M&A - Bio Essence Corp

Form Type: 10-K

Filing Date: 2025-03-28

Corporate Action: Acquisition

Type: New

Accession Number: 000101376225003850

Filing Summary: Bio Essence Corp reported its annual results for the fiscal year ended December 31, 2024. The company detailed significant corporate restructuring, including the dissolution of its subsidiaries. Notably, it sold 100% of its equity ownership in Bio Essence Pharmaceutical for $300,000 and Bio Essence Herbal Essentials for $400,000 in transactions completed in late 2023 and early 2024. The company operates with a focus on selling health supplements and providing OEM services, outsourcing its manufacturing after the sale of its manufacturing subsidiary. Despite these transactions, the company is currently facing financial difficulties, reporting a net loss of $1,565,721 and an accumulated deficit of $10,449,270, leading to doubts about its ability to continue as a going concern. The company plans to strengthen its sales operations and explore new funding sources to improve its revenue situation.

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