v3.26.1
ACQUISITIONS
 9 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
ACQUISITIONS

NOTE 6 – ACQUISITIONS

 

In November 2025, the Company completed the acquisition of the 51% controlling equity interests in three unrelated companies:

 

 SCHEDULE OF ACQUISITION OF EQUITY INTERESTS

Name of acquiree  Equity interest acquired   General description
Dong Li Fang Zhou Co. Limited (“DLFZ”)   51%  DLFZ sells automotive lubricant and car care products
Homula Limited Company (“HLC”)   51%  HLC sells interior and architectural materials
Haisen Shangliu Co. Limited (“HSCL”)   51%  HSCL sells consumer products

 

The Company utilized the acquisition method of accounting for the acquisitions in accordance with ASC 805, Business Combinations. The Company allocated the purchase price to acquired tangible assets, identifiable intangible assets, and assumed liabilities at their estimated fair values as of the date of acquisition. The Company acquired the three entities from existing shareholders for (i) cash consideration of $48,837 (NT$ 1,530,000); (ii) 331,350 shares of the Company’s common stock issuable upon execution of acquisition agreements; and (iii) contingent consideration consisting of an estimated 356,202 shares of the Company’s common stock (out of a maximum of 6,295,650 shares) issuable upon the achievement of specified post-acquisition revenue milestones. Contingent shares not earned in accordance with the performance milestones are forfeited.

 

 SCHEDULE OF ACQUISITION

   Dong Li Fang Zhou   Homula   Haisen Shangliu   Effect of exchange rate changes   Total 
Fair value of consideration                         
Cash  $16,351   $16,351   $16,257   $(122)  $48,837 
Fair value of common stock (331,350 total shares issued)   55,225    55,225    55,225    (634)   165,041 
Fair value of contingent consideration liability   59,367    59,367    59,026    (681)   177,079 
Total consideration transferred   130,943    130,943    130,508    (1,437)   390,957 
Non-controlling interest (49%)   13,205    (7,588)   15,272    (31)   20,858 
Total fair value  $144,148   $123,355    145,780   $(1,468)  $411,815 
                          
Allocation to assets acquired and liabilities assumed:                         
Cash  $2,675   $19,373   $31,891   $-   $53,939 
Prepaid expenses   74,397    15,481    238    -    90,116 
Office equipment   -    3,347    4,153    -    7,500 
Accounts and other payables   (50,123)   (53,686)   (5,114)   -    (108,923)
Net tangible assets   26,949    (15,485)   31,168    -    42,632 
                          
Intangible assets (provisional)   117,199    138,840    114,612    (1,468)   369,183 
Total net assets acquired  $144,148   $123,355   $145,780   $(1,468)  $411,815 

 

The results of Dong Li Fang Zhou, Homula Limited, and Haisen Shangliu are included in the Company’s unaudited condensed consolidated financial statements from the date acquired in November 2025 through June 30, 2026. The Company has not disclosed pro-forma revenue and earnings attributable to Dong Li Fang Zhou, Homula Limited, and Haisen Shangliu as they did not have a material effect on the Company’s condensed consolidated financial statements.