8-K: Kuber Resources CFO Departs Amidst Financial Reporting Woes

Kuber Resources Corporation announces the resignation of its CFO, Li Jiyong, citing disagreements and issues with financial statement completion, while appointing Raymond Fu as interim CFO.

Summary

• Kuber Resources Corporation (the Company) reported the resignation of its Chief Financial Officer, Mr. Li Jiyong, effective April 10, 2026.
• Mr. Li's resignation letter cited alleged non-observance of an agreement and disagreements with the Company's management and policies, which he claims prevented him from completing audited financial statements.
• The Company disputes Mr. Li's characterizations and reserves its rights.
• Raymond Fu has been appointed as the new Chief Financial Officer, effective August 21, 2026, while continuing his roles as CEO, President, Secretary, Treasurer, and director.
• The Company is unable to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, because essential books and records from its subsidiary, Gong Fa Cai, which were under Mr. Li's supervision, have not been made available.
• The Company is working with its independent auditors to complete the audit and intends to file the Annual Report as soon as practicable.
• No determination has been made regarding the reliability of previously issued financial statements.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a negative development due to the unexpected departure of the CFO and the ongoing issues with financial statement completion, which raise concerns about transparency and operational stability.

Positives

• Raymond Fu, with over 20 years of experience in finance and M&A, has been appointed as the new CFO, bringing extensive operational and management expertise.
• The Company is actively working with its independent registered public accounting firm to complete the audit and file the Annual Report.

Negatives

• The departure of the CFO, Mr. Li Jiyong, under contentious circumstances, including alleged disagreements and failure to complete audited financial statements.
• The Company's inability to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, due to unavailability of crucial subsidiary financial records.
• The Company disputes the former CFO's statements, indicating potential ongoing disputes and legal considerations.
• The uncertainty surrounding the completion of the audit and the filing of the Annual Report.

Risks

• The continued unavailability of necessary books, records, and supporting accounting documentation from the subsidiary Gong Fa Cai could further delay the completion of the audit and the filing of the Annual Report.
• Potential legal or financial repercussions arising from the dispute with the former CFO, Mr. Li Jiyong.
• The outcome of the Company's ongoing assessment of matters related to the financial statements and the potential for previously issued financial statements to be deemed unreliable.
• The risk that the Company's independent registered public accounting firm may not be able to complete the audit without the necessary documentation.

Future Outlook

The Company intends to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as soon as practicable, contingent upon obtaining the necessary books and records and completing the audit with its independent registered public accounting firm. The Company will continue to assess matters and make further disclosures as required.

Management Comments

• Mr. Li stated that his resignation resulted from the alleged non-observance of an agreement and disagreements with the operations, policies and practices of the Company under its current management, which prevented him from completing his duties, including the completion of audited financial statements.
• The Company disagrees with the statements and characterizations set forth in the Resignation Letter and reserves all rights and remedies available to it.
• The Company is working with its independent registered public accounting firm to complete the audit of its financial statements for the fiscal year ended December 31, 2025 and intends to file the Annual Report as soon as practicable.

Industry Context

StockSavvy.ai notes that delays in financial reporting and issues with audit completion, especially those stemming from internal disputes or lack of documentation, are significant red flags for investors and can lead to delisting concerns or increased scrutiny from regulators.

Management Changes

Legal Proceedings

• The Company reserves all rights and remedies available to it, including the right to investigate matters arising during Mr. Li's tenure as Chief Financial Officer and to take further action as the Board may determine to be appropriate.

Stakeholder Impact

• Shareholders: Potential negative impact due to delayed financial reporting, increased uncertainty, and potential disputes affecting company valuation and stock price.
• Creditors: May face increased risk due to lack of timely financial information, potentially impacting creditworthiness.
• Employees: Uncertainty regarding company stability and future operations.

Next Steps

• Obtain necessary books and records from the subsidiary Gong Fa Cai.
• Complete the audit of financial statements for the fiscal year ended December 31, 2025, with the independent registered public accounting firm.
• File the Annual Report on Form 10-K as soon as practicable.
• Continue to assess matters and make further disclosures as required by law and SEC rules.

Key Dates

Recommendation

The significant delays in filing the annual report, coupled with the contentious departure of the CFO and the dispute over financial records, create substantial uncertainty and risk. These factors suggest underlying operational and financial reporting issues that are likely to negatively impact the stock price until resolved.

Keywords

CFO resignation, Financial reporting, Annual Report delay, Audit completion, Corporate governance, Subsidiary records, Management dispute