v3.26.1
SCHEDULE I — PARENT ONLY FINANCIAL INFORMATION
 12 Months Ended
Apr. 30, 2026
Condensed Financial Information Disclosure [Abstract]  
SCHEDULE I — PARENT ONLY FINANCIAL INFORMATION

SCHEDULE I — PARENT ONLY FINANCIAL INFORMATION

 

Condensed balance sheets

 

   2026   2025   2024 
ASSETS               
Cash and cash equivalents  $73,305   $228,108   $- 
Account receivables, net   20,000    408,600    - 
Investments in trading securities   102,365    -    - 
Amount due from a related party   256,410    -    - 
Total current assets  $452,080   $636,708   $- 
                
Non-current assets               
Operating lease right-of-use assets, net   13,024    -    - 
Deferred initial public offering costs   201,437    -    - 
Investment in equity method investee   199,709    -    - 
Investment in subsidiaries   353    234,899    240,500 
Deferred tax assets   35,149    -    - 
Total assets  $901,752   $871,607   $240,500 
                
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)               
Accrued expenses and other current liabilities  $114,487   $137,825   $67,500 
Amount due to related parties   352,525    121,985    112,180 
Amount due to subsidiaries   654    88,300    - 
Tax payables   56,090    107,878    - 
Contract liabilities   -    -    98,000 
Operating lease liabilities   13,024    -    - 
Total current liabilities  $536,780   $455,988   $277,680 
Deferred tax liabilities   2,149    -    - 
Total liabilities  $538,929   $455,988   $277,680 
                
SHAREHOLDERS’ EQUITY (DEFICIT)               
Class A Ordinary Shares  $90   $90   $90 
Class B Ordinary Shares   110    110    110 
Additional paid-in capital   83,812    49,800    49,800 
Retained earnings (Accumulated deficit)   278,811    365,619    (87,180)
Total equity/(Shareholders’ deficit)   362,823    415,619    (37,180)
                
TOTAL EQUITY AND LIABILITIES  $901,752   $871,607   $240,500 

 

 

Condensed Statements of Operation

 

   2026   2025   2024 
Revenue  $1,518,796   $1,425,308   $- 
Cost of revenue   (1,060,391)   (199,074)   (12,500)
Gross profit   458,405    1,226,234    (12,500)
                
Administrative expenses   (519,709)   (83,065)   (55,133)
Total operating expenses   (519,709)   (83,065)   (55,133)
                
Income (Loss) from operation  $(61,304)  $1,143,169   $(67,633)
                
Other income (expense)               
Interest expenses   -    (15)   - 
Other income   2,512    142    - 
Equity in earnings of equity method investee   199,309    -    - 
Unrealized gain on trading securities   35    -    - 
Total other income (loss), net  $201,856   $127   $- 
Equity in earnings (losses) of subsidiaries   (12,147)   (2,619)   (19,547)
Income (Loss) before taxes   128,405    1,140,677    (87,180)
Income tax expense (benefit)   84,788    (107,878)   - 
Net income (loss) for the year  $213,193   $1,032,799   $(87,180)

 

 

Condensed Statements of Cash flows

 

   2026   2025   2024 
CASH FLOWS FROM OPERATING ACTIVITIES               
Net income (loss)  $213,193   $1,032,799   $(87,180)
Share of results of subsidiaries   12,147    2,619    19,547 
Amortization of right-of-use assets   17,314    -    - 
Allowance for expected credit loss   200,000    -    - 
Equity in earnings of equity method investee   (199,309)   -    - 
Realized gain on trading securities   (2,332)   -    - 
Unrealized gain on trading securities   (35)   -    - 
Deferred income tax, net   (33,000)          
Changes in operating assets and liabilities:               
Account receivables   188,600    (408,600)   - 
Lease liabilities   (17,314)          
Income taxes payables   (51,788)   107,878      
Contract liabilities   -    (98,000)   98,000 
Accrued expenses and other current liabilities   (23,338)   70,325    67,500 
Net cash provided by operating activities  $304,138   $707,021   $97,867 
CASH FLOWS FROM INVESTING ACTIVITIES               
Purchase of trading securities  $(429,998)  $-   $- 
Proceeds from disposal of trading securities   330,000    -    - 
Investment in subsidiaries   -    91,282    (260,047)
Investment in equity method investee   (400)   -    - 
Net cash provided by (used in) investing activities  $(100,398)  $91,282   $(260,047)
CASH FLOWS FROM FINANCING ACTIVITIES               
Dividend paid  $(300,000)  $(580,000)  $- 
Advance from a related party   142,894    9,805    162,180 
Payments of offering costs related to IPO   (201,437)   -    - 
Net cash (used in) provided by financing activities  $(358,543)  $(570,195)  $162,180 
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS   (154,803)   228,108    - 
Cash and cash equivalents at beginning of year   228,108    -    - 
                
CASH AND CASH EQUIVALENTS AT END OF YEAR  $73,305   $228,108   $- 

 

 

NOTES TO SCHEDULE I

 

1) Schedule I has been provided pursuant to the requirements of Rule 12-04(a) and 5-04(c) of Regulation S-X, which require condensed financial information as to the financial position, changes in financial position and results of operations of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented when the restricted net assets of consolidated subsidiaries exceed 25 percent of condensed consolidated net assets as of the end of the most recently completed fiscal year. The Company does not include financial information as to the changes in equity as such financial information is the same as the consolidated statements of changes in shareholders’ equity.

 

2) The condensed financial information has been prepared using the same accounting policies as set out in the consolidated financial statements except that the equity method has been used to account for investments in its subsidiaries. For the parent company, the Company records its investments in subsidiaries under the equity method of accounting as prescribed in ASC 323, Investments — Equity Method and Joint Ventures. Such investments are presented on the Condensed Balance Sheets as “Investment in subsidiaries” and the subsidiaries’ profit or loss as “Equity in earnings (losses) of subsidiaries.” Ordinarily under the equity method, an investor in an equity method investee would cease to recognize its share of the losses of an investee once the carrying value of the investment has been reduced to nil absent an undertaking by the investor to provide continuing support and fund losses. For the purpose of this Schedule I, the parent company has continued to reflect its share, based on its proportionate interest, of the losses of subsidiaries in investment in and amount due from subsidiaries even though the parent company is not obligated to provide continuing support or fund losses.

 

3) For the years ended April 30, 2026, 2025 and 2024, there were no material contingencies, significant provisions of long-term obligations, or guarantees of the Company.