v3.25.2
Segment Reporting
 12 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Reporting

Note 18 – Segment Reporting

 

ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for detailing the Company’s business segments.

 

The Company uses the management approach to determine reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance. The Company’s CODM has been identified as the Company’s chief executive officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Company. The Company has only one geographic operating location in Malaysia, so the Company determines that reporting operating segments by geographic locations is not necessary.

The Company’s organizational structure is based on a number of factors that the CODM uses to evaluate, view and run its business operations which include, but not limited to, customer base, homogeneity of service and technology. The Company’s operating segments are based on such organizational structure and information reviewed by the CODM to evaluate the operating segment results. Based on management’s assessment, the Company determined that it has only one operating segment as defined by ASC 280.

 

The following table presents major accounts of statements of operations by segments for the years ended September 30, 2024 and 2023.

 

   For the Year Ended September 30, 
   2024   2023 
Advertising and marketing expenses  $385,624   $58,293 
Salaries and benefits expenses   595,077    86,494 
Provision for bonus   13,804,877    
—
 
Insurance expense   606,025    
—
 
Legal and consulting expenses   964,654    481,979 
Other operating expenses   1,081,757    598,735 
Total operating expenses   17,438,014    1,225,501 
Segment operating loss   (17,438,014)   (1,225,501)
Interest expense, net   (375,782)   (616,398)
Income tax expense   (1,511)   
—
 
Segment net loss  $(17,815,307)  $(1,841,899)