Qualis Innovations Files 2023 10-K Amendment

TL;DR

Qualis Innovations amended its 2023 10-K, updating key financial figures like common stock and retained earnings.

AI Summary

Qualis Innovations, Inc. filed an amendment to its 2023 10-K on July 18, 2024. The filing pertains to the fiscal year ending December 31, 2023. Key financial data points such as common stock, additional paid-in capital, and retained earnings for the years 2021, 2022, and 2023 are detailed within the filing.

Why It Matters

This amendment provides updated financial information for Qualis Innovations, Inc., crucial for investors assessing the company's performance and financial health as of December 31, 2023.

Risk Assessment

Risk Level: low — The filing is an amendment to a 10-K, primarily providing updated financial details rather than announcing new significant events.

Key Numbers

• 2023-12-31 — Fiscal Year End (The period covered by the 10-K filing.)
• 20240718 — Filing Date (Date the 10-K/A was submitted to the SEC.)

Key Players & Entities

• Qualis Innovations, Inc. (company) — Filer of the 10-K/A
• 2023-12-31 (date) — Fiscal year end
• 20240718 (date) — Filing date of the amendment
• 3841 (industry_code) — Standard Industrial Classification for Surgical & Medical Instruments & Apparatus

FAQ

Key Financial Figures

• $0.001 — ction 12(g) of the Act: Common Stock, $0.001 Par Value Indicate by check mark if t
• $0.20 — the Closing (the "Share Exchange"), at $0.20 per share. Mr. Lin Xiangfeng planned,
• $0.50 — he "Share Exchange"), at a valuation of $0.50 per share, and the Company issued warra
• $0 — rse acquisition for a net book value of $0. The acquisition was accounted for as
• $4,430,308 — e Company has an accumulated deficit of $4,430,308. It is anticipated that the total expec
• $250,000 — nt and FDA application is approximately $250,000, combined with operating expenses the C

Filing Documents

• form10-ka.htm (10-K/A) — 954KB
• ex31-1.htm (EX-31.1) — 11KB
• ex32-1.htm (EX-32.1) — 4KB
• form10-k_001.jpg (GRAPHIC) — 44KB
• form10-k_002.jpg (GRAPHIC) — 8KB
• 0001493152-24-028237.txt ( ) — 4696KB
• qlis-20231231.xsd (EX-101.SCH) — 36KB
• qlis-20231231_cal.xml (EX-101.CAL) — 44KB
• qlis-20231231_def.xml (EX-101.DEF) — 145KB
• qlis-20231231_lab.xml (EX-101.LAB) — 321KB
• qlis-20231231_pre.xml (EX-101.PRE) — 251KB
• form10-ka_htm.xml (XML) — 552KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 11 Item 1C. Cybersecurity 11 Item 2.

Properties

Properties 11 Item 3.

Legal Proceedings

Legal Proceedings 11 Item 4. Mine Safety Disclosures 11 PART II Item 5. Market for the Registrant's Common Stock, Related Stockholder Matters and Issuer Repurchases of Equity Securities 12 Item 6.

Selected Financial Data

Selected Financial Data 12 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 23 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 23 Item 9A

Controls and Procedures

Controls and Procedures 23 Item 9B Other Information 24 PART III Item 10. Directors, Executive Officers and Corporate Governance 24 Item 11.

Executive Compensation

Executive Compensation 27 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 30 Item 13. Certain Relationships and Related Transactions, and Director Independence 31 Item 14. Principal Accounting Fees and Services 32 PART IV Item 15. Exhibits, Financial Statement Schedules 33 2 EXPLANATORY NOTE Qualis Innovations, Inc. (the "Company") is filing this Amendment No. 1 on Form 10-K/A for the year ended December 31, 2023, to amend the Annual Report on Form 10-K that was originally filed on April 11, 2024 (the "Original 10-K") to (i) reflect that the Company is not an emerging growth company and that the Company is not required to file reports pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934; (ii) amend Item 9A of the Original 10-K; and (iii) reflect that Mr. Conte was appointed as a member of the Board of Directors of the Company on December 7, 2023. No other changes have been made to the Original Report, and this amended Annual Report is presented as of the filing date of the Original Report and does not reflect events occurring after that date or modify or update disclosures in any way other than as described herein. 3 DISCLOSURE REGARDING FORWARD LOOKING STATEMENTS This report contains forward-looking statements. The forward-looking statements are contained principally in the sections entitled "Description of Business," "Risk Factors," and "Management's Discussion and Analysis of Financial Condition and Results of Operations." These statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "anticipates," "believes," "seeks," "could," "estimates," "expects," "intends," "may," "plans," "potential," "pred

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View this 10-K/A filing on SEC EDGAR