What the changes say
- The company abandoned biotechnology and now depends on commercializing FinTruth, with no significant AI revenue yet.
- The new risk section emphasizes enterprise AI execution, competition, regulation, cloud dependencies, intellectual property and technical reliability.
- Financing, cash flow and ownership risks remain, while prior cancer-development risks have been removed.
What changed since the prior 10-K
New
- NewRisks Related to Our Business and Industry
We recently transitioned our business strategy, and our future success is uncertain
The shift from biotechnology to FinTruth leaves the company with limited evidence it can develop, finance and commercialize its AI strategy.
- NewRisks Related to Our Business and Industry
We have generated limited revenue from our AI-focused operations and may never achieve profitability
FinTruth generates no significant revenue, and profitability depends on commercialization, investment, partnerships, customer adoption and regulatory compliance.
- NewRisks Related to Our Business and Industry
We may rely on a limited number of third parties for marketing, distribution and revenue, and the loss of or underperformance by any of them could harm our business
Reliance on a small number of financial IT, MaaS, AI distribution and foundation-model partners could disrupt sales and revenue.
- NewRisks Related to Our Business and Industry
We have recently transitioned our business to enterprise AI applications and have a limited operating history in this industry, which makes it difficult to evaluate our prospects
FinTruth is the sole product, has no customer revenue beyond agency fees, and depends on converting pilots into recurring enterprise contracts.
- NewRisks Related to Our Business and Industry
The market for AI financial verification is new and evolving, and may not develop as we expect
Demand may disappoint if financial institutions delay AI adoption, prefer internal or manual review, or face lengthy procurement and security approvals.
- NewRisks Related to Our Business and Industry
The AI industry is intensely competitive and rapidly changing, and we may be unable to compete successfully against larger and better-funded competitors
Larger foundation-model, technology, data, financial-information and AI companies may compete directly, including partners that could add verification to their own products.
- NewRisks Related to Our Business and Industry
Evolving laws and regulations relating to AI in the jurisdictions where we or our customers operate could increase our costs, restrict our services or reduce demand for FinTruth
Changing AI rules on transparency, explainability, risk management, human oversight and data governance could restrict FinTruth and increase compliance costs.
- NewRisks Related to Our Business and Industry
We depend on third-party cloud providers, models and distribution partners, and any disruption in these relationships could harm our business
Cloud outages, capacity limits, price increases or partner failures could interrupt FinTruth, raise costs and impair customer growth.
- NewRisks Related to Our Business and Industry
We may be unable to attract and retain qualified AI and engineering talent
The company has only three AI research and algorithm engineering employees and may struggle to reach its planned eighteen-person workforce.
- NewRisks Related to Our Business and Industry
We may be unable to adequately protect our proprietary technology and data, and we may be subject to claims that we infringe the intellectual property rights of others
Trade-secret, dataset-rights and intellectual-property disputes could expose Smith RM, FinTruth or proprietary datasets to costly claims or forced changes.
- NewRisks Related to Our Business and Industry
FinTruth is a complex software, and undetected defects, errors, vulnerabilities or performance failures could harm our reputation, cause us to lose customers and expose us to liability
Defects or vulnerabilities across FinTruth’s verification modules, data ingestion and deployment formats could produce inaccurate reports, outages, customer losses or liability.
- NewRisks Related to Our Business and Industry
On-premises deployments of FinTruth involve additional technical, support and security challenges
Customer-controlled on-premises environments make FinTruth harder to implement, support, secure and update, while increasing copying and attribution risks.
- NewRisks Related to Our Business and Industry
Cyberattacks, security breaches and other incidents affecting our systems or those of our third-party providers could disrupt our operations, compromise confidential information and subject us to significant liability
- NewRisks Related to Our Business and Industry
Our financial-institution customers impose demanding security, data-handling and audit requirements, and our failure to satisfy them could prevent us from winning or keeping customers
- NewRisks Related to Our Business and Industry
We are subject to SEC cybersecurity disclosure requirements, and a failure to identify, assess or timely disclose material cybersecurity incidents could expose us to regulatory action and litigation
- NewRisks Related to Our Business and Industry
Our insurance coverage may not be adequate to cover losses from cybersecurity incidents, technology failures or other operational events
- NewRisks Related to Our Business and Industry
We have a small workforce and depend on a limited number of key personnel, and our lean operating structure may not be sufficient to support our business as a public company
- NewRisks Related to Our Business and Industry
Business interruptions caused by natural disasters, public health events, geopolitical events, power or telecommunications failures or other events beyond our control could disrupt our operations
- NewRisks Related to Our Business and Industry
We will need substantial additional capital to fund our operations and business plan, which may not be available on acceptable terms or at all
- NewRisks Related to Our Business and Industry
Cybersecurity Breaches and other Disruptions to our Information Technology Systems
- NewRisks Relating to Our Financial Prospects and Need for Additional Capital
Because we lack a significant operating history on AI, in particular Fintruth, you have no basis upon which to evaluate our ability to achieve our business objective. If we fail to complete our initial launch of FinTruth, we will never generate any operating revenues
- NewRisks Related to Doing Business in Hong Kong and China
We may become subject to a variety of laws and regulations in the PRC regarding privacy, data security, cybersecurity, and data protection. We may be liable for improper use or appropriation of personal information provided by our customers
- NewRisks Related to Doing Business in Hong Kong and China
We may be subject to PRC laws on cybersecurity, data security, personal information protection and cross-border data transfers, which are complex and evolving
- NewRisks Related to Doing Business in Hong Kong and China
We are subject to the Hong Kong Personal Data (Privacy) Ordinance and evolving Hong Kong guidance on the use of AI, and any failure to comply could harm our business and reputation
- NewRisks Related to Doing Business in Hong Kong and China
The PRC and Hong Kong legal systems embody uncertainties, particularly with respect to the regulation of emerging technologies such as AI, which could limit the legal protections available to us
- NewRisks Related to Doing Business in Hong Kong and China
Export controls, sanctions and other restrictions on AI technology, semiconductors and cloud services imposed by the United States, the PRC or other jurisdictions could restrict our access to computing resources and models, and limit the markets in which we can operate
- NewRisks Related to Doing Business in Hong Kong and China
To the extent cash or assets in our business are in Hong Kong or held by our Hong Kong subsidiary, such cash or assets may not be available to fund our operations or for other use outside of Hong Kong due to interventions in or the imposition of restrictions and limitations by the PRC government
Dropped
- DroppedRisks Related to Our Business and Industry
We are an early stage cancer diagnostics company with a limited operating history, which may make it difficult to evaluate our current business and predict our future performance
Early-stage cancer diagnostics operations and limited operating history.
- DroppedRisks Related to Our Business and Industry
We may be unable to develop and commercialize our early cancer detection devices, chips or immunochromogenic kits on a timely basis, or at all
Developing and commercializing cancer detection devices, chips and kits.
- DroppedRisks Related to Our Business and Industry
If we fail to keep up with industry and technology developments in a timely and cost-effective manner, we may be unable to compete effectively and our business and prospects could suffer
Keeping pace with cancer-diagnostics technology and industry developments.
- DroppedRisks Related to Our Business and Industry
If our products or services do not perform as expected, our operating results, reputation and business could suffer
Cancer product performance, reliability, reputation and operating results.
- DroppedRisks Related to Our Business and Industry
If we cannot compete successfully with our competitors, we may be unable to increase or sustain our revenue or achieve and sustain profitability
Competition in cancer early detection and screening.
- DroppedRisks Related to Our Business and Industry
Our future success depends on our ability to promote our brand and protect our reputation. If we are unable to effectively promote our brand, our business may be adversely affected
Promoting cancer-diagnostics brands and protecting their reputation.
- DroppedRisks Related to Our Business and Industry
If we experience difficulties in recruiting subjects for clinical trials, our clinical development activities may be delayed or otherwise adversely affected
- DroppedRisks Related to Our Business and Industry
If we do not launch new products in a timely manner, our products may become obsolete and our results of operations may suffer
Recruiting clinical-trial subjects.
- DroppedRisks Related to Our Business and Industry
As of the date of this Report, we have not conducted any clinical trials for our products. Uncertainties or failures in clinical trials of our product candidates could materially and adversely affect our business operations
Timely launches of new cancer-diagnostics products.
- DroppedRisks Related to Our Business and Industry
We have contracts with third parties for the future manufacturing, supply and registration applications of certain of our products, which supply could become limited or interrupted or may not be of satisfactory quality and quantity
Clinical-trial uncertainties and failures before regulatory approval.
- DroppedRisks Related to Our Business and Industry
We may be adversely affected by uncertainties and changes in China’s regulations on the cancer screening industry, and the lack of necessary approvals, licenses, registrations or filings in relation to our business may adversely affect our business, results of operations and prospects material adverse effects
Third-party manufacturing, supply and registration support for cancer products.
- DroppedRisks Related to Our Business and Industry
If our existing and new products fail to meet the quality standards required by applicable laws, our business and reputation could be damaged, and our revenue and profitability could be materially and adversely affected
Changing PRC cancer-screening regulations and missing approvals or licenses.
- DroppedRisks Related to Our Business and Industry
In addition to the Chinese market, we are planning to expand to North American and European markets. We cannot give any assurance that any of our products will receive regulatory approval in North America or Europe, which is necessary before they can be commercialized
Cancer-product quality standards and manufacturing controls.
- DroppedRisks Related to Our Business and Industry
Failure to obtain the broad market acceptance or maintain a good reputation necessary for our current products and any future products could materially and adversely affect our results of operations and profitability
- DroppedRisks Related to Our Business and Industry
China maintains a National Medical Insurance Program that can reimburse certain residents in urban cities and rural areas for, among other things, fees associated with diagnostic and treatment devices and diagnostic tests covered by such Program through the basic medical insurance scheme
- DroppedRisks Related to Our Business and Industry
We have relatively limited experience in product promotion and sales. There is no assurance that we will be able to successfully commercialize our products and, as a result, our revenue and profitability could be materially and adversely affected
- DroppedRisks Related to Our Business and Industry
The market size of existing and future products has not been precisely established and may be lower than our estimates, and we may not fully grasp the target population of our products
- DroppedRisks Related to Our Business and Industry
Delays in the completion and obtaining regulatory approvals of our manufacturing facilities, or damage, destruction or interruption of production at such facilities may delay our development plans or commercialization efforts
- DroppedRisks Related to Our Business and Industry
The manufacturing and testing process of our products is complex and subject to strict quality control. If we or any of our suppliers or logistics partners experience manufacturing, logistics or quality problems, including as a result of natural disasters, our business may be damaged
- DroppedRisks Related to Our Business and Industry
Our information technology systems store and process a variety of sensitive data, including our proprietary business information, as well as patients’ personal data such as health information and personally identifiable information
- DroppedRisks Related to Our Business and Industry
If we are unable to effectively protect our intellectual property, our business and competitive position would be harmed
- DroppedRisks Related to Our Business and Industry
We may be subject to intellectual property infringement or misappropriation claims by third parties, which may force us to incur substantial legal expenses and, if determined adversely against us, could disrupt our business
- DroppedRisks Relating to Our Financial Prospects and Need for Additional Capital
If our available cash balances are insufficient to satisfy our liquidity requirements, in particular, for the development and commercialization of our products, we may seek to obtain further funding through public or private equity offerings, debt financings or other sources
- DroppedRisks Relating to Our Financial Prospects and Need for Additional Capital
We have only a limited accounting personnel and have corrected an error in application of the accounting principle for business combinations accounted for an acquisition of an entity during the year ended June 30, 2022
- DroppedRisks Related to Doing Business in Taiwan
Advanced Biomed Taiwan does not currently own any trademark or patent
- DroppedRisks Related to Doing Business in Taiwan
We face economic and political risks associated with doing business in Taiwan, particularly due to the geopolitical tension between Taiwan and China that could negatively affect our business and hence the value of your investment
- DroppedRisks Related to Doing Business in Taiwan
Advanced Biomed Taiwan is subject to restrictions on paying dividends or making other payments to us, which may restrict our ability to satisfy its liquidity requirements
- DroppedRisks Related to Doing Business in Taiwan
Advanced Biomed Taiwan is subject to foreign exchange control imposed by Taiwan authorities, which may affect the paying dividends, repatriating the interest or making other payments to us
- DroppedRisks Related to Doing Business in Taiwan
Advanced Biomed Taiwan will collaborate and share its R&D efforts with us and our Shanghai subsidiary and is subject to Taiwan regulations on investment or technical cooperation in China. It may affect its technical cooperation with the Shanghai subsidiary and more seriously its acquisition by Advanced Biomed
- DroppedRisks Related to Doing Business in Taiwan
Taiwanese investors holding more than 10% of Advanced Biomed Common Stock will be subject to Taiwan regulations on investment or technical cooperation in China for its investment or technical cooperation in China
- DroppedRisks Related to Doing Business in Taiwan
The imposition of foreign exchange restrictions in Taiwan may have an adverse effect on foreign investors’ abilities to acquire securities of a Taiwan company, including the shares of our subsidiaries in Taiwan, or to repatriate the interest, dividends or sale proceeds from those securities
- DroppedRisks Related to Doing Business in Taiwan
Our operations are subject to the effects of a rising rate of inflation
- DroppedRisks Related to Doing Business in Taiwan
You may experience difficulties in effecting service of legal process, enforcing foreign judgments, or bringing actions in Taiwan against us
- DroppedRisks Related to Doing Business in China
A downturn in China or global economy, and economic and political policies of the PRC could materially and adversely affect our business
- DroppedRisks Related to Doing Business in China
On August 20, 2021, the SCNPC promulgated the Personal Information Protection Law of the People’s Republic of China, or the Personal Information Protection Law, which integrates the scattered rules with respect to personal information rights and privacy protection and took effect on November 1, 2021
- DroppedRisks Related to Doing Business in China
Uncertainties in the interpretation and enforcement of PRC laws and regulations could limit the legal protections available to you and the Company
- DroppedRisks Related to Doing Business in China
You may experience difficulties in effecting service of legal process, enforcing foreign judgments, or bringing actions in PRC against us
- DroppedRisks Related to Doing Business in China
Non-compliance with the PRC Labor Contract Law and other labor-related regulations in the PRC may adversely affect our business and our results of operations
- DroppedRisks Related to Doing Business in China
Changes in the PRC’s economic, political or social conditions or government policies could have a material adverse effect on our businesses and operations in Mainland China and Hong Kong
- DroppedRisks Related to Doing Business in China
Our Shanghai subsidiary is subject to restrictions on paying dividends or making other payments to us, which may restrict our ability to satisfy our liquidity requirements in the future
- DroppedRisks Related to Doing Business in China
PRC regulation on loans to, and direct investment in, PRC entities by offshore holding companies and governmental control in currency conversion may delay or prevent us from making loans to or making additional capital contributions to our Shanghai subsidiary
- DroppedRisks Related to Doing Business in China
The M&A Rules and certain PRC regulations may make it more difficult for us to pursue growth through acquisitions
- DroppedRisks Related to Doing Business in China
Enhanced scrutiny over acquisition transactions by the PRC tax authorities may have a negative impact on potential acquisitions we may pursue in the future
- DroppedRisks Related to Doing Business in China
It may be difficult for overseas stockholders and/or regulators to conduct investigations or collect evidence within the PRC
- DroppedRisks Related to Doing Business in China
Additional factors outside of our control related to doing business in the Mainland China and Hong Kong could negatively affect our business
- DroppedRisks Related to Doing Business in China
Because of a variety of rules applicable to our operations in the PRC and the regulations on foreign investments as well as the applicable tax law, we may be subject to limitations on our ability to declare and pay dividends to our stockholders
- DroppedRisks Related to the ELOC Agreement
It is not possible to predict the actual number of shares of our Common Stock, if any, we will sell under the ELOC Agreement, or the actual gross proceeds resulting from those sales or the dilution to you from those sales. Further, we may not have access to the full amount available under the ELOC Agreement
- DroppedRisks Related to the ELOC Agreement
Investors who buy shares of Common Stock from the Selling Stockholder at different times will likely pay different prices
- DroppedRisks Related to the ELOC Agreement
Future resales and/or issuances of shares of Common Stock, or the perception that such sales may occur, may cause the market price of our shares to drop significantly
- DroppedRisks Related to the ELOC Agreement
We may use proceeds from sales of our Common Stock made pursuant to the ELOC Agreement in ways with which you may not agree or in ways which may not yield a significant return
- DroppedRisks Related to the ELOC Agreement
The purchase price of our Common Stock in the Resale Offering could be higher or lower than the IPO
Reworded
- 62% rewrittenRisks Related to Our Business and Industry
Failure to attract and retain our senior management and other key employees could adversely affect our business
The risk now names Dr. Xiaomin Chen and engineering teams, replacing Dr. Yi Lu and scientists and technicians.
- 58% rewrittenRisks Related to our Common Stock
Shares eligible for future sale may adversely affect the market price of our Common Stock, as the future sale of a substantial amount of outstanding Common Stock in the public marketplace could reduce the price of our Common Stock
The disclosure now reports 1,652,133 shares outstanding and identifies 200,000 private-placement, 82,536 ELOC and 270,000 Acellent shares eligible for resale.
- 58% rewrittenRisks Related to our Common Stock
If we cannot continue to satisfy the listing requirements and other rules of Nasdaq Capital Market, our securities may be delisted, which could negatively impact the price of our securities and your ability to sell them
No substantive change; the risk continues to concern failure to meet Nasdaq Capital Market listing requirements.
- 55% rewrittenRisks Relating to Our Financial Prospects and Need for Additional Capital
We require substantial funding for our operations and have a limited operating history and limited revenue from FinTruth. If we cannot raise sufficient additional capital on acceptable terms, our business, financial condition and prospects may be adversely affected
Funding needs now focus on AI development and research personnel, while cancer-development, regulatory-approval and equipment uses were removed.
Was: We require substantial funding for our operations. If we cannot raise sufficient additional capital on acceptable terms, our business, financial condition and prospects may be adversely affected
- 49% rewrittenRisks Related to our Common Stock
Our former Chairman and Chief Executive Officer, Dr. Yi Lu, and our current Chairman and Chief Executive Officer, Dr. Xiaomin Chen, own a substantial portion of our outstanding shares of Common Stock and could each significantly influence the outcome of our corporate matters
Ownership is now split between former CEO Dr. Yi Lu at approximately 20.30% and CEO Dr. Xiaomin Chen at approximately 16.34%.
Was: Our Chairman Dr. Yi Lu owns a substantial portion of our outstanding shares of Common Stock and could significantly influence the outcome of our corporate matters
- 38% rewrittenRisks Relating to Our Financial Prospects and Need for Additional Capital
We have recorded negative cash flows from operating activities historically and may have a current liabilities position in the future
The disclosure separates continuing-operations cash outflows of $0.96 million from discontinued-operations outflows of $0.99 million for 2026 and reports $12.3 million of net current assets.
- 31% rewrittenRisks Related to our Common Stock
You will experience dilution if we issue additional equity securities in future financing transactions
The risk now refers to dilution for existing stockholders rather than investors in the prior resale offering.
- 29% rewrittenRisks Related to Doing Business in Hong Kong and China
Changes in the policies, regulations, rules, and the enforcement of laws of the PRC government may be quick with little advance notice and could have a significant impact upon our ability to operate profitably in the Mainland China and Hong Kong
Operations are now described as conducted through Hong Kong rather than through subsidiaries in Shanghai and Hong Kong.
All 51 risk factors
Headings as the filing states them, in filing order.
Risks Related to Our Business and Industry
- 01We recently transitioned our business strategy, and our future success is uncertainNew
- 02We have generated limited revenue from our AI-focused operations and may never achieve profitabilityNew
- 03We may rely on a limited number of third parties for marketing, distribution and revenue, and the loss of or underperformance by any of them could harm our businessNew
- 04We have recently transitioned our business to enterprise AI applications and have a limited operating history in this industry, which makes it difficult to evaluate our prospectsNew
- 05The market for AI financial verification is new and evolving, and may not develop as we expectNew
- 06The AI industry is intensely competitive and rapidly changing, and we may be unable to compete successfully against larger and better-funded competitorsNew
- 07Evolving laws and regulations relating to AI in the jurisdictions where we or our customers operate could increase our costs, restrict our services or reduce demand for FinTruthNew
- 08We depend on third-party cloud providers, models and distribution partners, and any disruption in these relationships could harm our businessNew
- 09We may be unable to attract and retain qualified AI and engineering talentNew
- 10We may be unable to adequately protect our proprietary technology and data, and we may be subject to claims that we infringe the intellectual property rights of othersNew
- 11Failure to attract and retain our senior management and other key employees could adversely affect our business62% rewritten
- 12FinTruth is a complex software, and undetected defects, errors, vulnerabilities or performance failures could harm our reputation, cause us to lose customers and expose us to liabilityNew
- 13On-premises deployments of FinTruth involve additional technical, support and security challengesNew
- 14Cyberattacks, security breaches and other incidents affecting our systems or those of our third-party providers could disrupt our operations, compromise confidential information and subject us to significant liabilityNew
- 15Our financial-institution customers impose demanding security, data-handling and audit requirements, and our failure to satisfy them could prevent us from winning or keeping customersNew
- 16We are subject to SEC cybersecurity disclosure requirements, and a failure to identify, assess or timely disclose material cybersecurity incidents could expose us to regulatory action and litigationNew
- 17Our insurance coverage may not be adequate to cover losses from cybersecurity incidents, technology failures or other operational eventsNew
- 18We have a small workforce and depend on a limited number of key personnel, and our lean operating structure may not be sufficient to support our business as a public companyNew
- 19Business interruptions caused by natural disasters, public health events, geopolitical events, power or telecommunications failures or other events beyond our control could disrupt our operationsNew
- 20We will need substantial additional capital to fund our operations and business plan, which may not be available on acceptable terms or at allNew
- 21Cybersecurity Breaches and other Disruptions to our Information Technology SystemsNew
- 22We may be subject to litigation and other claims and legal proceedings, and may not always be successful in defending ourselves against these claims or proceedings
Risks Relating to Our Financial Prospects and Need for Additional Capital
- 23We have recorded negative cash flows from operating activities historically and may have a current liabilities position in the future38% rewritten
- 24We require substantial funding for our operations and have a limited operating history and limited revenue from FinTruth. If we cannot raise sufficient additional capital on acceptable terms, our business, financial condition and prospects may be adversely affected55% rewritten
- 25Because we lack a significant operating history on AI, in particular Fintruth, you have no basis upon which to evaluate our ability to achieve our business objective. If we fail to complete our initial launch of FinTruth, we will never generate any operating revenuesNew
- 26Raising additional capital may lead to dilution of shareholdings by our existing stockholders, restrict our operations, and may further result in fair value loss adversely affecting our financial results
Risks Related to Doing Business in Hong Kong and China
- 27We may become subject to a variety of laws and regulations in the PRC regarding privacy, data security, cybersecurity, and data protection. We may be liable for improper use or appropriation of personal information provided by our customersNew
- 28We may be subject to PRC laws on cybersecurity, data security, personal information protection and cross-border data transfers, which are complex and evolvingNew
- 29We are subject to the Hong Kong Personal Data (Privacy) Ordinance and evolving Hong Kong guidance on the use of AI, and any failure to comply could harm our business and reputationNew
- 30The PRC and Hong Kong legal systems embody uncertainties, particularly with respect to the regulation of emerging technologies such as AI, which could limit the legal protections available to usNew
- 31Export controls, sanctions and other restrictions on AI technology, semiconductors and cloud services imposed by the United States, the PRC or other jurisdictions could restrict our access to computing resources and models, and limit the markets in which we can operateNew
- 32Changes in the policies, regulations, rules, and the enforcement of laws of the PRC government may be quick with little advance notice and could have a significant impact upon our ability to operate profitably in the Mainland China and Hong Kong29% rewritten
- 33The Chinese government may exert more control over Hong Kong business or impose new laws or regulations on business activities in Hong Kong
- 34On December 15, 2022, the PCAOB announced in the 2022 Determination its determination that the PCAOB was able to secure complete access to inspect and investigate accounting firms headquartered in Mainland China and Hong Kong, and the PCAOB Board voted to vacate previous determinations to the contrary
- 35Regulation and censorship of information disseminated over the Internet in the PRC may adversely affect our business, and we may be liable for content that is displayed on our website
- 36To the extent cash or assets in our business are in Hong Kong or held by our Hong Kong subsidiary, such cash or assets may not be available to fund our operations or for other use outside of Hong Kong due to interventions in or the imposition of restrictions and limitations by the PRC governmentNew
Risks Related to Nevada Corporate Laws
- 37Nevada law and our charter documents provide our directors and officers with broad protection from liability, which could reduce stockholder rights
- 38We indemnify our officers and directors against liability to us and our security holders, and such indemnification could increase our operating costs
- 39Provisions in our articles of incorporation, our bylaws, and Nevada law might discourage, delay or prevent a change in control of our Company or changes in our management and, therefore, depress the trading price of our Common Stock
- 40Nevada’s anti-takeover statutes could make it more difficult for a third party to acquire us, even if doing so would benefit our stockholders
Risks Related to our Common Stock
- 41Our Common Stock may not develop an active trading market and the price and trading volume of our shares may fluctuate significantly
- 42We do not anticipate paying cash dividends on our Common Stock in the foreseeable future
- 43Our former Chairman and Chief Executive Officer, Dr. Yi Lu, and our current Chairman and Chief Executive Officer, Dr. Xiaomin Chen, own a substantial portion of our outstanding shares of Common Stock and could each significantly influence the outcome of our corporate matters49% rewritten
- 44The price of our Common Stock may be volatile or may decline regardless of our operating performance, and stockholders may not be able to resell their shares
- 45You will experience dilution if we issue additional equity securities in future financing transactions31% rewritten
- 46Nasdaq may apply additional and more stringent criteria for our continued listing because we had a small Initial Public Offering and insiders hold a large portion of our listed securities
- 47If we cannot continue to satisfy the listing requirements and other rules of Nasdaq Capital Market, our securities may be delisted, which could negatively impact the price of our securities and your ability to sell them58% rewritten
- 48The market price of our Common Stock may be volatile or may decline regardless of our operating performance, and you may not be able to resell your shares at or above the public offering price
- 49Shares eligible for future sale may adversely affect the market price of our Common Stock, as the future sale of a substantial amount of outstanding Common Stock in the public marketplace could reduce the price of our Common Stock58% rewritten
- 50We will incur additional costs as a result of becoming a public company, which could negatively impact our net income and liquidity
- 51The obligation to disclose information publicly may put us at a disadvantage to competitors that are private companies
Other Advanced Biomed 10-Ks
- FY2025 10-K risk factors75 risks
Advanced Biomed faces extreme concentration risk from cross-strait geopolitical tensions between Taiwan and China impacting R&D. The early-stage cancer diagnostics company has no commercial sales, negative operating cash flows of $5.8 million, and no clinical trials completed.
Filed Oct 08, 2025
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.