| SCHEDULE OF PREPAYMENTS |
Prepayment
consist of the following:
SCHEDULE OF PREPAYMENTS
| | |
September
30,
2025 | | |
September
30,
2024 | |
| | |
As
of | |
| | |
September
30,
2025 | | |
September
30,
2024 | |
| | |
| | |
| |
| Development
of Enterprise Resources Planning System(1) | |
$ | 1,850,000 | | |
$ | 1,857,310 | |
| Prepaid marketing expenses(2) | |
| - | | |
| 2,670,240 | |
| Office
reinstatement | |
| 12,356 | | |
| - | |
Prepaid
management fee | |
| 1,088 | | |
| - | |
| Total | |
$ | 1,863,444 | | |
$ | 4,527,550 | |
| Less:
Amount classified as non-current assets | |
| - | | |
| (1,179,873 | ) |
| Amount
classified as current assets | |
$ | 1,863,444 | | |
$ | 3,347,677 | |
| (1) |
On July 15, 2024, the Company entered into a contract with a third party for the development and maintenance of a
customized enterprise resource planning (“ERP”) system for total consideration of $1,850,000. On February 10, 2025, the parties
entered into a supplemental agreement specifying the system’s features. As of September 30, 2025, the system remained incomplete
and, accordingly, had not been recognized as an intangible asset. |
| (2) |
On July 15, 2024, the Company entered into a contract with a third party for one year of marketing services, including
investor relations, media coverage, advertising and social media monitoring, production of marketing materials, and translation services,
for total consideration of $2,500,000. On August 1, 2024, the parties entered into a supplemental agreement extending the term to two
years and increasing the total consideration to $2,969,000. As of September 30, 2024, the amount paid under the contracts was recorded
as prepayments. On May 14, 2025, the contracts were terminated
by mutual agreement, and the third party agreed to refund $2,500,000 to the Company. As of September 30, 2025, the $2,500,000 refund receivable
was recorded as other current assets. |
|