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Ispire Technology Inc
19700 Magellan Drive
Phone: (310) 742-9975p:310 742-9975 LOS ANGELES, CA  90502  United States Ticker: ISPRISPR
On September 12, 2024, the Audit Committee of the Board of Directors of Ispire Technology Inc. determined, based on the recommendation of management, that the previously issued financial statements for the year ended June 30, 2023, and the periods ended September 30, 2023 and December 31, 2023 should no longer be relied upon because of the following errors: (i) The incorrect presentation of cash payments on operating leases under financing activities instead of operating activities, (ii) the omission of disclosing non-cash investing and financing activities related to the acquisition of “right of use” (ROU) assets in exchange for operating lease liabilities, and (iii) the incorrect classification of shipping and handling costs as selling expenses (operating expenses) instead of being classified as cost of revenue.
Business Summary
Ispire Technology Inc. is engaged in the research and development, design, commercialization, sales, marketing, and distribution of branded e-cigarettes and cannabis vaping products. The Company’s cannabis products are vaping hardware. The Company's cannabis products are marketed under the brand name Ispire. Its tobacco products are marketed under the Aspire brand name. The Company’s products are vapor devices, a category that includes closed-system vaping devices (non-cigarlike), vaping components, and open-system vaping devices. The Company’s products use the Company's bottom dual coil (BDC) technology which uses bottom dual coils to provide much higher temperature and expanded heating that achieves much greater flavor and vapor production. The Company’s Ispire cannabis vapor products use the Company’s patented Ducore (Dual Coil) technology for cannabis vaporizers. This technology enables users to create massive plumes of vaping without burning cannabis oil.

Scores and Ratings
FRISK®
Score		 Z''
Score		 PAYCE®
Score		 DBT
Index		 Moody's
Rating		 Fitch
Rating		 DBRS
Rating
YesYes-----

Financials, News and Filings
Latest
Statement		 Last
Audit
News		 SEC
Filings		 Bankruptcy
Filings		 Suit &
Judgment
Filings		 Tax
Lien
Filings
6/30/20246/30/2024YesYes---

Industries
SIC Code Description
2111 Cigarettes
5993 Tobacco stores and stands

Officers and Directors

Title
Name
Age		 Title
Date		 Start
Date
Chairman of the Board, Co-Chief Executive Officer TuanfangLiu 51 8/7/2023
President TirdadRouhani 41 5/20/2024 7/1/2022
Co-Chief Executive Officer, President of Aspire North America MichaelWang 61 8/3/2023
7 additional Officers and Directors records available in full report.

Business Names
Business Name
Aspire AME Electronic Cigarettes Trading LLC
Aspire North America LLC
Aspire Science and Technology Limited
4 additional Business Names available in full report.

General Information
Number of Employees: 98 (As of 9/24/2024)
Outstanding Shares: 56,641,041 (As of 8/9/2024)
Shareholders: 19
Stock Exchange: NASD
Federal Tax Id: 845106049
Fax Number: (302) 636-5454


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Thursday, October 24, 2024