Newegg Commerce, Inc. Files 2023 Annual Report on Form 20-F

TL;DR

<b>Newegg Commerce, Inc. has filed its 2023 annual report on Form 20-F, detailing its financial status and share information.</b>

AI Summary

Newegg Commerce, Inc. (NEGG) filed a Foreign Annual Report (20-F) with the SEC on April 24, 2024. Newegg Commerce, Inc. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The report confirms 380,413,497 common shares outstanding as of December 31, 2023. The company is incorporated in the British Virgin Islands. Its principal executive offices are located at 17560 Rowland Street, City of Industry, CA 91748. Common shares of Newegg Commerce, Inc. are traded on The Nasdaq Capital Market under the symbol NEGG.

Why It Matters

For investors and stakeholders tracking Newegg Commerce, Inc., this filing contains several important signals. This filing provides stakeholders with an official update on the company's performance and structure for the fiscal year 2023. The Form 20-F is a crucial document for international companies listed on U.S. exchanges, offering transparency to investors.

Risk Assessment

Risk Level: low — Newegg Commerce, Inc. shows low risk based on this filing. The filing is a standard annual report and does not contain new financial performance data or significant strategic shifts, indicating a low level of immediate risk or actionable insight.

Analyst Insight

Monitor future filings for financial results and operational updates from Newegg Commerce, Inc.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period covered by the annual report)
• 380,413,497 — Outstanding Common Shares (As of December 31, 2023)
• 2024-04-24 — Filing Date (Date the 20-F report was filed)

Key Players & Entities

• Newegg Commerce, Inc. (company) — Filer of the 20-F report
• Christina Ching (person) — Chief Accounting Officer and Company Contact Person
• The Nasdaq Capital Market (company) — Exchange where NEGG common shares are registered
• NEGG (company) — Trading symbol for Newegg Commerce, Inc. common shares
• Lianluo Smart Ltd (company) — Former name of Newegg Commerce, Inc.
• Dehaier Medical Systems Ltd (company) — Former name of Newegg Commerce, Inc.

FAQ

Industry Context

Newegg Commerce operates in the retail sector, specifically focusing on e-commerce for electronics and computer hardware. As a publicly traded company on Nasdaq, it adheres to SEC reporting requirements.

Regulatory Implications

As a foreign private issuer incorporated in the British Virgin Islands and listed on a U.S. exchange, Newegg Commerce, Inc. is subject to SEC regulations, including the filing of annual reports on Form 20-F.

What Investors Should Do

1. Review the full Form 20-F for detailed financial statements and management discussion.
2. Track future SEC filings for updates on Newegg's financial performance and strategic initiatives.
3. Monitor NEGG's stock performance on The Nasdaq Capital Market.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
• 2024-04-24: Filing Date — The date Newegg Commerce, Inc. submitted its 20-F annual report.

Year-Over-Year Comparison

This filing is the annual report for the fiscal year ended December 31, 2023, and serves as the primary update following previous filings.

Key Financial Figures

• $0.021848 — ch registered Common Shares, par value $0.021848 NEGG The Nasdaq Capital Market Securi

Filing Documents

• ea0203516-20f_newegg.htm (20-F) — 2860KB
• ea020351601ex8-1_newegg.htm (EX-8.1) — 2KB
• ea020351601ex12-1_newegg.htm (EX-12.1) — 9KB
• ea020351601ex12-2_newegg.htm (EX-12.2) — 9KB
• ea020351601ex13-1_newegg.htm (EX-13.1) — 3KB
• ea020351601ex13-2_newegg.htm (EX-13.2) — 3KB
• ea020351601ex15-1_newegg.htm (EX-15.1) — 2KB
• ea020351601ex97-1_newegg.htm (EX-97.1) — 25KB
• image_001.jpg (GRAPHIC) — 158KB
• image_002.jpg (GRAPHIC) — 237KB
• 0001213900-24-035840.txt (&nbsp;) — 11383KB
• negg-20231231.xsd (EX-101.SCH) — 67KB
• negg-20231231_cal.xml (EX-101.CAL) — 64KB
• negg-20231231_def.xml (EX-101.DEF) — 381KB
• negg-20231231_lab.xml (EX-101.LAB) — 702KB
• negg-20231231_pre.xml (EX-101.PRE) — 397KB
• ea0203516-20f_newegg_htm.xml (XML) — 1482KB

SIGNATURES

SIGNATURES 96 i DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS This annual report contains forward-looking statements that reflect our current expectations and views of future events, all of which are these statements by the fact that they do not relate strictly to historical or current facts. You can find many (but not all) of these "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions in this annual report. These statements are likely to address our growth strategy, financial results and product and development programs. You must carefully consider any such statements and should understand that many factors could cause actual results to differ from our forward-looking statements. These factors may include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward-looking statement can be guaranteed and actual future results may vary materially. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to: future financial and operating results, including revenues, income, expenditures, cash balances and other financial items; our ability to execute our growth and expansion, or manage our contraction, including our ability to meet our goals; current and future economic and political conditions; our ability to compete in an industry with low barriers to entry; our capital requirements and our ability to raise any additional financing which we may require; our ability to attract customers, and further enhance our brand recognition; our ability to hire and retain qualified management personnel

Risk Factors

Risk Factors An investment in the Company's securities involves a high degree of risk. You should carefully consider the risks and uncertainties described below together with the other information set forth in this annual report. If any of the following risks or uncertainties actually occurs, our business, financial position and results of operations could be materially and adversely affected. In such case, the trading price of our securities could decline and you may lose all or part of your investment. Our business, financial condition, prospects, results of operations or cash flows could also be harmed by risks and uncertainties not currently known to us or that we currently do not believe are material. We cannot assure you that any of the events discussed in the risk factors below will not occur. The risks described below are organized by risk type and are not listed in order of their priority to us. Summary of Factors That May Affect Our Future Results The following summarizes the principal factors that make an investment in the Company speculative or risky. This summary should be read in conjunction with the remainder of this "Risk Factors" section and should not be relied upon as an exhaustive summary of the material risks facing our business. The occurrence of any of these risks could harm our business, financial condition, and results of operations or cause our actual results to differ materially from those contained in forward-looking statements we have made in this annual report. You should consider all of the risk factors described in our public filings when evaluating our business, including risks relating to: the impact of global macroeconomic conditions on consumer spending; the intense domestic and international competition we face; any decline in demand for IT/CE products; our reputation and business if we or Newegg Marketplace sellers sell pirated, counterfeit, illegal or "gray market" items; our inability to provide a satisfactory

View Full Filing

View this 20-F filing on SEC EDGAR