EQUITY |
12 Months Ended |
|---|---|
Sep. 30, 2025 | |
| Equity [Abstract] | |
| EQUITY | NOTE 12 – EQUITY
Ordinary shares
The Company was incorporated in the Cayman Islands as an exempted company with limited liability on July 29, 2022, with an authorized share capital of US$50,000 divided into shares of US$ each.
On February 22, 2023, additional Shares of US$ were issued and fully paid. The Company allotted shares to Mr. Bun Kwai and share to Lasting Success Holdings Limited. Immediately after the share allotment, the Company had authorized shares, par value of US$, of which were issued and outstanding.
On May 17, 2023, the Company’s shareholders and Board of Directors approved to amend the authorized share capital from US$50,000, divided into Ordinary Shares of a par value of US$ per share, to US$50,000, divided into Ordinary Shares of a par value of US$ per share. At the same day, the shareholders of the Company surrendered Ordinary Shares of US$ par value each to the Company for no consideration. As a result, the Company has authorized shares, par value of US$, of which were issued and outstanding.
On July 22, 2024, the Company consummated the Offering of ordinary shares at a price to the public of $ per share. On August 8, 2024, the Company further issued ordinary shares at a price of $ per share to the underwriter as a result of partially exercising the over-allotment option. The aggregate gross proceeds from the Offering amounted to $8,825,368, prior to deducting underwriting discounts, commissions and offering-related expenses. Upon the completion of the Offering, Ordinary Shares are issued and outstanding.
On March 21, 2025, the shareholders of the Company approved the re-designation of the authorized ordinary shares to Class A ordinary shares and Class B ordinary shares. The Company was authorized to issue a maximum number of (i) Class A ordinary shares of a par value of US$ each and (ii) Class B ordinary shares of a par value US$ each. The rights of Class A and Class B ordinary shares are essentially identical, except for voting rights: each Class A ordinary share carries one vote, while each Class B ordinary share carries twenty votes. Holders of Class B ordinary shares may voluntarily convert their shares into Class A ordinary shares on a 1:1 basis at any time, whereas conversion in the opposite direction is not permitted. In connection with this reclassification, the Company exchanged Class A ordinary shares held by certain shareholders for an equivalent number of Class B ordinary shares on a 1:1 basis. This transaction was accounted for as a recapitalization, resulting in a reclassification within shareholders’ equity, with no impact on the Company’s total stockholders’ equity or net income.
On June 18, 2025, The Company issued Class A ordinary shares at a price of $ per share. The aggregate gross proceeds from the Offering amounted to $8,000,000 prior to deducting underwriting discounts, commission and offer-related expenses. Upon the completion of the Offering, Class A Ordinary Shares and Class B Ordinary Shares are issued and outstanding.
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