NOCERA Amends 2024 10-K for Segment Reporting Restatement

TL;DR

**NOCERA's 10-K/A for 2024 is a red flag, signaling potential misrepresentation in segment performance that demands immediate investor scrutiny.**

AI Summary

NOCERA, INC. (NCRA) filed a 10-K/A Amendment No. 2 on June 20, 2025, primarily to restate Note 25, Segment Reporting, for the fiscal year ended December 31, 2024. This amendment indicates a correction to previously reported financial segment data, which is crucial for understanding the company's operational performance across its different business lines. While specific revenue and net income figures are not detailed in the provided excerpt, the restatement of segment reporting suggests potential adjustments to how revenue and profitability are allocated or presented across segments. The filing also updates the company's business address to 2030 Powers Ferry Rd., SE, Suite 212, Atlanta, GA 30339. The amendment covers the period from January 1, 2024, to December 31, 2024, and includes updates to equity components such as Common Stock, Preferred Stock, Additional Paid-In Capital, and Retained Earnings for both 2023 and 2024. The restatement of segment reporting could impact investor perception of the company's core business profitability and future growth prospects, especially if the original reporting miscategorized significant revenue streams or expenses. The filing also references a 'XFC Sale' and 'Restricted Stock' from December 30-31, 2020, indicating historical equity transactions.

Why It Matters

This 10-K/A filing is significant for investors as it corrects how NOCERA, INC. reports its segment performance, which can alter the perceived profitability and growth drivers of its individual business units. Accurate segment reporting is vital for competitive analysis, allowing investors to compare NCRA's operational efficiency against peers in the agriculture production and livestock specialties sector. Employees might see shifts in internal resource allocation or strategic focus based on the revised segment data. Customers could be indirectly affected if the restatement leads to changes in product or service offerings. The broader market will scrutinize this restatement for transparency and governance, especially given the importance of accurate financial disclosures.

Risk Assessment

Risk Level: medium — The restatement of Note 25, Segment Reporting, for the fiscal year ended December 31, 2024, introduces a medium risk. While not explicitly detailing a financial loss, any restatement, especially concerning how a company's core operations are segmented and reported, can erode investor confidence and suggest prior inaccuracies in financial disclosures. This could lead to questions about the reliability of other financial data.

Analyst Insight

Investors should thoroughly review the amended Note 25 to understand the specific changes in segment reporting and assess their impact on NOCERA's financial health and strategic direction. Consider this a prompt to re-evaluate NCRA's competitive positioning and operational efficiency, potentially adjusting investment theses based on the revised segment data.

Key Numbers

• 2024-12-31 — Fiscal Year End (The period for which the 10-K/A is amending information.)
• 2025-06-20 — Filing Date (The date the 10-K/A was filed with the SEC.)
• Amendment No. 2 — Amendment Number (Indicates this is the second amendment to the 10-K.)
• Note 25 — Restated Section (The specific note in the financial statements that was restated.)
• 001-41434 — SEC File Number (Unique identifier for NOCERA's filings with the SEC.)

Key Players & Entities

• NOCERA, INC. (company) — Filer of the 10-K/A amendment
• SEC (regulator) — Recipient of the 10-K/A filing
• 001-41434 (regulator) — SEC File Number for NOCERA, INC.
• 2025-06-20 (date) — Date of 10-K/A filing
• 2024-12-31 (date) — Conformed Period of Report end date
• 2030 Powers Ferry Rd., SE, Suite 212, Atlanta, GA 30339 (company) — NOCERA, INC.'s business address
• Note 25 (document_section) — Specific section of the 10-K being restated
• Segment Reporting (document_section) — Topic of the restated note
• XFC Sale (event) — Historical equity transaction mentioned in the filing
• Restricted Stock (financial_instrument) — Type of stock involved in a historical transaction

FAQ

Industry Context

NOCERA, INC. operates within the AGRICULTURE PRODUCTION - LIVESTOCK & ANIMAL SPECIALTIES sector. This industry is characterized by cyclical demand, commodity price volatility, and increasing regulatory scrutiny regarding animal welfare and environmental impact. Companies in this space often face challenges related to disease outbreaks, feed costs, and competition from larger, vertically integrated players.

Regulatory Implications

The restatement of segment reporting could attract scrutiny from the SEC and investors regarding the accuracy and completeness of prior disclosures. Companies are expected to maintain robust internal controls over financial reporting to prevent such errors.

What Investors Should Do

1. Review the restated Note 25 in detail.
2. Analyze historical segment data for consistency.
3. Monitor future segment disclosures for clarity and accuracy.

Key Dates

• 2024-12-31: Fiscal Year End — This is the end of the reporting period for which the 10-K/A amendment provides updated financial information.
• 2025-06-20: Filing Date of Amendment No. 2 — Indicates the date the company officially filed the amended 10-K with the SEC, providing updated segment reporting.
• 2020-12-30: XFC Sale and Restricted Stock Transaction — Historical equity transaction noted in the filing, potentially relevant for understanding past capital structure changes.

Glossary

10-K/A

An amended annual report filed with the SEC, used to correct or supplement information previously filed in a 10-K. (This filing is an amendment to NOCERA's annual report, indicating corrections or updates to previously submitted financial data.)

Segment Reporting

A disclosure requirement that mandates companies to report financial information about operating segments that are significant to their overall business. (Note 25, Segment Reporting, was restated, meaning the company has revised how it presents financial data for its different business units.)

Restatement

The process of correcting previously issued financial statements due to errors or misstatements. (The amendment specifically restates Note 25, indicating that the segment reporting data for fiscal year 2024 contained errors that have now been corrected.)

Additional Paid-In Capital

The amount of capital raised by a company from the issuance of stock above its par value. (This equity component was updated for fiscal years 2023 and 2024, reflecting changes in stock issuance or related transactions.)

Retained Earnings

The cumulative amount of net income that a company has retained over time, rather than distributing as dividends. (This equity component was also updated for fiscal years 2023 and 2024, reflecting the company's profitability and dividend policy.)

Year-Over-Year Comparison

This filing is an amendment (Amendment No. 2) to a previous 10-K, specifically restating Note 25, Segment Reporting, for the fiscal year ended December 31, 2024. The amendment indicates that previously reported segment data required correction. While specific comparative financial metrics like revenue growth or margin changes are not detailed in the provided excerpt, the act of restatement itself suggests a need for greater clarity and accuracy in financial disclosures. No new risk factors or significant financial highlights are detailed in this amendment excerpt, but the correction implies potential shifts in how operational performance is understood across segments.

Filing Details

This Form 10-K/A (Form 10-K/A) was filed with the SEC on June 20, 2025 regarding NOCERA, INC. (NCRA).

View full filing on EDGAR

View Full Filing

View this 10-K/A filing on SEC EDGAR