v3.26.1
NOTES TO THE CONSOLIDATED IN FINANCIAL STATEMENTS (Tables)
 6 Months Ended
Mar. 31, 2026
Defined Benefit Plan Disclosure [Line Items]  
SCHEDULE OF ACCOUNTS RECEIVABLES

 

   March 31,
2026		   September 30,
2025		 
Accounts receivable  $1,388,029   $57,365 
Less: allowance for credit losses   (82)   (2,107)
Accounts receivable, net   1,387,947    55,258 
SCHEDULE OF MOVEMENTS IN ALLOWANCE FOR CREDIT LOSSES

The movements in the allowance for credit losses are as follows:

   March 31,
2026		   September 30,
2025		 
Balance at beginning of the year  $(2,107)  $(3,450,141)
Additions   

(82

)   (2,098)
Foreign currency translation   

306

    (9)
Write-offs   1,801    3,450,141 
Balance at end of the year   (82)   (2,107)
SCHEDULE OF INVENTORY

Inventories, net consisted of the following:

   March 31,
2026		   September 30,
2025		 
Raw materials  $-   $12,799,608 
Finished goods   -    154 
Total inventories, gross   -    12,799,762 
Less: inventory write-down   -    (906,444)
Inventories, net   -    11,893,318 
SCHEDULE OF MOVEMENTS IN INVENTORIES

The movements in the inventories write-down were as follows:

   March 31,
2026		   September 30,
2025		 
Balance at beginning of the year  $(906,444)  $(815,498)
Additions   -    (902,776)
Foreign currency translation   

203,695

    (3,668)
Write-offs   702,749    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 March 31,2026 and September 30, 2025 were comprised of the following:

 

   March 31,
2026		   September 30,
2025		 
Prepaid expenses  $286,585   $291,445 
VAT input tax to be deducted   76,766    - 
Prepaid tax(1)   1,304,747    1,286,205 
Advances to suppliers(2)   49,184    1,458,569 
Deferred equity issuance cost   -    1,797,500 
Other current assets   18,639    114,303 
Total   1,735,921    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 March 31, 2026, the total amount paid to suppliers was $335,769, of which $286,064 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 March 31, 2026 and September 30, 2025:

   March 31,
2026		   September 30,
2025		 
Machinery & Equipment  $18,300   $30,910 
Vehicles   -    - 
Gross property and equipment   18,300    30,910 
Less: accumulated depreciation   (17,150)   (28,710)
Less: reclassification to assets held for sale   -    - 
Less: disposal of property and equipment   -    - 
Net property and equipment   1,150    2,200 
SCHEDULE OF OTHER INFORMATION RELATED TO OPERATING LEASE

As of March 31,2026, 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:

 

Right-of-Use Assets  Amount 
ROU asset – September 30, 2025  $20,340 
ROU assets added during the year   28,272 
Amortization during the period   (30,811)
ROU asset – March 31,2026  $17,801 

 

Lease Liabilities  Amount 
Lease liability – September 30, 2025  $13,346 
Lease liability added during the year   7,122 
Reduction during the period   (13,346)
Lease liability – March 31,2026  $7,122 

 

Lease Liabilities by Maturity  Amount 
Lease Liability – Short-Term  $7,122 
Lease Liability – Long-Term   - 
Lease Liability – Total  $7,122 
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 six months ended March 31,2026:

Operating lease expenses  $30,811 
Short-term lease expenses   7,976 
Cash paid for amounts included in the measurement of lease liabilities   26,525 
Lease amortization   30,811 
Interest portion   654 
SCHEDULE OF INTANGIBLE ASSETS

The following table summarizes the Company’s intangible assets as of March 31, 2026:

 

    Gross Carrying Amount     Accumulated Amortization     Net Carrying Amount  
Trademarks  $140,000    $(140,000)  $ -  
Software   34,003     (34,003)    -  
Total   174,003     (174,003)    -  

 

 

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 BITCOIN ACTIVITY

The following table is a summary of the Company’s Bitcoin activities as of March 31, 2026:

 

   Amount 
Beginning balance as of September 30, 2025  $57,024,465 
Increase in digital assets - Bitcoin   24,456,951 
Decrease in digital assets - Bitcoin   - 
Net change in fair value   (31,633,746)
Ending balance as of March 31,2026  $49,847,670 
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses as of March 31, 2026 and September 30, 2025 were as follows:

 

  

March 31,

2026

   September 30,
2025		 
Accounts payable  $1,770,730   $429,322 
Accrued expenses   1,141,143    1,034,822 
Total   2,911,873    1,464,144 
SCHEDULE OF OTHER CURRENT LIABILITIES

Other current liabilities consisted of the following:

  

March 31,

2026

   September 30,
2025		 
Advances received for equity subscriptions(1)  $159,657   $18,134,657 
Provision for liabilities related to directors’ litigation(2)   222,062    222,062 
Professional service fees payable – Bitcoin transaction(3)   2,089,798    3,663,269 
Others   636,819    230,602 
Total   3,108,336    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.

 

(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 March 31, 2026.

 

(3)Professional service fees payable – Bitcoin transaction

 

The professional service fees payable of $2,089,798 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 March 31, 2026 and September 30, 2025, the remaining payable balances of the Company were $2,089,798 and $3,663,269 respectively.
SCHEDULE OF TAX PAYABLE

As of March 31, 2026 and September 30, 2025, taxes payable amounted to $2,432,118 and $1,314,686, respectively.

  

March 31,

2026

   September 30,
2025		 
Accrued sales taxes payable  $2,430,633   $1,311,578 
Other tax payable   1,485    3,108 
Total   2,432,118    1,314,686 
SCHEDULE OF INCOME TAX EXPENSE BENEFIT

   Six months ended March 31, 2026 
Current income tax expense  $- 
Deferred income tax expense   - 
Total income tax expense   - 
      
Reconciliation of Statutory Tax Benefit to Income Tax Expense   

(34,880,734

)
Tax benefit at statutory U.S. federal rate (21%)  $(7,326,257)
Effect of different tax rates applicable to subsidiaries   28,831 
Effect of unrecognized deductible temporary differences   (6,643,087)
Effect of tax loss carryforwards   13,940,513 
Income tax expense  $- 
Nonrelated Party [Member]  
Defined Benefit Plan Disclosure [Line Items]  
SCHEDULE OF CONVERTIBLE NOTES

  

March 31,

2026

   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

  

March 31,

2026

   September 30,
2025		 
Beginning balance  $1,838,041   $319,220 
Issuance of convertible notes   

1,614,729

    3,693,041 
Fair value adjustment   -    - 
Conversion to Common Stock   (1,838,041)   (2,174,220)
Ending balance   1,614,729    1,838,041