Get notified when RLEA files again. Create a free account and we'll email you the moment its next filing is analyzed.

Get filing alerts

Red Flags Detected

  • Material Weakness (new) — The company discloses material weaknesses in internal control over financial reporting, a significant governance red flag.
  • Related-party Sales Dependence (new) — Sales are substantially dependent on related parties Shanghai Xinsen and Shanghai Huaxin, creating concentration and conflict-of-interest risks.
  • Related-party Supplier Concentration (new) — 100% of raw materials are sourced from Yongliansen, a related party in which the CEO holds a 30% stake, with no alternative suppliers.
  • Disposal of Main Operating Subsidiary to Related Party (new) — The company sold its primary operating subsidiary RLSP to Yongliansen, a related party, for $3M, shifting operations to a new Hong Kong entity.
  • Working Capital Deficit and Minimal Cash (new) — As of June 30, 2026, the company had cash of $1,361 and a working capital deficit of $2,294,310, indicating liquidity strain.
  • Key Person Dependence (new) — The company's success is substantially dependent on founder and CEO Xingxiu Hua, with no succession plan disclosed.
RLEA RLEA S-1/A

Rubber Leaf (RLEA) files S-1/A for $6.2M primary offering at $4.00/share, with $22.3M net proceeds on over-allotment basis

Filed August 17, 2026 · ~2 min read

Key Changes

  • high

    RLEA plans to sell 1,562,500 primary shares at a preliminary price of $4.00 per share, raising $6.2M gross for the company.

    The Offering verify on EDGAR →
  • high

    Net proceeds to the company are estimated at $22.3M (or $25.8M if underwriters' over-allotment is fully exercised), after underwriting discounts and expenses.

    Use of Proceeds verify on EDGAR →
  • high

    New investors face immediate dilution of $3.52 per share, as net tangible book value per share after the offering is only $0.48.

    Dilution verify on EDGAR →

6 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

Read 3 full reports/month free No card required. Takes 30 seconds.

Want to see a complete report first? Today's free report (CRWD 10-Q) is open in full — no account needed.

Partner

Trade RLEA commission-free

Open an account, get a free stock.

Sign up

Investing involves risk. Free stock terms apply.

Was this report useful?
View original filing on SEC.gov

Figures/quotes linked to EDGAR · Narrative written by AI · Aug 30, 2026 · How we verify