v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Sep. 30, 2024
CURRENT ASSETS    
Cash $ 51,314 $ 348,655
Accounts receivable, net 17,498
Inventories 66,015 73,922
Advance in purchase of machinery 127,436
Prepaid expenses 520 12,200
Deposits 29,246 29,888
Other receivables 110,384 113,108
Total Current Assets 402,413 577,773
NON-CURRENT ASSETS    
Property and equipment, net 1,456,413 1,593,400
Intangible assets, net 2,756 262
Operating right-of-use assets 29,439
Total Non-current Assets 1,488,608 1,593,662
Total Assets 1,891,021 2,171,435
CURRENT LIABILITIES    
Loans from third parties 607,253 600,626
Loans from prior shareholders 474,203 358,326
Payables to prior shareholders 3,010,125 2,159,866
Compensation payable to a prior shareholder 737,894
Other payables and accrued expenses 1,134,526 1,232,422
Deferred underwriting commission payable 1,541,025
Provision for bonus 10,350,000 13,800,000
Loans from a shareholder 502,633
Operating lease liabilities, current 29,439
Total Current Liabilities 16,108,179 20,430,159
NON-CURRENT LIABILITIES    
Payables to a prior shareholder 3,575,716
Compensation payable to a prior shareholder 1,250,459
Total Non-current Liabilities 4,826,175
Total Liabilities 20,934,354 20,430,159
COMMITMENTS AND CONTINGENCIES (See Note 19)
SHAREHOLDERS’ EQUITY (DEFICIT)    
Ordinary share, $0.006 par value; 8,333,333 shares authorized; 2,467,337 and 2,445,647 shares issued and outstanding as of June 30, 2025 and September 30, 2024 [1] 14,804 14,674
Additional paid-in capital 29,743,558 7,812,836
Accumulated deficit (48,567,032) (25,798,897)
Accumulated other comprehensive loss (234,663) (287,337)
Total Shareholders’ Deficit (19,043,333) (18,258,724)
Total Liabilities and Shareholders’ Deficit $ 1,891,021 $ 2,171,435
[1] Giving retroactive effect to reverse recapitalization effected on March 14, 2024 to reflect exchange ratio of approximately 55.1 as described in Note 4 and share combination at a ratio of one-for-sixty effected on August 25, 2025 as described in Note 1.