Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 39

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 39
---
,694,600  
     267,734 

    Net loss from continuing operations per share of common share 

    Basic and diluted 
    $(0.84) 
    $(39.50) 
    $(0.25) 
    $(5.03)

    Net earnings (loss) from discontinued operations per share of common share 

    Basic and diluted 
    $(2.26) 
    $28.18  
    $(0.71) 
    $(7.48)

    Net loss per share of common share 

    Basic and diluted 
    $(3.10) 
    $(11.32) 
    $(0.96) 
    $(12.51)

    *
    Retrospectively restated for effect of the Reverse Stock Split on November 12, 2024.

    18

New Accounting Pronouncements

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting
(Topic 280): Improvements to Reportable Segment Disclosures. The ASU requires public entities to disclose significant segment expenses
that are regularly provided to the chief operating decision maker (CODM), and an amount and description of other segment items, in both
annual and interim periods. The Company’s fiscal year beginning July 1, 2024, is subject to the provisions of ASU 2023-07. As a
result, the Company is required to adopt the enhanced segment disclosure requirements beginning with the interim period ending March 31,
2025. While the Company has made significant progress in updating its internal reporting and system processes to comply with the new standard,
it was not practicable to complete implementation in time for inclusion in this quarterly report. The Company expects to complete the
implementation during the fourth fiscal quarter and will include all required segment disclosures under ASU 2023-07 in its annual report
on Form 10-K for the fiscal year ending June 30, 2025.

In December 2023, the FASB issued ASU No. 2023-09,
“Income Taxes (Topic 740): Improvements to Income Tax Disclosures”. This ASU requires additional quantitative and qualitative
income tax disclosures to enable financial statements users better assess how an entity’s operations and related tax risks and tax
planning and operational opportunities affect its tax rate and prospects for future cash flows. The ASU is effective for annual reporting
periods beginning after December 15