VSBC · OTC
Companies at this level ended the following year delisted, bankrupt, restated or silent 9.2% of the time, against 4.0% for companies with a clean record.
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The Company was unable to complete the preparation and review of its Quarterly Report on Form 10-Q for the quarterly period ended July 31, 2026 within the prescribed time period without unreasonable effort or expense, for the reasons described below. On September 7, 2026, the Company completed a transition of its management and board of directors. Shao-Hsiang Shih was elected a director of the Company and appointed Chairman of the Board; Jing-Zhou Chen was appointed Chief Executive Officer, President, Chief Financial Officer and Secretary of the Company and designated as the Company’s principal executive officer, principal financial officer and principal accounting officer; and Ssu-Chuan Lai resigned from all positions with the Company. Dr. Lai’s resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. The Company’s newly appointed principal executive officer and principal financial officer requires additional time to complete his review of the financial statements and the other disclosures to be included in the report, to complete the evaluation of the effectiveness of the Company’s disclosure controls and procedures as of the end of the period covered by the report required by Item 4 of Part I of Form 10-Q, and to furnish the certifications required by Rules 13a-14 and 15d-14 under the Securities Exchange Act of 1934 and by Section 906 of the Sarbanes-Oxley Act of 2002. In addition, the Company has limited accounting personnel and has previously reported a material weakness in its internal control over financial reporting relating to inadequate segregation of duties and the absence of sufficient accounting personnel with experience in United States generally accepted accounting principles and Commission reporting requirements
NT 10-Q, filed 2026-09-15 · material weakness
The Company was unable to complete the preparation and review of its Quarterly Report on Form 10-Q for the quarterly period ended July 31, 2026 within the prescribed time period without unreasonable effort or expense, for the reasons described below. On September 7, 2026, the Company completed a transition of its management and board of directors. Shao-Hsiang Shih was elected a director of the Company and appointed Chairman of the Board; Jing-Zhou Chen was appointed Chief Executive Officer, President, Chief Financial Officer and Secretary of the Company and designated as the Company’s principal executive officer, principal financial officer and principal accounting officer; and Ssu-Chuan Lai resigned from all positions with the Company. Dr. Lai’s resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. The Company’s newly appointed principal executive officer and principal financial officer requires additional time to complete his review of the financial statements and the other disclosures to be included in the report, to complete the evaluation of the effectiveness of the Company’s disclosure controls and procedures as of the end of the period covered by the report required by Item 4 of Part I of Form 10-Q, and to furnish the certifications required by Rules 13a-14 and 15d-14 under the Securities Exchange Act of 1934 and by Section 906 of the Sarbanes-Oxley Act of 2002. In addition, the Company has limited accounting personnel and has previously reported a material weakness in its internal control over financial reporting relating to inadequate segregation of duties and the absence of sufficient accounting personnel with experience in United States generally accepted accounting principles and Commission reporting requirements
2025-08-25auditor changed or resigned SEC →
2025-08-11auditor changed or resigned SEC →
The registrant was not, without unreasonable effort or expense, able to file its Annual Report on Form 10-K for the fiscal year ended January 31, 2023, by May 1, 2023. The registrant anticipates that it will file its Form 10-K within the "grace" period provided by Securities Exchange Act Rule 12b-25
2023-01-27auditor changed or resigned SEC →
The registrant was not, without unreasonable effort or expense, able to file its Quarterly Report on Form 10-Q for the quarter ended April 30, 2020 by June 15, 2020. The registrant anticipates that it will file its Form 10-Q within the "grace" period provided by Securities Exchange Act Rule 12b-25
The registrant was not, without unreasonable effort or expense, able to file its Quarterly Report on Form 10-Q for the quarter ended October 31, 2021 by December 15, 2021. The registrant anticipates that it will file its Form 10-Q within the "grace" period provided by Securities Exchange Act Rule 12b-25
reportingrisk.com scores every active US filer on three things a company tells the SEC about itself: late-filing notices on Form NT, 8-K item 4.02 (past accounts declared unreliable) and 4.01 (auditor changes). 1,012 are flagged today.
Every score is frozen and checked twelve months later. Across 91,452 of them, a company scoring 4 or more ended that year delisted, bankrupt, restated or silent 17.2% of the time, against 4.0% for a clean record. Scores before 2026-09-27 were reconstructed from the filing history as it stood at each date, so the record is a backtest rather than years of live calls.
See the ledger → Every company the score flagged that later failed, what it told the SEC on the way down, and the ones it missed.Every item above is a filing this company
made with the SEC.
Snapshot 2026-11-04 · data from SEC EDGAR (public domain) · not
investment advice