Thu, May 16, 8:18 PM (268 days ago)
Fintech Scion Limited's Form 10-K/A (Amendment No. 3) for the fiscal year ended December 31, 2023, corrects an audit report error from Pan-China Singapore PAC. Key financial highlights include: - **Revenue**: $2,420,184, down from $3,084,279 in 2022. - **Net Income/Loss**: A significant net loss of $40,662,716, compared to a net income of $5,918,970 in 2022, primarily due to a $39,136,871 goodwill impairment. - **Operating Expenses**: Increased to $42,552,657 from $1,873,772 in 2022, driven by the goodwill impairment. - **Earnings Per Share**: Basic and diluted loss per share was $(0.14), down from $0.03. - **Financial Condition**: Total assets decreased to $21,078,344 from $63,825,261, while total liabilities reduced to $2,755,862 from $4,943,467. - **Strategic Overview**: The company underwent significant restructuring, including acquisitions and disposals of subsidiaries. - **Future Outlook**: The company faces substantial doubt about its ability to continue as a going concern due to the significant goodwill impairment and operational challenges. - **Risk Factors**: Potential further goodwill impairments and adverse financial impacts, along with market and operational risks. This amendment emphasizes the correction of the audit report and related certifications without altering other disclosures from the original filing.