Home / Going-concern warnings / Bowen Acquisition Corp
Filed 2025-04-15 路 Form 10-K 路 Accession 0001641172-25-004916 micro
Price before filing: $7.22 (2025-04-14 close, split/dividend-adjusted)
Market cap at flag: $53.0M (2025-04-15) 路 Latest: $7.0M (2026-01-05)
| Window | BOWN | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +71.3% | +9.5% | +61.8% | 2025-05-15 |
| 90 days | +26.6% | +16.2% | +10.4% | 2025-07-14 |
| 180 days | +27.3% | +23.7% | +3.6% | 2025-10-13 |
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: no open-market insider sales or purchases reported.
30 days after: 1 insider sold $914K (24 sales)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-04-15: red flag filed | |||||||
| 2025-04-22 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 2,755 | $20.07 | $55K | no | Form 4 |
| 2025-04-22 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 934 | $21.01 | $20K | no | Form 4 |
| 2025-04-22 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 469 | $22.00 | $10K | no | Form 4 |
| 2025-04-22 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 3,273 | $23.24 | $76K | no | Form 4 |
| 2025-04-22 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 1,578 | $24.04 | $38K | no | Form 4 |
| 2025-04-22 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 1,430 | $26.59 | $38K | no | Form 4 |
| 2025-04-22 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 27 | $27.00 | $729 | no | Form 4 |
| 2025-04-23 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 16,677 | $11.39 | $190K | no | Form 4 |
| 2025-04-23 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 57 | $12.12 | $691 | no | Form 4 |
| 2025-04-23 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 4,839 | $15.26 | $74K | no | Form 4 |
| 2025-04-23 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 1,348 | $16.22 | $22K | no | Form 4 |
| 2025-04-23 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 1,000 | $20.00 | $20K | no | Form 4 |
| 2025-04-23 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 1,314 | $22.03 | $29K | no | Form 4 |
| 2025-04-23 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 1 | $23.54 | $24 | no | Form 4 |
| 2025-04-24 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 100 | $11.24 | $1K | no | Form 4 |
| 2025-04-24 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 3,160 | $12.54 | $40K | no | Form 4 |
| 2025-04-24 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 3,140 | $13.07 | $41K | no | Form 4 |
| 2025-05-06 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 6,337 | $11.40 | $72K | no | Form 4 |
| 2025-05-06 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 118 | $12.11 | $1K | no | Form 4 |
| 2025-05-07 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 1,433 | $11.35 | $16K | no | Form 4 |
| 2025-05-07 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 418 | $12.10 | $5K | no | Form 4 |
| 2025-05-08 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 5,376 | $12.08 | $65K | no | Form 4 |
| 2025-05-09 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 2,800 | $12.04 | $34K | no | Form 4 |
| 2025-05-12 | Harraden Circle Investments, LLC (+5 joint filers) 10% owner | Sale | 5,432 | $12.12 | $66K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-01-15 to 2025-05-15. 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.
"In connection with our assessment of going concern considerations in accordance with Accounting Standards Update ("ASU") 2014-15, "Disclosures of Uncertainties about an Entity's Ability to Continue as a Going Concern," we believe that these conditions raise substantial doubt about our 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.
Source: management disclosure in Form 10-K (period 2024-12-31)
Why this score: also within 90 days: Late quarterly report (NT 10-Q)
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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