OTC: SHFH
Scientist Home Future Health LtdCIK 0002032609 · SIC 2844 · Perfumes & Cosmetics
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Scientist Home Future Health Limited (“we”, “us”, “our”, or the “Company”), was incorporated on July 3, 2024 in the State of Nevada. About this business →
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Latest financial statements
From 10-Q filed Oct 30, 2026 (period ending Sep 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited)
| Description | Three months ended September 30, 2026 (unaudited) | Three months ended September 30, 2025 (unaudited) | Nine months ended September 30, 2026 (unaudited) | Nine months ended September 30, 2025 (unaudited) |
|---|---|---|---|---|
| Revenues: | ||||
| Retail trading revenue | 209,623 | 39,604 | 474,779 | 115,980 |
| Service revenue | 2,361 | - | 10,264 | - |
| Total revenues | 211,984 | 39,604 | 485,043 | 115,980 |
| Cost of revenues: | ||||
| Cost of revenues (including $90,964 and $23,534 of cost of revenues to related party for the three months ended September 30, 2026 and 2025 respectively; including $275,846 and $66,682 of cost of revenues to related party for the nine months ended September 30, 2026 and 2025) | (90,964) | (23,534) | (275,846) | (66,682) |
| Cost of service revenue | - | - | - | - |
| Total cost of revenues | (90,964) | (23,534) | (275,846) | (66,682) |
| Gross profit | 121,020 | 16,070 | 209,197 | 49,298 |
| Selling, general and administrative expenses (including $5,738 and $5,768 of selling, general and administrative expenses to related party for the three months ended September 30, 2026 and 2025 respectively; including $17,241 and $13,459 of selling, general and administrative expenses to related party for the nine months ended September 30, 2026 and 2025) | (112,808) | (63,915) | (400,909) | (128,297) |
| Income/(Loss) from operation | 8,212 | (47,845) | (191,712) | (78,999) |
| Other Income | - | - | - | - |
| Income/(Loss) before income tax | 8,212 | (47,845) | (191,712) | (78,999) |
| Income tax expense | - | - | - | - |
| Net income/(loss) | 8,212 | (47,845) | (191,712) | (78,999) |
| Other comprehensive income/(loss): | ||||
| Foreign currency translation | (93) | (2,184) | 116 | (1,977) |
| Total comprehensive income/(loss) | 8,119 | (50,029) | (191,596) | (80,976) |
| Net income/(loss) per share, basic and diluted | 0.00 | (0.00) | (0.01) | (0.00) |
| Weighted average number of common shares outstanding basic and diluted | 23,716,000 | 23,660,554 | 23,716,000 | 23,548,106 |
Condensed Consolidated Balance Sheets (Unaudited)
| Description | As of September 30, 2026 (Unaudited) | As of December 31, 2025 (Audited) |
|---|---|---|
| Current assets | ||
| Cash and cash equivalents | 13,653 | 68,888 |
| Inventories | 129,162 | 34,006 |
| Deposits and prepayments | 83,260 | 89,352 |
| Total current assets | 226,075 | 192,246 |
| Non-current assets | ||
| Right-of-use assets, net (including $16,908 and $33,435 of right-of-use assets from related party as of September 30, 2026 and December 31, 2025, respectively) | 320,383 | 378,944 |
| Property, plant and equipment, net | 61,440 | 73,175 |
| Total non-current assets | 381,823 | 452,119 |
| Total assets | 607,898 | 644,365 |
| Liabilities and stockholders’ equity | ||
| Current liabilities | ||
| Other payables and accrued liabilities | 55,727 | 44,635 |
| Income tax payable | 1,816 | 1,831 |
| Amount due to a related party | 264,437 | 78,260 |
| Amount due to a director | 31,410 | 15,565 |
| Lease liability current portion (including $16,908 and $21,997 of lease liability – current portion to related party as of September 30, 2026 and December 31, 2025, respectively) | 70,731 | 74,167 |
| Total current liabilities | 424,121 | 214,458 |
| Non-current liabilities | ||
| Lease liability non-current portion (including $Nil and $11,438 lease liability – non-current portion to related party as of September 30, 2026 and December 31, 2025, respectively) | 261,982 | 316,516 |
| Total non-current liabilities | 261,982 | 316,516 |
| Total liabilities | 686,103 | 530,974 |
| Stockholders’ equity | ||
| Common stock, par value $0.0001; 200,000,000 shares authorized, 23,716,000 and 23,716,000 issued and outstanding as of September 30, 2026 and December 31, 2025, respectively | 2,372 | 2,372 |
| Additional paid in capital | 360,588 | 360,588 |
| Accumulated other comprehensive loss | (2,748) | (2,864) |
| Accumulated deficit | (438,417) | (246,705) |
| Total stockholders’ deficit | (78,205) | 113,391 |
| Total liabilities and stockholders’ equity | 607,898 | 644,365 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Description | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|
| Net loss | (191,712) | (78,999) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 11,167 | - |
| Amortization of operating lease right-of-use assets | 55,618 | 6,592 |
| Changes in operating assets and liabilities: | ||
| Inventories | (95,634) | 641 |
| Deposits and prepayments | 5,395 | (48,005) |
| Other payables and accrued liabilities | 11,362 | (9,952) |
| Amount due to a related party | 129,501 | 23,919 |
| Change in lease liability | (54,930) | (3,670) |
| Net cash used in operating activities | (129,233) | (109,474) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Issuance of shares | - | 354,000 |
| Amount due to a director | 15,954 | 1,625 |
| Amount due to a related party | 58,380 | 12,818 |
| Net cash provided by financing activities | 74,334 | 368,443 |
| Effect of exchange rate changes in cash and cash equivalents | (336) | (1,980) |
| Net (decrease)/increase in cash and cash equivalents | (55,235) | 256,989 |
| Cash and cash equivalents, beginning of period | 68,888 | 18,621 |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | 13,653 | 275,610 |
| SUPPLEMENTAL CASH FLOWS INFORMATION | ||
| Income taxes paid | - | - |
| Interest paid | - | - |
| SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
| Right-of-use assets obtained in exchange for new operating lease liabilities | - | 403,886 |
| Expenses paid by related party B on behalf of the Company | 129,210 | 86,676 |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
About Scientist Home Future Health Ltd
Source: Item 1 (Business) from the 10-K filed March 27, 2026. Description as filed by the company with the SEC.
ITEM 1. BUSINESS
Description of Business
Corporate History
Scientist Home Future Health Limited (“we”, “us”, “our”, or the “Company”), was incorporated on July 3, 2024 in the State of Nevada.
On July 3, 2024, Mr. Chan Siu Hung was appointed as the Chief Executive Officer, Chief Financial Officer, President, Treasurer, Secretary, and Director of the Company.
On July 3, 2024, we sold 100,000 shares of restricted Common Stock to Mr. Chan Siu Hung, at a price of $0.0001 per share of Common Stock. The total subscription amount paid by Mr. Chan was $10. Mr. Chan serves as our Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer, and Director.
On August 14, 2024, we sold 19,900,000 shares of restricted Common Stock to Mr. Chan Siu Hung, at a price of $0.0001 per share of Common Stock. The total subscription amount paid by Mr. Chan was $1,990.
On September 9, 2024, we sold 1,160,000 shares of restricted Common Stock to Chee Lay Peng, Chan Yan Kit, and Yuen Wai Ling, at a price of $0.002 per share of Common Stock. The total subscription amount paid by each party was $2,320. The total number of shares sold pursuant to the aforementioned transactions was 3,480,000.
The proceeds from the sale of all the shares mentioned above went to the Company to be used as working capital.
The aforementioned sales of shares were conducted pursuant to Regulation S of the Securities Act of 1933, as amended (“Regulation S”). The sales of shares were made only to non-U.S. persons/entities (as defined under Rule 902 section (k)(2)(i) of Regulation S), pursuant to offshore transactions, and no directed selling efforts were made in the United States by the issuer, a distributor, any of their respective affiliates, or any person acting on behalf of any of the foregoing.
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On September 26, 2024, the Company acquired 100% of Scientist Home Holding, a company incorporated in the Republic of Marshall Islands on July 8, 2024, from Mr. Chan Siu Hung, who is our Chief Executive Officer and Director. Scientist Home Holding acts as an investment holding vehicle. The total consideration paid pursuant to this acquisition was $1.00. This transaction is classified as a related party transaction.
Scientist Home Holding has one wholly owned subsidiary, “Scientist Home HK,” which was incorporated in Hong Kong on July 8, 2024, is selling health supplements and topical creams through retail, and provision of physical check-up services. A diagram of our corporate structure is below.
For the year ended December 31, 2025, the Company issued an aggregated of 236,000 shares of its common stock at $1.5 per share for aggregate gross proceeds of $354,000.
The Company has elected December 31 as its fiscal year end.
Business Information
Current Business Operations
Scientist Home Future Health Limited is a Nevada corporation and is not a Chinese operating company.
Scientist Home Future Health Limited operates through its wholly owned subsidiary in Hong Kong, Scientist Home HK, which specializing in the retail trading of health supplements and topical creams, and provision of physical check-up services. Our mission is to develop sustainable rehabilitation solutions, particularly for degenerative diseases, ensuring that our products not only address current symptoms but also support future, long-term health and recovery.
Our operations are primarily focused in Asia, where we have established a presence in Hong Kong. We serve a diverse and growing customer base that values our unique approach to health and wellness. This includes health-conscious individuals seeking natural solutions to maintain their overall wellness, individuals seeking for preventative health care and relief from chronic conditions, elderly populations managing age-related conditions such as arthritis, joint stiffness, and cardiovascular concerns, as well as professionals and athletes experiencing muscle strain, soreness, or minor injuries.
We believe that Scientist Home Future Health Limited is more than just a company - it’s a movement towards better health, driven by innovation, tradition, and a deep respect for the healing power of nature. As we continue to expand our reach, our vision remains clear: to be a leading force in the health and wellness industry.
Below is a description of the products we offer for sale. It must be noted that there is no scientific evidence to support that the below products address health concerns, and all statements pertaining to each of our available products below are in the opinion/belief of the company. We initially offer six primary products, comprised of health supplements and topical creams developed to address specific health concerns:
Scientist Home Vein Cream
It is a body cream for external use only, formulated to alleviate discomfort associated with hemorrhoids and varicose veins. The formulation targets symptoms such as swelling, inflammation and itching. It contains various ingredients (Ethylenediaminetetraacetic acid, sodium salt, lipidated fatty acid, chlorogenic acid) to maintain the health of veins and support recovery, with chlorogenic acid specifically aiding in wound healing.1
2.
Scientist Home Calcification Cream
It is a body cream for external use only, which maintains bone, joint and muscle health. The natural ingredients, such as Olive Pomace Oil and Peppermint Oil, are included for their anti-inflammatory and soothing properties. 2,3 Phytic Acid and Vitamin E provide antioxidant support to help reduce stiffness and alleviate discomfort by supporting cellular health and promoting proper joint function. Vitamin E has been studied for its role in preventing and treating arthritis.4 This cream also helps to improve circulation, potentially aiding in recovery from minor sprains, muscle strain, and soreness after exercise.
Scientist Home Spermaceti Cream
This relieving topical cream is only for external use, to target joint and muscle discomfort, maintain joint mobility function from ageing and relieve body inflammation. Main ingredients are fatty acid, olive pomace oil, peppermint oil, olive pomace oil, cetanol, sorbic acid, carbomer, vitamin E, lecithin, potassium hydroxide. Ingredients like Olive Pomace Oil and Peppermint Oil contribute to reduce inflammation and promote a soothing effect on the affected areas, thereby supporting optimal joint health and pain relief. 2,3
4.
Scientist Home Bone Gelatine Hydrolysate
A nutritional supplement for intake, formulated with highest quality bovine gelatine hydrolysate, vitamins (Vitamins A, D3, E, B1, B3, Folic Acid, Biotin, B6, D-Calcium Pantothenate, B12, C), and minerals (calcium, magnesium, zinc). This product helps to maintain and enhance bone and joint health. Gelatine hydrolysate which is rich in collagen peptides have been shown to support healthy bone density, enhance joint flexibility, alleviating joint pain, mitigating joint degeneration, and stimulating the activation of cartilage cells, thereby promoting overall joint and connective tissue health.5,6,7 This product is a nutritional supplement and cannot replace medication.
Scientist Home Mixed Gelatine Hydrolysate
This supplement is for intake and promotes bone and joint health by enhancing bone strength and density. Its major ingredients include mixed gelatine hydrolysate, mineral complex (Magnesium, Calcium, Zinc), vitamin complex (A, D3, E, C, niacin, pantothenic acid, thiamine, pyridoxine, folic acid, D-Biotin, B12), cetylated fatty acids, rosehips, taurine, luo han fruit. Mixed gelatine is extracted from chicken cartilage, fish scale and eggshell membrane, which provide a rich source of collagen peptides essential for maintaining joint lubrication and flexibility. Cetylated Fatty Acids and rosehip extract help reduce swelling, inflammation and promote joint comfort, while the vitamins and minerals supports bone strength, tissue repair and overall joint health.8.9
6.
Scientist Home High Concentration Proteinase
This supplement acts as an intake nutritional supplement and might help digesting unnecessary or harmful substances, and removing them from the body systems. Its major ingredients are ananases extract, plant protease concentrate, bromelains, proteinase, tamase, recepin, catarase, summetrin, nematolyt extract, vegetable pepsin. These ingredients help human body to maintain normal metabolism and enhance both physical and mental health and helps the body build resistance to diseases. Enriched with proteolytic enzymes, it not only enhances digestion but also helps to reduce inflammation and support immune regulation.10,11
References:
1.
https://pubmed.ncbi.nlm.nih.gov/28885580
2.
https://pmc.ncbi.nlm.nih.gov/articles/PMC4057827
3.
https://www.health.com/mint-benefits-8661009
4.
https://pmc.ncbi.nlm.nih.gov/articles/PMC6113565
5.
https://www.arthritis.org/health-wellness/treatment/complementary-therapies/supplements-and-vitamins/can-collagen-supplements-help-arthritis
6.
https://pmc.ncbi.nlm.nih.gov/articles/PMC10058045
7.
https://www.gelita.com/en/products/collagen-peptides/fortigel
8.
https://www.webmd.com/vitamins/ai/ingredientmono-400/cetylated-fatty-acids-cfas
9.
https://versusarthritis.org/about-arthritis/complementary-and-alternative-treatments/types-of-complementary-treatments/rosehip
10.
https://www.researchgate.net/publication/317579846_Proteolytic_Enzymes_Delivery_Systems_A_Review
11.
https://draxe.com/nutrition/proteolytic-enzymes
Business Model and Operations
We source our products from a related party, specifically Scientist Home Limited in which our Chief Executive Officer Mr. Chan Siu Hung is the sole shareholder and director, and we operate as the non-exclusive distributor for our proprietary products. Scientist Home Limited is the sole supplier of our proprietary products and we have been appointed as a non-exclusive distributor since July 16, 2024 through entering into a mutual agreement. The agreement lasts for two year, and with an automated renewal clause for one year, i.e. July 16, 2027.
Pursuant to the non-exclusive distributor agreement, the Company shall use its best efforts and shall devote such time as may be commercially reasonably necessary, to conduct an aggressive marketing and selling program and to promote the sale of Products. The Company shall not, during the term of the agreement, directly or indirectly market, sell, distribute, solicit orders within the Territory for any products which are competitive with Products unless supplier consents thereto in writing in advance, based upon Company’s full disclosure of the material facts in seeking such consent. The Company is allowed to use the trademarks and trade names of supplier under certain conditions. The minimum purchases commitment per product is 50 items per order.
The agreement may be terminated by either party for any reason or no reason, whether or not extended beyond the initial term, by giving the other party written notice ninety (90) days in advance. If either party defaults in the performance of any material provision of this agreement, then the non-defaulting party may give written notice to the defaulting party that if the default is not cured within thirty (30) days the Agreement will be terminated. If the non-defaulting party gives such notice and the default is not cured during the thirty (30) day period, then the agreement shall automatically terminate at the end of that period. Notwithstanding the foregoing, if the breaches of confidential information section of the agreement, then the supplier shall be entitled to terminate this Agreement effective immediately upon delivery of written notice to our Company.
Our primary revenue stream comes from retail sales and provision of physical check-up services, which are primarily conducted through word-of-mouth referrals and direct transactions at our office location. Payments are accepted via cash and bank deposits, offering flexibility and convenience to our customers. Currently we do not have any online platform for customer to place orders. In the future, we intend to facilitate sales through a secure online platform with payment gateway, in addition to direct transactions at our office location.
Our sales strategy is multifaceted, including live streaming sessions conducted by our Chief Executive Officer that enhance customer engagement by providing health education, product updates, and demonstrations. These sessions incorporate real case studies, discussing diagnoses and showcasing the transformative results achieved with our products. It should be noted, however, that these studies and diagnoses were not conducted or reviewed by licensed medical professionals. Those real case studies are product review by customers to express their own ideas on our products. Customers often build trust and confidence through these sessions, leading to subsequent purchases and further sales growth through word-of-mouth referrals.
Scientist Home Future Health Limited operates through its wholly owned subsidiary in Hong Kong, Scientist Home HK, which serves a diverse and growing customer base in Hong Kong, including individuals seeking preventive health care and relief from chronic conditions, elderly populations managing age-related conditions such as arthritis, joint stiffness, and cardiovascular concerns, as well as professionals and athletes experiencing muscle strain, soreness, or minor injuries.
Our operations are supported by cross-border e-commerce logistics, enabling the timely delivery of products to both local and international customers. Our cost structure covers the procurement of trading goods, daily operational expenses, and advertising efforts, all strategically managed to support our business growth and market presence.
Competition
Our company operates in a highly competitive health and wellness industry, where product efficacy and customer satisfaction are critical. The primary focus of our competition includes products offering similar health benefits. While many competitors may offer lower-priced alternatives, we believe that our products are created with superior quality ingredients and have greater product effectiveness than our competition.
In the health and wellness sector, we face intense competition from various providers of traditional medicine products, including retail health supplement suppliers, pharmacies, and major companies such as GlaxoSmithKline (with Voltaren), Favorex (with Voltex Kool), and DKSH Hong Kong (with Anusol). These competitors often benefit from significant brand recognition, established customer bases, and extensive financial resources, making the market highly competitive.
We believe that the principal competitive factors in our market include the quality and efficacy of health products, the strength of customer relationships, and the ability to anticipate and meet the evolving needs of our clients. We believe that our competitive strengths, including a diverse range of premium products, convenient one-stop solutions, and exceptional customer service, provide us with a distinct advantage. By leveraging these strengths, we are confident in our ability to not only secure a larger market share but also expand our presence into new geographic markets.
We plan to establish physical health centres in Hong Kong and Singapore, expanding our reach and providing an enhanced customer experience. To establish the physical health centre in Hong Kong, the Company has entered a new lease for a lease term of 36 months or less, commence from September 16, 2025. The monthly rental cost for this office space is approximately US$5,773 (HK$45,000). The lease will end on September 15, 2028. The lease has a renewal option for the period from September 16, 2028 to September 15, 2031.
The Hong Kong centre was opened in November 2025, with the Singapore location expected within the subsequent six months when the Company has sufficient funds. These centres will serve as hubs for a comprehensive range of services:
Offline Services: Customers will have the opportunity to purchase products directly and experience free trials at our physical locations.
Online Services: Our online platform will connect to nutrition specialist for consultations, providing continuous support and accessible services for our customers anytime, anywhere.
We have employed nutrition specialists to explain the features of our products and provide consultation services to our customers.
In addition, to expand our business, we have put efforts on market research and marketing. We are broadening our product line and have added over 30 health supplement products, sourced from the existing supplier.
Employees
Currently our team has 7 employees. As our business grows and expands, we intend to increase our workforce by hiring additional full-time management and administrative support personnel to meet increasing operational demands. At this time, Mr. Chan spends approximately 20 hours per week on Scientist Home Future Health Limited.
Government Regulations
We are required to comply the following United States regulations in order to perform sale business of our proprietary products in the United States:
1.
CFR - Code of Federal Regulations Title 21, 700.13 (d)(2): The FDA considers any cosmetic containing mercury to be adulterated under section 601(a) of the Act unless it meets one of the following conditions:
(i)
The cosmetic contains no more than a trace amount of mercury and such trace amount is unavoidable under conditions of good manufacturing practice and is less than 1 part per million (0.0001 percent), calculated as the metal; or
(ii)
The cosmetic is intended for use only in the eye area, contains no more than 65 parts per million (0.0065 percent) of mercury, calculated as the metal, as a preservative, and there is no effective and safe nonmercurial substitute preservative available for use in such cosmetic.
Under 21 CFR 700.13, the use of mercury compounds in cosmetics, including skin-bleaching products, is restricted due to their documented toxicity and potential for adverse health effects, such as skin irritation and mercury accumulation in the body. Mercury is generally prohibited in cosmetics, except in eye-area products where it effectively prevents harmful contamination that could lead to serious eye injuries.
All of our topical creams do not contain mercury compounds.
2.
Federal Food, Drug, and Cosmetic Act (FD&C Act): Amended in 1994 by Dietary Supplement Health and Education Act (DSHEA), the FD&C Act defines “dietary supplement” and set out FDA’s authority regarding such products. Under existing law:
·
The FDA does not have the authority to approve dietary supplements for safety, effectiveness, or labeling before the supplement are sold to the public.
·
Dietary supplement companies are responsible for ensuring their products meet safety standards for dietary supplements and are not otherwise in violation of the law.
·
Dietary supplement labels are required to have nutrition information in the form of a Supplement Facts label that includes the serving size, the number of servings per container, a listing of all dietary ingredients in the product, the amount per serving of those ingredients, and a statement on the front of the product identifying it as a “dietary supplement” or similar descriptive term (e.g., “herbal supplement” or “calcium supplement”).
We are required to comply the following Hong Kong regulations in order to perform sale business of our proprietary products:
1.
Hong Kong Food Adulteration (Metallic Contamination) Regulations Maximum permitted concentration of certain metals, required by Hong Kong Government Department, to ensure that concentrations of certain metals (Antimony, Arsenic, Cadmium, Chromium, Lead, Mercury and Tin) are within the maximum permitted limits;
2.
Microbiological Guidelines for Food, required by Hong Kong Government, to ensure the level of Escherichia coli and Staphylococcus aureus limit within the satisfactory level (<20 Colony Forming Unit per gram);
3.
the Food and Drugs (Composition and Labelling) (Amendment: Requirements for Nutrition Labelling and Nutrition Claim) Regulation 2008 nutrition label, required by Hong Kong Government Department, to state the nutrition information by classifying Energy, Protein, Total Fat (Saturated Fat and Trans Fat), Total Carbohydrates (Dietary fibre and Sugars) and Sodium per intake serving. There are nutrition labels of our products in Business information on Page 4.
Although the company is not directly subject to specific government regulations related to its business activities, it must adhere to certain regulations in Hong Kong, where its primary operations are conducted. In particular, the company is required to comply with Hong Kong's Personal Data (Privacy) Ordinance, ensuring privacy laws are followed and obtaining explicit consent for the collection and processing of personal data. Failure to comply could result in penalties from regulatory authorities.
Hong Kong's data security law primarily revolves around the Personal Data (Privacy) Ordinance (PDPO), which governs the collection, use, and handling of personal data in the region, serves as the foundational legislation for data protection in Hong Kong. It outlines principles and requirements for the lawful collection, processing, and use of personal data. These principles include obtaining consent, ensuring data accuracy, limiting data use to the purpose for which it was collected, and implementing security measures to protect personal data from unauthorized access, disclosure, alteration, or destruction. The PDPO sets out six data protection principles that organizations must adhere to when handling personal data. These principles include the purpose and manner of collection, accuracy and duration of retention, use of data, security measures, openness about policies and practices, and individuals' rights to access and correct their personal data. Organizations are required to implement appropriate technical and organizational measures to safeguard personal data against unauthorized or unlawful access, processing, or disclosure. These measures may include encryption, access controls, regular security assessments, staff training, and data breach response plans. The PDPO restricts the transfer of personal data outside of Hong Kong unless certain conditions are met, such as obtaining consent from the data subject or ensuring that the receiving jurisdiction offers an adequate level of data protection. The Office of the Privacy Commissioner for Personal Data (PCPD) oversees compliance with the PDPO and investigates complaints related to personal data privacy breaches. Non-compliance with the PDPO can result in penalties, fines, and even imprisonment for serious violations.
Furthermore, attention must be given to intellectual property rights, including proactive steps to prevent trademark infringements. Adhering to copyright laws, particularly in digital marketing, is also crucial. To safeguard the company’s brand and creative assets, conducting thorough trademark searches, registering trademarks in a timely manner, and monitoring for unauthorized use are essential measures.
In developing digital marketing materials, strict compliance with copyright laws is imperative. Obtaining the necessary permissions for third-party content and ensuring adequate protection for the company's own content are key considerations.
As a company operating primarily in Hong Kong, we bear several critical obligations in regards to ensuring compliance with intellectual property (IP) laws, cybersecurity regulations, and privacy legislation, including:
·
Copyright law necessitates a vigilant approach to respecting and safeguarding creative works, requiring the company to obtain proper permissions for use and adhere to copyright durations.
·
Patent law, the obligation lies in securing patents for inventions and respecting the rights of patent holders.
·
Trademark law, the company must actively register and protect its distinctive brands, conduct thorough searches, and diligently enforce trademark rights.
·
International treaties, such as the Paris Convention and Berne Convention, necessitate alignment with global IP standards.
·
Engaging with the Intellectual Property Office becomes imperative, involving seeking guidance, filing applications, and staying informed about IP policies and procedures. In the domain of cybersecurity, the company is obligated to safeguard personal and corporate data, implementing robust security measures and adhering to data breach notification requirements.
·
Customs Recordation places a duty on the company to register trademarks and copyrights with Customs, actively preventing the influx or outflow of counterfeit goods.
·
Privacy laws mandate the protection of individuals' personal information, demanding compliance with consent-based data processing, data security standards, and respect for privacy rights.
Non-compliance not only risks legal consequences but could cause a material change in our operations and/or the value of the securities we are registering for sale or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and cause the value of such securities to significantly decline or be worthless.
Scientist Home Future Health Limited is a Nevada corporation and is not a Chinese operating company. The Company operates through its wholly owned subsidiary in Hong Kong, Scientist Home HK, and currently sells its products in Hong Kong. In the future, it plans to expand into neighboring markets across Asia. The Company is subject to following Hong Kong laws and regulations:
·
General contract laws govern commercial transactions, emphasizing the importance of well-drafted contracts to avoid disputes and legal consequences.
·
The Personal Data (Privacy) Ordinance (PDPO), is a fundamental regulation governing the collection, use, and handling of personal data. Non-compliance with PDPO can lead to fines and legal actions, with potential repercussions on the company's reputation and customer trust.
·
Cybersecurity and data security regulations, guided by local guidelines and international standards, aim to safeguard against breaches that may result in data loss, financial losses, and regulatory penalties.
·
Intellectual property protection, governed by trademark, copyright, and patent laws, is essential to prevent infringement issues and legal disputes that could compromise the company's business exclusivity.
·
Consumer protection laws, such as the Trade Descriptions Ordinance, are crucial for safeguarding consumer rights, and violations can result in legal actions and damage to the company's reputation.
·
The Competition Ordinance prohibits anti-competitive conduct, and adherence is critical to avoid fines, legal actions, and damage to market reputation.
·
Tax laws, outlined in the Inland Revenue Ordinance, govern corporate taxation, and non-compliance may lead to penalties, audits, and legal consequences.
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Employment laws, including the Employment Ordinance, establish regulations for employment relationships, and failure to comply may result in legal actions, fines, and damage to employer reputation.
Each of the above regulations play a crucial role in shaping the legal framework for retailing operations in Hong Kong, and adherence is paramount to ensuring sustainable and compliant business practices in the region. The enforceability of civil liabilities in Hong Kong is a cornerstone of the region's legal system, rooted in the principles of the common law. Hong Kong's legal framework provides a robust and transparent environment for addressing civil disputes, ensuring that contractual agreements and legal obligations are upheld. The common law system, inherited from the British legal tradition, operates on established legal precedents and principles, contributing to clarity and consistency in legal interpretations. Parties involved in civil disputes in Hong Kong have access to an independent and impartial judiciary, and the court system is structured to handle a diverse range of civil cases. Once a judgment is obtained from a Hong Kong court, various enforcement measures, such as asset seizure and wage garnishment, can be employed. Hong Kong also has reciprocal enforcement agreements with numerous jurisdictions, facilitating the recognition and enforcement of foreign judgments. Arbitration, as an alternative dispute resolution method, is widely utilized, and arbitral awards enjoy enforceability similar to court judgments. While the legal framework in Hong Kong is well-established, businesses should be mindful of associated costs and timelines in legal proceedings. Clear contractual terms, legal advice, and consideration of alternative dispute resolution mechanisms contribute to effective dispute resolution.