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FOCUS UNIVERSAL INC

For the period ended Dec 31, 2023. Filed Apr 1, 2024.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Apr 1, 2024

FCUV$2.80-1.6%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Table of Contents

Part IPage No.
Item 1.Business1
Item 1A.Risk Factors26
Item 1B.Unresolved Staff Comments41
Item 1C.Cybersecurity41
Item 2.Properties41
Item 3.Legal Proceedings42
Item 4.Mine Safety Disclosures42
Part II
Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities43
Item 6.[Reserved]44
Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations44
Item 7A.Quantitative and Qualitative Disclosures About Market Risk53
Item 8.Financial Statements and Supplementary DataF-1
Item 9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure54
Item 9A.Controls and Procedures54
Item 9B.Other Information56
Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections56
Part III
Item 10.Directors, Executive Officers and Corporate Governance57
Item 11.Executive Compensation62
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters65
Item 13.Certain Relationships and Related Transactions, and Director Independence65
Item 14.Principal Accounting Fees and Services66
Part IV
Item 15.Exhibits, Financial Statement Schedules67
Signatures68

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FORWARD-LOOKING STATEMENTS

This Annual Report contains forward-looking statements. Forward-looking statements are projections of events, revenues, income, future economic performance or management’s plans and objectives for our future operations. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including, but not limited to, the risks in the section entitled “Risk Factors” and the risks set out below, any of which may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These risks include, by way of example and not in limitation:

·the uncertainty of profitability based upon our history of losses;
·risks related to failure to obtain adequate financing on a timely basis and on acceptable terms;
·risks related to our international operations and currency exchange fluctuations; and
·other risks and uncertainties related to our business plan and business strategy.

This list is not an exhaustive list of the factors that may affect any of our forward-looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on our forward-looking statements. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date the statements are made, and we undertake no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our financial statements are stated in United States dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles. All references to “common stock” refer to the common shares in our capital stock.

As used in this annual report, the terms “we,” “us,” “our,” the “Company” and “Focus Universal” mean Focus Universal Inc. unless otherwise indicated.

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ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.