Nocera (NCRA) risk factors

49 risks, 6 new, 14 dropped, 7 reworded since the prior year. Nocera adopted a Bitcoin treasury strategy, introducing volatility and regulatory risks. Operating losses increased to $2.67 million in 2025. Material weaknesses were identified in internal controls.

57 risks. Nocera faces substantial going concern doubt with operating losses of $2,393,803 in 2024 and an accumulated deficit of $21,238,881. Approximately 98% of revenues depend on a single product, eel, and five customers generated 81.8% of 2024 revenue. Operations are heavily concentrated in Taiwan, exposing the company to geopolitical tensions with mainland China.