secwatch.observer — SEC 8-K summary
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Issuer:     JRSIS HEALTH CARE Corp (JRSS)
CIK:        0001597892
Form:       8-K
Filed at:   2023-12-01T23:59:59+00:00
Accession:  0001213900-23-091897
Event type: m_and_a
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 3.02, 5.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

JRSIS issues 92.9% of shares to acquire Yongzhou JIT via VIE; change of control
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- Issued 76,757,439 common shares (92.9% of outstanding) to Jumi GCL for VIE agreements with Yongzhou JIT.
- CEO Zhifei Huang, CFO Zhuowen Chen resign; Linhai Zhu appointed CEO/CFO/Treasurer; Zhuowei Zhong named Secretary.
- Yongzhou JIT (accounting acquirer) had 2022 revenue of $1.72M, net loss of $673k; $3.93M accumulated deficit.
- Auditor's report includes going-concern emphasis; company abandoned prior business plan.
- Transaction treated as reverse acquisition; Yongzhou JIT is accounting acquirer.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1597892/000121390023091897/0001213900-23-091897-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1597892/000121390023091897/ea189282-8k_jrsishealth.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-091897

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