Private company
SCIENTIFIC ENERGY, INC
SCIENTIFIC ENERGY, INC is an American patent owners and lessors company, incorporated in Utah.1
Last updated Oct 21, 2026.
Overview
- IndustryPatent Owners & Lessors1
- HeadquartersUT1
- Incorporated inUT2
- Business addressRoom M, 21F, Tong Nam A Commercial Ctr, 180 Alameda Dr Carlos Dassumpcao, Macau, N5 000002
- Filer categoryNon-accelerated filer, Smaller reporting company2
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Scientific Energy, Inc. (together with its subsidiaries, the “Company,” “we,” “us” or “our”) was incorporated under the laws of the State of Utah on May 30, 2001. From 2001 to 2021, the Company had endeavored a number of business activities, from developing and manufacturing various energy generation devices and energy efficient mechanisms to engaging in a business of e-commerce platform, but weren’t successful.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 2024
Where the money goes
Where each dollar of revenue went, fiscal 2024
- Other costs100¢$68.6M
- Income tax0¢$7.8K
Out of $68.6M in revenue.5
Financial statements
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Revenue | $06 | $07 | $08 | $10.0M9 | $44.1M10 | $39.0M5 | $68.6M5 |
| Cost of revenue | $06 | $07 | $08 | $7.7M9 | $30.9M10 | $21.1M10 | |
| Gross profit | $06 | $07 | $08 | $2.4M9 | $13.2M10 | $17.9M10 | |
| Selling, general and admin | $341.1K13 | ||||||
| Operating expenses | $3.3M9 | $17.1M10 | $16.0M10 | ||||
| Operating income | -$341.4K6 | -$523.6K7 | -$473.0K8 | -$959.0K9 | -$3.8M10 | $1.9M10 | |
| Income before tax | -$988.1K9 | -$3.8M10 | $1.8M10 | ||||
| Income tax | $06 | $07 | $08 | $09 | $010 | $8.8K5 | $7.8K5 |
| Net income | -$342.9K6 | -$544.3K7 | -$461.5K8 | -$967.7K9 | -$3.8M10 | $2.1M10 |
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Cash | $153.0K7 | $84.6K8 | $14.5K8 | $4.9M9 | $2.7M10 | $3.2M10 | |
| Receivables | $842.9K9 | $1.1M10 | $1.3M5 | $5.3M5 | |||
| Inventory | $255.3K9 | $108.2K10 | $67.6K5 | $161.8K5 | |||
| Current assets | $160.1K6 | $87.4K7 | $14.5K8 | $9.8M9 | $7.6M10 | $7.3M10 | |
| Property, plant and equipment | $77.0K9 | $78.6K10 | $192.3K5 | $251.5K5 | |||
| Goodwill | $71.7M9 | $71.7M5 | $37.3M5 | $36.4M5 | |||
| Intangible assets | $1.2M9 | $1.0M10 | $1.4M5 | $1.2M5 | |||
| Total assets | $181.7K6 | $123.3K7 | $80.9K8 | $83.9M9 | $81.2M10 | $81.9M10 | |
| Accounts payable | $6.2M9 | $6.8M10 | $5.1M10 | ||||
| Current liabilities | $1.6M6 | $2.1M7 | $2.5M8 | $12.6M9 | $13.4M10 | $13.3M10 | |
| Long-term liabilities | $668.3K9 | $884.6K10 | $66.9K10 | ||||
| Total liabilities | $1.6M13 | $2.5M8 | $13.3M9 | $14.3M10 | $13.3M10 | ||
| Retained earnings | -$10.3M9 | -$14.0M10 | -$11.9M10 | -$47.7M5 | |||
| Shareholders’ equity | -$1.4M6 | -$2.0M7 | -$2.4M8 | $70.7M9 | $67.1M10 | $69.2M10 | $31.2M5 |
| Shares outstanding | 114.9M shares6 | 114.9M shares7 | 114.9M shares8 | 263.3M shares9 | 263.3M shares10 | 263.3M shares5 | 263.3M shares5 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Cash from operations | -$345.4K6 | -$520.6K7 | -$447.7K8 | -$4.8M9 | -$3.4M10 | -$656.7K10 | |
| Depreciation and amortization | $67.6K9 | $185.1K10 | $105.2K10 | ||||
| Capital spending | $1.6K6 | $1.3K7 | $08 | $22.4K9 | $51.5K10 | $177.8K10 | |
| Free cash flow | -$347.0K | -$521.9K | -$447.7K | -$4.8M | -$3.4M | -$834.5K | |
| Cash from investing | -$1.8M9 | $303.2K10 | $460.1K10 | ||||
| Cash from financing | $11.7M9 | $24.2K10 | $1.3M10 |
Corporate structure
SCIENTIFIC ENERGY, INC sits at the top of its group. 11 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of SCIENTIFIC ENERGY, INC
- Elate Holdings Ltd Filed SC 13G on SCIENTIFIC ENERGY, INC, latest Nov 1, 2022
- SCIENTIFIC ENERGY, INC UT
- Celebrity Chef Catering Management Limited Subsidiary · Hong Kong
- Citysearch Technology (HK) Company Limited Subsidiary · Hong Kong
- FRESH LIFE Technology Company Ltd Subsidiary · Macau
- Green Supply Chain Management Company Limited Subsidiary · Macau
- Macao E-Media Development Company Limited Subsidiary · Macau
- Sinoforte Limited Subsidiary · Hong Kong
- Zhuhai Aomi E-commerce Company Limited Subsidiary · China
- Zhuhai Chengmi Technology Company Limited Subsidiary · China
- Zhuhai Migua Technology Company Limited Subsidiary · China
- Zhuhai Wanmi Technology Company Limited Subsidiary · China
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 SCIENTIFIC ENERGY, 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 |
|---|---|---|---|
| Machinery and equipment | $329.0K5 Dec 31, 2024 | $243.2K5 Dec 31, 2023 | +35.3% |
| Furniture and fixtures | $52.3K5 Dec 31, 2024 | $41.7K5 Dec 31, 2023 | +25.3% |
| Property and equipment, before depreciation | $192.3K10 Dec 31, 2023 | $78.6K10 Dec 31, 2022 | +144.8% |
| Accumulated depreciation | $136.2K5 Dec 31, 2024 | $98.9K5 Dec 31, 2023 | +37.6% |
| Property and equipment, net | $251.5K5 Dec 31, 2024 | $192.3K5 Dec 31, 2023 | +30.8% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $3.2M10 Dec 31, 2023 | $2.7M10 Dec 31, 2022 | +18.2% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $36.4M5 Dec 31, 2024 | $37.3M5 Dec 31, 2023 | −2.6% |
| Finite-lived intangibles, gross | $2.3M5 Dec 31, 2024 | $2.3M5 Dec 31, 2023 | −2.2% |
| Finite-lived intangibles, net | $1.2M5 Dec 31, 2024 | $1.4M5 Dec 31, 2023 | −12.4% |
Inventory
Properties, in its own words
We do not own any properties. We entered into lease agreements for our offices located in Macau, Hong Kong, and Zhuhai, China, totaling approximately 44,521.48 square feet.
We believe these facilities are in good condition and sufficient for our current needs but may need to seek additional or expanded facilities if our business continues to grow, and we believe that suitable additional or alternative space will be available as needed to accommodate any such growth.
Item 2 of the 10-K filed May 28, 2025.4
Leadership
Who has led SCIENTIFIC ENERGY, INC, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
- Chief executive officerStanley P.c. Chan May 31, 2006 to May 14, 201214
- PresidentTodd B. Crosland Apr 14, 2006 to Apr 14, 200615
- PresidentStanley P.c. Chan May 31, 2006 to May 14, 201214
- Chief financial officerStanley P.c. Chan May 14, 2012 to May 14, 201216
- Chief financial officerTodd B. Crosland Apr 14, 2006 to Apr 14, 200615
Board members and other officers (6)
- Secretary, DirectorJana K. Meyer Apr 14, 2006 to Apr 14, 200617
- Board memberDale C. Gledhill Apr 14, 2006 to Apr 14, 200618
- Board memberJana K. Meyer Apr 14, 2006 to Apr 14, 200617
- Board memberMark Clawson Apr 14, 2006 to Apr 14, 200619
- Board memberTodd B. Crosland Apr 14, 2006 to Apr 14, 200615
- Board memberStanley P.c. Chan May 31, 2006 to May 14, 201214
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Celebrity Chef Catering Management Limited Hong Kong3
- Citysearch Technology (HK) Company Limited Hong Kong3
- FRESH LIFE Technology Company Ltd Macau3
- Green Supply Chain Management Company Limited Macau3
- Macao E-Media Development Company Limited Macau3
- Sinoforte Limited Hong Kong3
- Zhuhai Aomi E-commerce Company Limited China3
- Zhuhai Chengmi Technology Company Limited China3
- Zhuhai Migua Technology Company Limited China3
- Zhuhai Wanmi Technology Company Limited China3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- SCIENTIFIC ENERGY INCJan 28, 2004 to May 14, 20202
Timeline
- Dec 22, 20258-K Listing notice or transfer20
- Jan 13, 20258-K Change of auditor21
- Mar 27, 20248-K Entered a material agreement22
- Mar 18, 20248-K Entered a material agreement; Unregistered sale of shares23
- Jan 19, 20248-K Entered a material agreement24
- Dec 27, 20238-K Other events25
- Jul 13, 20238-K Entered a material agreement; Unregistered sale of shares26
- May 31, 2006New chief executive Stanley P.c. Chan becomes CEO14
Filings
60 filings to the SEC since October 2021: 7 annual reports, 14 quarterly reports, 7 major events, 2 insider forms, 1 large holders, 29 other. The latest 20:
- Dec 22, 20258-K NOTICE OF DELISTING EDGAR
- Dec 22, 202515-12G NOTICE OF TERMINATION OF REGISTRATION EDGAR
- Dec 15, 202510-Q SCIENTIFIC ENERGY, INC. - FORM 10-Q SEC FILING EDGAR
- Nov 13, 2025NT 10-Q NOTIFICATION OF LATE FILING EDGAR
- Sep 2, 202510-Q SCIENTIFIC ENERGY, INC. - FORM 10-Q SEC FILING EDGAR
- Aug 12, 2025NT 10-Q NOTIFICATION OF LATE FILING EDGAR
- Jun 30, 202510-Q SCIENTIFIC ENERGY, INC. - FORM 10-Q SEC FILING EDGAR
- May 28, 202510-K SCIENTIFIC ENERGY, INC - FORM 10-K SEC FILING EDGAR
- May 16, 2025NT 10-Q NOTIFICATION OF LATE FILING EDGAR
- Mar 27, 2025NT 10-K LATE FILING FOR 10-K 2024 EDGAR
- Mar 25, 2025UPLOAD EDGAR
- Mar 13, 2025CORRESP EDGAR
- Mar 13, 202510-K/A 10-K/A NO.3 FOR FISCAL YEAR 2023 EDGAR
- Feb 26, 2025CORRESP EDGAR
- Feb 18, 2025UPLOAD EDGAR
- Jan 13, 20258-K 8-K CHANGE OF AUDITOR EDGAR
- Nov 21, 202410-Q SCIENTIFIC ENERGY, INC. - FORM 10-Q SEC FILING EDGAR
- Nov 13, 2024NT 10-Q NOTIFICATION OF LATE FILING EDGAR
- Sep 30, 2024CORRESP EDGAR
- Sep 30, 202410-K/A SCIENTIFIC ENERGY, INC - FORM 10-K SEC FILING EDGAR
The 60 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.
- Elate Holdings LtdSC 13G, 1 filing Nov 1, 202227
SEC filer profile
How SCIENTIFIC ENERGY, INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARSCIENTIFIC ENERGY, INC1
- CIK0001276531
- Employer ID (EIN)87-06806574
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
- Incorporated inUtah4
- Fiscal year endsDecember 311
- Industry code (SIC)6794 Patent Owners & Lessors1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business addressRoom M, 21F, Tong Nam A Commercial Ctr, 180 Alameda Dr Carlos Dassumpcao, Macau, N5 000001
- Phone852-2530-20891
- Shares outstanding263,337,500 as of Dec 15, 202512
- Public float$107.7M as of 4
- AuditorAOGB CPA Limited, Hong Kong, Hong Kong PCAOB ID 7020; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceJan 28, 20041
- Filings233 in all: 10-Q (53), 8-K (34), NT 10-Q (31), 10-K (17), NT 10-K (15), UPLOAD (12), 10QSB (11), 4 (10)1
All 31 form types
3 (8), 10-Q/A (6), 10-K/A (5), CORRESP (5), 10KSB (4), 8-K/A (3), DEF 14A (2), PRE 14A (2), 10SB12G (1), 15-12G (1), 3/A (1), 4/A (1), 424B1 (1), 8-A12G (1), PRE 14C (1), PRER14C (1), RW (1), SB-2 (1), SB-2/A (1), SC 13D (1), SC 13D/A (1), SC 13G (1), SC 14F1 (1)
- Latest filingsAnnual report (10-K) May 28, 2025
Quarterly report (10-Q) Dec 15, 2025
Proxy statement (DEF 14A) Sep 13, 2010
Latest 8-K (8-K) Dec 22, 2025
Risk factors and legal proceedings
The risks SCIENTIFIC ENERGY, INC names in Item 1A of its 10-K filed May 28, 2025: 80 risks under these headings, as written.4
- ·Uncertainties with respect to the PRC legal system, including uncertainties regarding the enforcement of laws, and sudden or unexpected changes in policies, laws and regulations in China, could adversely affect us.
- ·The Chinese government may intervene in or influence our operations in the Mainland China, or Macau at any time or may exert more control over offerings conducted overseas and/or foreign investment in us, which could result in a material change in our operations and and/or the value of our securities.
- ·If the Chinese government chooses to exert more oversight and control over offerings that are conducted overseas and/or foreign investment in China-based issuers, such action could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and cause the value of such securities to significantly decline or be worthless.
- ·Our common stock may be delisted and prohibited from trading in the United States under the Holding Foreign Companies Accountable Act, or the HFCAA, as amended by Consolidated Appropriations Act 2023, if the PCAOB is unable to inspect or investigate completely auditors located in Mainland China and Hong Kong. The delisting of our common stock or the threat of their being delisted could cause the value of our common stock to significantly decline or be worthless, and thus you could lose all or substantial portion of your investment.
- ·There are significant uncertainties regarding the interpretation of PRC laws, rules, and regulations, which may change at any time with little advance notice and could limit the legal protections available to us.
- ·The enforcement of laws, rules, and regulations in China can change quickly with little advance notice. Similarly, the PRC laws and regulations and the enforcement of such that apply or are to be applied to Macau can change quickly with little or no advance notice. As a result, the Macau legal system presents uncertainties which could limit the availability of legal protections. Such uncertainties could lead to material changes in the operations of our Macau-based subsidiary and/or adversely impact the value of our common stock.
- ·Recent interventions by the PRC government in the business activities of U.S.-listed, China-based companies may negatively impact our operations in Macau.
- ·If certain PRC laws and regulations were to become applicable to a company like us, our business, financial condition, and results of operations, as well as the value of our common stock and our ability to offer or continue offering securities to investors could be materially and adversely affected. In such a scenario, we may face risks and uncertainties associated with the evolving PRC legal and regulatory landscape, including the interpretation and enforcement of laws, potential regulatory changes, and the broader complexities of the PRC legal system.
- ·It may be difficult for overseas regulators to conduct investigations or collect evidence within the territory of China, including Macau and Hong Kong.
- ·There may be difficulties in effecting service of legal process, conducting investigations, collecting evidence, enforcing foreign judgments or bringing original actions in China based on United States or other foreign laws against us and our management.
- ·Adverse regulatory developments in China may subject us to heightened regulatory review and additional compliance requirements. In response to risks associated with recent regulatory changes in China, the SEC may adopt new disclosure requirements and enhanced regulatory scrutiny for companies like ours with Macau- and Hong Kong-based operations. These measures could increase our compliance costs and require us to meet additional disclosure obligations, potentially impacting our operations and regulatory burden.
- ·If the Chinese government were to increase its oversight and control or impose new approval requirements from PRC authorities for issuing our common stock to foreign investors or listing on a foreign exchange, such actions could severely restrict or entirely prevent our ability to offer or continue offering securities to investors. This could result in a significant decline in the value of our securities or render them worthless.
The other 68 risks
- ·Recent increased oversight by the Cyberspace Administration of China (“CAC”) regarding data security, particularly for companies seeking to list on a foreign exchange, could negatively impact our food and grocery ordering and delivery business in Macau if our online food ordering platform directly targets Mainland China consumers.
- ·The M&A Rules and certain other PRC regulations concerning anti-monopoly impose complex procedures on certain acquisitions of Chinese companies by foreign investors, potentially making it more difficult for us to pursue growth through acquisitions in China.
- ·There are political risks associated with conducting business in Macau.
- ·Fluctuations in the value of the Pataca, Hong Kong dollar, or RMB may negatively impact our expenses and profitability.
- ·There is substantial doubt regarding our ability to continue as a going concern.
- ·Our revenue heavily depends on a limited customer base, a trend likely to continue.
- ·If we fail to retain our existing merchants and consumers or acquire new merchants and consumers in a cost-effective manner, our revenue, revenue growth, and margins may decrease and our business, financial condition, and results of operations could be adversely affected.
- ·We face intense competition and if we are unable to compete effectively, our business, financial condition, and results of operations would be adversely affected.
- ·We rely on merchants on our platform for many aspects of our business, and to the extent they fail to maintain their service levels or increase the prices they charge consumers on our platform, our business would be adversely affected.
- ·We are subject to payment-related risks, and if payment processors are unwilling or unable to provide us with payment processing service or impose onerous requirements on us in order to access their services, or if they increase the fees they charge us for these services, our business and results of operations could be harmed.
- ·We rely on third parties, including our payment processor, cloud providers and data center host, and if these or other third parties do not perform adequately or terminate their relationships with us, our costs may increase and our business and results of operations could be harmed.
- ·Graphite mineral prices are subject to dramatic and unpredictable fluctuations.
- ·The graphite industry is highly competitive. Our market share, net sales or net income could decline due to vigorous price and other competition.
- ·Our future sales opportunities depend, to a large extent, on the growth of markets for electronic vehicles and other graphite-based battery applications. These applications may develop slower or at a size that is less than expected, to the extent they develop at all.
- ·Our business and our partners are subject to market changes in the availability and cost of electricity and fuel that could adversely affect our business.
- ·We are subject to a variety of legal, economic, social and political risks associated with the nature of our business in association with natural resources, with customers scattered all around the world, which could have a material adverse effect on our financial and business operations.
- ·We are currently operating in a period significantly affected by geopolitical instability. Our business, financial condition, and operational results may be materially adversely impacted by any negative effects on the global economy stemming from these conflicts and geopolitical tensions. This is especially pertinent in light of the ongoing military conflict between Russia and Ukraine, as well as the unrest in the Middle East.
- ·We rely on, and will continue to rely on, third parties for the provision of graphite ores or graphite products as the key for our operations, which involves a significant degree of risk and uncertainty in terms of quality or quantity of the ore/product supply in a timely and cost-saving manner.
- ·Our reliance on third parties to manufacture and process certain of our graphite products subjects us to certain risks, for example, if they fail to comply with environmental, health, and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on the success of our business.
- ·If existing customers do not place purchasing orders from us or renew purchasing agreements with us, and we fail to expand new customer pool, our revenue could fall, and our results of operations would be adversely impacted.
- ·We may not respond quickly and profitably to the cutting-the-edge innovations or technologies in the graphite industry.
- ·Our graphite products sales history is limited. Our ability to generate revenue is subject to a number of factors, any one or more of which may adversely affect our financial condition and operating results.
- ·If we fail to effectively implement our sales, marketing, and service strategies, our sales growth will be hindered, negatively impacting our operational results
- ·Because our common stock is deemed a low-priced "Penny" stock, an investment in our common stock should be considered high risk and subject to marketability restrictions.
- ·There currently is only a minimal liquid public market for our common stock. Failure to develop or maintain a liquid public trading market could negatively affect the value of our common stock and make it difficult or impossible for stockholders to sell their shares when desired or at desired prices.
- ·We may, in the future, issue additional common shares, which would reduce investors’ percent of ownership and may dilute the Company’s share value.
- ·There is a limited market for the Company’s common stock, which may make it difficult for holders of the Company’s common stock to sell their stock.
- ·We have never declared or paid cash dividends on our capital stock and we do not anticipate paying any cash dividends in the foreseeable future.
- Under the long-arm provisions of current PRC laws and regulations, the Chinese government may exercise significant oversight and discretion over our business operations in Macau. It has the authority to intervene or influence our operations at any time, potentially leading to material changes in our business or the value of our common stock. Additionally, increased government
- Uncertainties with respect to the PRC legal system, including uncertainties regarding the enforcement of laws, and sudden or unexpected changes in policies, laws and regulations in China, could adversely affect us.
- The Chinese government may intervene in or influence our operations in the Mainland China, or Macau at any time or may exert more control over offerings conducted overseas and/or foreign investment in us, which could result in a material change in our operations and and/or the value of our securities.
- If the Chinese government chooses to exert more oversight and control over offerings that are conducted overseas and/or foreign investment in China-based issuers, such action could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and cause the value of such securities to significantly decline or be worthless.
- Our common stock may be delisted and prohibited from trading in the United States under the Holding Foreign Companies Accountable Act, or the HFCAA, as amended by Consolidated Appropriations Act 2023, if the PCAOB is unable to inspect or investigate completely auditors located in Mainland China and Hong Kong. The delisting of our common stock or the threat of their being delisted could cause the value of our common stock to significantly decline or be worthless, and thus you could lose all or substantial portion of your investment.
- There are significant uncertainties regarding the interpretation of PRC laws, rules, and regulations, which may change at any time with little advance notice and could limit the legal protections available to us.
- The enforcement of laws, rules, and regulations in China can change quickly with little advance notice. Similarly, the PRC laws and regulations and the enforcement of such that apply or are to be applied to Macau can change quickly with little or no advance notice. As a result, the Macau legal system presents uncertainties which could limit the availability of legal protections. Such uncertainties could lead to material changes in the operations of our Macau-based subsidiary and/or adversely impact the value of our common stock.
- Recent interventions by the PRC government in the business activities of U.S.-listed, China-based companies may negatively impact our operations in Macau.
- If certain PRC laws and regulations were to become applicable to a company like us, our business, financial condition, and results of operations, as well as the value of our common stock and our ability to offer or continue offering securities to investors, could be materially and adversely affected. In such a scenario, we may face risks and uncertainties associated with the evolving PRC legal and regulatory landscape, including the interpretation and enforcement of laws, potential regulatory changes, and the broader complexities of the PRC legal system.
- It may be difficult for overseas regulators to conduct investigations or collect evidence within the territory of China, including Macau and Hong Kong.
- There may be difficulties in effecting service of legal process, conducting investigations, collecting evidence, enforcing foreign judgments or bringing original actions in China based on United States or other foreign laws against us and our management.
- Adverse regulatory developments in China may subject us to heightened regulatory review and additional compliance requirements. In response to risks associated with recent regulatory changes in China, the SEC may adopt new disclosure requirements and enhanced regulatory scrutiny for companies like ours with Macau- and Hong Kong-based operations. These measures could increase our compliance costs and require us to meet additional disclosure obligations, potentially impacting our operations and regulatory burden.
- If the Chinese government were to increase its oversight and control or impose new approval requirements from PRC authorities for issuing our common stock to foreign investors or listing on a foreign exchange, such actions could severely restrict or entirely prevent our ability to offer or continue offering securities to investors. This could result in a significant decline in the value of our securities or render them worthless.
- Recent increased oversight by the Cyberspace Administration of China (“CAC”) regarding data security, particularly for companies seeking to list on a foreign exchange, could negatively impact our food and grocery ordering and delivery business in Macau if our online food ordering platform directly targets Mainland China consumers.
- The M&A Rules and certain other PRC regulations concerning anti-monopoly impose complex procedures on certain acquisitions of Chinese companies by foreign investors, potentially making it more difficult for us to pursue growth through acquisitions in China.
- There are political risks associated with conducting business in Macau.
- Fluctuations in the value of the Macau Pataca, Hong Kong dollar, or RMB may negatively impact our expenses and profitability.
- There is substantial doubt regarding our ability to continue as a going concern.
- Failure to raise additional capital to fund future operations could harm our business and results of operations.
- Our revenue heavily depends on a limited customer base, a trend likely to continue.
- If we fail to retain our existing merchants and consumers or acquire new merchants and consumers in a cost-effective manner, our revenue, revenue growth, and margins may decrease and our business, financial condition, and results of operations could be adversely affected.
- We face intense competition and if we are unable to compete effectively, our business, financial condition, and results of operations would be adversely affected.
- We rely on merchants on our platform for many aspects of our business, and to the extent they fail to maintain their service levels or increase the prices they charge consumers on our platform, our business would be adversely affected.
- Systems failures and resulting interruptions in the availability of our websites, mobile applications, or platform could adversely affect our business, financial condition, and results of operations.
- Growth of our business will depend on a strong brand and any failure to maintain, protect and enhance our brand would hurt our ability to retain or expand our base of merchants and customers and our ability to increase their level of engagement.
- We are subject to payment-related risks, and if payment processors are unwilling or unable to provide us with payment processing service or impose onerous requirements on us in order to access their services, or if they increase the fees they charge us for these services, our business and results of operations could be harmed.
- We rely on third parties, including our payment processor, cloud providers and data center host, and if these or other third parties do not perform adequately or terminate their relationships with us, our costs may increase and our business and results of operations could be harmed.
- Cyberattacks or risks related to cybersecurity could have a material effect on our business.
- Our success depends on certain key personnel. We rely on highly skilled and qualified personnel, and if we are unable to continue to attract and retain such qualified personnel it will adversely affect our business.
- Our business, financial condition, and operational results could be significantly impacted by any economic downturns in Macroeconomic environment, especially Macau and PRC.
- Graphite mineral prices are subject to dramatic and unpredictable fluctuations.
- The graphite industry is highly competitive. Our market share, net sales or net income could decline due to vigorous price and other competition.
- Our future sales opportunities depend, to a large extent, on the growth of markets for electronic vehicles and other graphite-based battery applications. These applications may develop slower or at a size that is less than expected, to the extent they develop at all.
- Our business and our partners are subject to market changes in the availability and cost of electricity and fuel that could adversely affect our business.
- We are subject to a variety of legal, economic, social and political risks associated with the nature of our business in association with natural resources, with customers scattered all around the world, which could have a material adverse effect on our financial and business operations.
- We are currently operating in a period significantly affected by geopolitical instability. Our business, financial condition, and operational results may be materially adversely impacted by any negative effects on the global economy stemming from these conflicts and geopolitical tensions. This is especially pertinent in light of the ongoing military conflict between Russia and Ukraine, as well as the unrest in the Middle East.
- We rely on, and will continue to rely on, third parties for the provision of graphite ores or graphite products as the key for our operations, which involves a significant degree of risk and uncertainty in terms of quality or quantity of the ore/product supply in a timely and cost-saving manner.
- Our reliance on third parties to manufacture and process certain of our graphite products subjects us to certain risks, for example, if they fail to comply with environmental, health, and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on the success of our business.
- We depend on third parties for certain transportation, warehousing and logistics services.
- If existing customers do not place purchasing orders from us or renew purchasing agreements with us, and we fail to expand new customer pool, our revenue could fall, and our results of operations would be adversely impacted.
Legal proceedings
From time-to-time, we are involved in legal proceedings relating to claims arising out of our operations in the normal course of business. It is our policy to record accruals for legal contingencies to the extent that we have concluded that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated, and to expense costs associated with loss contingencies, including any related legal fees, as they are incurred. As of December 31, 2024, and through the filing date of this Form 10-K, there were no such actions or proceedings, either individually or in the aggregate, that, if decided adversely to our interests, we believe would be material 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.
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- 15SEC EDGARTodd B. Crosland, President
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- 17SEC EDGARJana K. Meyer, Secretary, Director
- 18SEC EDGARDale C. Gledhill, Board member
- 19SEC EDGARMark Clawson, Board member
- 20SEC EDGARListing notice or transfer
- 21SEC EDGARChange of auditor
- 22SEC EDGAREntered a material agreement
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- 24SEC EDGAREntered a material agreement
- 25SEC EDGAROther events
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