| Condensed financial information of the parent company |
Note 17 – Condensed financial information
of the parent company
The Company performed a test on the restricted net
assets of the consolidated subsidiary in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3),
“General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial statements
for the parent company.
The subsidiary did not pay any dividend to the Company
for the periods presented herein. For the purpose of presenting parent-only financial information, the Company records its investment
in its subsidiary under the equity method of accounting. Such investment is presented on the separate condensed balance sheets of the
Company as “Investment in subsidiary” and the income of the subsidiary is presented as “share of income of subsidiary”.
Certain information and footnote disclosures generally included in financial statements prepared in accordance with U.S. GAAP have been
condensed and omitted.
The Company did not have significant capital and other
commitments, long-term obligations, or guarantees as of March 31, 2026 and September 30, 2025.
PARENT COMPANY BALANCE SHEETS
| Schedule of parent
company balance sheets |
|
|
|
|
|
|
|
|
| |
|
March 31,
2026 |
|
September 30, 2025 |
| |
|
(Unaudited) |
|
|
| ASSETS |
|
|
|
|
|
|
|
|
| OTHER ASSETS |
|
|
|
|
|
|
|
|
| Cash |
|
$ |
28,302 |
|
|
$ |
— |
|
| Investment in subsidiaries |
|
|
772,055 |
|
|
|
2,084,662 |
|
| Restricted cash - non-current |
|
|
300,000 |
|
|
|
300,000 |
|
| Due from subsidiaries |
|
|
6,231,047 |
|
|
|
3,974,656 |
|
| Prepayment |
|
|
385,000 |
|
|
|
116,250 |
|
| Deferred IPO costs |
|
|
— |
|
|
|
52,960 |
|
| Total assets |
|
|
7,716,404 |
|
|
|
6,528,528 |
|
| |
|
|
|
|
|
|
|
|
| LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
| CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
| Other payables |
|
|
688,172 |
|
|
|
712,311 |
|
| Due to a shareholder |
|
|
1,136,062 |
|
|
|
1,056,062 |
|
| Total liabilities |
|
|
1,824,234 |
|
|
|
1,768,373 |
|
| |
|
|
|
|
|
|
|
|
| COMMITMENTS AND CONTINGENCIES |
|
|
— |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
| SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
| Ordinary shares, $0.00001 par value, 4,900,000,000 shares authorized, 1,024,834 and 690,000 shares issued and outstanding as of March 31, 2026 and September 30, 2025, respectively* |
|
|
10 |
|
|
|
7 |
|
| Preference shares, $0.00001 par value, 100,000,000 shares authorized, no shares issued and outstanding as of March 31, 2026 and September 30, 2025, respectively* |
|
|
— |
|
|
|
— |
|
| Additional paid-in capital |
|
|
10,192,926 |
|
|
|
6,566,686 |
|
| Deficits |
|
|
(4,300,766 |
) |
|
|
(1,806,538 |
) |
| Total shareholders’ equity |
|
|
5,892,170 |
|
|
|
4,760,155 |
|
| |
|
|
|
|
|
|
|
|
| Total liabilities and shareholders’ equity |
|
$ |
7,716,404 |
|
|
$ |
6,528,528 |
|
* Shares and per share data are presented on a retroactive
basis to reflect the 1 – for – 10 reverse split effected on June 4, 2026.
PARENT COMPANY STATEMENTS OF OPERATIONS AND COMPREHENSIVE
LOSS
| Schedule of Parent company statement of operations and comprehensive income loss |
|
|
|
|
|
|
|
|
| |
|
For the Six Months Ended
March 31, |
| |
|
2026 |
|
2025 |
| |
|
(Unaudited) |
|
(Unaudited) |
| OTHER (EXPENSE) INCOME |
|
|
|
|
|
|
|
|
| Equity loss of subsidiaries |
|
$ |
(1,312,607 |
) |
|
$ |
(222,778 |
) |
| General and administrative expenses |
|
|
(1,181,621 |
) |
|
|
(207,892 |
) |
| Total other expense, net |
|
|
(2,494,228 |
) |
|
|
(430,670 |
) |
| |
|
|
|
|
|
|
|
|
| NET LOSS |
|
$ |
(2,482,889 |
) |
|
$ |
(368,815 |
) |
PARENT COMPANY STATEMENTS OF CASH FLOWS
| Schedule of parent company statements of cash flows |
|
|
|
|
|
|
|
|
| |
|
For the Six Months Ended
March 31, |
| |
|
2026 |
|
2025 |
| |
|
(Unaudited) |
|
(Unaudited) |
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
(2,494,228 |
) |
|
$ |
(430,670 |
) |
| Stock compensation expenses |
|
|
385,000 |
|
|
|
|
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
|
|
| Equity loss of subsidiaries |
|
|
1,312,607 |
|
|
|
222,778 |
|
| Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
| Decrease in other receivables |
|
|
116,250 |
|
|
|
— |
|
| Decrease in other payables |
|
|
(24,139 |
) |
|
|
— |
|
| Due to related parties |
|
|
— |
|
|
|
207,892 |
|
| Net cash used in operating activities |
|
|
(704,510 |
) |
|
|
— |
|
| |
|
|
|
|
|
|
|
|
| CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
|
|
|
|
|
| Loans to subsidiaries |
|
|
(2,256,391 |
) |
|
|
— |
|
| Net cash used in investing activities |
|
|
(2,256,391 |
) |
|
|
— |
|
| |
|
|
|
|
|
|
|
|
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
|
|
|
|
|
| Payments for deferred offering costs |
|
|
(532,173 |
) |
|
|
— |
|
| Gross proceeds from registered direct financing |
|
|
3,441,376 |
|
|
|
— |
|
| Proceeds received from shareholder loans |
|
|
80,000 |
|
|
|
— |
|
| Net cash provided in financing activities |
|
|
2,989,203 |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
| CHANGES IN CASH |
|
|
28,302 |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
| CASH AND RESTRICTED CASH, beginning of the period |
|
|
300,000 |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
| CASH AND RESTRICTED CASH, end of the period |
|
$ |
328,302 |
|
|
$ |
— |
|
|