Comprehensive loss-$7.9M-$5.0M
Basic (in Dollars per share)-$0.39-$0.42
Diluted (in Dollars per share)-$0.39-$0.42
Basic (in Shares)20.1M shares11.7M shares
Diluted (in Shares)20.1M shares11.7M shares

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Corporate structure

ABVC BIOPHARMA, INC. sits at the top of its group. 9 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of ABVC BIOPHARMA, INC.

  • Lind Global Fund II LP Filed SCHEDULE 13G/A on ABVC BIOPHARMA, INC., latest Aug 13, 2025 (5 filings since Aug 7, 2023)
  • Eugene Jiang Filed SCHEDULE 13D/A on ABVC BIOPHARMA, INC., latest Jul 15, 2025 (2 filings since Jun 3, 2025)
  • Shuling Jiang Filed SC 13D on ABVC BIOPHARMA, INC., latest Jul 12, 2022
  • ABVC BIOPHARMA, INC. Fremont, California
    • AiBtl BioPharma Inc. Subsidiary · Delaware, United States
    • American BriVision Corporation Subsidiary · Delaware, United States
    • BioKey (Cayman), Inc. Subsidiary · Cayman Islands
    • BioKey, Inc. Subsidiary · California, United States
    • BioLite BVI, Inc. Subsidiary · British Virgin Islands
    • BioLite Holding, Inc. Subsidiary · Nevada, United States
    • BioLite, Inc. Subsidiary · Taiwan
    • Yunzhiyi Co., Ltd. Subsidiary · Taiwan

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What ABVC BIOPHARMA, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land and buildings$4.2M4 Dec 31, 2025$339.0K4 Dec 31, 2024+1145.4%
Property and equipment, before depreciation$16.2M4 Dec 31, 2025$3.9M4 Dec 31, 2024+320.9%
Accumulated depreciation$3.4M4 Dec 31, 2025$3.3M4 Dec 31, 2024+1.1%
Property and equipment, net$12.8M4 Dec 31, 2025$511.1K4 Dec 31, 2024+2411.4%
Operating-lease assets (leased space)$1.9M4 Dec 31, 2025$640.4K4 Dec 31, 2024+198.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$681.5K4 Dec 31, 2025$248.4K4 Dec 31, 2024+174.4%
Marketable securities, current$64.4K4 Dec 31, 2025$64.7K4 Dec 31, 2024−0.6%
Stakes in other companies (equity method)-$192.8K4 Dec 31, 2025-$339.2K4 Dec 31, 2024+43.2%
Long-term investments$1.9M4 Dec 31, 2025$2.3M4 Dec 31, 2024−16.8%

Properties, in its own words

Our Subsidiary BioLite has its laboratories located in Hsinchu Biomedical Science Park, with an address of 2nd Floor, No. 20, Sec. 2, Shengyi Rd., Zhubei City, Hsinchu County 302, Taiwan (R.O.C.). On January 1, 2015, BioLite Taiwan entered into a lease agreement with the National Science Park Administrative Office (Hsinchu City) under which it rents two dormitory buildings in Hsinchu County, Taiwan for a period of five years. The aggregate leasing area amounts to approximately 678 square meters (equivalent to approximately 7,298 square feet) on the second floor of the building. The leased space counts for approximately 1.9% of the total space of the building. On January 1, 2020 and January 1, 2024, BioLite Taiwan extended the contract for another five and five years respectively. The new expiration date is on December 31, 2029. The rent increases by a small percentage each year during the term of the lease agreement. BioLite paid $49,802 and $48,406 in rental expense for the laboratory space for the years ended December 31, 2025 and 2024, respectively.

Another subsidiary, BioKey, is headquartered in Fremont, California. BioKey’s office lease will end on February 28, 2031 and the office occupies approximately 28,186 square feet. BioKey’s space consists of offices, research and production laboratories, and manufacturing facilities, which are GMP certified. The total BioKey’s rental expenses were $416,265 and $421,894 for the years ended December 31, 2025 and 2024, respectively.

Item 2 of the 10-K filed Mar 3, 2026.12

Leadership

Who has led ABVC BIOPHARMA, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Frank Thomas Krotine2007
  2. Richard Dean Stromback2008
  3. Robert G. Crockett2008–2011
  4. Howard Doong2021

Chair

  1. Eugene Jiang2021

President

  1. Frank Thomas Krotine2007–2009
  2. Shulamit Lazar2015

Chief financial officer

  1. David W. Morgan2007–2008
  2. Kevin Patrick Stolz2011
  3. Chihliang An2022

Chief operating officer

  1. Frank Thomas Krotine2007–2011
2010201520202025
Board members and other officers (26)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerUttam Patil named May 28, 202446
  • DirectorChe-Wei Hsu named Mar 2, 2023 to May 28, 202446
  • DirectorHsin-Hui Miao named Mar 2, 2023 to May 28, 202446
  • DirectorLeeds Chow named Mar 2, 2023 to May 28, 202446
  • DirectorYu-Min (Francis) Chung named May 28, 202446
  • DirectorFrancis Chen named Mar 2, 202347

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • AiBtl BioPharma Inc. Delaware, United States3
  • American BriVision Corporation Delaware, United States3
  • BioKey (Cayman), Inc. Cayman Islands3
  • BioKey, Inc. California, United States3
  • BioLite BVI, Inc. British Virgin Islands3
  • BioLite Holding, Inc. Nevada, United States3
  • BioLite, Inc. Taiwan3
  • Yunzhiyi Co., Ltd. Taiwan3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • American BriVision (Holding) CorpJan 29, 2016 to Apr 8, 20212
  • METU BRANDS, INC.Sep 8, 2015 to Jan 8, 20162
  • Ecology Coatings, Inc.Aug 22, 2008 to Sep 2, 20152
  • OCIS CORPJun 28, 2002 to Jun 13, 20072

Timeline

  1. Aug 27, 20268-K Entered a material agreement; Completed an acquisition or sale; Regulation FD disclosure48
  2. Aug 12, 20268-K Other events49
  3. Aug 4, 20268-K Other events50
  4. Jul 2, 20268-K Change of auditor51
  5. Mar 27, 20268-K Shareholder vote52
  6. Mar 3, 20268-K Results of operations; Earlier financial statements no longer reliable53
  7. Jan 16, 20268-K Unregistered sale of shares54
  8. Nov 3, 20258-K Results of operations55
  9. Oct 30, 20258-K Executive or director change56
  10. Sep 12, 20258-K Change of auditor57
  11. Aug 14, 20258-K Results of operations58
  12. Jul 18, 20258-K Entered a material agreement; Unregistered sale of shares59
  13. Nov 5, 2021New chief executive Howard Doong becomes CEO13
  14. Sep 18, 2008New chief executive Robert G. Crockett becomes CEO15
  15. Aug 20, 2008New chief executive Richard Dean Stromback becomes CEO14
  16. Aug 6, 2007New chief executive Frank Thomas Krotine becomes CEO16

Calendar

Coming up

  1. Oct 30, 2026Reports results for the quarter ending Sep/202660

When it reported results

  1. Mar 3, 2026Reported quarterly or annual results53
  2. Nov 3, 2025Reported quarterly or annual results55
  3. Aug 14, 2025Reported quarterly or annual results58
  4. May 1, 2025Reported quarterly or annual results61
  5. Apr 16, 2025Reported quarterly or annual results62
  6. Apr 15, 2025Reported quarterly or annual results63
  7. Nov 14, 2024Reported quarterly or annual results64
  8. Aug 15, 2024Reported quarterly or annual results65

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

262 filings to the SEC since October 2021: 7 annual reports, 16 quarterly reports, 93 major events, 13 insider forms, 8 large holders, 2 private raises, 123 other. The latest 20:

  1. Sep 29, 2026DEF 14A DEFINITIVE PROXY STATEMENT EDGAR
  2. Sep 11, 2026PRER14A REVISED PRELIMINARY PROXY STATEMENT EDGAR
  3. Aug 27, 20268-K CURRENT REPORT EDGAR
  4. Aug 25, 2026PRER14A REVISED PRELIMINARY PROXY STATEMENT EDGAR
  5. Aug 17, 2026424B4 PROSPECTUS SUPPLEMENT EDGAR
  6. Aug 17, 2026424B4 PROSPECTUS SUPPLEMENT EDGAR
  7. Aug 17, 2026424B4 PROSPECTUS SUPPLEMENT EDGAR
  8. Aug 17, 2026424B4 PROSPECTUS SUPPLEMENT EDGAR
  9. Aug 12, 2026PRER14A REVISED PRELIMINARY PROXY STATEMENT EDGAR
  10. Aug 12, 202610-Q QUARTERLY REPORT EDGAR
  11. Aug 12, 20268-K/A CURRENT REPORT EDGAR
  12. Aug 4, 20268-K CURRENT REPORT EDGAR
  13. Jul 28, 2026PRE 14A PRELIMINARY PROXY STATEMENT EDGAR
  14. Jul 2, 20268-K CURRENT REPORT EDGAR
  15. May 18, 202610-Q QUARTERLY REPORT EDGAR
  16. May 15, 2026NT 10-Q NOTIFICATION OF LATE FILING EDGAR
  17. Mar 27, 2026POS AM POST-EFFECTIVE AMENDMENT NO. 5 TO FORM S-1 EDGAR
  18. Mar 27, 20268-K CURRENT REPORT EDGAR
  19. Mar 5, 2026DEF 14A DEFINITIVE PROXY STATEMENT EDGAR
  20. Mar 3, 202610-K ANNUAL REPORT EDGAR

The 262 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. May 23, 2024Raised $750,000 in a private offering of securities Form D: 1 investor so far Form D
  2. Feb 23, 2023Raised $3.2 million in a private offering of debt Form D: $3.7 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC374,499$591.7K0.0%+183,925
Geode Capital Management, LLC228,042$360.4K0.0%+6,873
Vanguard Fiduciary Trust Co97,363$153.8K0.0%No change
State Street Corp72,800$115.0K0.0%No change
Citadel Advisors LLC72,091$113.9K0.0%New
BlackRock, Inc.56,442$89.2K0.0%No change
Northern Trust Corp48,643$76.9K0.0%+16,556
XTX Topco Ltd48,276$76.3K0.0%New
Panagora Asset Management Inc36,682$58.0K0.0%New
UBS Group AG34,123$53.9K0.0%+32,352
Jane Street Group, LLC20,059$31.7K0.0%New
Citigroup Inc540$8530.0%New
LifeSteps Financial, Inc.300$4740.0%New
Caitong International Asset Management Co., Ltd6$90.0%New
Royal Bank Of Canada17$00.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How ABVC BIOPHARMA, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARABVC BIOPHARMA, INC.1
  • CIK0001173313
  • Employer ID (EIN)26-001465812
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company12
  • Incorporated inNevada12
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address44370 Old Warm Springs Blvd., Fremont, CA 945381
  • Phone510-668-08811
  • Shares outstanding26,654,365 as of Aug 10, 202611
  • Public float$37.0M as of Jun 30, 202512
  • AuditorSimon & Edward, LLP, Rowland Heights, California PCAOB ID 2485; no auditor attestation of internal control over financial reporting12
  • On EDGAR sinceJun 28, 20021
  • Filings794 in all: 8-K (253), 10-Q (53), 8-K/A (44), 424B4 (38), 4 (34), 3 (30), S-1/A (29), CORRESP (25)1
    All 54 form types

    UPLOAD (25), NT 10-Q (22), 10-Q/A (19), SC 13D (19), 10-K (17), 10QSB (16), EFFECT (16), POS AM (15), 10-K/A (14), 424B3 (11), NT 10-K (10), DEF 14A (8), S-1 (8), 3/A (7), PRE 14A (7), SC 13G (7), 10KSB (6), 4/A (6), 424B5 (4), RW (4), S-8 (4), 5 (3), AW (3), D (3), PRER14A (3), S-4/A (3), SB-2/A (3), SC 13D/A (3), DEFA14A (2), S-3 (2), SC 13G/A (2), SCHEDULE 13G/A (2), 10-KT (1), 10KSB/A (1), 424B1 (1), 424B2 (1), 8-A12B (1), CERT (1), PREM14A (1), S-1MEF (1), S-3/A (1), S-4 (1), S-8 POS (1), SB-2 (1), SCHEDULE 13D (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Mar 3, 2026
    Quarterly report (10-Q) Aug 12, 2026
    Proxy statement (DEF 14A) Sep 29, 2026
    Latest 8-K (8-K) Aug 27, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001 per shareABVCThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 3, 2026 (Section 12(b) of the Exchange Act).12

Risk factors and legal proceedings

The risks ABVC BIOPHARMA, INC. names in Item 1A of its 10-K filed Mar 3, 2026: 50 risks under these headings, as written.12

  • Risks Related to the Company’s Business
  • Unfavorable global economic conditions, including as a result of health and safety concerns, could adversely affect our business, financial condition or results of operations.
  • The Company is a development stage biopharmaceutical company and is thus subject to the risks associated with new businesses in that industry.
  • If the Company fails to raise additional capital, its ability to implement its business model and strategy could be compromised.
  • The Company has no history in obtaining regulatory approval for, or commercializing, any new drug candidate.
  • Our growth is dependent on our ability to successfully develop, acquire or license new drugs.
  • Our current products have certain side effects. If the side effects associated with our current or future products are not identified prior to their marketing and sales, we may be required to withdraw such products from the market, perform lengthy additional clinical trials or change the labeling of our products, any of which could adversely impact our growth.
  • We may be subject to product liability claims in the future, which could divert our resources, cause us to incur substantial liabilities and limit commercialization of any products that we may develop.
  • We have conducted, and may in the future conduct, clinical trials for certain of our product candidates at sites outside the United States, and the FDA may not accept data from trials conducted in such locations.
  • If clinical trials of our product candidates fail to demonstrate safety and efficacy to the satisfaction of the FDA and comparable non-U.S. regulators, we may incur additional costs or experience delays in completing, or ultimately be unable to complete the development and commercialization of our product candidates.
  • Even if any of our product candidates receives marketing approval, it may fail to achieve the degree of market acceptance by physicians, patients, third party payors and others in the medical community necessary for commercial success and the market opportunity for the product candidate may be smaller than we estimate.
  • We may seek to enter into collaborations with third parties for the development and commercialization of our product candidates. If we fail to enter into such collaborations, or such collaborations are not successful, we may not be able to capitalize on the market potential of our product candidates.
The other 39 risks
  • ABVC, through BioLite, may not be able to receive the full amounts available under the collaboration agreement by and between BioLite, Inc. and BioHopeKing, which could increase its burden to seek additional capital to fund the business operations.
  • ABVC and its Subsidiaries may not be successful in establishing and maintaining additional strategic partnerships, which could adversely affect ABVC’s ability to develop and commercialize products, negatively impacting its operating results.
  • ABVC’s licensors may choose to terminate any of the license agreements with ABVC. As a result, ABVC’s research and development of new drug candidates that contain the underlying API may be terminated abruptly.
  • ABVC’s Subsidiary BioLite depends on one supplier for the API of ABV-1703, ABV-1519, ABV-1502 and ABV-1501 and any failure of such supplier to deliver sufficient quantities of the API that meets its quality standard could have a material adverse effect on its research of these four drug candidates.
  • ABVC may use hazardous chemicals and biological materials in its business. Any claims relating to improper handling, storage or disposal of these materials could be time consuming and costly.
  • The facilities where the samples of drug candidates are manufactured need to be maintained and monitored in compliance with the good manufacturing practice standards, the failure of such maintenance could contaminate the results of our clinical trials and adversely affect our operations.
  • Cybersecurity incidents and decentralization of documents may hurt the company’s business, damage its reputation, increase its costs, and cause losses.
  • Risks Related to Intellectual Property
  • Pharmaceutical patents and patent applications involve highly complex legal and factual questions, which, if determined adversely to the Company, could negatively impact its respective licensors’ patent position and interrupt its research activities.
  • Developments in patent law could have a negative impact on the Company’s Licensors’ patent positions and the Company’s business.
  • If the Company is unable to protect the confidentiality of its trade secrets, its business and competitive position would be harmed, respectively.
  • Third parties may assert that the Company’s employees or consultants have wrongfully used or disclosed confidential information or misappropriated trade secrets.
  • ABVC’s ability to compete may decline if it does not adequately protect its proprietary rights or if it is barred by the intellectual property rights of others.
  • The Company and its respective licensors may not be able to enforce their intellectual property rights throughout the world.
  • Regulatory Risks Relating to Biopharmaceutical Business
  • The Company is subject to various government regulations.
  • The Company cannot be certain that it will be able to obtain regulatory approval for, or successfully commercialize, any of its current or future product candidates.
  • The Company faces substantial competition from companies with considerably more resources and experience than the Company has, which may result in others discovering, developing, receiving approval for, or commercializing products before or more successfully than the Company.
  • Risks Relating to Doing Business Outside the United States
  • Because part of ABVC’s pharmaceutical research and development is conducted outside of the U.S., the Company is subject to the risks of doing business internationally, including periodic foreign economic downturns and political instability, which may adversely affect the Company’s revenue and cost of doing business in Taiwan.
  • The Company may be exposed to liabilities under the U.S. Foreign Corrupt Practices Act (“FCPA”) and Chinese anti-corruption law.
  • International operations expose the Company to currency exchange and repatriation risks, and the Company cannot predict the effect of future exchange rate fluctuations on its business and operating results.
  • We conduct our operations internationally and the effect of business, legal and political risks associated with international operations may seriously harm our business.
  • A small number of licensees account for a substantial portion of the revenue we generate and the loss of one or more of these key licensees would negatively impact our revenue and cash flow.
  • If the Company becomes directly subject to the recent scrutiny, criticism and negative publicity involving U.S.-listed Chinese companies, we may have to expend significant resources to investigate and resolve the matters. Any unfavorable results from the investigations could harm our business operations, this offering and our reputation.
  • Risks Related to the Company’s Financial Condition
  • Our existing indebtedness may adversely affect our ability to obtain additional funds and may increase our vulnerability to economic or business downturns.
  • Failure to remediate a material weakness in internal accounting controls could result in material misstatements in our financial statements.
  • Failure to maintain the effectiveness of our disclosure controls and procedures has led to a misstatement in our financial statements and a restatement. If we do not remediate the identified material weakness and continue to lack effective internal controls, we may be unable to prevent additional errors or misstatements in the future, which could harm our operating results, subject us to regulatory scrutiny or sanctions, cause investors to lose confidence in our reported financial information, and negatively impact the market price of our common stock.
  • Our articles of incorporation allow for our board to create new series of preferred stock without further approval by our shareholders, which could adversely affect the rights of the holders of our Common Stock.
  • We may not be able to secure financing needed for future operating needs on acceptable terms, or on any terms at all.
  • Our internal computer systems, or those of our third-party contractors or consultants, may fail or suffer security breaches, which could result in a material disruption of our product development programs.
  • The elimination of personal liability against our directors and officers under Nevada law and the existence of indemnification rights held by our directors, officers and employees may result in substantial expenses.
  • Risks Related to the Company’s Common Stock
  • The share price of our Common Stock is volatile and may be influenced by numerous factors, some of which are beyond our control.
  • Insiders might have substantial influence over us, which could delay or prevent a change in our corporate control even if our other shareholders wanted it to occur.
  • The market price of our Common Stock may be volatile and there may not be sufficient liquidity in the market for our securities in order for investors to sell their securities.
  • We have not paid dividends in the past and do not expect to pay dividends in the future, and any return on investment may be limited to the value of our shares.
  • If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our stock price and any trading volume could decline.
  • Future sales and issuances of our Common Stock or rights to purchase Common Stock, including pursuant to our equity incentive plan or otherwise, could result in dilution of the percentage ownership of our shareholders and could cause our stock price to fall.
  • Our Common Stock may be subject to the “penny stock” rules of the Securities and Exchange Commission, which may make it more difficult for shareholders to sell our Common Stock.
  • Our failure to meet the continued listing requirements of the Nasdaq Capital Market could result in a delisting of our Common Stock.
  • We will continue to incur significant increased costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance requirements as a result of our Common Stock being listed on the Nasdaq Capital Market.

Legal proceedings

Unless disclosed otherwise, we are currently not a party to any material legal or administrative proceedings and are not aware of any pending legal or administrative proceedings against us. We may from time to time become a party to various legal or administrative proceedings arising in the ordinary course of our business.

The opening of Item 3, Legal Proceedings.12

Sources

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  48. 48
  49. 49
    SEC EDGAROther events
  50. 50
    SEC EDGAROther events
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65
  66. 66
  67. 67
  68. 68