INCOME TAXES (Tables)
|
6 Months Ended |
12 Months Ended |
Jun. 30, 2026 |
Dec. 31, 2025 |
| CADV Ventures S.A [Member] |
|
|
| SCHEDULE OF INCOME TAX EXPENSE |
|
SCHEDULE
OF INCOME TAX EXPENSES
| | |
2025 | | |
2024 | |
| | |
For the years ended December 31, | |
| | |
2025 | | |
2024 | |
| | |
US$ | | |
US$ | |
| Current tax expense | |
| — | | |
| — | |
| Deferred tax expense | |
| — | | |
| — | |
| Income tax expenses | |
| — | | |
| — | |
|
| SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION |
|
A
reconciliation of the income tax expense determined at the Poland statutory income tax rate to the Company’s actual income tax
expense is as follows:
SCHEDULE
OF EFFECTIVE INCOME TAX RATE RECONCILIATION
| | |
2025 | | |
2024 | |
| | |
For the years ended December 31, | |
| | |
2025 | | |
2024 | |
| | |
US$ | | |
US$ | |
| Statutory income tax rate | |
| 19 | % | |
| 19 | % |
| Income tax at Poland statutory income tax rate | |
| 20,925 | | |
| (95,526 | ) |
| Tax effect of non-taxable items | |
| 1,160 | | |
| 14 | |
| Tax effect of waived interest payable to related parties | |
| 13,764 | | |
| — | |
| Tax effect of non-deductible offering expenses | |
| 19,000 | | |
| — | |
| Change in valuation allowance of deferred tax assets | |
| (54,849 | ) | |
| 95,512 | |
| Income tax expense | |
| — | | |
| — | |
| Effective income tax rate | |
| 0 | % | |
| 0 | % |
|
| SCHEDULE OF DEFERRED TAX ASSETS |
|
The
Company’s deferred tax assets at December 31, 2025 and 2024 were as follows:
SCHEDULE
OF DEFERRED TAX ASSETS
| | |
2025 | | |
2024 | |
| | |
As of December 31, | |
| | |
2025 | | |
2024 | |
| | |
US$ | | |
US$ | |
| Deferred tax assets | |
| | | |
| | |
| Net operating loss carried forward | |
| 47,441 | | |
| 87,249 | |
| Other temporary differences | |
| 3,940 | | |
| 5,438 | |
| Total deferred tax assets | |
| 51,381 | | |
| 92,687 | |
| Less, valuation allowance | |
| (51,381 | ) | |
| (92,687 | ) |
| Deferred tax assets, net | |
| — | | |
| — | |
|
| SCHEDULE OF DEFERRED TAX VALUATION ALLOWANCE |
|
The
movement of the Company’s deferred tax valuation allowance for the years ended December 31, 2025 and 2024 were as follows:
SCHEDULE
OF DEFERRED TAX VALUATION ALLOWANCE
| | |
2025 | | |
2024 | |
| | |
As of December 31, | |
| | |
2025 | | |
2024 | |
| | |
US$ | | |
US$ | |
| Balance at beginning of the year | |
| 92,687 | | |
| — | |
| Addition of valuation allowance | |
| — | | |
| 95,512 | |
| Reversal of valuation allowance | |
| (54,849 | ) | |
| — | |
| Foreign exchange translation adjustment | |
| 13,543 | | |
| (2,825 | ) |
| Balance at end of the year | |
| 51,381 | | |
| 92,687 | |
|
| Kukugan Invest [Member] |
|
|
| SCHEDULE OF INCOME TAX EXPENSE |
SCHEDULE OF INCOME TAX EXPENSE
| | |
Successor
2026 | | |
Predecessor
2026 | | |
Predecessor
2025 | |
| | |
Successor | | |
Predecessor | |
| | |
For the period from
January 6 through
June 30,
| | |
For the period
from January 1
through 5
|
| |
For the six
months ended
June 30
| |
| | |
2026 | | |
2026 | | |
2025 | |
| | |
US$ | | |
US$ | | |
US$ | |
| Current tax expense | |
| — | | |
| — | | |
| — | |
| Deferred tax expense | |
| — | | |
| — | | |
| — | |
| Income tax expenses | |
| — | | |
| — | | |
| — | |
|
|
| SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION |
All
the Group’s operation is conducted through its subsidiary, CADV, therefore the profit/loss before tax is entirely generated from
the Republic of Poland. A reconciliation of the income tax expense determined at the Poland statutory income tax rate to the Company’s
actual income tax expense is as follows:
SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION
| |
| Successor 2026 | |
| | | |
|
| | Predecessor 2026 | |
| | | |
| | Predecessor 2025 | |
| | |
| | |
Successor | |
|
Predecessor |
| | |
For the period from January 6 through June 30, | |
|
For the period from January 1 through 5, | |
For the six months ended June 30, |
| | |
2026 | |
|
2026 | |
2025 |
| | |
US$ | |
|
US$ | |
US$ |
| Statutory income tax rate | |
| 19 | % | |
| | | |
|
| 19 | % | |
| | | |
| 19 | % | |
| | |
| Income tax at Poland statutory income tax rate | |
| (20,077 | ) | |
| 19 | % | |
|
| (63 | ) | |
| 19 | % | |
| 36,242 | | |
| 19 | % |
| Tax effect of non-deductible items | |
| 386 | | |
| 0.4 | % | |
|
| — | | |
| — | | |
| 60 | | |
| 0.03 | % |
| Tax effect of non-deductible IPO expenses | |
| 28,135 | | |
| 26.6 | % | |
|
| — | | |
| — | | |
| — | | |
| — | |
| Change in valuation allowance of deferred tax assets | |
| (8,445 | ) | |
| (8.0 | )% | |
|
| 63 | | |
| 19 | % | |
| (36,302 | ) | |
| (19 | )% |
| Income tax expense | |
| — | | |
| — | | |
|
| — | | |
| — | | |
| — | | |
| — | |
| Effective income tax rate | |
| 0 | % | |
| | | |
|
| 0 | % | |
| | | |
| 0 | % | |
| | |
|
|
| SCHEDULE OF DEFERRED TAX ASSETS |
The
Group’s deferred tax assets at June 30, 2026 and December 31, 2025 were as follows:
SCHEDULE OF DEFERRED TAX ASSETS
| | |
Successor | |
Predecessor |
| | |
As of June 30, | |
As of December 31, |
| | |
2026 | |
2025 |
| | |
US$ | |
US$ |
| Deferred tax assets | |
| | | |
| | |
| Net operating loss carried forward | |
| 33,716 | | |
| 47,441 | |
| Other temporary differences | |
| 6,809 | | |
| 3,940 | |
| Total deferred tax assets | |
| 40,525 | | |
| 51,381 | |
| Less, valuation allowance | |
| (40,525 | ) | |
| (51,381 | ) |
| Deferred tax assets, net | |
| — | | |
| — | |
|
|
| SCHEDULE OF DEFERRED TAX VALUATION ALLOWANCE |
The
movement of the Group’s deferred tax valuation allowance for the Successor period from January 6 through June 30, 2026 and for
the Predecessor periods from January 1 through 5, 2026 and for the six months ended June 30, 2025 were as follows:
SCHEDULE OF DEFERRED TAX VALUATION ALLOWANCE
| | |
Successor 2026 | |
|
Predecessor 2026 | |
Predecessor 2025 |
| | |
Successor | |
|
Predecessor |
| | |
For the period from January 6 through June 30, | |
|
For the period from January 1 through January 5, | |
For the six months ended June 30, |
| | |
2026 | |
|
2026 | |
2025 |
| | |
US$ | |
|
US$ | |
US$ |
| Balance at beginning of the period | |
| 51,420 | | |
|
| 51,381 | | |
| 92,687 | |
| Addition of valuation allowance | |
| — | | |
|
| 63 | | |
| — | |
| Reversal of valuation allowance | |
| (8,445 | ) | |
|
| — | | |
| (36,302 | ) |
| Foreign exchange translation adjustment | |
| (2,450 | ) | |
|
| (24 | ) | |
| 4,587 | |
| Balance at end of the period | |
| 40,525 | | |
|
| 51,420 | | |
| 60,972 | |
|
|