| RELATED PARTY TRANSACTIONS |
NOTE
11 — RELATED PARTY TRANSACTIONS
Related
parties include key management personnel, their close family members and entities under their control or joint control. Key management
personnel are those who have authority and responsibility for the planning directing and controlling the activities of the entity, directly
or indirectly. The Company defines key management personnel as the Company’s C-level executives and Board of Directors. The Company’s
relationship with related parties who had transactions with the Company are summarized as follows:
SCHEDULE OF RELATED PARTIES
TRANSACTIONS
| Related
Party |
|
Relationship
with the Company |
| Qian
Zhang |
|
Former
Director and CEO of Sundial from May 31, 2023 to July 10, 2024; Operating Officer (“COO”) of Sundial since July 10, 2024;
Former Director and Interim CEO of the Company from August 25, 2023 to September 11, 2023 |
| |
|
|
| Hao
Hu |
|
Chief
Information Officer (“CIO”) of Sundial since March 15, 2023; Director of Sundial since September 9, 2023; Interim Chief
Executive Officer of Sundial since July 10, 2024; Former Director and CTO of the Company from August 25, 2023 to September 11, 2023 |
| |
|
|
| Nicolas
Kuan Liang Lin |
|
Chief
Executive Officer (“CEO”) since September 11, 2023 and Director of the Company since August 25, 2023 |
| |
|
|
| David
Chi Ching Ho |
|
Chief
Strategy Officer (“CSO”) of the Company from April 1, 2024 to February 13, 2026 |
| |
|
|
| Siu
Hang (Henry) Wong |
|
Director
of Business Development of the Company from December 1, 2024 to February 1, 2025 and Chief Operating Officer (“COO”)
of the Company from June 1, 2024 to November 20, 2024 |
| |
|
|
| Elixir
Technology Inc. |
|
The
Company’s principal common shareholder controlled by Jaclyn Wu, a former director of the Company and Sundial |
| |
|
|
| Jaclyn
Wu |
|
Director
of Sundial from August 16, 2022 to February 15, 2026; Director of the Company from August 25, 2023 to December 14, 2025. |
| |
|
|
| Monic
Wealth Solutions Ltd. |
|
Owned
by Jaclyn Wu, a former director of the Company and Sundial |
| |
|
|
| Ledger
Pros LLC |
|
Owned
by Suresh R. Iyer, the Chief Financial Officer (“CFO”) of the Company since May 16, 2024 |
| |
|
|
| Suresh
R. Iyer |
|
Chief
Financial Officer (“CFO”) of the Company since May 16, 2024 |
| |
|
|
| Monic
Financial Group |
|
Owned
by Jaclyn Wu, a former director of the Company and Sundial |
| |
|
|
| WUYAO
Safety Technology (Hang Zhou) Co., LTD |
|
Hao
Hu, CTO of Aether, CIO and Interim CEO of Sundial, was the director of Wuyao and had Controlling Ownership of same for the period
June 20, 2025 to October 30, 2025 |
| |
|
|
| Timothy
William Murphy |
|
Director
and Company’s General Counsel (effective June 1, 2026) and CEO of Virtual Grid Inc. |
Related
Party balances
The
Company’s balances due to related parties as of June 30, 2026 and September 30, 2025 were as follows:
SCHEDULE OF DUE TO RELATED PARTIES
| Name | |
June 30, 2026 | | |
September 30, 2025 | |
| Qian Zhang | |
$ | - | | |
$ | 4,556 | |
| Elixir Technology Inc. | |
| 5,158 | | |
| 5,157 | |
| Hao Hu | |
| 16 | | |
| 10 | |
| WUYAO Safety Technology (Hang Zhou) Co., LTD | |
| - | | |
| 27,470 | |
| Total due to related parties | |
$ | 5,174 | | |
$ | 37,193 | |
The
amounts due to related parties as of June 30, 2026 and September 30, 2025 are unsecured, interest-free, and due on demand.
Related
Party transactions
The
Company had the following related party transactions:
A)
Services rendered from related parties
During
the three and nine months ended June 30, 2026, the Company did not incur any expenses for accounting services provided by Ledger Pros
LLC. During the three and nine months ended June 30, 2025, the Company incurred $0 and $18,600 for the accounting services provided by
Ledger Pros LLC.
B)
Director fees and consulting fees for services rendered by directors and consultants
SCHEDULE
OF SERVICES RENDERED BY EXECUTIVE OFFICERS AND DIRECTORS
| Name | |
Nature of Service | |
2026 | | |
2025 | |
| | |
| |
Three months ended June 30, | |
| Name | |
Nature of Service | |
2026 | | |
2025 | |
| Jaclyn Wu | |
Consulting | |
| - | | |
$ | 40,000 | |
| Siu Hang (Henry) Wong | |
Consulting | |
| - | | |
| - | |
| Wayne Huo | |
Director | |
| 8,750 | | |
| - | |
| Total | |
| |
$ | 8,750 | | |
$ | 40,000 | |
| Name | |
Nature of Service | |
2026 | | |
2025 | |
| | |
| |
Nine months ended June 30, | |
| Name | |
Nature of Service | |
2026 | | |
2025 | |
| Jaclyn Wu | |
Director/ Consulting | |
| 53,439 | | |
$ | 100,000 | |
| Siu Hang (Henry) Wong | |
Consulting | |
| - | | |
| 12,398 | |
| Wayne Huo | |
Director | |
| 23,130 | | |
| - | |
| Total | |
| |
$ | 76,569 | | |
$ | 112,398 | |
|