iTonic Holdings Ltd no longer discloses a going-concern conclusion
Substantial doubt about ability to continue as a going concern→No going-concern disclosure
Going Concern As described further in Note 2 to the financial statements, the Company financial statements are prepared assuming that the Company will continue as a going concern. We determined the Company’s ability to continue as a going concern is a critical audit matter due to the estimation and uncertainty regarding the Company’s future cash flows and the risk of bias in management’s judgments and assumptions in estimating these cash flows. Our audit procedures related to the Company’s assertion on its ability to continue as a going concern included the following, among others: We…
Evidence
Blank check
No
Comparable
Yes
Current state
none
Current state label
No going-concern disclosure
Direction
eased
Located in
going-concern note
Prior filed
2026-03-30
Prior form
20-F
Prior state
substantial_doubt
Prior state label
Substantial doubt about ability to continue as a going concern
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.
iTonic Holdings Ltd disclosed substantial doubt about its ability to continue as a going concern in its first report following a change of registrant
The prior filing was made by a different business under the same CIK, so this is a new disclosure rather than a change.
Going Concern As reflected in the accompanying financial statements, during the year ended December 31, 2025, the Company incurred a to a net loss of $5,098,384 and negative cash flows from operating activities. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. We have evaluated the conditions or events that raise substantial doubt about the Company’s ability as a going concern within one year of issuance of the financial statements. While the Company continues operations and generates revenue, its cash position is insufficient to support…
Evidence
Blank check
No
Caveat
The prior filing was made by a different business under the same CIK, so this is a new disclosure rather than a change.
Comparable
No
Current state
substantial_doubt
Current state label
Substantial doubt about ability to continue as a going concern
Direction
not comparable
Located in
going-concern note
Prior filed
2025-03-20
Prior form
20-F
Registrant changed from
Pheton Holdings Ltd
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.
An accounting standard (ASU) appears in this filing that did not appear in the previous comparable one, in a sentence describing it as adopted. That is a change in what the company discloses, which is not always a change of policy in the current period: the filing may state an adoption date years earlier.