Moolec Science SA
For the period ended Jun 30, 2025. Filed Dec 29, 2025.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2025 · Filed Dec 29, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 20-F
(Mark One)
☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended June 30,2025
OR
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________________ to ________________
OR
☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of event requiring this shell company report: __________
Commission file number:001-41586
Moolec Science SA
(Exact name of Registrant as specified in its charter)
The Cayman Islands
(Jurisdiction of incorporation)
c/o Ogier Global (Cayman) Limited,
89 Nexus Way, Camana Bay,
Grand Cayman KY1-9009
Cayman Islands
(Address of principal executive offices)
Valeria Falottico
Chief Financial Officer
Ocampo Bis 210, Rosario Sud, Santa Fe
2000, Argentina
ir@moolecscience.com
+54 341 486 1100
(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)
Securities registered or to be registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of each exchange on which registered |
|---|---|---|
| Ordinary Shares, with nominal value of US$0.10 per share | MLEC | Nasdaq Stock Market LLC |
| Warrants, exercisable for ordinary shares | MLECW | Nasdaq Stock Market LLC |
Securities registered or to be registered pursuant to Section 12(g) of the Act:
None
Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:
Ordinary Shares
Warrants
Indicate the number of outstanding shares of each of the issuer’s classes of capital stock or common stock as of the close of business covered by the annual report.
10,891,761 Ordinary Shares were issued and outstanding as of June 30, 2025.
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
☒Yes ☐ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer ☐ | Accelerated filer ☐ | Non-accelerated filer ☒ | Emerging growth company ☒ |
|---|
If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.☐
| † | The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012. |
|---|
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐
Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:
| US GAAP ☐ | International Financial Reporting Standards as issued by the International Accounting Standards Board ☒ | Other ☐ |
|---|
If “Other” has been checked in response to the previous question indicate by check mark which financial statement item the registrant has elected to follow.
☐ Item 17 ☐ Item 18
If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
☐ Yes☒ No
Table of Contents
| PART I | 1 | |
|---|---|---|
| INTRODUCTORY NOTE AND PRESENTATION OF FINANCIAL AND OTHER INFORMATION | 1 | |
| ITEM 1. | IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS | 5 |
| A. | Directors and Senior Management | 5 |
| B. | Advisors | 5 |
| C. | Auditors | 5 |
| ITEM 2. | OFFER STATISTICS AND EXPECTED TIMETABLE | 5 |
| A. | Offer Statistics | 5 |
| B. | Method and Expected Timetable | 5 |
| ITEM 3. | KEY INFORMATION | 5 |
| A. | [RESERVED] | 5 |
| B. | Capitalization and Indebtedness | 5 |
| C. | Reasons for the Offer and Use of Proceeds | 5 |
| D. | Risk Factors | 5 |
| ITEM 4. | INFORMATION ON THE COMPANY | 45 |
| A. | History and Development of the Company | 45 |
| B. | Business Overview | 53 |
| C. | Organizational Structure | 66 |
| D. | Property, Plant and Equipment | 66 |
| ITEM 5. | OPERATING AND FINANCIAL REVIEW AND PROSPECTS | 67 |
| A. | Operating Results | 67 |
| B. | Liquidity and Capital Resources | 77 |
| C. | Research and Development, Patents and Licenses, etc. | 81 |
| D. | Trend Information | 81 |
| E. | Critical Accounting Estimates | 81 |
| ITEM 6. | DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES | 81 |
| A. | Directors and Senior Management | 81 |
| B. | Compensation | 83 |
| C. | Board Practices | 84 |
| D. | Employees | 86 |
| E. | Share Ownership | 86 |
| F. | Disclosure of a Registrant’s Action to Recover Erroneously Awarded Compensation | 87 |
| ITEM 7. | MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS | 87 |
| A. | Major Shareholders | 87 |
| B. | Related Party Transactions | 87 |
| C. | Interests of Experts and Counsel | 90 |
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| ITEM 8. | FINANCIAL INFORMATION | 90 |
|---|---|---|
| A. | Consolidated Statements and Other Financial Information | 90 |
| B. | Significant Changes | 91 |
| ITEM 9. | THE OFFER AND LISTING | 91 |
| A. | Offer and Listing Details | 91 |
| B. | Plan of Distribution | 91 |
| C. | Markets | 91 |
| D. | Selling Shareholders | 91 |
| E. | Dilution | 91 |
| F. | Expenses of the Issue | 91 |
| ITEM 10. | ADDITIONAL INFORMATION | 91 |
| A. | Share Capital | 91 |
| B. | Memorandum and Articles of Association | 91 |
| C. | Material Contracts | 93 |
| D. | Exchange Controls | 94 |
| E. | Taxation | 94 |
| F. | Dividends and Paying Agents | 99 |
| G. | Statement by Experts | 99 |
| H. | Documents on Display | 99 |
| I. | Subsidiary Information | 99 |
| ITEM 11. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK | 99 |
| ITEM 12. | DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES | 99 |
| A. | Debt Securities | 99 |
| B. | Warrants and Rights | 99 |
| C. | Other Securities | 99 |
| D. | American Depositary Shares | 99 |
| PART II | 100 | |
| ITEM 13. | DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES | 100 |
| A. | Defaults | 100 |
| B. | Arrears and Delinquencies | 100 |
| ITEM 14. | MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS | 101 |
| ITEM 15. | CONTROLS AND PROCEDURES | 101 |
| A. | Disclosure Controls and Procedures | 101 |
| C. | Attestation Report of the Registered Public Accounting Firm | 102 |
| D. | Changes in Internal Control Over Financial Reporting | 102 |
| ITEM 16. | Reserved | 102 |
| A. | Audit Committee Financial Expert | 102 |
| B. | Code of Ethics | 102 |
| C. | Principal Accountant Fees and Services | 102 |
| D. | Exemptions from the Listing Standards for Audit Committees | 103 |
| E. | Purchases of Equity Securities by the Issuer and Affiliated Purchasers | 103 |
| F. | Change in Registrant’s Certifying Accountant | 103 |
| G. | Corporate Governance | 103 |
| H. | Mine Safety Disclosure | 103 |
| I. | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | 103 |
| J. | Insider Trading Policies | 103 |
| K. | Cybersecurity | 103 |
| PART III | 104 | |
| ITEM 17. | FINANCIAL STATEMENTS | 104 |
| ITEM 18. | FINANCIAL STATEMENTS | 104 |
| ITEM 19. | EXHIBITS | 105 |
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