10-K/A - EOS INC. (0001651958) (Filer)

Tue, Feb 25, 11:08 AM (55 days ago)

EOS Inc. (ticker: EOSS) filed its Form 10-K/A Amendment No. 4 to update disclosures on its corporate structure, subsidiaries, and cross-border operations. The amendment clarifies that all operating activities are primarily conducted through its Taiwan-based subsidiary, Emperor Star International Trade Co., Ltd., with additional non-operating entities in the BVI and PRC. It also specifies that the independent auditors are based in Singapore and inspected by the PCAOB, and it explains mechanisms for serving process and enforcing judgments across jurisdictions. New risk factors were added regarding doing business in Hong Kong, China, and Taiwan—highlighting uncertainties in legal enforcement, regulatory compliance, and potential adverse impacts on market position and financial performance. Financial disclosures for the fiscal year ended December 31, 2023 show decreased net sales and improved gross margins compared to 2022, along with a reduction in operating losses; yet, the company continues to face a net loss and a going concern issue due to limited cash and funding needs. Additionally, related-party transactions and stock-based compensations are discussed, emphasizing the need for increased revenue and capital to support future operations.