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Sharing Economy International Inc.: material weakness open at least 2,128 days

By Russell Tomoum, Ctrl Worx™. Built from its own SEC filings. How the Clock works.

Sharing Economy International Inc. reported ineffective internal control over financial reporting because of a material weakness in 23 filings since Apr 16, 2021. The latest was its 10-Q for the period ended Mar 31, 2026.

Checked against SEC EDGAR: Oct 29, 2026 · Entry #10126

Causes the company named

Segregation of duties · 22Financial close and reporting · 20Accounting expertise and resources · 18Not described · 1

Lack of segregation of duties, insufficient accounting expertise in US GAAP, and inadequate written accounting policies and procedures.

What the latest filing says

Our management is also required to assess and report on the effectiveness of our internal control over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act of 2002 (“Section 404”). Our management identified material weaknesses related to (i) Lack of segregation of duties within accounting functions, (ii) Lack of accounting expertise in US GAAP, and (iii) Insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines. Our internal controls over financial reporting were not effective at March 31, 2026. Due to the current size and nature of business, segregation of all conflicting duties may not always be possible and may not be economically feasible, and we continue to rely on third parties for a significant portion of the preparation of our financial statements. As a result, we have not been able to take steps to improve our internal controls over financial reporting. However, to the extent possible, we will implement procedures to assure that the initia [...]

From the controls section of the 10-Q filed May 12, 2026. Read the full filing on SEC EDGAR.

Company response: Sharing Economy International Inc. can send a statement or a link to its remediation update to russell@ctrlworx.com. We post it here, unedited and dated.

Filings

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Based on public SEC filings. Causes are grouped into standard categories by Ctrl Worx. The filings are the authority. Ctrl Worx is not affiliated with Sharing Economy International Inc. or the SEC. Not investment advice. Why you can rely on the Watch List.