Cenntro Inc.
For the period ended Mar 31, 2026. Filed May 14, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 14, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 1. Condensed Consolidated Financial Statements (Unaudited)
| ITEM 1. | CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) |
|---|
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE LOSS
(Expressed in U.S. dollars, except for number of shares)
| For the Three Months Ended March 31, | ||||
|---|---|---|---|---|
| Note · 2026 · 2025 | ||||
| Net revenues | 2(d | ) | $1,212,160 | $2,143,058 |
| Cost of goods sold | (975,032) | (1,821,531) | ||
| Gross profit | 237,128 | 321,527 | ||
| OPERATING EXPENSES: | ||||
| Selling and marketing expenses | (294,267) | (776,717) | ||
| General and administrative expenses | (3,408,959) | (4,934,168) | ||
| Research and development expenses | (478,133) | (784,178) | ||
| Provision for credit losses | (36,318) | - | ||
| Total operating expenses | (4,217,677) | (6,495,063) | ||
| Loss from operations | (3,980,549) | (6,173,536) | ||
| OTHER INCOME (EXPENSE): | ||||
| Interest expense, net | (88,070) | (118,688) | ||
| Loss from long-term investments | (4,304) | (39) | ||
| Change in fair value of convertible promissory notes and derivative liability | 234,864 | (3,129) | ||
| Gain from early termination of lease contract | - | 1,138 | ||
| Change in fair value of equity securities | - | 256,712 | ||
| Foreign currency exchange (loss) gain, net | (106,994) | 404,191 | ||
| Gain (loss) from cross-currency swaps | 19,350 | (36,140) | ||
| Other (expense) income, net | (149,839) | 295,592 | ||
| Net loss from continuing operations before taxes | (4,075,542) | (5,373,899) | ||
| Income tax benefit | 12,925 | 11,632 | ||
| Net loss from continuing operations | (4,062,617) | (5,362,267) | ||
| Discontinued operations: | ||||
| Income (loss) from discontinued operations, net of tax | 139,785 | (303,390) | ||
| Net loss | (3,922,832) | (5,665,657) | ||
| Less: net loss attributable to non-controlling interests | (14,733) | (11,321) | ||
| Net loss attributable to the Company’s shareholders | $(3,908,099) | $(5,654,336) | ||
| OTHER COMPREHENSIVE INCOME | ||||
| Foreign currency translation adjustment | 500,466 | 391,162 | ||
| Unrealized holding gains for available-for-sale securities | 7,500 | 7,500 | ||
| Total comprehensive loss | (3,414,866) | (5,266,995) | ||
| Less: total comprehensive loss attributable to non-controlling interests | (13,646) | (10,977) | ||
| Total comprehensive loss to the Company’s shareholders | $(3,401,220) | $(5,256,018) | ||
| Weighted average number of shares outstanding, basic and diluted* | 1,465,214 | 514,444 | ||
| Loss per common share | ||||
| Continuing operations - basic and diluted | (2.76) | (10.40) | ||
| Discontinued operations - basic and diluted | 0.10 | (0.59) | ||
| Net loss per common share - basic and diluted | (2.66) | (10.99) | ||
- On April 13, 2026, the Company effected a 1-for-60 reverse stock split of its issued and outstanding common stock (the “Reverse Stock Split”). As a result of the Reverse Stock Split, every sixty (60) shares of the Company’s common stock were automatically combined into one (1) share of common stock, with any fractional shares rounded up to the nearest whole share.
All share and per share amounts presented in the accompanying unaudited condensed consolidated financial statements have been retrospectively adjusted to reflect the Reverse Stock Split for all periods presented, unless otherwise indicated.
UNAUDITED
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.