Core Points - JBDI Holdings Limited announced that all proposed resolutions for shareholder approval were adopted at the Annual General Meeting held on June 9, 2025 [1] - The appointment of five directors was ratified at the AGM, along with the approval of YCM CPA Inc. as the independent registered public accounting firm for the fiscal year ending May 31, 2025 [2] Company Overview - JBDI Holdings Limited is a leading provider of environmentally friendly and efficient products and services, focusing on the revitalization, reconditioning, and recycling of drums and related containers in Singapore and Southeast Asia [3] - The company has nearly four decades of industry experience and is known for its quality and reliability, offering a wide range of reconditioned steel and plastic drums, new containers, and ancillary services [3] - JBDI's mission is to help customers achieve a zero environmental impact footprint while optimizing resource allocation and reducing costs [3]

Core Viewpoint - JBDI Holdings Limited has regained compliance with Nasdaq's periodic filing requirements, allowing the company to focus on delivering long-term value to shareholders [1][2]. Company Overview - JBDI Holdings Limited is a leading provider of environmentally friendly and efficient products and services, specializing in the revitalization, reconditioning, and recycling of drums and related containers in Singapore and Southeast Asia [3]. - The company has nearly four decades of industry experience and is known for its quality and reliability, offering a wide range of reconditioned steel and plastic drums, new containers, and ancillary services [3]. - JBDI's mission is to help customers achieve a zero environmental impact footprint while optimizing resource allocation and reducing costs [3]. Recent Developments - On June 5, 2025, JBDI filed its unaudited condensed consolidated financial statements for the six-month periods ended November 30, 2024, and 2023 with the Securities and Exchange Commission [2]. - The CEO, Mr. Lim Chwee Poh, expressed satisfaction in regaining full compliance with Nasdaq's listing requirements, emphasizing the company's focus on shareholder value [2].

Core Points - JBDI Holdings Limited has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1) as of June 3, 2025, after previously failing to maintain a minimum bid price of $1.00 for 30 consecutive business days [1][2] - The company received a deficiency notice from Nasdaq on June 3, 2025, for not filing its interim balance sheet and income statement for the second quarter, thus violating Listing Rule 5250(c)(2) [4] - JBDI Holdings filed its unaudited condensed consolidated financial statements for the six-month periods ended November 30, 2024, and 2023 on June 5, 2025, and intends to notify Nasdaq of this filing to regain compliance with the listing rule [5] Company Overview - JBDI Holdings Limited specializes in environmentally friendly and efficient products and services, focusing on the revitalization, reconditioning, and recycling of drums and related containers in Singapore and Southeast Asia [7] - The company has nearly four decades of industry experience and is recognized for quality and reliability, offering a range of reconditioned steel and plastic drums, new containers, and ancillary services [7] - JBDI's mission is to help customers achieve a zero environmental impact footprint while optimizing resource allocation and reducing costs [7]

Company Overview - JBDI Holdings Limited is a leading provider of environmentally friendly and efficient products and services, specializing in the revitalization, reconditioning, and recycling of drums and related containers in Singapore and Southeast Asia [3] - The company has nearly four decades of industry experience and has established a strong reputation for quality and reliability, offering a wide range of reconditioned steel and plastic drums, new containers, and ancillary services [3] - JBDI's mission is to help customers achieve a zero environmental impact footprint while optimizing resource allocation and reducing costs [3] Share Repurchase Program - The board of directors of JBDI has approved a share repurchase program, allowing the company to repurchase up to US$1.0 million worth of its ordinary shares [1] - Proposed repurchases may occur on the open market at prevailing market prices, in privately negotiated transactions, in block trades, and through other legally permissible means, depending on market conditions [2] - The board will periodically review the share repurchase program and may authorize adjustments to its terms and size [2]

Core Points - JBDI Holdings Limited received a delinquency notification from Nasdaq for not meeting the $1.00 minimum bid price requirement for its ordinary shares [1][2] - The company has until June 10, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for ten consecutive business days [1][2] - The notification does not immediately affect the trading of JBDI's ordinary shares, which continue to trade under the symbol "JBDI" [2] Company Overview - JBDI Holdings Limited specializes in environmentally friendly products and services, focusing on the revitalization, reconditioning, and recycling of drums and related containers in Singapore and Southeast Asia [3] - The company has nearly four decades of industry experience and is known for its quality and reliability in providing reconditioned steel and plastic drums, new containers, and ancillary services [3] - JBDI's mission is to help customers achieve a zero environmental impact footprint while optimizing resource allocation and reducing costs [3]

Financial Performance and Revenue Sources - Over 80% of the company's revenue was derived from customers in Singapore during the financial years ended May 31, 2024 and 2023, indicating a strong reliance on the local market[11]. - More than 70% of the company's revenue during the financial years ended May 31, 2024 and 2023 came from the sale of reconditioned and new containers, making it sensitive to fluctuations in steel prices[13]. - Revenue from the sale of reconditioned and new containers accounted for approximately 30% and 31.6% of total revenue for the financial years ended May 31, 2024, and 2023, respectively[19]. - Sales to the largest customer amounted to approximately $1.3 million and $1.8 million for the financial years ended May 31, 2024, and 2023, respectively, representing about 14.2% and 16.4% of total revenue[19]. - Average accounts receivable turnover days were approximately 66 days and 78 days for the financial years ended May 31, 2024, and 2023, respectively[21]. Operational Risks and Challenges - The company had inventories of approximately $0.3 million as of May 31, 2024 and 2023, highlighting potential risks related to inventory obsolescence[12]. - The company is dependent on maintaining a wide range of containers to meet evolving customer demands, which may impact its ability to adapt to market changes[11]. - The company relies on skilled labor for its operations, and any shortage may lead to increased costs and affect financial performance[14]. - The company’s operations are susceptible to fluctuations in the prices and availability of necessary machinery and vehicles, which could negatively impact profitability[16]. - The company is exposed to potential supply chain interruptions that could adversely affect revenue and profitability[23]. - The company may face increased operational costs due to compliance with environmental, health, and safety regulations[29]. - The company is subject to credit risks from customers who may delay or default on payments, impacting financial performance[21]. - There is no long-term commitment from customers, which may lead to significant decreases in sales if relationships are disrupted[20]. - The company relies on third-party logistics providers for timely delivery, and any disruptions could impact operations[24]. - The company is exposed to foreign currency exchange rate fluctuations, which may affect financial results[28]. - The company faces risks related to inadequate insurance coverage for business interruptions, which could adversely affect financial results[30]. - The company is exposed to risks from acts of war, terrorist attacks, and other uncontrollable events that may disrupt operations[36]. Corporate Governance and Compliance - The company is classified as an emerging growth company, allowing it to take advantage of reduced reporting requirements and delay compliance with certain accounting standards[47]. - The company may lose its foreign private issuer status if more than 50% of its voting securities are owned by U.S. residents, which would result in increased legal and compliance costs[48]. - Listing on Nasdaq has led to significantly increased costs and management time devoted to compliance with public company requirements[49]. - The company is exempt from certain Nasdaq corporate governance requirements, which may afford less protection to shareholders compared to U.S. domestic issuers[44]. - The company has opted to follow home country practices in corporate governance, which may differ significantly from U.S. standards[44]. - The company may face difficulties in enforcing judgments obtained in U.S. courts due to its Cayman Islands incorporation and the location of its directors and officers[45]. - The company is at risk of delisting under the HFCA Act if the PCAOB cannot inspect its auditors located in Singapore[51]. - The last PCAOB inspection of the company's auditor, Onestop Assurance PAC, occurred on July 13, 2023, indicating compliance with PCAOB standards[51]. - The SEC has proposed reducing the consecutive non-inspection years from three to two, which could impact the company's listing status[51]. Future Outlook and Strategic Plans - The company intends to expand its range of products and services and consider mergers and acquisitions, but there is no assurance of success[37]. - The company may require additional financing in the future to fund operations and growth, which could lead to restrictions under debt financing arrangements[31]. - The company does not expect to pay dividends in the foreseeable future, relying instead on price appreciation for returns on investment[43]. - Controlling shareholders own approximately 79.7% of the total issued and outstanding Ordinary Shares, which gives them significant influence over corporate transactions[44]. - Negative publicity could harm the company's reputation and customer satisfaction, impacting business prospects[32]. - The company may face challenges in maintaining and protecting its intellectual property, which could affect its competitive position[33]. Initial Public Offering - The company completed its initial public offering of 1,750,000 Ordinary Shares at a public offering price of US$5.00 per share, resulting in total net proceeds of approximately $6.7 million[8]. - As of the date of the Annual Report, the company has 19,787,500 Ordinary Shares issued and outstanding[41]. - The trading price of the company's Ordinary Shares may be volatile due to various factors, including market conditions and operational performance[40]. Financial Management - The company is exposed to interest rate risk due to short-term bank loans, which typically have fixed rates for twelve months[224]. - Credit risk is managed through in-house research and analysis, focusing on the probability of default by customers[225]. - Liquidity risk is monitored to ensure sufficient capital resources are available to meet business commitments[226]. - The company's reporting currency is the United States Dollar, with nearly all revenues and expenses consolidated in this currency[227].