DQWS on OTC
DSwiss Inc
DSwiss Inc is an American perfumes company, incorporated in Nevada, listed on OTC (DQWS).1
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Last updated Oct 21, 2026.
Overview
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- TickerDQWS on OTC1
- IndustryPerfumes, Cosmetics & Other Toilet Preparations1
- HeadquartersNV1
- Incorporated inNV3
- Business addressUnit 18-11, 18-12 & 18-01, Tower A,, Vertical Business Suite, Bangsar South,, Kuala Lumpur, N8 592003
- Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company3
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Analysis and Critical Control Points), JAKIM Halal, ISO, and MESTI, ensuring excellence at every stage of production.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue78¢$2.4M
- Selling, general and admin21¢$630.6K
- Income tax1¢$16.0K
Out of $2.9M in revenue.2 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| REVENUE (including $13,366 and $7,725 of revenue from a related party for the year ended December 31, 2025 and 2024 respectively) | $2.9M | $3.1M |
| COST OF REVENUE (including $0 and $8,236 of purchases from a related party for the year ended December 31, 2025 and 2024 respectively) | -$2.4M | -$2.5M |
| GROSS PROFIT | $564.6K | $623.3K |
| OTHER INCOME | $40.2K | $13.3K |
| SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (including $10,293 and $12,600 of general and administrative expenses to a related party for the year ended December 31, 2025 and 2024 respectively) | -$630.6K | -$603.7K |
| OPERATING EXPENSES | -$1.2K | -$1.2K |
| FINANCE COST | -$14.3K | -$1.5K |
| LEASE EXPENSES | -$19.5K | |
| (LOSS)/PROFIT BEFORE INCOME TAX | -$60.9K | $30.1K |
| INCOME TAXES PROVISION | -$16.0K | -$7.9K |
| NET (LOSS)/INCOME | -$76.9K | $22.2K |
| - Foreign currency translation adjustment | -$6.5K | -$4.6K |
| COMPREHENSIVE (LOSS)/INCOME | -$83.4K | $17.6K |
| Net (loss) profit per share - Basic | -$0.00 | $0.00 |
| Net (loss) profit per share - Diluted | -$0.00 | $0.00 |
| Weighted average number of common shares outstanding - Basic | 206.9M shares | 206.9M shares |
| Weighted average number of common shares outstanding - Diluted | 206.9M shares | 206.9M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2025-02-28 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents (including $76,857 and $137,152 of time deposits as of December 31, 2025 and December 31, 2024 respectively) | $285.0K | $397.5K | ||
| Accounts receivables | $17.4K | $74.6K | ||
| Other receivables, prepaid expenses, and deposit | $27.0K | $22.2K | ||
| Inventories | $2.3K | $3.4K | ||
| Total current assets | $331.8K | $497.7K | ||
| Plant and equipment, net | $189.4K | $136.8K | ||
| Intangible assets, net | $409 | $1.4K | ||
| Operating lease right-of-use assets, net | $155.6K | $161.1K | ||
| Total non-current assets | $345.4K | $138.2K | ||
| TOTAL ASSETS | $677.1K | $635.8K | ||
| Accounts payables (including $91 and $818 payable to a related party as of December 31, 2025 and December 31, 2024 respectively) | $113.1K | $153.0K | ||
| Other payables and accrued liabilities (including $0 and $3,000 of general and administrative expenses payable to a related party as of December 31, 2025 and December 31, 2024 respectively) | $289.5K | $302.3K | ||
| Finance lease liability | $35.2K | $28.5K | ||
| Operating lease liability | $26.1K | |||
| Tax payable | $1.6K | $108 | ||
| Total current liabilities | $465.5K | $484.0K | ||
| Finance lease liability | $91.5K | $77.8K | ||
| Operating lease liability | $129.5K | |||
| Total non-current liability | $221.0K | $77.8K | ||
| TOTAL LIABILITIES | $686.5K | $561.8K | ||
| Common stock, $0.0001 par value, 600,000,000 shares authorized, 206,904,585 shares and 206,904,585 shares issued and outstanding as of December 31, 2025 and 2024 respectively | $20.7K | $20.7K | ||
| Additional paid-in capital | $1.4M | $1.4M | ||
| Accumulated other comprehensive income | $39.3K | $45.9K | ||
| Accumulated deficit | -$1.5M | -$1.4M | ||
| TOTAL STOCKHOLDERS EQUITY | -$9.3K | $74.0K | $56.4K | |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | $677.1K | $635.8K | ||
| Time deposits | $76.9K | $137.2K | ||
| Preferred stock, par value | $0.00 | $0.00 | ||
| Preferred stock, shares authorized | 200.0M shares | 200.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, par value | $0.00 | $0.00 | ||
| Common stock, shares authorized | 600.0M shares | 600.0M shares | ||
| Common stock, shares issued | 206.9M shares | 206.9M shares | ||
| Common stock, shares outstanding | 206.9M shares | 206.9M shares |
| Period ending | 2025-12-31 | 2025-02-28 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents (including $76,857 and $137,152 of time deposits as of December 31, 2025 and December 31, 2024 respectively) | $285.0K | $397.5K | ||
| Accounts receivables | $17.4K | $74.6K | ||
| Other receivables, prepaid expenses, and deposit | $27.0K | $22.2K | ||
| Inventories | $2.3K | $3.4K | ||
| Total current assets | $331.8K | $497.7K | ||
| Plant and equipment, net | $189.4K | $136.8K | ||
| Intangible assets, net | $409 | $1.4K | ||
| Operating lease right-of-use assets, net | $155.6K | $161.1K | ||
| Total non-current assets | $345.4K | $138.2K | ||
| TOTAL ASSETS | $677.1K | $635.8K | ||
| Accounts payables (including $91 and $818 payable to a related party as of December 31, 2025 and December 31, 2024 respectively) | $113.1K | $153.0K | ||
| Other payables and accrued liabilities (including $0 and $3,000 of general and administrative expenses payable to a related party as of December 31, 2025 and December 31, 2024 respectively) | $289.5K | $302.3K | ||
| Finance lease liability | $35.2K | $28.5K | ||
| Operating lease liability | $26.1K | |||
| Tax payable | $1.6K | $108 | ||
| Total current liabilities | $465.5K | $484.0K | ||
| Finance lease liability | $91.5K | $77.8K | ||
| Operating lease liability | $129.5K | |||
| Total non-current liability | $221.0K | $77.8K | ||
| TOTAL LIABILITIES | $686.5K | $561.8K | ||
| Common stock, $0.0001 par value, 600,000,000 shares authorized, 206,904,585 shares and 206,904,585 shares issued and outstanding as of December 31, 2025 and 2024 respectively | $20.7K | $20.7K | ||
| Additional paid-in capital | $1.4M | $1.4M | ||
| Accumulated other comprehensive income | $39.3K | $45.9K | ||
| Accumulated deficit | -$1.5M | -$1.4M | ||
| TOTAL STOCKHOLDERS EQUITY | -$9.3K | $74.0K | $56.4K | |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | $677.1K | $635.8K | ||
| Time deposits | $76.9K | $137.2K | ||
| Preferred stock, par value | $0.00 | $0.00 | ||
| Preferred stock, shares authorized | 200.0M shares | 200.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, par value | $0.00 | $0.00 | ||
| Common stock, shares authorized | 600.0M shares | 600.0M shares | ||
| Common stock, shares issued | 206.9M shares | 206.9M shares | ||
| Common stock, shares outstanding | 206.9M shares | 206.9M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net (loss)/income | -$76.9K | $22.2K |
| Depreciation and amortization | $63.9K | $17.6K |
| Amortization of intangible assets | $987 | $1.0K |
| Gain on disposal of plant and equipment | -$31.0K | |
| Accounts receivable | $64.8K | -$21.9K |
| Accounts payable | -$55.4K | $32.4K |
| Inventories | $1.3K | $3.7K |
| Other payables and accrued liabilities | -$41.2K | $124.1K |
| Other receivables, prepaid expenses, and deposit | -$2.6K | $3.0K |
| Tax payable | $2.2K | $408 |
| Reduction in lease liability | -$20.5K | |
| Net cash (used in)/ generated from operating activities | -$94.3K | $182.6K |
| Purchase of plant and equipment | -$41.0K | -$105.5K |
| Proceed from disposal of plant and equipment | $32.5K | $291 |
| Net cash used in investing activities | -$8.5K | -$105.3K |
| Addition of finance lease | $96.8K | |
| Repayment of finance lease | -$34.7K | -$28.5K |
| Net cash (used in)/ generated from financing activities | -$34.7K | $68.3K |
| Effect of exchange rate changes on cash and cash equivalents | $25.1K | $2.8K |
| Net change in cash and cash equivalents | -$112.4K | $148.4K |
| Income taxes paid | -$14.6K | -$7.5K |
| Interest paid | -$5.7K | -$1.5K |
No quarter-by-quarter statement was filed.
What it owns
What DSwiss 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
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $375.5K2 Dec 31, 2025 | $370.5K2 Dec 31, 2024 | +1.4% |
| Accumulated depreciation | $187.2K2 Dec 31, 2025 | $223.2K2 Dec 31, 2024 | −16.1% |
| Property and equipment, net | $189.4K2 Dec 31, 2025 | $136.8K2 Dec 31, 2024 | +38.5% |
| Operating-lease assets (leased space) | $155.6K2 Dec 31, 2025 | $161.1K2 Mar 1, 2025 | −3.4% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $285.0K2 Dec 31, 2025 | $397.5K2 Dec 31, 2024 | −28.3% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $4092 Dec 31, 2025 | $1.4K2 Dec 31, 2024 | −70.8% |
| Accumulated amortization | $11.2K2 Dec 31, 2025 | $10.2K2 Dec 31, 2024 | +9.6% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $2.3K2 Dec 31, 2025 | $3.4K2 Dec 31, 2024 | −29.9% |
| Finished goods | $2.3K2 Dec 31, 2025 | $3.4K2 Dec 31, 2024 | −29.9% |
Properties, in its own words
Our principal executive office is located at No. B-10-08, Vertical Business Suite, Bangsar South City, No. 8 Jalan Kerinchi, 59200 Kuala Lumpur, Malaysia. This location has been rented by DSwiss Sdn Bhd for a 36-month period from March 1, 2025 to February 28, 2028, for an initial deposit of MYR 48,000 (approximately $11,827) and additional monthly payments in the amount of MYR 12,000 (approximately $2,814) over the course of the lease. The office lease is ending on February 28, 2028.
In December 2021, the Company obtained a loan in the principal amount of MYR180,000 (approximately $43,134) from Public Bank Berhad, a financial institution in Malaysia, to finance the acquisition of a motor vehicle. The loan bears interest at the base lending rate less 3.89% per annum, is payable in 60 monthly instalments of MYR3,306 (approximately $792) each and matures in November 2026.
The rest of Item 2
As of December 31, 2025, the Company has an outstanding loan to be settle for aforementioned acquisition of motor vehicle of MYR36,366 (approximately $8,960), to be settled in 11 instalments after year 2025.
In December 2024, the Company had obtained another loan financing in the principal amount of MYR387,000 (approximately $86,568) from Hong Leong Bank Berhad, a financial institution in Malaysia, to finance the acquisition of a motor vehicle. The loan bears interest at the base lending rate less 2.74% per annum, is payable in 60 monthly instalments of MYR7,334 (approximately $1,641) each and matures in November 2029.
As of December 31, 2025, the Company has an outstanding loan to be settle for aforementioned acquisition of motor vehicle of MYR344,677 (approximately $84,927), of which MYR88,008 (approximately $21,685) to be settled in 12 instalments in year 2026 and MYR256,669 (approximately $63,242) to be settled in 35 instalments after year 2026.
In August 2025, the Company had further obtained a loan financing in the principal amount of MYR180,000 (approximately $44,351) from Public Bank Berhad, a financial institution in Malaysia, to finance the acquisition of a motor vehicle. The loan bears interest at the base lending rate less 2.28% per annum, is payable in 60 monthly instalments of MYR3,342 (approximately $823) each and matures in July 2030.
As of December 31, 2025, the Company has an outstanding loan to be settle for aforementioned acquisition of motor vehicle of MYR183,810 (approximately $45,290), of which MYR40,104 (approximately $9,881) to be settled in 12 instalments in year 2026 and MYR143,706 (approximately $35,408) to be settled in 43 instalments after year 2026.
Loan acquired for the acquisition of motor vehicles mentioned above are denominated in MYR, of which subjected to the fluctuation in reporting currency.
Item 2 of the 10-K filed Mar 31, 2026.4
Leadership
Who has led DSwiss Inc, and when. Pick a name to see everywhere that person has worked.
- Chief executive officerMing Chia Leong Aug 10, 2016 to Aug 10, 201615
- Chief financial officerLee Yee Chua Aug 10, 2016 to Aug 10, 201616
Board members and other officers (4)
- Board memberLee Yee Chua Aug 10, 2016 to Aug 10, 201616
- Board memberMing Chia Leong Aug 10, 2016 to Aug 10, 201615
- Board memberWing Wai Heung Aug 10, 2016 to Aug 10, 201617
- Board memberZhee Long Cheng Aug 10, 2016 to Aug 10, 201618
Timeline
Filings
22 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 2 major events. The latest 20:
- Aug 14, 202610-Q EDGAR
- May 15, 202610-Q EDGAR
- Mar 31, 202610-K EDGAR
- Nov 14, 202510-Q EDGAR
- Oct 6, 20258-K EDGAR
- Aug 14, 202510-Q EDGAR
- May 15, 202510-Q EDGAR
- Mar 31, 202510-K EDGAR
- Nov 14, 202410-Q EDGAR
- Aug 14, 202410-Q EDGAR
- May 15, 202410-Q EDGAR
- Mar 29, 202410-K EDGAR
- Nov 14, 202310-Q EDGAR
- Aug 14, 202310-Q EDGAR
- May 15, 202310-Q EDGAR
- Mar 31, 202310-K EDGAR
- Jan 20, 20238-K EDGAR
- Nov 14, 202210-Q EDGAR
- Aug 12, 202210-Q EDGAR
- May 13, 202210-Q EDGAR
The 22 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.
SEC filer profile
How DSwiss Inc is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARDSwiss Inc1
- CIK0001652561
- Employer ID (EIN)47-42155954
- Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; a shell company4
- Incorporated inNevada4
- Fiscal year endsDecember 311
- Industry code (SIC)2844 Perfumes, Cosmetics & Other Toilet Preparations1
- SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
- Business addressUnit 18-11, 18-12 & 18-01, Tower A,, Vertical Business Suite, Bangsar South,, Kuala Lumpur, N8 592001
- Phone(603)2770-40321
- Shares outstanding206,904,585 as of Jun 30, 202611
- Public float$0 as of Jun 30, 20252
- AuditorJP CENTURION & PARTNERS PLT, Kuala Lumpur, Malaysia PCAOB ID 67234
- On EDGAR sinceNov 18, 20151
- Filings77 in all: 10-Q (31), 10-K (10), S-1/A (8), 8-K (7), UPLOAD (7), 3 (5), 10-K/A (3), CORRESP (1)1
All 13 form types
CT ORDER (1), EFFECT (1), NT 10-K (1), NT 10-Q (1), S-1 (1)
- Latest filingsAnnual report (10-K) Mar 31, 2026
Quarterly report (10-Q) Aug 14, 2026
Latest 8-K (8-K) Oct 6, 2025
Risk factors and legal proceedings
Legal proceedings
From time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. Litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. There are currently no pending legal proceedings or claims that we believe will have a material adverse effect on our business, financial condition or operating results. None of our directors, officers or affiliates is involved in a proceeding adverse to our business or has a material interest adverse to our business.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARDSwiss Inc filings on SEC EDGAR
- 2SEC EDGARDSwiss Inc 10-K for fiscal 2025
- 3SEC EDGARDSwiss Inc filings on SEC EDGAR
- 4
- 5SEC EDGARDSwiss Inc 10-K for fiscal 2018
- 6SEC EDGARDSwiss Inc 10-K for fiscal 2019
- 7SEC EDGARDSwiss Inc 10-K for fiscal 2020
- 8SEC EDGARDSwiss Inc 10-K for fiscal 2021
- 9SEC EDGARDSwiss Inc 10-K for fiscal 2022
- 10SEC EDGARDSwiss Inc 10-K for fiscal 2023
- 11SEC EDGARDSwiss Inc 10-Q for fiscal 2025
- 12SEC EDGARDSwiss Inc 10-Q for fiscal 2025
- 13SEC EDGARDSwiss Inc 10-Q for fiscal 2026
- 14SEC EDGARDSwiss Inc 10-Q for fiscal 2025
- 15
- 16
- 17SEC EDGARWing Wai Heung, Board member
- 18SEC EDGARZhee Long Cheng, Board member
- 19SEC EDGARExecutive or director change
- 20SEC EDGARCompleted an acquisition or sale