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Cordyceps Sunshine Biotech Holdings Co., Ltd. filings document its foreign private issuer reporting under the Exchange Act, including Form 6-K current reports furnished in connection with its Form 20-F status. The disclosures cover changes in the company’s independent registered public accounting firm, board approval of the appointment, auditor correspondence, and related statements about audit opinions, disagreements, and reportable events.
Cordyceps Sunshine Biotech Holdings reports 2025 revenue of $1,245,348, entirely from Cattle camphor mushroom (Taiwanofungus) products, and a net loss from continuing operations of $154,822. Gross margin was 61.09%, but the company highlights substantial doubt about its ability to continue as a going concern.
Working capital was deeply negative, with current assets of $997,742 and current liabilities of $5,192,062, leading to a shareholders’ deficit of $534,551. One third-party customer contributed 43.81% of 2025 revenue and a related-party customer 14.08%, while a single supplier provided 100% of raw materials.
The business depends on patented cultivation technology licensed from a founder, has no product liability or business interruption insurance, and operates mainly through a Taiwan branch. Two insiders indirectly control about 59.3% of ordinary shares, limiting minority shareholder influence.
Cordyceps Sunshine Biotech Holdings Co., Ltd. reported a change in its independent auditor. On November 15, 2025, the Board of Directors approved and ratified the appointment of YCM CPA INC. as the company’s new independent registered public accounting firm to audit its financial statements, effective the same day.
The report notes that during the two most recent fiscal years ended December 31, 2024 and 2023, and any subsequent interim periods before this engagement, neither the company nor anyone on its behalf consulted YCM CPA INC. on accounting matters. The filing also includes as an exhibit a letter from the previous auditor, KCCW Accountancy Corp., addressed to the U.S. Securities and Exchange Commission.
Cordyceps Sunshine Biotech Holdings Co., Ltd. amended its Form 20-F to provide updated annual disclosures about operations focused on Cordyceps and Antrodia products, manufacturing processes and cultivation techniques. The company reported training revenue of $154,107 for the period shown and a net income of $751,609 for the year ended December 31, 2023, reversing losses of $720,093 in 2022 and $491,006 in 2021. Management disclosed an accumulated deficit of $472,966 and negative working capital of $2,638,968 as of December 31, 2023, and stated substantial doubt about the company’s ability to continue as a going concern. The company recognized a $582,324 net gain from the reclassification and disposal of its Hong Kong subsidiary and recorded discontinued operations. Share ownership is highly concentrated with a controlling group holding approximately 59.3% of ordinary shares. Significant risks disclosed include customer and supplier concentration, regulatory and geopolitical risks related to PRC/Taiwan operations, and dependence on a limited product set.
Cordyceps Sunshine Biotech Holdings Co., Ltd. amended its Form 20-F to provide updated annual disclosures about operations focused on Cordyceps and Antrodia products, manufacturing processes and cultivation techniques. The company reported training revenue of $154,107 for the period shown and a net income of $751,609 for the year ended December 31, 2023, reversing losses of $720,093 in 2022 and $491,006 in 2021. Management disclosed an accumulated deficit of $472,966 and negative working capital of $2,638,968 as of December 31, 2023, and stated substantial doubt about the company’s ability to continue as a going concern. The company recognized a $582,324 net gain from the reclassification and disposal of its Hong Kong subsidiary and recorded discontinued operations. Share ownership is highly concentrated with a controlling group holding approximately 59.3% of ordinary shares. Significant risks disclosed include customer and supplier concentration, regulatory and geopolitical risks related to PRC/Taiwan operations, and dependence on a limited product set.
Cordyceps Sunshine Biotech Holdings Co., Ltd. amended its Form 20-F to provide updated annual disclosures about operations focused on Cordyceps and Antrodia products, manufacturing processes and cultivation techniques. The company reported training revenue of $154,107 for the period shown and a net income of $751,609 for the year ended December 31, 2023, reversing losses of $720,093 in 2022 and $491,006 in 2021. Management disclosed an accumulated deficit of $472,966 and negative working capital of $2,638,968 as of December 31, 2023, and stated substantial doubt about the company’s ability to continue as a going concern. The company recognized a $582,324 net gain from the reclassification and disposal of its Hong Kong subsidiary and recorded discontinued operations. Share ownership is highly concentrated with a controlling group holding approximately 59.3% of ordinary shares. Significant risks disclosed include customer and supplier concentration, regulatory and geopolitical risks related to PRC/Taiwan operations, and dependence on a limited product set.
Cordyceps Sunshine Biotech Holdings Co., Ltd. amended its Form 20-F to provide updated annual disclosures about operations focused on Cordyceps and Antrodia products, manufacturing processes and cultivation techniques. The company reported training revenue of $154,107 for the period shown and a net income of $751,609 for the year ended December 31, 2023, reversing losses of $720,093 in 2022 and $491,006 in 2021. Management disclosed an accumulated deficit of $472,966 and negative working capital of $2,638,968 as of December 31, 2023, and stated substantial doubt about the company’s ability to continue as a going concern. The company recognized a $582,324 net gain from the reclassification and disposal of its Hong Kong subsidiary and recorded discontinued operations. Share ownership is highly concentrated with a controlling group holding approximately 59.3% of ordinary shares. Significant risks disclosed include customer and supplier concentration, regulatory and geopolitical risks related to PRC/Taiwan operations, and dependence on a limited product set.