Home / Going-concern warnings / Newbridge Acquisition Ltd
Filed 2026-03-23 路 Form 10-K 路 Accession 0001213900-26-032632 nano
Price before filing: n/a (n/a close, split/dividend-adjusted)
Market cap at flag: n/a 路 Latest: $2.4M (2026-10-14)
| Window | NBRG | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | n/a | n/a | n/a | |
| 90 days | n/a | n/a | n/a | |
| 180 days | n/a | n/a | n/a |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 3 insiders bought 558,750 shares (3 purchases)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-02-02 | Li Jining Director, 10% owner | Purchase | 186,250 | n/a | n/a | no | Form 4 |
| 2026-02-02 | Liu Yongsheng Chief Executive Officer, Director, 10% owner | Purchase | 186,250 | n/a | n/a | no | Form 4 |
| 2026-02-02 | Wealth Path Holdings Ltd 10% owner | Purchase | 186,250 | n/a | n/a | no | Form 4 |
| 2026-03-23: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-23 to 2026-04-22. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"For the year ended December 31, 2025, the Company had a net loss of $221,014 and negative operating cash flows of $221,014. that raises substantial doubt about its ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Going-concern opinion issued by: Enrome LLP
Source: independent auditor report in Form 10-K (period 2025-12-31)
Why this score: in auditor's report
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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