Going concern
Filing comparison
MMTEC, INC. disclosed substantial doubt about its ability to continue as a going concern
No going-concern disclosure → Substantial doubt about ability to continue as a going concern
The XChange Note is secured by all of the issued and outstanding equity of Alpha Mind and all of the assets of Alpha Mind and its subsidiaries. In its Annual Report on Form 20-F for the fiscal year ended September 30, 2025, XChange disclosed that its independent registered public accounting firm included an explanatory paragraph in its audit report questioning XChange’s ability to continue as a going concern. XChange reported that it generated net losses of RMB 71.3 million, RMB 226.8 million, and RMB 748.4 million (approximately $105.1 million) in fiscal years 2023, 2024, and 2025…
Evidence
- Blank check
- No
- Comparable
- Yes
- Current state
- substantial_doubt
- Current state label
- Substantial doubt about ability to continue as a going concern
- Direction
- escalated
- Located in
- filing body
- Prior filed
- 2025-04-09
- Prior form
- 20-F
- Prior state
- none
- Prior state label
- No going-concern disclosure
- Source
- ASC 205-40 going-concern note comparison
- Why
- Disclosure about the company's ability to continue as a going concern changed compared with its previous report.