Ezagoo Ltd Files 2023 Annual Report on Form 10-K

TL;DR

<b>Ezagoo Ltd has submitted its 2023 annual report (10-K), detailing its financial performance and business operations for the year ending December 31, 2023.</b>

AI Summary

Ezagoo Ltd (EZOO) filed a Annual Report (10-K) with the SEC on April 8, 2024. Ezagoo Ltd filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is located in Changsha, Hunan, China. Ezagoo Ltd is incorporated in Nevada. The filing includes financial data for the fiscal years 2023, 2022, and 2021.

Why It Matters

For investors and stakeholders tracking Ezagoo Ltd, this filing contains several important signals. This 10-K filing provides investors and stakeholders with a comprehensive overview of Ezagoo Ltd's financial health, operational activities, and strategic direction for the past fiscal year. The detailed financial statements and risk factor disclosures within the report are crucial for understanding the company's performance and potential challenges in the advertising services sector.

Risk Assessment

Risk Level: medium — Ezagoo Ltd shows moderate risk based on this filing. The company's business address is in China, and it is incorporated in Nevada, which could indicate potential complexities in regulatory oversight and operational management.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Ezagoo Ltd's performance and future prospects.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of report)
• 2024-04-08 — Filing Date (Date the 10-K was filed)
• 2023-01-01 — Fiscal Year Start (Period of report)
• 2021-12-31 — Prior Fiscal Year End (Financial data comparison)

Key Players & Entities

• Ezagoo Ltd (company) — Filer name
• EZOO (company) — Ticker symbol
• Changsha, Hunan (location) — Business and mailing address city and state
• Nevada (location) — State of incorporation
• 7310 (other) — Standard Industrial Classification code for Services-Advertising
• Tan Xiaohao (person) — Mentioned in relation to restricted stock
• Zhang Qianwen (person) — Mentioned in relation to restricted stock
• Greenpro Asia Strategic SPC (company) — Mentioned in relation to restricted stock

FAQ

Industry Context

Ezagoo Ltd operates within the advertising services industry, classified under SIC code 7310.

Regulatory Implications

The company is subject to SEC regulations for public companies, including the requirement to file annual reports on Form 10-K.

What Investors Should Do

1. Review Ezagoo Ltd's financial statements for the fiscal year ended December 31, 2023.
2. Analyze the risk factors section of the 10-K for potential business challenges.
3. Compare Ezagoo Ltd's performance in 2023 with previous years (2022, 2021).

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K
• 2024-04-08: Filing Date — Date the 10-K was officially submitted to the SEC

Year-Over-Year Comparison

This filing is the annual report for the fiscal year ended December 31, 2023, providing updated financial and operational data compared to previous filings.

Key Financial Figures

• $0.0001 — (g) of the Act: Common stock, par value $0.0001 per share Indicate by check mark if t

Filing Documents

• form10-k.htm (10-K) — 1284KB
• ex10-1a.htm (EX-10.1_A) — 106KB
• ex10-2a.htm (EX-10.2_A) — 61KB
• ex10-3a.htm (EX-10.3_A) — 111KB
• ex10-4a.htm (EX-10.4_A) — 95KB
• ex10-5a.htm (EX-10.5_A) — 33KB
• ex31-1.htm (EX-31.1) — 16KB
• ex31-2.htm (EX-31.2) — 15KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• form10-k_001.jpg (GRAPHIC) — 2KB
• 0001493152-24-013755.txt (&nbsp;) — 6035KB
• ezoo-20231231.xsd (EX-101.SCH) — 51KB
• ezoo-20231231_cal.xml (EX-101.CAL) — 61KB
• ezoo-20231231_def.xml (EX-101.DEF) — 165KB
• ezoo-20231231_lab.xml (EX-101.LAB) — 291KB
• ezoo-20231231_pre.xml (EX-101.PRE) — 253KB
• form10-k_htm.xml (XML) — 846KB

Business

Business 4 Item 1A. Risk Factors 5 Item 1B. Unresolved Staff Comments 21 Item 2.

Properties

Properties 21 Item 3. Legal Proceedings 21 Item 4. Mine Safety Disclosures 21 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 22 Item 6. Selected Financial Data 23 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 28 Item 8. Financial 28 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures 28 Item 9A. Controls and Procedure 28 Item 9B. Other Information 29 PART III Item 10. Directors, Executive Officers and Corporate Governance 30 Item 11. Executive Compensation 32 Item 12. Security 34 Item 13. Certain Relationships and Related Transactions, and Director Independence 34 Item 14. Principal Accounting Fees and Services 35 PART IV Item 15. Exhibits, Financial Statement Schedules 36

SIGNATURES

SIGNATURES 37 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements. These forward-looking statements are not historical facts but rather are based on current expectations, estimates and projections. We may use words such as "anticipate," "expect," "intend," "plan," "believe," "foresee," "estimate" and variations of these words and similar expressions to identify forward-looking statements. These statements are not guarantees of future performance and are actual results to differ materially from those expressed or forecasted. These risks and uncertainties include the following: The availability and adequacy of our cash flow to meet our requirements; Economic, competitive, demographic, business and other conditions in our local and regional markets; Changes or developments in laws, regulations or taxes in our industry; Actions taken or omitted to be taken by third parties including our suppliers and competitors, as well as legislative, regulatory, judicial and other governmental authorities; Competition in our industry; The loss of or failure to obtain any license or permit necessary or desirable in the operation of our business; Changes in our business strategy, capital improvements or development plans; The availability of additional capital to support capital improvements and development; and Other risks identified in this report and in our other filings with the Securities and Exchange Commission or the SEC. This report should be read completely and with the understanding that actual future results may be materially different from what we expect. The forward looking statements included in this report are made as of the date of this report and should be evaluated with consideration of any changes occurring after the date of this Repor

Business

Business Overview Ezagoo Limited, a Nevada corporation ("the Company") was incorporated under the laws of the State of Nevada on May 9, 2018. Beijing Ezagoo Zhicheng Internet Technology Limited ("BEZL") is the Company through which we operate, and which generates revenue from providing advertising services on Xindian application platform, that is developed and operates by the Company ("advertisement income") since January 2022 to April 2023, providing e-commerce trading of goods and products on ZCZX WeChat Application that is subscribed from Weimob (, HK02013) ("trading income") since September 2022, and providing e-commerce value-added service in LSM WeChat Application which is also subscribed from Weimob (, HK02013) ("commission income" since November 2022 (however, the Company only generated the commission income till March 2023 now, as the Customer is updating they're products line since April 2023 and they plan to launch their new products on January 2024). The Xindian platform operates within the Chinese digital advertising network through advertisements displayed on the mobile application named "Xindian" that was launched by the Company on October 2020, it's relying on strong R&D background to build a technology based on block chain, fusion merchants and user needs in the integration of social short video platform, that provides many functions, such as self-service advertising, sharing and creating short video, making money in space time, selling goods online and shopping, social networking. We focus on medical beauty and anti-aging scale that differentiate us from another short video platform. We're planned to expand our brand to attract more potential users and customers as we met the bottleneck when we transformed the traditional bus advertising to our Xindian platform since January 1, 2022 (as the Changsha government decided to merger and control all the local bus themselves that effected on December 28, 2021), and we're aimed to build an innovative

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View this 10-K filing on SEC EDGAR