Jingbo Technology, Inc.

SVMB: 10-Q · periodic report

Jingbo Technology filed its 10-Q for the quarter ended August 31, 2026 reporting a six-month net loss of $1,129,974 on revenue of $538,200, down roughly 36% year over year, largely due to the terminated Lishui People's Hospital project and a collapse in winery sales to zero. Management disclosed substantial doubt about the company's ability to continue as a going concern, citing a $43.1 million accumulated deficit and a $10.4 million working capital deficit, with only $47,845 of unrestricted cash on hand and continued reliance on related-party and third-party loans. The company also reported material weaknesses in internal controls, including a non-functioning audit committee, lack of majority outside directors, and ineffective disclosure controls, adding governance risk on top of the going-concern warning.

SEC 10-Q•11d ago

SVMB: 10-Q · periodic report

Jingbo Technology reported a net loss of $617,240 for the quarter ended May 31, 2026, compared to a net loss of $408,871 in the prior year period. Net revenues decreased by approximately 39% to $281,962, primarily driven by the termination of the Lishui People’s Hospital project and declining demand in the winery market. Management disclosed substantial doubt about the company’s ability to continue as a going concern, citing a working capital deficit of $10,124,170 and an accumulated deficit of $42,601,318 as of May 31, 2026. The company stated it will likely not have sufficient funds to meet working capital requirements without obtaining additional financing from equity, debt, or related parties. The filing also revealed material weaknesses in internal control over financial reporting, rendering the company’s disclosure controls and procedures ineffective. Management attributed these weaknesses to a lack of a functioning audit committee, inadequate segregation of duties, and insufficient written policies regarding US GAAP and SEC requirements.

SEC 10-Q•3mo ago

SVMB: NT 10-K · late filing

Jingbo Technology, Inc. filed a Form 12b-25 notification stating it is unable to file its Annual Report on Form 10-K for the year ended February 28, 2026, by the prescribed deadline. The company cited an inability to compile certain information required to permit a timely and accurate report on its financial condition as the reason for the delay. Management expects to complete the filing within the 15-day extension period provided under Rule 12b-25 of the Securities Exchange Act of 1934.

SEC NT 10-K•4mo ago