10-K/A - NOCERA, INC. (0001756180) (Filer)

Fri, Jun 20, 9:01 PM (2 days ago)

### Summary of Nocera, Inc. (NCRA) **Financial Performance:** - **Revenue:** $17.01 million for 2024, down from $23.9 million in 2023. - **Net Income:** Net loss of $2.39 million in 2024, compared to a net loss of $4.16 million in 2023. - **Operating Expenses:** Total operating expenses were $3.29 million in 2024, down from $4.60 million in 2023. - **Earnings per Share (EPS):** Basic and diluted loss per share was $0.1807 in 2024, compared to $0.4238 in 2023. **Strategic Overview:** - **Business Model:** Nocera focuses on designing, developing, and producing large-scale recirculating aquaculture systems (RASs) for fish farms, along with consulting, technology transfer, and aquaculture project management services. - **Market Position:** The company aims to become a global leader in land-based aquaculture, with operations in Taiwan and plans to expand into North and South America. - **Product Offerings:** Key products include RASs, which are designed to reduce water usage and space requirements for intensive fish production. **Future Outlook:** - **Expansion Plans:** Nocera plans to build RASs on land acquired in Montgomery County, Alabama, and expand its operations in Taiwan and other international markets. - **Financial Strategy:** The company intends to raise approximately $40 million through equity issuance, a leveraged buyout transaction, and debt financing to support its strategic initiatives. **Risk Factors:** - **Financial Risks:** Nocera faces substantial doubt about its ability to continue as a going concern due to net losses and cash flow deficits. - **Operational Risks:** The company relies on a few key customers and faces risks related to market demand, regulatory compliance, and competition. - **Market Risks:** Nocera is subject to fluctuations in commodity prices, currency exchange rates, and geopolitical conditions. **Financial Condition:** - **Cash Position:** As of December 31, 2024, Nocera had a cash balance of $484,161, down from $1.23 million in 2023. - **Debt:** The company has secured loans and other borrowings, with a total debt of $662,983 as of December 31, 2024. **Market Position Changes:** - **Stock Performance:** Nocera's stock has experienced significant price and volume fluctuations, which could adversely affect the market prices of its common stock. - **Listing Status:** The company received a deficiency letter from Nasdaq regarding the closing bid price of its common stock, which must be maintained at a minimum of $1.00 per share to remain listed on The Nasdaq Capital Market.