VITASPRING BIOMEDICAL CO. LTD. Annual Report - How They Did This Year

Hey there, fellow investor! Let's dive into VITASPRING BIOMEDICAL CO. LTD.'s performance for the fiscal year that ended on January 31, 2023.

This annual report was filed late. The company is working to catch up with all its required filings to the SEC, indicating that not all reports have been filed on time over the past year.

The company had to correct errors in its past financial statements, which were significant enough to be considered "restatements." These restatements triggered a review of incentive-based compensation (like bonuses) that executives received, meaning there's a possibility of recovering some of that money from top brass due to financial reporting accuracy issues.

On a positive note, the company submitted its interactive data files electronically.

VITASPRING BIOMEDICAL is currently classified as a "Smaller reporting company" and an "Emerging growth company." They have not opted for an extended transition period for new accounting standards.

Regarding its market value, as of July 31, 2023, the common stock had a bid price of $14.93. The stock was not actively traded or quoted on that date. As of November 26, 2025, there were 207,030,030 shares of common stock outstanding.

The company highlighted several potential risks that could impact its future:

• Product Development: Their ability to create, launch, and sell their functional-medicine and nutraceutical products.
• External Partners: Reliance on other companies for research, manufacturing, and supplies.
• Funding: The need to raise enough money to keep operations going.
• Competition: The competitive nature of the biomedical and nutraceutical industries.
• Key People: The potential impact of losing important employees or not being able to attract new talent.

Key Takeaways:

• VITASPRING BIOMEDICAL CO. LTD. is facing challenges with timely SEC filings and has undertaken significant financial statement restatements, leading to a review of executive incentive-based compensation.
• The company is classified as a Smaller reporting and Emerging growth company and has submitted interactive data files electronically.
• As of July 31, 2023, the common stock had a bid price of $14.93 but was not actively traded. There were 207,030,030 shares outstanding as of November 26, 2025.
• Identified risks include product development, reliance on external partners, funding, competition, and retaining key personnel.