Armlogi (BTOC) Registration Filing summary

Company overview and business model

• Provides warehousing and logistics services, focusing on cross-border e-commerce merchants selling into the U.S. market.

• Operates 10 warehouses nationwide with 3.2 million square feet, equipped for bulky items and automated sorting.

• Offers end-to-end solutions: customs brokerage, transportation, warehouse management, order fulfillment, and value-added services.

• Serves both overseas and U.S.-based e-commerce merchants, with a growing active customer base (156 as of September 2024).

• Incorporated in Nevada in 2022, with a wholly owned California subsidiary and several logistics/trucking entities.

Financial performance and metrics

• Revenue for the three months ended September 30, 2024: $42.5 million (vs. $41.2 million in 2023).

• Net loss of $4.6 million for the three months ended September 30, 2024 (vs. net income of $2.8 million in 2023).

• Fiscal year ended June 30, 2024: $167.0 million revenue, $7.4 million net income (vs. $135.0 million revenue, $13.9 million net income in 2023).

• Approximately 85–96% of revenue is generated from PRC-based customers.

Use of proceeds and capital allocation

• Net proceeds from sales under the SEPA will be used primarily for working capital.

• May allocate a portion to acquisitions or investments in complementary technologies, solutions, or businesses.

• Management retains broad discretion over use of proceeds.