Risk Factors Update Summary
- The company incurred operating losses of $5,180,208 in 2022, reduced to $2,030,672 in 2023.
- Working capital decreased from $87,409 to $0, and accumulated deficit increased to $16,780,124.
- Revenue concentration increased, with one customer representing 80.8% of total revenue in 2023.
- Revenue from top five customers increased, with five customers representing 98% of total revenue in 2023.
- The company's ability to access capital markets may be impeded, affecting financial results.
- The ongoing Russia-Ukraine conflict may materially adversely affect global trade and the company.
- Inability to provide complete financial information for Meixin restricts Form S-3 filings.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1756180&owner=exclude
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