PLANT AND EQUIPMENT |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
May 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PLANT AND EQUIPMENT | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PLANT AND EQUIPMENT | NOTE 6 — PLANT AND EQUIPMENT Plant and equipment consists of the following:
As of October 25, 2024, upon closing of the JAR Acquisition, the Successor revalued its vehicles to a fair value of $295,912. No additional asset transfers occurred post-acquisition, and the Predecessor’s vehicles, with a historical cost of $1,137,130, were fully retained. Depreciation expense was $19,944 and $48,368 for the three months ended May 31, 2026 and May 31, 2025, respectively, and $22,672 and $96,736 for the six months ended May 31, 2026 and May 31, 2025, respectively. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||