Focus Universal Inc. Announces Board Approval for Spin-Off of Lusher Inc.

Focus Universal Inc. (NASDAQ:FCUV), a company specializing in IoT and 5G hardware and software technologies, has officially received approval from its board of directors for the spin-off of Lusher Inc. This spin-off aims to develop SEC Financial Reporting AI-Driven Automation Software for its planned IPO and potential Nasdaq listing.

CEO Desheng Wang expressed enthusiasm about the spin-off, highlighting that it would allow Focus Universal to divert more attention to its core IoT innovations while enhancing shareholder value by showcasing Lusher Inc.'s capabilities independently. In particular, the reduction of SEC financial reporting preparation from weeks to minutes is emphasized as a key benefit of Lusher Inc.'s technology.

Additionally, Focus Universal plans to offer Lusher Inc.'s stocks to its shareholders as a tax-free dividend, which would be tradable upon Lusher Inc.’s expected Nasdaq debut. Unlike conventional manual financial processes, Lusher Inc.’s automation software promises substantial efficiency improvements by automating the updating of financial statements for SEC reports.

This strategic move is facilitated by the growing market for financial reporting software, expected to expand from a $14 billion industry in 2022 to $36.5 billion by 2030. This growth reflects increasing data complexity and compliance costs, making advanced software solutions essential for modern financial reporting requirements.