EOS INC.

CIK:0001651958|SEC Filings

Consolidated Statements of Operation and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net sales	$ 296,852	$ 652,547
Cost of sales	(102,975)	(365,282)
Gross profit	193,877	287,265
Selling, general and administrative expenses	(966,486)	(2,208,876)
(Loss) from operations	(772,609)	(1,921,611)
Other income (expense)
Interest expense	(6,859)	(4,512)
Other income	147,532	3,871
Total other income (expense)	140,673	(641)
Loss before income tax provision	(631,936)	(1,922,252)
Income tax benefits (expenses)	0	10,093
Net Loss	(631,936)	(1,912,159)
Other Comprehensive Loss:
Net loss attributable to non-controlling interests	(4,782)	(41,294)
Net loss attributable to EOS and subsidiaries	(627,154)	(1,870,865)
Foreign currency translation adjustment, net of tax	(44,434)	(91,532)
Comprehensive loss	$ (676,370)	$ (2,003,691)
Net loss per share:
Basic	$ 0	$ (0.01)
Diluted	$ 0	$ (0.01)
Weighted average number of common shares:
Basic	219,639,094	182,376,491
Diluted	219,639,094	182,376,491

Consolidated Statements Of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements Of Cash Flows - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities
Net loss	$ (631,936)	$ (1,912,159)
Adjustments to reconcile net income to net cash provided by operating activities
Provision for doubtful debts	0	272,843
Reversal of provision for doubtful debts	(148,452)	0
Depreciation	833	3,257
Amortization of right-of-use asset	32,042	26,296
Impairments of assets	27	1,060,300
Inventories written off	4,392	0
Stock based compensation	41,019	1,231
Changes in assets and liabilities
Decrease in accounts receivable	86,463	88,021
Increase in inventory	(37,754)	(20,006)
Decrease in advance to suppliers	5,415	89,547
Decrease (increase) in security deposits and other assets	18,140	(2,721)
Increase in accounts payable	9,761	0
Increase in accrued expenses	343,189	243,517
Increase (decrease) in advances from customers	(4,083)	13,261
Decrease in income tax payable	(3,756)	(1,805)
Decrease in operating lease liabilities	(32,617)	(26,296)
Net cash used in operating activities	(317,317)	(164,714)
Cash flows from investing activity
Purchase of equipments	(1,834)	(19,193)
Net cash used in investing activity	(1,834)	(19,193)
Cash Flows from financing activities
Repayment to related party	(70,311)	0
Proceeds from related party	498,180	254,835
Repayment to borrowings	(66,134)	(74,689)
Net cash provided by financing activities	361,735	180,146
Effect of foreign currency translation on cash and cash equivalents	(46,446)	(2,211)
Net decrease of cash and cash equivalents	(3,862)	(5,972)
Cash and cash equivalents
Beginning	18,169	24,141
Ending	14,307	18,169
Cash paid during the periods for:
Interest	4,660	0
Income taxes	0	0
Non-cash financing and investing activities:
Related party debt converted to Common stock	345,000
Related party debt converted to Common stock	55,000
Compensation expense relating to issuance of restricted common stock	$ 41,019
Deferred compensation expense relating to issuance of restricted common stock		38,534
Deferred compensation expense relating to issuance of warrant		$ 2,140

Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 14,307	$ 18,169
Accounts receivable	224,590	160,253
Inventory, net	79,482	46,196
Advances to suppliers	161,179	166,594
Security deposits	3,802	6,608
Prepaid expenses and other current assets	3,959	28,096
Total Current Assets	487,319	425,916
Non-Current Assets
Property, plant and equipment, net	5,660	4,692
Operating lease right of use asset	4,192	115,884
Total Non-Current Assets	9,852	120,576
Total Assets	497,171	546,492
Current Liabilities
Accounts payable	9,761	0
Other payable and accrued expenses	309,103	73,352
Due to shareholders	74,065	277,080
Income taxes payable	45,318	49,074
Other current liabilities	1,000,000	750,000
Operating lease liabilities - current	2,818	48,231
Current portion of long-term loan payables	53,165	68,497
Total Current Liabilities	1,494,230	1,266,234
Non-Current Liabilities
Long-term loan payables	65,210	116,012
Operating lease liabilities - non-current	1,374	80,538
Total Non-Current Liabilities	66,584	196,550
Total Liabilities	1,560,814	1,462,784
Commitments and Contingencies
Shareholders' Deficit
Preferred stock ($0.001 par value, 5,000,000 shares authorized, 1,500,000 shares issued and outstanding as of December 31, 2023 and 2022, respectively)	1,500	1,500
Common stock ($0.001 par value; 1,000,000,000 shares authorized, 604,781,560 and 183,781,560 shares issued and outstanding as of December 31, 2023 and 2022, respectively)	604,781	183,781
Additional paid in capital	175,268	67,249
Deferred stock compensation	(40,674)	(40,674)
Accumulated loss	(1,802,695)	(1,165,665)
Accumulated other comprehensive income (loss)	(1,823)	42,964
Total deficit attributable to EOS, Inc.	(1,063,643)	(910,845)
Non-controlling interest	0	(5,447)
Total Deficit	(1,063,643)	(916,292)
Total Liabilities and Shareholders' Deficit	$ 497,171	$ 546,492