SOS Ltd
SOS · Security & Commodity Brokers, Dealers, Exchanges & Services · EDGAR filings ↗
Reference price $1.64 — last insider sale, 2026-01-28 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
F38Distressed China-based commodities-trading/crypto micro-cap with material control weaknesses and essentially no cash runway.
Strengths
- Holds ~802 BTC and ~2,950 ETH (~$79M) providing some balance-sheet cushion
- Reported current ratio 11x on a shrunken balance sheet
Risks
- Cash runway ~0.1 quarters (4th pct), deeply negative margins (net margin -63%, gross margin 1.5%) and FCF of -$246M
- Identified material weaknesses in revenue-recognition controls, VIE structure, China/PRC regulatory exposure and revenue down 33%
Notable findings
- Net lossNet loss (net margin -63.1%)
- Cash burnNegative free cash flow (-246.5M)
- Material weakness● Management has identified material weaknesses in our internal controls over revenue recognition for our commodities trading business
- Revenue declineRevenue -33.3% YoY
Key metrics
Gross margin
1.5%
Operating margin
-63.9%
Net margin
-63.1%
Return on assets
-20.9%
Revenue growth (QoQ)
-33.3%
Current ratio
11.0×
Free cash flow
-$247M
EBITDA
-$90M
Cash & investments
$3M
Cash runway
0q
Stock comp / revenue
4.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-01-28 | Brown Douglas Lewis | Sell | 13K | $1.64 |
| 2026-01-28 | Brown Douglas Lewis | Sell | 13K | $1.64 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT05764499 ↗ | Physiotherapy Scoliosis Specific Exercise Improves Truncal Shift in Idiopathic Scoliosis Scoliosis, Apical Deviation | — | Completed | 2021-12-31 |
| NCT03462264 ↗ | Strategies to Improve Home Exercise Compliance in Patients With Scoliosis: the Use of a Mobile Application Scoliosis | NA | Unknown | 2018-12-21 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-05-15 | 2025-12-31 | 0001213900-26-057725 ↗ |
| 20-F | 2025-05-15 | 2024-12-31 | 0001213900-25-044183 ↗ |
| 20-F | 2024-05-15 | 2023-12-31 | 0001213900-24-043545 ↗ |
| 20-F | 2023-05-18 | 2022-12-31 | 0001213900-23-041000 ↗ |
| 20-F | 2022-05-02 | 2021-12-31 | 0001213900-22-023020 ↗ |
| 20-F | 2021-05-05 | 2020-12-31 | 0001213900-21-024630 ↗ |
| 20-F | 2020-06-15 | 2019-12-31 | 0001564590-20-029350 ↗ |
| 20-F | 2019-11-13 | 2018-12-31 | 0000950123-19-010836 ↗ |
| 20-F | 2018-04-30 | 2017-12-31 | 0001564590-18-009696 ↗ |