Vestand Inc SEC Filings

Vestand Inc. (VSTD) director and 10% owner James Chae reported open-market sales of Class A common stock. On 11/12/2025, he sold multiple blocks totaling 17,916 shares at prices between $0.5347 and $0.54 per share. On 11/14/2025, he sold additional blocks totaling 37,084 shares at prices between $0.5401 and $0.5606 per share. After these transactions, he directly beneficially owns 2,244,371 shares of Vestand Class A common stock.

Vestand (VSTD)109,427 shares of Class A common stock on 11/05/2025 and 11/06/2025, at prices between $0.5354 and $0.5821 per share.

Following these transactions, he beneficially owned 2,299,371 shares, held directly.

Vestand Inc. changed its independent auditor. Based on its Audit Committee’s recommendation, the Board dismissed BCRG Group and engaged M.N. Vijay Kumar, Chartered Accountant as the new independent registered public accounting firm.

BCRG’s reports for the years ended December 31, 2024 and 2023 contained no adverse opinions or disclaimers and were not qualified or modified. The company reports no disagreements with BCRG and no reportable events during the covered periods. Vestand has requested a confirmation letter from BCRG to be filed by amendment.

Vestand Inc. (VSTD) reported insider activity by a director on Form 4. The filing lists multiple open‑market sales of Class A common stock on 10/31/2025, 11/03/2025, and 11/04/2025 (transaction code S) at prices ranging from $0.5056 to $0.8931 per share. Following these transactions, the reporting person beneficially owned 2,408,798 shares, held directly.

Vestand Inc. (VSTD) announced non‑reliance on its previously issued financial statements after its Board, informed by an Independent Accountant’s Report from Oh & Chung LLP, identified inaccuracies across multiple periods. The company plans to file amended reports with restated results.

The Audit Committee flagged five areas for fact‑finding review, including loans with intercompany entities, IPO‑related bonus payments, fictitious or improperly recorded liabilities of approximately $700,000, a warrant issuance to Harang Co., and securities issued without Board authorization. Management concluded there are material weaknesses in internal control over financial reporting.

Vestand engaged Oh & Chung for procedures, will appoint a new independent audit firm, and has recently added a new CFO and a Chief Compliance Officer to strengthen accounting and governance. The company stated it cannot predict the timing of the restated filings and is assessing possible legal action and clawbacks under its policy.

Vestand Inc. (VSTD) reported insider transactions as director James Chae disclosed multiple sales of Class A common stock. Across 10/28/2025 to 10/30/2025, he sold a total of 35,000 shares at prices ranging from $1.06 to $0.85 under transaction code “S”. Following these transactions, he reported 2,494,506 shares beneficially owned in direct form.

The filing lists individual sales of 5,000 shares at $1.06, $1.04, and $1.03 on 10/28/2025; 5,000-share sales at $0.9239 and $0.9231 on 10/29/2025; and a 10,000-share sale at $0.85 on 10/30/2025.

Vestand Inc. (Nasdaq: VSTD) reported a leadership change. On September 15, 2025, Ju Hwan Oh (John Oh) resigned as Chief Financial Officer; the company stated the resignation was not due to any disagreement with the company, management, or the Board.

On October 21, 2025, the Board appointed Jaeho Yoon as Chief Financial Officer and Andrew Yun as Chief Compliance Officer. The company notes no family relationships between the appointees and other directors or officers, and no related‑party interests requiring disclosure under Item 404(a).

Vestand (VSTD)