NOTES TO THE CONSOLIDATED IN FINANCIAL STATEMENTS (Tables)
|
3 Months Ended |
Dec. 31, 2025 |
|---|
| Defined Benefit Plan Disclosure [Line Items] |
|
| SCHEDULE OF ACCOUNTS RECEIVABLES |
SCHEDULE OF ACCOUNTS RECEIVABLES
| | |
December 31,
2025 | | |
September 30,
2025 | |
| Accounts receivable | |
$ | 1,385,960 | | |
$ | 57,365 | |
| Less: allowance for credit losses | |
| - | | |
| (2,107 | ) |
| Accounts receivable, net | |
| 1,385,960 | | |
| 55,258 | |
|
| SCHEDULE OF MOVEMENTS IN ALLOWANCE FOR CREDIT LOSSES |
The
movements in the allowance for credit losses are as follows:
SCHEDULE
OF MOVEMENTS IN ALLOWANCE FOR CREDIT LOSSES
| | |
December 31,
2025 | | |
September 30,
2025 | |
| Balance at beginning of the year | |
$ | (2,107 | ) | |
$ | (3,450,141 | ) |
| Additions | |
| - | | |
| (2,098 | ) |
| Foreign currency translation | |
| 306 | | |
| (9 | ) |
| Write-offs | |
| 1,801 | | |
| 3,450,141 | |
| Balance at end of the year | |
| - | | |
| (2,107 | ) |
|
| SCHEDULE OF INVENTORY |
Inventories,
net consisted of the following:
SCHEDULE OF INVENTORY
| | |
December 31,
2025 | | |
September 30,
2025 | |
| Raw materials | |
$ | - | | |
$ | 12,799,608 | |
| Finished goods | |
| 157 | | |
| 154 | |
| Total inventories, gross | |
| 157 | | |
| 12,799,762 | |
| Less: inventory write-down | |
| - | | |
| (906,444 | ) |
| Inventories, net | |
| 157 | | |
| 11,893,318 | |
|
| SCHEDULE OF MOVEMENTS IN INVENTORIES |
The
movements in the inventories write-down were as follows:
SCHEDULE
OF MOVEMENTS IN INVENTORIES
| | |
December 31,
2025 | | |
September 30,
2025 | |
| Balance at beginning of the year | |
$ | (906,444 | ) | |
$ | (815,498 | ) |
| Additions | |
| | | |
| (902,776 | ) |
| Foreign currency translation | |
| 131,581 | | |
| (3,668 | ) |
| Write-offs | |
| 774,863 | | |
| 815,498 | |
| Balance at end of the year | |
| - | | |
| (906,444 | ) |
|
| SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS |
Prepaid
expenses and other current assets as of December 31, 2025 and September 30, 2025 were comprised of the following:
SCHEDULE
OF PREPAID EXPENSES AND OTHER CURRENT ASSETS
| | |
December 31,
2025 | | |
September 30,
2025 | |
| Prepaid expenses | |
$ | - | | |
$ | 291,445 | |
| Prepaid tax(1) | |
| 1,285,400 | | |
| 1,286,205 | |
| Advances
to suppliers(2) | (2) |
| 399,889 | | |
| 1,458,569 | |
| Deferred
equity issuance cost | |
| - | | |
| 1,797,500 | |
| Other current assets | |
| 82,611 | | |
| 114,303 | |
| Total | |
| 1,767,900 | | |
| 4,948,022 | |
| (1) |
|
Prepaid tax represents input value-added tax (“VAT”) paid in advance for which the related VAT invoices
had not yet been received as of the reporting date. Subsequent to period end, the Company received a portion of the outstanding invoices,
and management expects to obtain the remaining invoices within six months. Accordingly, management believes the prepaid tax balance is
fully recoverable. |
| |
|
|
| (2) |
|
As
of December 31, 2025, the total amount paid to suppliers was $399,889, of which $281,822 represented advances to Beijing Yingtian
Huyu Technology Co., Ltd. The Company is currently evaluating the SaaS live-streaming system of Beijing Yingtian Huyu Technology
Co., Ltd., and the implementation plan for any subsequent advances is expected to be determined in 2026. |
|
| SCHEDULE OF PROPERTY AND EQUIPMENT |
Property
and equipment consisted of the following as of December 31, 2025 and September 30, 2025:
SCHEDULE OF PROPERTY AND EQUIPMENT
| | |
December 31,
2025 | | |
September 30,
2025 | |
| Machinery & Equipment | |
$ | 31,362 | | |
$ | 30,910 | |
| Vehicles | |
| - | | |
| - | |
| Gross property and equipment | |
| 31,362 | | |
| 30,910 | |
| Less: accumulated depreciation | |
| (30,040 | ) | |
| (28,710 | ) |
| Less: reclassification to assets held for sale | |
| - | | |
| - | |
| Less: disposal of property and equipment | |
| - | | |
| - | |
| Net property and equipment | |
| 1,322 | | |
| 2,200 | |
|
| SCHEDULE OF OTHER INFORMATION RELATED TO OPERATING LEASE |
As
of December 31, 2025, the Company’s operating leases had a weighted-average remaining lease term of one year and a weighted-average
discount rate of 3%. Other information related to the Company’s operating leases is as follows:
SCHEDULE OF OTHER INFORMATION RELATED TO OPERATING LEASE
| Right-of-Use Assets | |
Amount | |
| ROU asset – September 30, 2025 | |
$ | 20,340 | |
| ROU assets added during the year | |
| 27,852 | |
| Amortization during the period | |
| (19,441 | ) |
| ROU asset – December 31, 2025 | |
$ | 28,751 | |
| Lease Liabilities | |
Amount | |
| Lease liability – September 30, 2025 | |
$ | 13,346 | |
| Lease liability added during the year | |
| 14,033 | |
| Reduction during the period | |
| (13,346 | ) |
| Lease liability – December 31, 2025 | |
$ | 14,033 | |
| Lease Liabilities by Maturity | |
Amount | |
| Lease Liability – Short-Term | |
$ | 14,033 | |
| Lease Liability – Long-Term | |
| - | |
| Lease Liability – Total | |
$ | 14,033 | |
|
| SCHEDULE OF CASH AND NON-CASH ACTIVITIES OF LEASES |
The
following table summarizes the Company’s operating lease cost, short-term lease cost, and related cash flow information for the
three months ended December 31, 2025:
SCHEDULE
OF CASH AND NON-CASH ACTIVITIES OF LEASES
| Operating lease expenses | |
$ | 19,441 | |
| Short-term lease expenses | |
| 3,502 | |
| Cash paid for amounts included in the measurement of lease liabilities | |
| 19,215 | |
| Lease amortization | |
| 19,441 | |
| Interest portion | |
| 537 | |
|
| SCHEDULE OF INTANGIBLE ASSETS |
The
following table summarizes the Company’s intangible assets as of December 31, 2025:
SCHEDULE
OF INTANGIBLE ASSETS
| | |
Gross Carrying Amount | | |
Accumulated Amortization | | |
Net Carrying Amount | |
| Trademarks | |
| 140,000 | | |
| (140,000 | ) | |
| - | |
| Software | |
| 33,499 | | |
| (32,103 | ) | |
| 1,396 | |
| Total | |
| 173,499 | | |
| (172,103 | ) | |
| 1,396 | |
The
following table summarizes the Company’s intangible assets as of September 30, 2025:
| | |
Gross Carrying Amount | | |
Accumulated Amortization | | |
Net Carrying Amount | |
| Trademarks | |
$ | 140,000 | | |
$ | (140,000 | ) | |
$ | - | |
| Software | |
| 33,016 | | |
| (30,815 | ) | |
| 2,201 | |
| Total | |
| 173,016 | | |
| (170,815 | ) | |
| 2,201 | |
|
| SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES |
The
following table is a summary of the Company’s Bitcoin activities during the year ended September 30, 2025:
SCHEDULE
OF BITCOIN ACTIVITY
| | |
Amount | |
| Beginning balance at September 30, 2025 | |
$ | 57,024,465 | |
| Increase in digital assets - Bitcoin | |
| 24,456,952 | |
| Decrease in digital assets - Bitcoin | |
| - | |
| Net change in fair value | |
| (17,502,596 | ) |
| Ending balance as of September 30, 2025 | |
$ | 63,978,821 | |
4.8
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
Accounts
payable and accrued expenses as of December 31, 2025 and September 30, 2025 were as follows:
SCHEDULE
OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES
| | |
December
31,
2025 | | |
September 30,
2025 | |
| Accounts payable | |
$ | 1,788,527 | | |
$ | 429,322 | |
| Accrued expenses | |
| 1,072,282 | | |
| 1,034,822 | |
| Total | |
| 2,860,809 | | |
| 1,464,144 | |
|
| SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES |
Accounts
payable and accrued expenses as of December 31, 2025 and September 30, 2025 were as follows:
SCHEDULE
OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES
| | |
December
31,
2025 | | |
September 30,
2025 | |
| Accounts payable | |
$ | 1,788,527 | | |
$ | 429,322 | |
| Accrued expenses | |
| 1,072,282 | | |
| 1,034,822 | |
| Total | |
| 2,860,809 | | |
| 1,464,144 | |
|
| SCHEDULE OF OTHER CURRENT LIABILITIES |
Other
current liabilities consisted of the following:
SCHEDULE
OF OTHER CURRENT LIABILITIES
| | |
December 31,
2025 | | |
September 30,
2025 | |
| Advances received for equity subscriptions(1) | |
$ | 160,066 | | |
$ | 18,134,657 | |
| Provision for liabilities related to directors’ litigation(2) | |
| 222,062 | | |
| 222,062 | |
| Professional service fees payable – Bitcoin transaction(3) | |
| 3,333,579 | | |
| 3,663,269 | |
| Others | |
| 630,439 | | |
| 230,602 | |
| Total | |
| 4,346,146 | | |
| 22,250,590 | |
| (1) |
|
Advances
received for equity subscriptions |
Advance
receipts for equity subscriptions are as follows: $129,662.80
for a share subscription by Mr. Sooncha Kim, $29,994.20
for a share subscription by Mr. Kenji Hashimoto, $100
for a share subscription by Mr. Jiang Shelei, and $308.69
for a share subscription by Beijing Fukesi Technology Co., Ltd.
| (2) |
|
Provision
for liabilities related to directors’ litigation |
The
provision for liabilities related to directors’ litigation of $222,062 represents management’s estimate of costs associated
with ongoing legal proceedings involving certain directors as of September 30, 2025.
| (3) |
|
Professional
service fees payable – Bitcoin transaction |
The
professional service fees payable of $3,333,579 relate to a financial advisory services agreement executed on July 1, 2025, between the Company and Sunflower Tech Limited, in connection with a Bitcoin-related asset transaction with a total transaction value of $55.0 million.
Under the agreement, the advisory fee is calculated at 10% of the transaction value, amounting to $5.5 million. As of December 31, 2025
and September 30, 2025, the remaining payable balances of the Company were $3,333,579 and $3,663,269 respectively.
|
| SCHEDULE OF TAX PAYABLE |
As
of December 31, 2025 and September 30, 2025, taxes payable amounted to $2,398,303 and $1,314,686, respectively.
SCHEDULE
OF TAX PAYABLE
| | |
December 31,
2025 | | |
September 30,
2025 | |
| Accrued sales taxes payable | |
$ | 2,394,591 | | |
$ | 1,311,578 | |
| Other tax payable | |
| 3,712 | | |
| 3,108 | |
| Total | |
| 2,398,303 | | |
| 1,314,686 | |
|
| SCHEDULE OF INCOME TAX EXPENSE BENEFIT |
SCHEDULE
OF INCOME TAX EXPENSE BENEFIT
| | |
Three months Ended
December 31, 2025 | |
| Current income tax expense | |
$ | - | |
| Deferred income tax expense | |
| - | |
| Total income tax expense | |
| - | |
| | |
| | |
| Reconciliation of Statutory Tax Benefit to Income Tax Expense | |
| | |
| Tax benefit at statutory U.S. federal rate (21%) | |
$ | (4,083,176 | ) |
| Effect of different tax rates applicable to subsidiaries | |
| 4,080 | |
| Effect of unrecognized deductible temporary differences | |
| (3,675,545 | ) |
| Effect of tax loss carryforwards | |
| 7,754,641 | |
| Income tax expense | |
$ | - | |
|
| Nonrelated Party [Member] |
|
| Defined Benefit Plan Disclosure [Line Items] |
|
| SCHEDULE OF CONVERTIBLE NOTES |
SCHEDULE
OF CONVERTIBLE NOTES
| | |
December
31,
2025 | | |
September 30,
2025 | |
| Beginning balance | |
$ | - | | |
$ | 1,063,624 | |
| Issuance of convertible notes | |
| - | | |
| 10,144,186 | |
| Fair value adjustment | |
| - | | |
| - | |
| Conversion to Common Stock | |
| - | | |
| (11,207,810 | ) |
| Ending balance | |
| - | | |
| - | |
|
| Related Party [Member] |
|
| Defined Benefit Plan Disclosure [Line Items] |
|
| SCHEDULE OF CONVERTIBLE NOTES |
SCHEDULE
OF CONVERTIBLE NOTES
| | |
December
31,
2025 | | |
September 30,
2025 | |
| Beginning balance | |
$ | 1,838,041 | | |
$ | 319,220 | |
| Issuance of convertible notes | |
| - | | |
| 3,693,041 | |
| Fair value adjustment | |
| - | | |
| - | |
| Conversion to Common Stock | |
| (1,838,041 | ) | |
| (2,174,220 | ) |
| Ending balance | |
| - | | |
| 1,838,041 | |
|