REGENCELL BIOSCIENCE HOLDINGS LIMITED

Red flags

• Operating expenses rose from $3.77 million to $11.72 million; G&A professional fees increased to $3.71 million from $0.58 million, while G&A share-based compensation rose to $3.22 million from $0.20 million.
• The DOJ has requested documents and communications concerning share trading and corporate operational, financial, and accounting matters; no loss provision has been recorded.
• The May 2026 offering issued 985,222 shares for $18.62 million net proceeds; shares outstanding increased to 495.88 million from 494.49 million year over year.