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Note 1 — Description of Organization and Business Operations Business Operations D. Boral ARC Merger Corporation (the “Company” or “PubCo”) is a Delaware company formed by D. Boral ARC Acquisition I Corp. (the “Parent” or “BCAR”) on December 19, 2025 (inception). The Company has adopted a fiscal year-end of December 31. The Company is authorized to issue 100 shares of Common Stock of par value $0.0001 each share. The Company was formed to be the surviving company in connection with a contemplated business combination between the Parent and a target company. The Company has no principal operations or revenue producing activities. Going Concern The Company was formed by the Parent. The Parent has until February 1, 2027 to complete its initial business combination (unless further extended). If the Parent is unable to complete the initial business combination by February 1, 2027, the Parent must cease all operations and dissolve and liquidate (unless further extended). The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. If the Parent is unable to raise additional funds to alleviate liquidity needs as well as complete a business combination by close of February 1, 2027 (unless further extended), then the Company will cease all operations except for the purpose of liquidating. The liquidity condition and date for liquidation and subsequent dissolution raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

Note 2 — Significant Accounting Policies Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC. The financial statements as of December 31, 2025 and for the period from December 19, 2025 (inception) through December 31, 2025 respectively, are audited. In the opinion of management, the financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Risks and Uncertainties Our future results of operations involve a number of risks and uncertainties. Factors that could affect our business or future results and cause actual results to vary materially from historical results include our ability to execute our acquisition strategy. Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined the United States is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits as of December 31, 2025 and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception. The provision for income taxes was deemed to be immaterial for the period from December 19, 2025 (inception) through December 31, 2025. Loss Per Share The Company computes basic loss per share (“EPS”) by dividing net loss by the weighted average number of common stock shares outstanding for the reporting period. Diluted earnings per share is calculated by dividing net loss by the weighted average number of common stock shares equivalents outstanding. During the periods when there are anti-dilutive, common stock share equivalents, if any, are not considered in the computation. As of December 31, 2025 there were no anti-dilutive common stock shares or common stock share equivalents outstanding. Fair Value of Financial Instruments The Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td> <td style="width: 0.25in; text-align: left">●</td> <td style="text-align: justify">Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td> <td style="width: 0.25in; text-align: left">●</td> <td style="text-align: justify">Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td> <td style="width: 0.25in; text-align: left">●</td> <td style="text-align: justify">Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.</td> </tr> </table> In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Recently adopted accounting pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, requiring public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. The Company adopted ASU 2023-07 since inception. Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statement.

Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC. The financial statements as of December 31, 2025 and for the period from December 19, 2025 (inception) through December 31, 2025 respectively, are audited. In the opinion of management, the financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.

Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.

Risks and Uncertainties Our future results of operations involve a number of risks and uncertainties. Factors that could affect our business or future results and cause actual results to vary materially from historical results include our ability to execute our acquisition strategy.

Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined the United States is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits as of December 31, 2025 and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception. The provision for income taxes was deemed to be immaterial for the period from December 19, 2025 (inception) through December 31, 2025.

Loss Per Share The Company computes basic loss per share (“EPS”) by dividing net loss by the weighted average number of common stock shares outstanding for the reporting period. Diluted earnings per share is calculated by dividing net loss by the weighted average number of common stock shares equivalents outstanding. During the periods when there are anti-dilutive, common stock share equivalents, if any, are not considered in the computation. As of December 31, 2025 there were no anti-dilutive common stock shares or common stock share equivalents outstanding.

Fair Value of Financial Instruments The Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td> <td style="width: 0.25in; text-align: left">●</td> <td style="text-align: justify">Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td> <td style="width: 0.25in; text-align: left">●</td> <td style="text-align: justify">Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td> <td style="width: 0.25in; text-align: left">●</td> <td style="text-align: justify">Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.</td> </tr> </table> In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

Recently adopted accounting pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, requiring public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. The Company adopted ASU 2023-07 since inception. Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statement.

Note 3 — Segment Information ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance. The Company’s chief operating decision maker has been identified as directors (“CODM”), who review the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one operating segment. When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics, formation and operational costs which includes the accompanying statement of operations. The key measures of segment profit or loss reviewed by our CODM is formation and operational costs. Formation and operational costs are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination within the business combination period. The CODM also reviews formation and operational costs to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget.

Note 4 — Business Combination On January 11, 2026, D. Boral ARC Acquisition I Corp. (“BCAR” or the “Company”) entered into the Agreement and Plan of Merger (the “Merger Agreement”) by and among BCAR, D. Boral ARC Merger Corporation, a Delaware corporation and wholly owned subsidiary of BCAR (“PubCo”), D. Boral Arc Merger Sub Inc. (“Merger Sub”), a Delaware corporation and a wholly-owned subsidiary of BCAR, and Exascale Labs Inc., a Delaware corporation (“Exascale”). Pursuant to the Merger Agreement, the Business Combination will be effected in two steps: (i) BCAR will reincorporate in the State of Delaware by merging with and into PubCo, with PubCo remaining as the surviving publicly traded entity (the “Reincorporation Merger”); (ii) after the Reincorporation Merger, Merger Sub will be merged with and into Exascale, resulting in Exascale being a wholly owned subsidiary of PubCo (the “Acquisition Merger” and together with the Reincorporation Merger, the “Business Combination”). The aggregate consideration for the Acquisition Merger is $500,000,000 (the “Merger Consideration”), payable in the form of 50,000,000 newly issued shares of common stock of PubCo valued at $10.00 per share to Exascale and its shareholders. At the closing of the Acquisition Merger (the “Closing”), the issued and outstanding shares in Exascale held by the former Exascale shareholders will be cancelled and cease to exist as follows: <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; background-color: #FFFFFF"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; background-color: #FFFFFF; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #FFFFFF; text-align: justify">Each issued and outstanding share of Exascale Class B common stock shall be cancelled and converted into the right to receive a number of shares of PubCo Class B common stock (the “PubCo Class B Shares”) equal to the quotient obtained by dividing (a) the quotient equal to the Merger Consideration divided by the fully diluted Exascale capitalization (the “Per Share Merger Consideration”) by (b) Ten Dollars ($10.00), with each such PubCo Class B Share having twenty (20) votes per share; and</td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; background-color: #FFFFFF"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; background-color: #FFFFFF; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #FFFFFF; text-align: justify">Each issued and outstanding share of Exascale Class A common stock shall be cancelled and converted into the right to receive a number of shares of PubCo Class A common stock (the “PubCo Class A Shares”) equal to the quotient obtained by dividing (a) the Per Share Merger Consideration by (b) Ten Dollars ($10.00), with each such PubCo Class A Share having one (1) vote per share.</td> </tr> </table>

500000000

50000000

Note 5 — Share Capital The Company is authorized to issue 100 shares of Common Stock of par value $0.0001 each share. Holders of the Company’s common stock are entitled to one vote for each share. On December 19, 2025, the Company issued 100 shares of common stock to its Parent D. Boral ARC Acquisition I Corp., at a purchase price of $1.00 per share, or an aggregate purchase price of $100. The subscription fee was not received yet as of December 31, 2025.

100

0.0001

100

Note 6 — Subsequent Events In preparing the financial statements, the Company considered disclosures of events occurring after December 31, 2025, until the issuance of the financial statements. Based on this review, the Company identified the following subsequent event. On January 11, 2026, D. Boral ARC Acquisition I Corp. (“BCAR” or the “Company”) entered into the Agreement and Plan of Merger (the “Merger Agreement”) by and among BCAR, D. Boral ARC Merger Corporation, a Delaware corporation and wholly owned subsidiary of BCAR (“PubCo”), D. Boral Arc Merger Sub Inc. (“Merger Sub”), a Delaware corporation and a wholly-owned subsidiary of BCAR, and Exascale Labs Inc., a Delaware corporation (“Exascale”).

590

10000

590

10590

590

10590

0.0001

100

-590

-10590

100 100

-590

-10590

10000

-10000

100

-100.00

100

-590

-100

-590

-10000

100

-10590

-100

-10590

-10000

10000

Note 1 — Description of Organization and Business Operations Business Operations D. Boral ARC Merger Corporation (the “Company” or “PubCo”) is a Delaware company formed by D. Boral ARC Acquisition I Corp. (the “Parent” or “BCAR”) on December 19, 2025 (inception). The Company has adopted a fiscal year-end of December 31. The Company is authorized to issue 100 shares of Common Stock of par value $0.0001 each share. The Company was formed to be the surviving company in connection with a contemplated business combination between the Parent and a target company. The Company has no principal operations or revenue producing activities. Going Concern The Company was formed by the Parent. The Parent has until February 1, 2027 to complete its initial business combination (unless further extended). If the Parent is unable to complete the initial business combination by February 1, 2027, the Parent must cease all operations and dissolve and liquidate (unless further extended). The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. If the Parent is unable to raise additional funds to alleviate liquidity needs as well as complete a business combination by close of February 1, 2027 (unless further extended), then the Company will cease all operations except for the purpose of liquidating. The liquidity condition and date for liquidation and subsequent dissolution raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

Note 2 — Significant Accounting Policies Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC. The financial statements as of March 31, 2026 and for the three months ended March 31, 2026 respectively, are un audited. In the opinion of management, the financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Risk and Uncertainties Our future results of operations involve a number of risks and uncertainties. Factors that could affect our business or future results and cause actual results to vary materially from historical results include our ability to execute our acquisition strategy. Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined the United States is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits as of December 31, 2025 and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception. The provision for income taxes was deemed to be immaterial for the three months ended March 31, 2026. Loss Per Share The Company computes basic loss per share (“EPS”) by dividing net loss by the weighted average number of common stock shares outstanding for the reporting period. Diluted earnings per share is calculated by dividing net loss by the weighted average number of common stock shares equivalents outstanding. During the periods when there are anti-dilutive, common stock share equivalents, if any, are not considered in the computation. As of March 31, 2026 there were no anti-dilutive common stock shares or common stock share equivalents outstanding. Fair Value of Financial Instruments The Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td> <td style="width: 0.25in; text-align: left">●</td> <td style="text-align: justify">Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td> <td style="width: 0.25in; text-align: left">●</td> <td style="text-align: justify">Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td> <td style="width: 0.25in; text-align: left">●</td> <td style="text-align: justify">Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.</td> </tr> </table> In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Recently adopted accounting pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, requiring public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. The Company adopted ASU 2023-07 since inception. Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statement.

Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC. The financial statements as of March 31, 2026 and for the three months ended March 31, 2026 respectively, are un audited. In the opinion of management, the financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.

Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.

Risk and Uncertainties Our future results of operations involve a number of risks and uncertainties. Factors that could affect our business or future results and cause actual results to vary materially from historical results include our ability to execute our acquisition strategy.

Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined the United States is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits as of December 31, 2025 and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception. The provision for income taxes was deemed to be immaterial for the three months ended March 31, 2026.

Loss Per Share The Company computes basic loss per share (“EPS”) by dividing net loss by the weighted average number of common stock shares outstanding for the reporting period. Diluted earnings per share is calculated by dividing net loss by the weighted average number of common stock shares equivalents outstanding. During the periods when there are anti-dilutive, common stock share equivalents, if any, are not considered in the computation. As of March 31, 2026 there were no anti-dilutive common stock shares or common stock share equivalents outstanding.

Fair Value of Financial Instruments The Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td> <td style="width: 0.25in; text-align: left">●</td> <td style="text-align: justify">Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td> <td style="width: 0.25in; text-align: left">●</td> <td style="text-align: justify">Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td> <td style="width: 0.25in; text-align: left">●</td> <td style="text-align: justify">Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.</td> </tr> </table> In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

Recently adopted accounting pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, requiring public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. The Company adopted ASU 2023-07 since inception. Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statement.

Note 3 — Segment Information ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance. The Company’s chief operating decision maker has been identified as directors (“CODM”), who review the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one operating segment. When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics, formation and operational costs which includes the accompanying statement of operations. The key measures of segment profit or loss reviewed by our CODM is formation and operational costs. Formation and operational costs are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination within the business combination period. The CODM also reviews formation and operational costs to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget.

Note 4 — Business Combination On January 11, 2026, D. Boral ARC Acquisition I Corp. (“BCAR” or the “Company”) entered into the Agreement and Plan of Merger (the “Merger Agreement”) by and among BCAR, D. Boral ARC Merger Corporation, a Delaware corporation and wholly owned subsidiary of BCAR (“PubCo”), D. Boral Arc Merger Sub Inc. (“Merger Sub”), a Delaware corporation and a wholly-owned subsidiary of BCAR, and Exascale Labs Inc., a Delaware corporation (“Exascale”). Pursuant to the Merger Agreement, the Business Combination will be effected in two steps: (i) BCAR will reincorporate in the State of Delaware by merging with and into PubCo, with PubCo remaining as the surviving publicly traded entity (the “Reincorporation Merger”); (ii) after the Reincorporation Merger, Merger Sub will be merged with and into Exascale, resulting in Exascale being a wholly owned subsidiary of PubCo (the “Acquisition Merger” and together with the Reincorporation Merger, the “Business Combination”). The aggregate consideration for the Acquisition Merger is $500,000,000 (the “Merger Consideration”), payable in the form of 50,000,000 newly issued shares of common stock of PubCo valued at $10.00 per share to Exascale and its shareholders. At the closing of the Acquisition Merger (the “Closing”), the issued and outstanding shares in Exascale held by the former Exascale shareholders will be cancelled and cease to exist as follows: <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; background-color: #FFFFFF"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; background-color: #FFFFFF; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #FFFFFF; text-align: justify">Each issued and outstanding share of Exascale Class B common stock shall be cancelled and converted into the right to receive a number of shares of PubCo Class B common stock (the “PubCo Class B Shares”) equal to the quotient obtained by dividing (a) the quotient equal to the Merger Consideration divided by the fully diluted Exascale capitalization (the “Per Share Merger Consideration”) by (b) Ten Dollars ($10.00), with each such PubCo Class B Share having twenty (20) votes per share; and</td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; background-color: #FFFFFF"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; background-color: #FFFFFF; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #FFFFFF; text-align: justify">Each issued and outstanding share of Exascale Class A common stock shall be cancelled and converted into the right to receive a number of shares of PubCo Class A common stock (the “PubCo Class A Shares”) equal to the quotient obtained by dividing (a) the Per Share Merger Consideration by (b) Ten Dollars ($10.00), with each such PubCo Class A Share having one (1) vote per share.</td> </tr> </table>

500000000

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Note 5 — Share Capital The Company is authorized to issue 100 shares of Common Stock of par value $0.0001 each share. Holders of the Company’s common stock are entitled to one vote for each share. On December 19, 2025, the Company issued 100 shares of common stock to its Parent D. Boral ARC Acquisition I Corp., at a purchase price of $1.00 per share, or an aggregate purchase price of $100. The subscription fee was not received yet as of March 31, 2026.

100

0.0001

100

Note 6 — Subsequent Events In preparing the financial statements, the Company considered disclosures of events occurring after March 31, 2026, until the issuance of the financial statements. Based on this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

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NOTE 1. DESCRIPTION OF ORGANIZATION, BUSINESS OPERATIONS D. BORAL ARC ACQUISITION I CORP. (the “Company”) is a blank check company incorporated in the British Virgin Islands on March 20, 2025. The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (“Business Combination”). While the Company may pursue an acquisition opportunity in any business, industry, sector or geographical location, the Company intends to focus on industries that complement our management team’s background, and to capitalize on the ability of our management team to identify and acquire a business. At December 31, 2025, the Company had not yet commenced any operations. All activity through December 31, 2025 related to the Company’s formation and the Initial Public Offering (as defined below). The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies. The Company’s sponsor is MFH 1, LLC (the “Sponsor”). The registration statement for the Company’s Initial Public Offering was declared effective on July 30, 2025. On August 1, 2025, the Company consummated its Initial Public Offering of <span id="xdx_900_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zM2SRpl2iXr8" title="Sale of units in initial public offering">25,000,000 units (the “Units” and, with respect to the Class A Ordinary Shares included in the Units being offered, the “Public Shares”), at $10.00 per Unit, generating gross proceeds of $<span id="xdx_90C_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zlSvdjFAyqs3" title="Sale of units in initial public offering aggragate amount">250,000,000 (the “Initial Public Offering”). The Company granted the underwriter a 45-day option to purchase up to an additional <span id="xdx_901_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zWoRdCmZcUFf" title="Sale of units in initial public offering">3,750,000 Units at the Initial Public Offering price to cover over-allotments, if any. Simultaneously with the consummation of the closing of the Offering, the Company consummated the private placement of an aggregate of <span id="xdx_90C_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zw4u4zVHUEv4" title="Sale of units in initial public offering">200,000 units (the “Placement Units”) to the Sponsor at a price of $10.00 per Unit, generating gross proceeds of $<span id="xdx_90A_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zsTPqo7PFWm9" title="Sale of units in initial public offering aggragate amount">2,000,000 (the “Private Placement”). (see Note 4). Transaction costs amounted to $3,582,634, consisting of $2,419,400 of the Representative Shares (discussed in the below) and $1,163,234 of other offering costs. In conjunction with the IPO, the Company issued to the underwriter <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember_zHSwPmu8hC1i" title="Number of share issued">1,000,000 Class A ordinary shares for no consideration (the “Representative Shares”). The fair value of the Representative Shares accounted for as compensation under Accounting Standards Codification (“ASC”) 718, “Compensation – Stock Compensation” (“ASC 718”) is included in the offering costs. The estimated fair value of the Representative Shares as of the IPO date totaled $<span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember_zA20iBR5Hroc" title="Number of share issued, value">2,419,400. Following the closing of the Initial Public Offering on August 1, 2025, an amount of $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember_zLwzhRM9Vu57" title="proceeds from sale of initial public offering">250,000,000 ($10.00 per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and a portion of the proceeds from the sale of the Placement Units was placed in a trust account (the “Trust Account”), located in the United States and held as cash items and will be invested only in U.S. government securities with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act, that invest only in direct U.S. government treasury obligations; the holding of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended business combination. To mitigate the risk that the Company might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer that the Company hold investments in the trust account, the Company may, at any time (based on our management team’s ongoing assessment of all factors related to our potential status under the Investment Company Act), instruct the trustee to liquidate the investments held in the trust account and instead to hold the funds in the trust account in cash or in an interest bearing demand deposit account at a bank. On August 11, 2025, the underwriters of the IPO notified the Company of their partial exercise of the over-allotment option and purchased <span id="xdx_90A_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250802__20250811__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zi9GKrMqAPB7" title="Sale of units in initial public offering">3,000,000 additional units (the “Option Units”) at $10.00 per unit upon the closing of the over-allotment option, generating gross proceeds of $<span id="xdx_90C_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20250802__20250811__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zpUVlryqwzvb" title="Sale of units in initial public offering aggragate amount">30,000,000. The over-allotment option closed on August 13, 2025. On September 9, 2025, the Underwriters advised the Company that it has elected not to exercise the remaining over-allotment option and thereby forfeit the option. As a result, on September 9, 2025, the Company cancelled a total of 321,429 of the Company’s founder shares, issued to MFH 1, LLC thereby reducing the sponsor’s total shares to 12,000,000, which was effective from August 1, 2025. The Company will provide its public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of our initial business combination either (i) in connection with a shareholder meeting called to approve the initial business combination or (ii) by means of a tender offer. In connection with a proposed Business Combination, the Company may seek shareholder approval of a Business Combination at a meeting called for such purpose at which shareholders may seek to redeem their shares, regardless of how they vote for the Business Combination. The shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially $10.00 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations). The per-share amount to be distributed to shareholders who redeem their Public Shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriter. These ordinary shares was recorded at a redemption value and classified as temporary equity upon the completion of the Initial Public Offering, in accordance with Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” If a shareholder vote is not required and the Company does not decide to hold a shareholder vote for business or other reasons, the Company will, pursuant to its amended and restated memorandum and articles of association conduct the redemptions pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, which regulate issuer tender offers, and file tender offer documents with the SEC prior to completing our initial business combination which contain substantially the same financial and other information about the initial business combination and the redemption rights as is required under Regulation 14A of the Exchange Act, which regulates the solicitation of proxies. The sponsor, officers and directors have entered into a letter agreement with the Company, pursuant to which they have agreed to (i) waive their redemption rights with respect to their founder shares, private shares and public shares in connection with the completion of our initial business combination; (ii) waive their redemption rights with respect to their founder shares, private shares and public shares in connection with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association; (iii) waive their rights to liquidating distributions from the trust account with respect to their founder shares and private shares if the Company fail to complete our initial business combination within the completion window, although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if the Company fail to complete our initial business combination within the prescribed time frame and to liquidating distributions from assets outside the trust account; and (iv) vote any founder shares and private shares held by them and any public shares they may purchase (including in open market and privately-negotiated transactions) in favor of our initial business combination (except that any public shares such parties may purchase in compliance with the requirements of Rule 14e-5 under the Exchange Act would not be voted in favor of approving the business combination transaction). The Company will have until 18 months from the closing of the Initial Public Offering, with one (1) three-month extension at the option of the sponsor (as may be extended by shareholder approval to amend our amended and restated memorandum and articles of association to extend the date by which the Company must consummate our initial business combination) or until such earlier liquidation date as our board of directors may approve, to consummate a Business Combination (the “Combination Period”). If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter (and subject to lawfully available funds therefor), redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account (which interest shall be net of taxes and less up to $100,000 of interest to pay dissolution expenses), divided by the number of then-outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in each case to our obligations under British Virgin Islands law to provide for claims of creditors and the requirements of other applicable law. The underwriter has agreed to waive its rights to the deferred underwriting commission held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($10.00). The Sponsor has agreed that it will be liable to us if and to the extent any claims by a third party for services rendered or products sold to us (except for the Company’s independent auditors), or a prospective target business with which the Company has entered into a written letter of intent, confidentiality or other similar agreement or business combination agreement, reduce the amount of funds in the trust account to below the lesser of (i) $10.00 per public share and (ii) the actual amount per public share held in the trust account as of the date of the liquidation of the trust account, if less than $10.00 per public share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the trust account (whether or not such waiver is enforceable) nor will it apply to any claims under our indemnity of the underwriters of our IPO against certain liabilities, including liabilities under the Securities Act. However, the Company has not asked our sponsor to reserve for such indemnification obligations, nor has the Company independently verified whether our sponsor has sufficient funds to satisfy its indemnity obligations and the Company believe that our sponsor’s only assets are securities of our company. Therefore, the Company cannot assure you that our sponsor would be able to satisfy those obligations. As a result, if any such claims were successfully made against the trust account, the funds available for our initial business combination and redemptions could be reduced to less than $10.00 per public share. In such event, the Company may not be able to complete our initial business combination, and you would receive such lesser amount per share in connection with any redemption of your public shares. None of our officers or directors will indemnify us for claims by third parties including, without limitation, claims by vendors and prospective target businesses. On January 11, 2026, D. Boral ARC Acquisition I Corp. (“BCAR” or the “Company”) entered into the Agreement and Plan of Merger (the “Merger Agreement”) by and among BCAR, D. Boral ARC Merger Corporation, a Delaware corporation and wholly owned subsidiary of BCAR (“PubCo”), D. Boral Arc Merger Sub Inc. (“Merger Sub”), a Delaware corporation and a wholly-owned subsidiary of BCAR, and Exascale Labs Inc., a Delaware corporation (“Exascale”). Pursuant to the Merger Agreement, the Business Combination will be effected in two steps: (i) BCAR will reincorporate in the State of Delaware by merging with and into PubCo, with PubCo remaining as the surviving publicly traded entity (the “Reincorporation Merger”); (ii) after the Reincorporation Merger, Merger Sub will be merged with and into Exascale, resulting in Exascale being a wholly owned subsidiary of PubCo (the “Acquisition Merger” and together with the Reincorporation Merger, the “Business Combination”). The aggregate consideration for the Acquisition Merger is $500,000,000 (the “Merger Consideration”), payable in the form of 50,000,000 newly issued shares of common stock of PubCo valued at $10.00 per share to Exascale and its shareholders. At the closing of the Acquisition Merger (the “Closing”), the issued and outstanding shares in Exascale held by the former Exascale shareholders will be cancelled and cease to exist as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td> <td style="width: 0.25in; text-align: left">●</td> <td style="text-align: justify">Each issued and outstanding share of Exascale Class B common stock shall be cancelled and converted into the right to receive a number of shares of PubCo Class B common stock (the “PubCo Class B Shares”) equal to the quotient obtained by dividing (a) the quotient equal to the Merger Consideration divided by the fully diluted Exascale capitalization (the “Per Share Merger Consideration”) by (b) Ten Dollars ($10.00), with each such PubCo Class B Share having twenty (20) votes per share; and</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td> <td style="width: 0.25in; text-align: left">●</td> <td style="text-align: justify">Each issued and outstanding share of Exascale Class A common stock shall be cancelled and converted into the right to receive a number of shares of PubCo Class A common stock (the “PubCo Class A Shares”) equal to the quotient obtained by dividing (a) the Per Share Merger Consideration by (b) Ten Dollars ($10.00), with each such PubCo Class A Share having one (1) vote per share.</td> </tr> </table> Liquidity, Capital Resources and Going Concern Consideration As of December 31, 2025, the Company had $420,340 of cash in its operating bank account and working capital of $585,863. The Company’s liquidity needs prior to the consummation of the Initial Public Offering were satisfied through the payment of $25,000 from the Sponsor to cover for certain offering costs on the Company’s behalf in exchange for issuance of Founder Shares (as defined in Note 4), and loan from the Sponsor of $225,461 under the Note (as defined in Note 4). On August 1, 2025, the Company has repaid $225,461 under the promissory note. Subsequent to the consummation of the Initial Public Offering, the Company’s liquidity has been satisfied through the net proceeds from the consummation of the Initial Public Offering and the Private Placement held outside of the Trust Account. In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans (as defined in Note 4). As of December 31, 2025, there were no amounts outstanding under any Working Capital Loan. The Company expects to incur significant costs in pursuit of its acquisition plans and will not generate any operating revenues until after the completion of its initial business combination. In addition, the Company expects to have negative cash flows from operations as it pursues an initial business combination target. In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern” the Company does not currently have adequate liquidity to sustain operations, which consist solely of pursuing a Business Combination. The Company may raise additional capital through loans or additional investments from the Sponsor or its shareholders, officers, directors, or third parties. The Company’s officers and directors and the Sponsor may, but are not obligated to (except as described above), loan the Company funds, from time to time, in whatever amount they deem reasonable in their sole discretion, to meet the Company’s working capital needs. As is customary for a special purpose acquisition company, if the Company is not able to consummate a Business Combination during the Combination Period, it will cease all operations and redeem the Public Shares. Management plans to continue its efforts to consummate a Business Combination during the Combination Period. While the Company expects to have access to additional sources of capital if necessary, there is no current commitment on the part of any financing source to provide additional capital and no assurances can be provided that such additional capital will ultimately be available. The liquidity condition and mandatory liquidation raise substantial doubt about the Company’s ability to continue as a going concern until the earlier of the consummation of the Business Combination or the date the Company is required to liquidate. There is no assurance that the Company’s plans to raise additional capital (to the extent ultimately necessary) or to consummate a Business Combination will be successful or successful within the Combination Period. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

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25000

225461

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC. Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The consolidated financial statements as of December 31, 2025 and for period from March 20, 2025 (inception) through December 31, 2025 are audited. In the opinion of management, the consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary to provide a fair statement of the results for the periods. Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents are carried at cost, which approximates fair value. The Company had $420,340 in cash as of December 31, 2025 The Company had no cash equivalents as of December 31, 2025. Cash Held in Trust Account The Company had $284,776,628 of cash in the trust account held in an interest bearing demand deposit account as of December 31, 2025. Offering Costs Associated with the Initial Public Offering The Company complies with the requirements of the ASC 340-10-S99 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A — “Expenses of Offering.” Deferred offering costs consist principally of professional and registration fees that are related to the Initial Public Offering. Financial Accounting Standards Board (“FASB”) ASC 470-20, “Debt with Conversion and Other Options,” addresses the allocation of proceeds from the issuance of convertible debt into its equity and debt components. The Company applies this guidance to allocate Initial Public Offering proceeds from the Public Units between Class A ordinary shares and warrants based on their relative fair values. Offering costs allocated to the Class A ordinary shares subject to possible redemption were charged to temporary equity, and offering costs allocated to the warrants included in the Public Units and Private Units were charged to shareholder’s equity as the warrants, after management’s evaluation, were accounted for under equity treatment. As of August 1, 2025, the Company had offering costs of $3,582,634, consisting of $2,419,400 of the Representative Shares (as discussed in Note 1) and $1,163,234 of other offering costs. Approximately $143,775 of such costs were allocated to the Public Warrants and the Private Placement Units and the remainder, approximately $3,438,859 was allocated to Class A ordinary shares subject to redemption. As of December 31, 2025, the Company had offering costs of $3,582,634. Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the consolidated financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the consolidated financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined the British Virgin Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits as of December 31, 2025 and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is considered to be an exempted British Virgin Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the British Virgin Islands or the United States. As such, the provision for income taxes was deemed to be de minimis for the period from March 20, 2025 (inception) to December 31, 2025. Derivative Financial Instruments The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging.” For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether or not net cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date. The underwriters’ over-allotment option is deemed to be a freestanding financial instrument indexed to the contingently redeemable shares and was accounted for as a liability pursuant to ASC 480 if not fully exercised at the time of the Initial Public Offering. Warrant Instruments We account for Warrants as either equity-classified or liability-classified instruments based on an assessment of the instruments’ specific terms and applicable authoritative guidance in ASC 480 and FASB ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the instruments are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the instruments meet all of the requirements for equity classification under ASC 815, including whether the instruments are indexed to a company’s common shares and whether the instrument holders could potentially require “net cash settlement” in a circumstance outside of a company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of Warrant issuance and as of each subsequent quarterly period end date while the instruments are outstanding. Upon review of the Warrant Agreement, Management concluded that the public warrants and private warrants issued pursuant to such warrant agreement qualify for equity accounting treatment. Following the closing of the Initial Public Offering on August 1, 2025 and underwriter’s exercise of over-allotment option on August 13, 2025, the Company accounted for the 14,000,000 public warrants and 100,000 private warrants issued under equity treatment at their assigned values. Class A Ordinary Shares Subject to Possible Redemption The public shares contain a redemption feature which allows for the redemption of such public shares in connection with the Company’s liquidation, or if there is a shareholder vote or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99, the Company classifies public shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent available) and Retained earnings. Accordingly, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet. As of December 31, 2025, the 28,000,000 Class A ordinary shares subject to redemption reflected in the balance sheet are reconciled in the following table: <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--TemporaryEquityTableTextBlock_zVfvDHTKPgS5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Schedule of ordinary shares subject to redemption</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left">Gross proceeds from IPO, August 1, 2025</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_98E_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iS_c20250729__20250801_zEj8Ob8odz8i" style="width: 9%; text-align: right" title="Ordinary shares subject to possible redemption">280,000,000</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Less:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Proceeds allocated to Public Warrants</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_ecustom--ProceedsAllocatedToPublicWarrants_c20250729__20250801_zwiCSzj66j13" style="text-align: right" title="Proceeds allocated to Public Warrants">(9,028,600</td> <td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Proceeds allocated to Over-allotment Option</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_981_ecustom--ProceedsAllocatedToOverallotmentOption_c20250729__20250801_zAI6P0Z0dh1d" style="text-align: right" title="Proceeds allocated to Over-allotment Option">(1,290,375</td> <td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Class A ordinary shares issuance costs</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_ecustom--ClassOrdinarySharesIssuanceCosts_c20250729__20250801_zjcqbyFW6iYb" style="text-align: right" title="Class A ordinary shares issuance costs">(3,438,859</td> <td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Plus:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Accretion of carrying value to redemption value</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20250729__20250801_zgRVqjR9gACc" style="border-bottom: Black 1pt solid; text-align: right" title="Ordinary shares subject to possible redemption">18,534,462</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Class A ordinary shares subject to possible redemption, December 31, 2025</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_984_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iE_c20250729__20250801_zvuZwKSPt6af" style="border-bottom: Black 2.5pt double; text-align: right" title="Ordinary shares subject to possible redemption">284,776,628</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Net Income per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net income per share of ordinary shares is computed by dividing net income applicable to ordinary shareholders by the weighted average number of shares of ordinary shares outstanding during the period. The Company has not considered the effect of the Warrants sold in the Offering and Private Placement to purchase an aggregate of 14,100,000 Class A ordinary shares in the calculation of diluted income per share, since their inclusion would be anti-dilutive under the treasury stock method and are contingent on future events. As a result, diluted income per share of Class A ordinary shares is the same as basic income per share of ordinary shares for the period presented. The Company has two classes of ordinary shares, which are referred to as Class A ordinary shares and Class B ordinary shares. Income are shared pro rata among the two classes of ordinary shares. Net income per share of ordinary shares is calculated by dividing the net income by the weighted average number of shares of ordinary shares outstanding during the respective period. The following tables reflect the net income per share after allocating income between the shares based on outstanding shares: <table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_z520VXStY255" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Schedule of earning per share basic and diluted</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_49F_20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zrqArIY7Wfm1" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_490_20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zBHL34K08eV3" style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Period from March 20, 2025 (Inception) through December 31, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_ecustom--NumeratorAbstract_iB_zZOgeTHwEdp" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left">Numerator:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--BasicAndDilutedNetIncomePerShareAbstract_iB_z78ckBNYmg55" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Basic and diluted net income per share:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_zr8a63T41NLb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 76%; font-weight: bold; text-align: left">Allocation of income – basic and diluted</td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td style="width: 9%; font-weight: bold; text-align: right">2,509,890</td> <td style="width: 1%; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td style="width: 9%; font-weight: bold; text-align: right">1,946,080</td> <td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DenominatorAbstract_iB_zi7FSA1rKk8j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left">Denominator:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Basic and diluted weighted average share of ordinary shares:</td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zh1JCc8BQUm8" title="Weighted average shares of Class A ordinary shares outstanding, basic"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zhTrtXXBoj36" title="Weighted average shares of Class A ordinary shares outstanding, diluted">15,393,007</td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zgcKwaB9TxI9" title="Weighted average shares of Class B ordinary shares outstanding, basic"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zEvvbbyVkx2a" title="Weighted average shares of Class B ordinary shares outstanding, diluted">11,935,190</td> <td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Basic and diluted net income per share</td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td style="font-weight: bold; text-align: right"><span id="xdx_909_eus-gaap--EarningsPerShareBasic_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zie2wuF9fIFa" title="Class A ordinary shares - basic net income per share"><span id="xdx_90E_eus-gaap--EarningsPerShareDiluted_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zmPmjYe9aXZe" title="Class A ordinary shares - diluted net income per share">0.16</td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td style="font-weight: bold; text-align: right"><span id="xdx_90E_eus-gaap--EarningsPerShareBasic_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zSyNmHfrJEyg" title="Class B ordinary shares - basic net income per share"><span id="xdx_906_eus-gaap--EarningsPerShareDiluted_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_z5khfq1W4K26" title="Class B ordinary shares - diluted net income per share">0.16</td> <td style="font-weight: bold; text-align: left"> </td></tr> </table> Concentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. At December 31, 2025, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account. Fair value of financial instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature. Risks and Uncertainties The United States and global markets are experiencing volatility and disruption following the geopolitical instability resulting from the ongoing Russia-Ukraine conflict and the recent escalation of the Israel-Hamas conflict. In response to the ongoing Russia-Ukraine conflict, the North Atlantic Treaty Organization (“NATO”) deployed additional military forces to eastern Europe, and the United States, the United Kingdom, the European Union and other countries have announced various sanctions and restrictive actions against Russia, Belarus and related individuals and entities, including the removal of certain financial institutions from the Society for Worldwide Interbank Financial Telecommunication payment system. Certain countries, including the United States, have also provided and may continue to provide military aid or other assistance to Ukraine and to Israel, increasing geopolitical tensions among a number of nations. The invasion of Ukraine by Russia and the escalation of the Israel-Hamas conflict and the resulting measures that have been taken, and could be taken in the future, by NATO, the United States, the United Kingdom, the European Union, Israel and its neighboring states and other countries have created global security concerns that could have a lasting impact on regional and global economies. Although the length and impact of the ongoing conflicts are highly unpredictable, they could lead to market disruptions, including significant volatility in commodity prices, credit and capital markets, as well as supply chain interruptions and increased cyber-attacks against U.S. companies. Additionally, any resulting sanctions could adversely affect the global economy and financial markets and lead to instability and lack of liquidity in capital markets. Any of the above-mentioned factors, or any other negative impact on the global economy, capital markets or other geopolitical conditions resulting from the Russian invasion of Ukraine, the escalation of the Israel-Hamas conflict and subsequent sanctions or related actions, could adversely affect the Company’s search for an initial Business Combination and any target business with which the Company may ultimately consummate an initial Business Combination. Recent Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires the disclosure of additional segment information. ASU No. 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company adopted ASU 2023-07 as of the inception of the Company. Adoption of the ASU did not impact the Company’s financial position, results of operations or cash flows. In December 2023, the FASB issued ASU 2023-09, Income taxes (Topic 740): Improvements to Income Tax Disclosure (“ASU 2023-09”), which enhances the transparency and usefulness of income tax disclosures. ASU 2023-09 will be effective for fiscal years beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company adopted ASU 2023-09 as of the inception of the Company. Adoption of the ASU did not impact the Company’s financial position, results of operations or cash flows.

Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC. Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The consolidated financial statements as of December 31, 2025 and for period from March 20, 2025 (inception) through December 31, 2025 are audited. In the opinion of management, the consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary to provide a fair statement of the results for the periods.

Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents are carried at cost, which approximates fair value. The Company had $420,340 in cash as of December 31, 2025 The Company had no cash equivalents as of December 31, 2025.

420340

Cash Held in Trust Account The Company had $284,776,628 of cash in the trust account held in an interest bearing demand deposit account as of December 31, 2025.

284776628

Offering Costs Associated with the Initial Public Offering The Company complies with the requirements of the ASC 340-10-S99 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A — “Expenses of Offering.” Deferred offering costs consist principally of professional and registration fees that are related to the Initial Public Offering. Financial Accounting Standards Board (“FASB”) ASC 470-20, “Debt with Conversion and Other Options,” addresses the allocation of proceeds from the issuance of convertible debt into its equity and debt components. The Company applies this guidance to allocate Initial Public Offering proceeds from the Public Units between Class A ordinary shares and warrants based on their relative fair values. Offering costs allocated to the Class A ordinary shares subject to possible redemption were charged to temporary equity, and offering costs allocated to the warrants included in the Public Units and Private Units were charged to shareholder’s equity as the warrants, after management’s evaluation, were accounted for under equity treatment. As of August 1, 2025, the Company had offering costs of $3,582,634, consisting of $2,419,400 of the Representative Shares (as discussed in Note 1) and $1,163,234 of other offering costs. Approximately $143,775 of such costs were allocated to the Public Warrants and the Private Placement Units and the remainder, approximately $3,438,859 was allocated to Class A ordinary shares subject to redemption. As of December 31, 2025, the Company had offering costs of $3,582,634.

3582634

2419400 1163234

143775

3438859

3582634

Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the consolidated financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the consolidated financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined the British Virgin Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits as of December 31, 2025 and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is considered to be an exempted British Virgin Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the British Virgin Islands or the United States. As such, the provision for income taxes was deemed to be de minimis for the period from March 20, 2025 (inception) to December 31, 2025.

Derivative Financial Instruments The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging.” For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether or not net cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date. The underwriters’ over-allotment option is deemed to be a freestanding financial instrument indexed to the contingently redeemable shares and was accounted for as a liability pursuant to ASC 480 if not fully exercised at the time of the Initial Public Offering.

Warrant Instruments We account for Warrants as either equity-classified or liability-classified instruments based on an assessment of the instruments’ specific terms and applicable authoritative guidance in ASC 480 and FASB ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the instruments are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the instruments meet all of the requirements for equity classification under ASC 815, including whether the instruments are indexed to a company’s common shares and whether the instrument holders could potentially require “net cash settlement” in a circumstance outside of a company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of Warrant issuance and as of each subsequent quarterly period end date while the instruments are outstanding. Upon review of the Warrant Agreement, Management concluded that the public warrants and private warrants issued pursuant to such warrant agreement qualify for equity accounting treatment. Following the closing of the Initial Public Offering on August 1, 2025 and underwriter’s exercise of over-allotment option on August 13, 2025, the Company accounted for the 14,000,000 public warrants and 100,000 private warrants issued under equity treatment at their assigned values.

14000000

100000

Class A Ordinary Shares Subject to Possible Redemption The public shares contain a redemption feature which allows for the redemption of such public shares in connection with the Company’s liquidation, or if there is a shareholder vote or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99, the Company classifies public shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent available) and Retained earnings. Accordingly, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet. As of December 31, 2025, the 28,000,000 Class A ordinary shares subject to redemption reflected in the balance sheet are reconciled in the following table: <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--TemporaryEquityTableTextBlock_zVfvDHTKPgS5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Schedule of ordinary shares subject to redemption</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left">Gross proceeds from IPO, August 1, 2025</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_98E_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iS_c20250729__20250801_zEj8Ob8odz8i" style="width: 9%; text-align: right" title="Ordinary shares subject to possible redemption">280,000,000</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Less:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Proceeds allocated to Public Warrants</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_ecustom--ProceedsAllocatedToPublicWarrants_c20250729__20250801_zwiCSzj66j13" style="text-align: right" title="Proceeds allocated to Public Warrants">(9,028,600</td> <td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Proceeds allocated to Over-allotment Option</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_981_ecustom--ProceedsAllocatedToOverallotmentOption_c20250729__20250801_zAI6P0Z0dh1d" style="text-align: right" title="Proceeds allocated to Over-allotment Option">(1,290,375</td> <td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Class A ordinary shares issuance costs</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_ecustom--ClassOrdinarySharesIssuanceCosts_c20250729__20250801_zjcqbyFW6iYb" style="text-align: right" title="Class A ordinary shares issuance costs">(3,438,859</td> <td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Plus:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Accretion of carrying value to redemption value</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20250729__20250801_zgRVqjR9gACc" style="border-bottom: Black 1pt solid; text-align: right" title="Ordinary shares subject to possible redemption">18,534,462</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Class A ordinary shares subject to possible redemption, December 31, 2025</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_984_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iE_c20250729__20250801_zvuZwKSPt6af" style="border-bottom: Black 2.5pt double; text-align: right" title="Ordinary shares subject to possible redemption">284,776,628</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--TemporaryEquityTableTextBlock_zVfvDHTKPgS5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Schedule of ordinary shares subject to redemption</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left">Gross proceeds from IPO, August 1, 2025</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_98E_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iS_c20250729__20250801_zEj8Ob8odz8i" style="width: 9%; text-align: right" title="Ordinary shares subject to possible redemption">280,000,000</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Less:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Proceeds allocated to Public Warrants</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_ecustom--ProceedsAllocatedToPublicWarrants_c20250729__20250801_zwiCSzj66j13" style="text-align: right" title="Proceeds allocated to Public Warrants">(9,028,600</td> <td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Proceeds allocated to Over-allotment Option</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_981_ecustom--ProceedsAllocatedToOverallotmentOption_c20250729__20250801_zAI6P0Z0dh1d" style="text-align: right" title="Proceeds allocated to Over-allotment Option">(1,290,375</td> <td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Class A ordinary shares issuance costs</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_982_ecustom--ClassOrdinarySharesIssuanceCosts_c20250729__20250801_zjcqbyFW6iYb" style="text-align: right" title="Class A ordinary shares issuance costs">(3,438,859</td> <td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Plus:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Accretion of carrying value to redemption value</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20250729__20250801_zgRVqjR9gACc" style="border-bottom: Black 1pt solid; text-align: right" title="Ordinary shares subject to possible redemption">18,534,462</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Class A ordinary shares subject to possible redemption, December 31, 2025</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_984_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iE_c20250729__20250801_zvuZwKSPt6af" style="border-bottom: Black 2.5pt double; text-align: right" title="Ordinary shares subject to possible redemption">284,776,628</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

280000000

-9028600 -1290375 -3438859

18534462

284776628

Net Income per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net income per share of ordinary shares is computed by dividing net income applicable to ordinary shareholders by the weighted average number of shares of ordinary shares outstanding during the period. The Company has not considered the effect of the Warrants sold in the Offering and Private Placement to purchase an aggregate of 14,100,000 Class A ordinary shares in the calculation of diluted income per share, since their inclusion would be anti-dilutive under the treasury stock method and are contingent on future events. As a result, diluted income per share of Class A ordinary shares is the same as basic income per share of ordinary shares for the period presented. The Company has two classes of ordinary shares, which are referred to as Class A ordinary shares and Class B ordinary shares. Income are shared pro rata among the two classes of ordinary shares. Net income per share of ordinary shares is calculated by dividing the net income by the weighted average number of shares of ordinary shares outstanding during the respective period. The following tables reflect the net income per share after allocating income between the shares based on outstanding shares: <table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_z520VXStY255" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Schedule of earning per share basic and diluted</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_49F_20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zrqArIY7Wfm1" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_490_20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zBHL34K08eV3" style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Period from March 20, 2025 (Inception) through December 31, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_ecustom--NumeratorAbstract_iB_zZOgeTHwEdp" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left">Numerator:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--BasicAndDilutedNetIncomePerShareAbstract_iB_z78ckBNYmg55" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Basic and diluted net income per share:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_zr8a63T41NLb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 76%; font-weight: bold; text-align: left">Allocation of income – basic and diluted</td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td style="width: 9%; font-weight: bold; text-align: right">2,509,890</td> <td style="width: 1%; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td style="width: 9%; font-weight: bold; text-align: right">1,946,080</td> <td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DenominatorAbstract_iB_zi7FSA1rKk8j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left">Denominator:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Basic and diluted weighted average share of ordinary shares:</td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zh1JCc8BQUm8" title="Weighted average shares of Class A ordinary shares outstanding, basic"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zhTrtXXBoj36" title="Weighted average shares of Class A ordinary shares outstanding, diluted">15,393,007</td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zgcKwaB9TxI9" title="Weighted average shares of Class B ordinary shares outstanding, basic"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zEvvbbyVkx2a" title="Weighted average shares of Class B ordinary shares outstanding, diluted">11,935,190</td> <td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Basic and diluted net income per share</td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td style="font-weight: bold; text-align: right"><span id="xdx_909_eus-gaap--EarningsPerShareBasic_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zie2wuF9fIFa" title="Class A ordinary shares - basic net income per share"><span id="xdx_90E_eus-gaap--EarningsPerShareDiluted_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zmPmjYe9aXZe" title="Class A ordinary shares - diluted net income per share">0.16</td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td style="font-weight: bold; text-align: right"><span id="xdx_90E_eus-gaap--EarningsPerShareBasic_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zSyNmHfrJEyg" title="Class B ordinary shares - basic net income per share"><span id="xdx_906_eus-gaap--EarningsPerShareDiluted_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_z5khfq1W4K26" title="Class B ordinary shares - diluted net income per share">0.16</td> <td style="font-weight: bold; text-align: left"> </td></tr> </table>

14100000

<table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_z520VXStY255" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Schedule of earning per share basic and diluted</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_49F_20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zrqArIY7Wfm1" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_490_20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zBHL34K08eV3" style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Period from March 20, 2025 (Inception) through December 31, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_ecustom--NumeratorAbstract_iB_zZOgeTHwEdp" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left">Numerator:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--BasicAndDilutedNetIncomePerShareAbstract_iB_z78ckBNYmg55" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Basic and diluted net income per share:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_zr8a63T41NLb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 76%; font-weight: bold; text-align: left">Allocation of income – basic and diluted</td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td style="width: 9%; font-weight: bold; text-align: right">2,509,890</td> <td style="width: 1%; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td style="width: 9%; font-weight: bold; text-align: right">1,946,080</td> <td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DenominatorAbstract_iB_zi7FSA1rKk8j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left">Denominator:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Basic and diluted weighted average share of ordinary shares:</td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zh1JCc8BQUm8" title="Weighted average shares of Class A ordinary shares outstanding, basic"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zhTrtXXBoj36" title="Weighted average shares of Class A ordinary shares outstanding, diluted">15,393,007</td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zgcKwaB9TxI9" title="Weighted average shares of Class B ordinary shares outstanding, basic"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zEvvbbyVkx2a" title="Weighted average shares of Class B ordinary shares outstanding, diluted">11,935,190</td> <td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Basic and diluted net income per share</td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td style="font-weight: bold; text-align: right"><span id="xdx_909_eus-gaap--EarningsPerShareBasic_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zie2wuF9fIFa" title="Class A ordinary shares - basic net income per share"><span id="xdx_90E_eus-gaap--EarningsPerShareDiluted_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zmPmjYe9aXZe" title="Class A ordinary shares - diluted net income per share">0.16</td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td style="font-weight: bold; text-align: right"><span id="xdx_90E_eus-gaap--EarningsPerShareBasic_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zSyNmHfrJEyg" title="Class B ordinary shares - basic net income per share"><span id="xdx_906_eus-gaap--EarningsPerShareDiluted_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_z5khfq1W4K26" title="Class B ordinary shares - diluted net income per share">0.16</td> <td style="font-weight: bold; text-align: left"> </td></tr> </table>

2509890

1946080

15393007

11935190

0.16

Concentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. At December 31, 2025, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.

250000

Fair value of financial instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.

Risks and Uncertainties The United States and global markets are experiencing volatility and disruption following the geopolitical instability resulting from the ongoing Russia-Ukraine conflict and the recent escalation of the Israel-Hamas conflict. In response to the ongoing Russia-Ukraine conflict, the North Atlantic Treaty Organization (“NATO”) deployed additional military forces to eastern Europe, and the United States, the United Kingdom, the European Union and other countries have announced various sanctions and restrictive actions against Russia, Belarus and related individuals and entities, including the removal of certain financial institutions from the Society for Worldwide Interbank Financial Telecommunication payment system. Certain countries, including the United States, have also provided and may continue to provide military aid or other assistance to Ukraine and to Israel, increasing geopolitical tensions among a number of nations. The invasion of Ukraine by Russia and the escalation of the Israel-Hamas conflict and the resulting measures that have been taken, and could be taken in the future, by NATO, the United States, the United Kingdom, the European Union, Israel and its neighboring states and other countries have created global security concerns that could have a lasting impact on regional and global economies. Although the length and impact of the ongoing conflicts are highly unpredictable, they could lead to market disruptions, including significant volatility in commodity prices, credit and capital markets, as well as supply chain interruptions and increased cyber-attacks against U.S. companies. Additionally, any resulting sanctions could adversely affect the global economy and financial markets and lead to instability and lack of liquidity in capital markets. Any of the above-mentioned factors, or any other negative impact on the global economy, capital markets or other geopolitical conditions resulting from the Russian invasion of Ukraine, the escalation of the Israel-Hamas conflict and subsequent sanctions or related actions, could adversely affect the Company’s search for an initial Business Combination and any target business with which the Company may ultimately consummate an initial Business Combination.

Recent Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires the disclosure of additional segment information. ASU No. 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company adopted ASU 2023-07 as of the inception of the Company. Adoption of the ASU did not impact the Company’s financial position, results of operations or cash flows. In December 2023, the FASB issued ASU 2023-09, Income taxes (Topic 740): Improvements to Income Tax Disclosure (“ASU 2023-09”), which enhances the transparency and usefulness of income tax disclosures. ASU 2023-09 will be effective for fiscal years beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company adopted ASU 2023-09 as of the inception of the Company. Adoption of the ASU did not impact the Company’s financial position, results of operations or cash flows.

NOTE 3. INITIAL PUBLIC OFFERING On August 1, 2025, the Company consummated its Initial Public Offering of <span id="xdx_907_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zhdjRGaw7Vb2" title="Sale of units in initial public offering">25,000,000 Units, at $10.00 per Unit, generating gross proceeds of $<span id="xdx_907_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zpLASxhqFqFi" title="Sale of units in initial public offering aggragate amount">250,000,000. The Company granted the underwriter a 45-day option to purchase up to an additional <span id="xdx_904_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zMO9TfSVWgVh" title="Sale of units in initial public offering">3,750,000 Units at the Initial Public Offering price to cover over-allotments, if any. On August 11, 2025, the underwriters of the IPO notified the Company of their partial exercise of the over-allotment option and purchased <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250802__20250811__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zr7zNGMOmgC7" title="Sale of units in initial public offering">3,000,000 additional units (the “Option Units”) at $10.00 per unit upon the closing of the over-allotment option, generating gross proceeds of $<span id="xdx_901_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20250802__20250811__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zFUtvv3pmH9i" title="Sale of units in initial public offering aggragate amount">30,000,000. On September 9, 2025, the Underwriters advised the Company that it has elected not to exercise the remaining over-allotment option and thereby forfeit the option. Each Unit consists of one Ordinary Share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment.

25000000

10.00

250000000

3750000

3000000

10.00

30000000

11.50

NOTE 4. PRIVATE PLACEMENT Simultaneously with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zQY230e434ae" title="Sale of units in initial public offering">200,000 Private Units at a price of $10.00 per Placement Unit raising $<span id="xdx_90A_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zHR2jKfCMcgj" title="Sale of units in initial public offering aggragate amount">2,000,000 in the aggregate. The proceeds from the sale of the Private Units were added to the net proceeds from the Offering held in the Trust Account. The Placement Units are identical to the Units sold in the Initial Public Offering, as described in Note 7. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private Units will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Warrants will expire worthless.

200000

10.00

2000000

NOTE 5. RELATED PARTY TRANSACTIONS Founder Shares On March 25, 2025, the Company issued an aggregate of 12,321,429 founder shares to the Sponsor for an aggregate purchase price of $25,000 in cash. The funds were received on May 27, 2025. Following the partial exercise of the over-allotment option on August 11, 2025, on September 9, 2025, the Underwriters advised the Company that it has elected not to exercise the remaining over-allotment option and thereby forfeit the option. As a result, on September 9, 2025, the Company cancelled a total of 321,429 founder shares. As of December 31, 2025, sponsor held a total of <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_c20250320__20251231__us-gaap--StatementEquityComponentsAxis__custom--FounderMember_zBBACanRdoNg" title="Forfeiture shares">12,000,000 founder shares and none was subject to forfeiture. The founder shares are designated as Class B ordinary shares and, except as described below, are identical to the Class A ordinary shares included in the units being sold in the IPO, and holders of founder shares have the same shareholder rights as public shareholders, except that (i) the founder shares are subject to certain transfer restrictions, as described in more detail below, (ii) the founder shares are entitled to registration rights; (iii) our sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to (A) waive their redemption rights with respect to their founder shares, private shares and public shares in connection with the completion of our initial business combination, (B) waive their redemption rights with respect to their founder shares, private shares and public shares in connection with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association (a) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we have not consummated an initial business combination within the completion window or (b) with respect to any other material provisions relating to shareholders’ rights or pre-initial business combination activity, (C) waive their rights to liquidating distributions from the trust account with respect to their founder shares and private shares if we fail to complete our initial business combination within the completion window, although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within such time period and to liquidating distributions from assets outside the trust account and (D) vote any founder shares held by them and any public shares they may purchase (including in open market and privately-negotiated transactions) in favor of our initial business combination (except that any public shares such parties may purchase in compliance with the requirements of Rule 14e-5 under the Exchange Act would not be voted in favor of approving the business combination transaction), (iv) the founder shares are automatically convertible into Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination or earlier at the option of the holder on a one-for-one basis, subject to adjustment as described herein and in our amended and restated memorandum and articles of association, and (v) prior to the closing of our initial business combination, only holders of our Class B ordinary shares will be entitled to vote on the appointment and removal of directors or continuing the company in a jurisdiction outside the British Virgin Islands (including any ordinary resolution required to amend our constitutional documents or to adopt new constitutional documents, in each case, as a result of our approving a transfer by way of continuation in a jurisdiction outside the British Virgin Islands). With certain limited exceptions, the founder shares are not transferable, assignable or saleable (except to our officers and directors and other persons or entities affiliated with our sponsor, each of whom will be subject to the same transfer restrictions) until the completion of our initial business combination. Promissory Note – Related Party On March 20, 2025, the Sponsor issued an unsecured promissory note to the Company, pursuant to which the Company may borrow up to an aggregate principal amount of $350,000, to be used for payment of costs related to the Proposed Offering. The note is non-interest bearing and payable on the earlier of (i) December 31, 2025 or (ii) the consummation of the Initial Public Offering. On August 1, 2025, the Company has repaid $<span id="xdx_901_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_c20250729__20250801__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_z35fw13DFGX" title="Repayment of promissory note">225,461 under the promissory note with the Sponsor out of the $<span id="xdx_90B_eus-gaap--PaymentsForRepurchaseOfInitialPublicOffering_c20250729__20250801__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_z9SyennbMOHh" title="Payment of offering expenses">700,000 of offering proceeds that has been allocated for the payment of offering expenses. Administrative Services Arrangement An affiliate of our Sponsor has agreed, commencing from the date that the Company’s securities are first listed on Nasdaq, through the earlier of the Company’s consummation of a Business Combination and its liquidation, to make available to the Company our Sponsor certain office space, utilities and secretarial and administrative support as may be reasonably required by the Company. The Company has agreed to pay to the affiliate of our Sponsor, $20,000 per month, for up to 18 months, subject to extension to up to 21 months, for such administrative services. For the period from March 20, 2025 (inception) to December 31, 2025, $100,000 was charged to operations and no amounts were outstanding at December 31, 2025. Related Party Loans In order to finance transaction costs in connection with a Business Combination, the Company’s Sponsor or an affiliate of the Sponsor, or the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). Up to $2,500,000 of such loans may be convertible into private units, at a price of $10.00 per unit, at the option of the applicable lender. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans, but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. As of December 31, 2025, no amounts under such loans have been drawn. Representative Shares On August 1, 2025, the Company issued 1,000,000 representative shares to D. Boral Capital, LLC and/or its designees (whether or not the over-allotment is exercised) as part of representative compensation (the “Representative Shares”). The Representative Shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the commencement of sales of the IPO pursuant to FINRA Rule 5110(e)(1). Pursuant to this FINRA lock-up, these securities cannot be sold, transferred, assigned, pledged or hypothecated or the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period of 180 days from the commencement of sales of the Initial Public Offering except as permitted under FINRA Rule 5110(e)(2), including to any underwriter and selected dealer participating in the Initial Public Offering and their officers or partners, registered persons or affiliates. The Representative Shares have resale registration rights including two demand (one at the Company’s expense and one at D. Boral Capital, LLC’s expense) and unlimited “piggy-back” rights for periods of five and seven years, respectively, from the commencement of sales of the Initial Public Offering.

12321429

25000

321429

12000000

350000

225461

700000

20000

100000

2500000

10.00

1000000

NOTE 6. COMMITMENTS AND CONTINGENCIES Registration Rights The holders of the (i) founder shares, which were issued in a private placement prior to the closing of the initial public offering, (ii) Private Units (including the component securities as well as any securities underlying those component securities), which was issued in a private placement simultaneously with the closing of the initial public offering and (iii) private units (including the component securities as well as any securities underlying those component securities) that may be issued upon conversion of working capital loans will have registration rights to require the Company to register a sale of any of our securities held by them and any other securities of the company acquired by them prior to the consummation of a Business Combination pursuant to a registration rights agreement to be signed prior to or on the effective date of the initial public offering. The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of the Business Combination. The registration rights granted to the underwriter are limited to two demand (one at the Company’s expense and one at D. Boral Capital, LLC’s expense) and unlimited “piggy-back” rights for periods of five and seven years, respectively, from the commencement of sales of the Initial Public Offering. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The Company has granted the underwriters a 45-day option to purchase up to <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20250320__20251231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zG3L4Ni20BPg" title="Option granted">3,750,000 additional Units to cover over-allotments at the Initial Public Offering price, less the underwriting discounts and commissions. On August 11, 2025, the underwriters of the IPO notified the Company of their partial exercise of the over-allotment option and purchased <span id="xdx_90D_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250802__20250811__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zaJ0TVJjoRil" title="Sale of units in initial public offering">3,000,000 additional units (the “Option Units”) at $10.00 per unit upon the closing of the over-allotment option, generating gross proceeds of $<span id="xdx_909_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20250802__20250811__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zjbtt5lr7nle" title="Sale of units in initial public offering aggragate amount">30,000,000. On September 9, 2025, the Underwriters advised the Company that it has elected not to exercise the remaining over-allotment option and thereby forfeit the option. The underwriters were not entitled to any cash underwriting fee at closing of the Initial Public Offering. The underwriters were entitled to <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250320__20251231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember_zZmkiDbppzfk" title="Number of share issued">1,000,000 Representative Shares (whether or not the over-allotment is exercised) at closing of the Initial Public Offering. The underwriters will not be entitled to any deferred underwriting fee upon closing of the Business Combination.

3750000

3000000

10.00

30000000

1000000

NOTE 7. STOCKHOLDER’S EQUITY Preference shares — The Company is authorized to issue 5,000,000 preference shares with a par value of $0.0001 per share. Holders of the Company’s ordinary shares are entitled to one vote for each share. On December 31, 2025, there were no preferred shares issued or outstanding. Class A Ordinary shares — The Company is authorized to issue 500,000,000 ordinary shares with a par value of $0.0001 per share. Holders of the Company’s ordinary shares are entitled to one vote for each share. As a result of closing of the IPO and the partial exercise of the over-allotment option partial exercise of the over-allotment option, there were 1,200,000 Class A ordinary shares issued or outstanding, excluding <span id="xdx_90C_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iI_c20251231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesMember_znQaetdcYTWe" title="Ordinary shares subject to possible redemption">28,000,000 Class A ordinary shares subject to possible redemption. Class B Ordinary shares — The Company is authorized to issue 50,000,000 ordinary shares with a par value of $0.0001 per share. Holders of the Company’s ordinary shares are entitled to one vote for each share. On March 25, 2025, the Company issued an aggregate of 12,321,429 ordinary shares to the Sponsor for an aggregate purchase price of $25,000 in cash, of which <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20250301__20250325__us-gaap--StatementEquityComponentsAxis__custom--ClassAOrdinarySharesMember_zoFkkEB7QD6h">1,607,143 shares held by the Sponsor are subject to forfeiture to the extent that the underwriter’s over-allotment option is not exercised in full. Following the partial exercise of the over-allotment option on August 11, 2025 and cancellation 321,429 ordinary shares on September 9, 2025, on December 31, 2025, there were 12,000,000 ordinary shares issued and outstanding. The Class B ordinary shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination, or at any time prior thereto at the option of the holder thereof, on a one-for-one basis, subject to adjustment as provided herein. Because our sponsor acquired the Class B ordinary shares at a nominal price, our public shareholders will incur an immediate and substantial dilution upon the closing of the IPO, assuming no value is ascribed to the warrants included in the units. In the case that additional Class A ordinary shares, or equity-linked securities (as described herein), are issued or deemed issued in excess of the amounts issued in the IPO and related to the closing of our initial business combination, the ratio at which the Class B ordinary shares will convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the issued and outstanding Class B ordinary shares agree to waive such anti-dilution adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 30% of the sum of (i) the total number of all Class A ordinary shares outstanding upon the completion of the IPO (including any Class A ordinary shares issued pursuant to the underwriters’ over-allotment option and excluding the Class A ordinary shares that are included within the private units), plus (ii) all Class A ordinary shares and equity-linked securities issued or deemed issued, in connection with the closing of the initial business combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the initial business combination and any units issued to our sponsor or any of its affiliates or to our officers or directors upon conversion of working capital loans) minus (iii) any redemptions of Class A ordinary shares by public shareholders in connection with an initial business combination; provided that such conversion of founder shares will never occur on a less than one-for-one basis. Holders of record of the Company’s Class A ordinary shares and Class B ordinary shares are entitled to one vote for each share held on all matters to be voted on by shareholders. Unless specified in the amended and restated memorandum and articles of association or as required by the Companies Act or stock exchange rules, an ordinary resolution under British Virgin Islands law and the amended and restated memorandum and articles of association, which requires the affirmative vote of at least a majority of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting of the company is generally required to approve any matter voted on by the Company’s shareholders. Approval of certain actions require an ordinary resolution under British Virgin Islands law, which (except as specified below) requires the affirmative vote of in excess of 50 percent of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting, and pursuant to the Company’s amended and restated memorandum and articles of association, such actions include amending the amended and restated memorandum and articles of association and approving a statutory merger or consolidation with another company. There is no cumulative voting with respect to the appointment of directors, meaning, following the Company’s initial Business Combination, the holders of more than 50% of the ordinary shares voted for the appointment of directors can elect all of the directors. Prior to the consummation of the initial Business Combination, only holders of the Class B ordinary shares will (i) have the right to vote on the appointment and removal of directors and (ii) be entitled to vote on continuing the Company in a jurisdiction outside the British Virgin Islands (including any ordinary resolution required to amend the constitutional documents or to adopt new constitutional documents, in each case, as a result of approving a transfer by way of continuation in a jurisdiction outside the British Virgin Islands). Holders of the Class A ordinary shares will not be entitled to vote on these matters during such time. These provisions of our amended and restated memorandum and articles of association may only be amended if approved by an ordinary resolution passed by the affirmative vote of the holders representing at least 90% of the issued Class B ordinary shares. Warrants — Warrants may only be exercised for a whole number of shares. No fractional shares will be issued upon exercise of the Warrants. The Warrants will become exercisable 30 days after the completion of our initial business combination, provided that the Company has an effective registration statement under the Securities Act covering the Class A ordinary shares issuable upon exercise of the warrants and a current prospectus relating to them is available and such shares are registered, qualified or exempt from registration under the securities, or blue sky, laws of the state of residence of the holder (or we permit holders to exercise their warrants on a cashless basis under the circumstances specified in the warrant agreement). If a registration statement covering the Class A ordinary shares issuable upon exercise of the warrants is not effective by the 60th business day after the closing of our initial business combination, warrant holders may, until such time as there is an effective registration statement and during any period when we will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if our Class A ordinary shares are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, we may, at our option, require holders of public warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event we so elect, we will not be required to file or maintain in effect a registration statement. The Warrants will expire five years from the consummation of a Business Combination or earlier upon redemption or liquidation. The Company may call the Warrants for redemption: <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">in whole and not in part;</td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">at a price of $0.01 per warrant; upon a minimum of 30 days’ prior written notice of redemption (the “30-day redemption period”); and</td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">if, and only if, the closing price of the Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant) for any 20 trading days within a 30-trading day period commencing at least 30 days after completion of our initial business combination and ending three business days before we send the notice of redemption to the warrant holders.</td> </tr> </table> The private warrants are identical to the warrants sold in the IPO except that, so long as they are held by our sponsor or its permitted transferees, the private warrants (i) are locked-up until the completion of our initial business combination and (ii) will be entitled to registration rights. The exercise price and number of ordinary shares issuable upon exercise of the warrants may be adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like. Additionally, in no event will the Company be required to net cash settle the warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such warrants. Accordingly, the warrants may expire worthless. The exercise price is $11.50 per share, subject to adjustment as described herein. In addition, if (x) we issue additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of our initial business combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by our board of directors and, in the case of any such issuance to our initial shareholders or their affiliates, without taking into account any founder shares held by our initial shareholders or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our initial business combination on the date of the consummation of our initial business combination (net of redemptions), and (z) the volume weighted average trading price of our Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which we consummate our initial business combination (such price, the “Market Value”) is below $9.20 per share, then the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger prices will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price.

5000000

0.0001

500000000

0.0001

1200000

28000000

50000000

0.0001

12321429

25000

1607143

321429

12000000

one-for-one basis

P30D

0.01

P30D

18.00

P20D P30D P20D

9.20

1.15

18.00

1.80

NOTE 8. FAIR VALUE MEASUREMENTS The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. Level 3: Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability. The following table presents information about the Company’s assets that are measured at fair value as of August 1, 2025 and December 31, 2025, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_z1sEFvFPQZT6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Schedule of fair value assets and liabilities</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">August 1, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Liability:</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 76%; text-align: left">Fair value of over-allotment liability</td> <td style="width: 1%"> </td> <td style="width: 10%; text-align: center">3</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_98D_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0p0_c20250801__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zeLO1OrFkPve" style="width: 9%; text-align: right" title="Liability">1,290,375</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Equity:</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Fair value of Public Warrants for Class A ordinary shares subject to possible redemption allocation</td> <td> </td> <td style="text-align: center">3</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left">$</td> <td id="xdx_986_eus-gaap--EquityFairValueDisclosure_iI_pp0p0_c20250801__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z9w3BzZ6zio4" style="text-align: right" title="Equity">8,061,250</td> <td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> December 31, 2025</td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Asset:</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Cash held in trust</td> <td style="width: 1%"> </td> <td style="width: 10%; text-align: center">1</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zC8MCzPdwvxi" style="width: 9%; text-align: right" title="Assets">284,776,628</td> <td style="width: 1%; text-align: left"> </td></tr> </table> The over-allotment option was accounted for as a liability in accordance with ASC 815-40 and was presented within liabilities on the balance sheet. The over-allotment option liability is measured at fair value at August 1, 2025 and on a recurring basis, with changes in fair value presented within change in fair value of over-allotment option liability in the statement of operations. The Company used a Black-Scholes model to value the over-allotment option. The over-allotment option liability was classified within Level 3 of the fair value hierarchy at the measurement dates due to the use of unobservable inputs inherent in pricing models and assumptions related to expected share-price volatility, expected life and risk-free interest rate. The Company estimates the volatility of its ordinary share based on historical volatility that matches the expected remaining life of the over-allotment option. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the grant date for a maturity similar to the expected remaining life of the over-allotment option. The expected life of the over-allotment option is assumed to be equivalent to its remaining contractual term. The key inputs into the Black-Scholes model were as follows at initial measurement of the over-allotment option: <table cellpadding="0" cellspacing="0" id="xdx_891_ecustom--OnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zdaerHOKwdh2" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Schedule of initial measurement</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">August 1, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left">Risk-free interest rate</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">4.31</td> <td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Expected term (years)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">0.12</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Expected volatility</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">22.7</td> <td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Exercise price</td> <td> </td> <td style="text-align: left">$</td> <td style="text-align: right">10.00</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Fair value of over-allotment option</td> <td> </td> <td style="text-align: left">$</td> <td style="text-align: right">0.3441</td> <td style="text-align: left"> </td></tr> </table> The fair value of Public Warrants was determined using Monte Carlo Simulation Model. The Public Warrants have been classified within shareholders’ equity and will not require remeasurement after issuance. The following table presents the quantitative information regarding market assumptions used in the valuation of the Public Warrants: <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_z5eyfE5u1Pl7" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Schedule of market assumptions</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">August 1, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left">Estimated share price</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_988_eus-gaap--SharePrice_iI_c20250801__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zIHKeChUCkpi" style="width: 9%; text-align: right" title="Estimated share price">9.68</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Exercise price</td> <td> </td> <td style="text-align: left">$</td> <td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_c20250801__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zCKpGuVJ9aof" style="text-align: right" title="Exercise Price">11.50</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Term (years)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20250729__20250801__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zTBEKR6Lowsd" title="Term (years)">2.75</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Annual risk-free rate (term-matched)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20250729__20250801__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zHnrt6dGla6e" title="Annual risk-free rate (term-matched)">3.75</td> <td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Expected warrant implied volatility based on warrants from comparable SPAC securities</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20250729__20250801__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zVt8eebcWNq1" title="Expected warrant implied volatility based on warrants from comparable SPAC securities">14.44</td> <td style="text-align: left">%</td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_z1sEFvFPQZT6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Schedule of fair value assets and liabilities</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">August 1, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Liability:</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 76%; text-align: left">Fair value of over-allotment liability</td> <td style="width: 1%"> </td> <td style="width: 10%; text-align: center">3</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_98D_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0p0_c20250801__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zeLO1OrFkPve" style="width: 9%; text-align: right" title="Liability">1,290,375</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left">Equity:</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Fair value of Public Warrants for Class A ordinary shares subject to possible redemption allocation</td> <td> </td> <td style="text-align: center">3</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left">$</td> <td id="xdx_986_eus-gaap--EquityFairValueDisclosure_iI_pp0p0_c20250801__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z9w3BzZ6zio4" style="text-align: right" title="Equity">8,061,250</td> <td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> December 31, 2025</td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Asset:</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Cash held in trust</td> <td style="width: 1%"> </td> <td style="width: 10%; text-align: center">1</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zC8MCzPdwvxi" style="width: 9%; text-align: right" title="Assets">284,776,628</td> <td style="width: 1%; text-align: left"> </td></tr> </table>

1290375

8061250

284776628

<table cellpadding="0" cellspacing="0" id="xdx_891_ecustom--OnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zdaerHOKwdh2" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Schedule of initial measurement</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">August 1, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left">Risk-free interest rate</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">4.31</td> <td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Expected term (years)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">0.12</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Expected volatility</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">22.7</td> <td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Exercise price</td> <td> </td> <td style="text-align: left">$</td> <td style="text-align: right">10.00</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Fair value of over-allotment option</td> <td> </td> <td style="text-align: left">$</td> <td style="text-align: right">0.3441</td> <td style="text-align: left"> </td></tr> </table>

0.0431

P0Y1M13D

0.227

10.00

0.3441

<table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_z5eyfE5u1Pl7" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Schedule of market assumptions</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">August 1, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left">Estimated share price</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_988_eus-gaap--SharePrice_iI_c20250801__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zIHKeChUCkpi" style="width: 9%; text-align: right" title="Estimated share price">9.68</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Exercise price</td> <td> </td> <td style="text-align: left">$</td> <td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_c20250801__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zCKpGuVJ9aof" style="text-align: right" title="Exercise Price">11.50</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Term (years)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20250729__20250801__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zTBEKR6Lowsd" title="Term (years)">2.75</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Annual risk-free rate (term-matched)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20250729__20250801__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zHnrt6dGla6e" title="Annual risk-free rate (term-matched)">3.75</td> <td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Expected warrant implied volatility based on warrants from comparable SPAC securities</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20250729__20250801__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zVt8eebcWNq1" title="Expected warrant implied volatility based on warrants from comparable SPAC securities">14.44</td> <td style="text-align: left">%</td></tr> </table>

9.68

11.50

P2Y9M

0.0375

0.1444

NOTE 9. SEGMENT INFORMATION ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance. The Company’s chief operating decision maker has been identified as the Chief Financial Officer (“CODM”), who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one operating segment. When evaluating the Company’s performance and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following: <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zt9zhkJ0Zaa3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SEGMENT INFORMATION (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Schedule of segment information</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_490_20250320__20251231_zpQe7sMgoHN7" style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Period from March 20, 2025 (inception) through December 31, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingExpenses_iN_di_z1fW8wPeoygj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left; padding-bottom: 2.5pt">Formation and operating costs</td> <td style="width: 1%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; width: 9%; text-align: right">(320,658</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--InterestIncomeOther_zEm74eB7Es8g" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Interest income on cash held in trust account</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">4,776,628</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--CashHeldInTrustAccounts_zAv8BysoiEm1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Cash held in Trust Account</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">284,776,628</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The key measures of segment profit or loss reviewed by the CODM are formation and operating costs, interest income on cash held in trust account, and cash held in trust account. The CODM reviews interest earned on cash or investments held in Trust Account to measure and monitor shareholder value and determine the most effective strategy of investment with the Trust Account funds while maintaining compliance with the trust agreement. Within the operating expenses, the CODM specifically reviews professional service fees, which are a significant segment expense, and include legal fees and advisory fees. These expenses are monitored to manage and forecast cash available to complete a Business Combination within the required period. Other general and administrative expenses, including accounting expenses, printing expenses, and regulatory filing fees, are reviewed in the aggregate to ensure alignment with budget and contractual obligations. Funds invested in the Trust Account represent the predominant portion of the Company’s total assets and are monitored by the CODM to determine the most effective strategy of investment with the Trust Account funds, while maintaining compliance with the trust agreement.

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NOTE 10. SUBSEQUENT EVENTS In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before consolidated financial statements are issued, the Company has evaluated all events or transactions that occurred up to the date the consolidated financial statements were available to issue. Based upon this review, the Company identified the following subsequent events: On January 11, 2026, D. Boral ARC Acquisition I Corp. (“BCAR” or the “Company”) entered into the Agreement and Plan of Merger (the “Merger Agreement”) by and among BCAR, D. Boral ARC Merger Corporation, a Delaware corporation and wholly owned subsidiary of BCAR (“PubCo”), D. Boral Arc Merger Sub Inc. (“Merger Sub”), a Delaware corporation and a wholly-owned subsidiary of BCAR, and Exascale Labs Inc., a Delaware corporation (“Exascale”). Pursuant to the Merger Agreement, the Business Combination will be effected in two steps: (i) BCAR will reincorporate in the State of Delaware by merging with and into PubCo, with PubCo remaining as the surviving publicly traded entity (the “Reincorporation Merger”); (ii) after the Reincorporation Merger, Merger Sub will be merged with and into Exascale, resulting in Exascale being a wholly owned subsidiary of PubCo (the “Acquisition Merger” and together with the Reincorporation Merger, the “Business Combination”).

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NOTE 1. DESCRIPTION OF ORGANIZATION, BUSINESS OPERATIONS D. BORAL ARC ACQUISITION I CORP. (the “Company”) is a blank check company incorporated in the British Virgin Islands on March 20, 2025. The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (“Business Combination”). While the Company may pursue an acquisition opportunity in any business, industry, sector or geographical location, the Company intends to focus on industries that complement our management team’s background, and to capitalize on the ability of our management team to identify and acquire a business. At June 30, 2026, the Company had not yet commenced any operations. All activity through June 30, 2026 related to the Company’s formation and the Initial Public Offering (as defined below). Since the IPO, the Company’s activity has been limited to the costs in pursuit of the consummation of an initial business combination. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies. The Company’s sponsor is MFH 1, LLC (the “Sponsor”). The registration statement for the Company’s Initial Public Offering was declared effective on July 30, 2025. On August 1, 2025, the Company consummated its Initial Public Offering of <span id="xdx_900_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zZC60ip9O139" title="Sale of units in initial public offering">25,000,000 units (the “Units” and, with respect to the Class A Ordinary Shares included in the Units being offered, the “Public Shares”), at $10.00 per Unit, generating gross proceeds of $<span id="xdx_90C_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zjX8VKK92qjd" title="Sale of units in initial public offering aggragate amount">250,000,000 (the “Initial Public Offering”). The Company granted the underwriter a 45-day option to purchase up to an additional <span id="xdx_901_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_z9eUpL924fa5" title="Sale of units in initial public offering">3,750,000 Units at the Initial Public Offering price to cover over-allotments, if any. Simultaneously with the consummation of the closing of the Offering, the Company consummated the private placement of an aggregate of <span id="xdx_90C_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zGrtbDdoicDg" title="Sale of units in initial public offering">200,000 units (the “Placement Units”) to the Sponsor at a price of $10.00 per Unit, generating gross proceeds of $<span id="xdx_90A_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zm3i9GAh1wZ" title="Sale of units in initial public offering aggragate amount">2,000,000 (the “Private Placement”). (see Note 4). Transaction costs amounted to $3,582,634, consisting of $2,419,400 of the Representative Shares (discussed in the below) and $1,163,234 of other offering costs. In conjunction with the IPO, the Company issued to the underwriter <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember_zC8C67MdLPre" title="Number of share issued">1,000,000 Class A ordinary shares for no consideration (the “Representative Shares”). The fair value of the Representative Shares accounted for as compensation under Accounting Standards Codification (“ASC”) 718, “Compensation – Stock Compensation” (“ASC 718”) is included in the offering costs. The estimated fair value of the Representative Shares as of the IPO date totaled $<span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember_zHyEfQAcbCTg" title="Number of share issued, value">2,419,400. Following the closing of the Initial Public Offering on August 1, 2025, an amount of $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember_ziUw4vAAKbAd" title="proceeds from sale of initial public offering">250,000,000 ($10.00 per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and a portion of the proceeds from the sale of the Placement Units was placed in a trust account (the “Trust Account”), located in the United States and held as cash items and will be invested only in U.S. government securities with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act, that invest only in direct U.S. government treasury obligations; the holding of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended business combination. To mitigate the risk that the Company might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer that the Company hold investments in the trust account, the Company may, at any time (based on our management team’s ongoing assessment of all factors related to our potential status under the Investment Company Act), instruct the trustee to liquidate the investments held in the trust account and instead to hold the funds in the trust account in cash or in an interest bearing demand deposit account at a bank. On August 11, 2025, the underwriters of the IPO notified the Company of their partial exercise of the over-allotment option and purchased <span id="xdx_90A_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250802__20250811__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zJQr08Hr1169" title="Sale of units in initial public offering">3,000,000 additional units (the “Option Units”) at $10.00 per unit upon the closing of the over-allotment option, generating gross proceeds of $<span id="xdx_90C_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20250802__20250811__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zwO1mOZUQPp7" title="Sale of units in initial public offering aggragate amount">30,000,000. The over-allotment option closed on August 13, 2025. On September 9, 2025, the Underwriters advised the Company that it has elected not to exercise the remaining over-allotment option and thereby forfeit the option. As a result, on September 9, 2025, the Company cancelled a total of 321,429 of the Company’s founder shares, issued to MFH 1, LLC thereby reducing the sponsor’s total shares to 12,000,000, which was effective from August 1, 2025. The Company will provide its public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of our initial business combination either (i) in connection with a shareholder meeting called to approve the initial business combination or (ii) by means of a tender offer. In connection with a proposed Business Combination, the Company may seek shareholder approval of a Business Combination at a meeting called for such purpose at which shareholders may seek to redeem their shares, regardless of how they vote for the Business Combination. The shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially $10.00 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations). The per-share amount to be distributed to shareholders who redeem their Public Shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriter. These ordinary shares was recorded at a redemption value and classified as temporary equity upon the completion of the Initial Public Offering, in accordance with Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” If a shareholder vote is not required and the Company does not decide to hold a shareholder vote for business or other reasons, the Company will, pursuant to its amended and restated memorandum and articles of association conduct the redemptions pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, which regulate issuer tender offers, and file tender offer documents with the SEC prior to completing our initial business combination which contain substantially the same financial and other information about the initial business combination and the redemption rights as is required under Regulation 14A of the Exchange Act, which regulates the solicitation of proxies. The sponsor, officers and directors have entered into a letter agreement with the Company, pursuant to which they have agreed to (i) waive their redemption rights with respect to their founder shares, private shares and public shares in connection with the completion of our initial business combination; (ii) waive their redemption rights with respect to their founder shares, private shares and public shares in connection with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association; (iii) waive their rights to liquidating distributions from the trust account with respect to their founder shares and private shares if the Company fail to complete our initial business combination within the completion window, although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if the Company fail to complete our initial business combination within the prescribed time frame and to liquidating distributions from assets outside the trust account; and (iv) vote any founder shares and private shares held by them and any public shares they may purchase (including in open market and privately-negotiated transactions) in favor of our initial business combination (except that any public shares such parties may purchase in compliance with the requirements of Rule 14e-5 under the Exchange Act would not be voted in favor of approving the business combination transaction). The Company will have until 18 months from the closing of the Initial Public Offering, with one (1) three-month extension at the option of the sponsor (as may be extended by shareholder approval to amend our amended and restated memorandum and articles of association to extend the date by which the Company must consummate our initial business combination) or until such earlier liquidation date as our board of directors may approve, to consummate a Business Combination (the “Combination Period”). If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter (and subject to lawfully available funds therefor), redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account (which interest shall be net of taxes and less up to $100,000 of interest to pay dissolution expenses), divided by the number of then-outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, liquidate and dissolve, subject in each case to our obligations under British Virgin Islands law to provide for claims of creditors and the requirements of other applicable law. The underwriter has agreed to waive its rights to the deferred underwriting commission held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($10.00). The Sponsor has agreed that it will be liable to us if and to the extent any claims by a third party for services rendered or products sold to us (except for the Company’s independent auditors), or a prospective target business with which the Company has entered into a written letter of intent, confidentiality or other similar agreement or business combination agreement, reduce the amount of funds in the trust account to below the lesser of (i) $10.00 per public share and (ii) the actual amount per public share held in the trust account as of the date of the liquidation of the trust account, if less than $10.00 per public share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the trust account (whether or not such waiver is enforceable) nor will it apply to any claims under our indemnity of the underwriters of our IPO against certain liabilities, including liabilities under the Securities Act. However, the Company has not asked our sponsor to reserve for such indemnification obligations, nor has the Company independently verified whether our sponsor has sufficient funds to satisfy its indemnity obligations and the Company believe that our sponsor’s only assets are securities of our company. Therefore, the Company cannot assure you that our sponsor would be able to satisfy those obligations. As a result, if any such claims were successfully made against the trust account, the funds available for our initial business combination and redemptions could be reduced to less than $10.00 per public share. In such event, the Company may not be able to complete our initial business combination, and you would receive such lesser amount per share in connection with any redemption of your public shares. None of our officers or directors will indemnify us for claims by third parties including, without limitation, claims by vendors and prospective target businesses. On January 11, 2026, D. Boral ARC Acquisition I Corp. (“BCAR” or the “Company”) entered into the Agreement and Plan of Merger (the “Merger Agreement”) by and among BCAR, D. Boral ARC Merger Corporation, a Delaware corporation and wholly owned subsidiary of BCAR (“PubCo”), D. Boral Arc Merger Sub Inc. (“Merger Sub”), a Delaware corporation and a wholly-owned subsidiary of BCAR, and Exascale Labs Inc., a Delaware corporation (“Exascale”). Pursuant to the Merger Agreement, the Business Combination will be effected in two steps: (i) BCAR will reincorporate in the State of Delaware by merging with and into PubCo, with PubCo remaining as the surviving publicly traded entity (the “Reincorporation Merger”); (ii) after the Reincorporation Merger, Merger Sub will be merged with and into Exascale, resulting in Exascale being a wholly owned subsidiary of PubCo (the “Acquisition Merger” and together with the Reincorporation Merger, the “Business Combination”). The aggregate consideration for the Acquisition Merger is $500,000,000 (the “Merger Consideration”), payable in the form of 50,000,000 newly issued shares of common stock of PubCo valued at $10.00 per share to Exascale and its shareholders. At the closing of the Acquisition Merger (the “Closing”), the issued and outstanding shares in Exascale held by the former Exascale shareholders will be cancelled and cease to exist as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px; font-size: 10pt">●</td> <td style="font-size: 10pt; text-align: justify">Each issued and outstanding share of Exascale Class B common stock shall be cancelled and converted into the right to receive a number of shares of PubCo Class B common stock (the “PubCo Class B Shares”) equal to the quotient obtained by dividing (a) the quotient equal to the Merger Consideration divided by the fully diluted Exascale capitalization (the “Per Share Merger Consideration”) by (b) Ten Dollars ($10.00), with each such PubCo Class B Share having twenty (20) votes per share; and</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px; font-size: 10pt">●</td> <td style="font-size: 10pt; text-align: justify">Each issued and outstanding share of Exascale Class A common stock shall be cancelled and converted into the right to receive a number of shares of PubCo Class A common stock (the “PubCo Class A Shares”) equal to the quotient obtained by dividing (a) the Per Share Merger Consideration by (b) Ten Dollars ($10.00), with each such PubCo Class A Share having one (1) vote per share.</td></tr> </table> Liquidity, Capital Resources and Going Concern Consideration As of June 30, 2026, the Company had $41,733 of cash in its operating bank account and working capital deficit of $618,911. The Company’s liquidity needs prior to the consummation of the Initial Public Offering were satisfied through the payment of $<span id="xdx_904_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20260101__20260630__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zgFTmzm5fIYd" title="Proceeds from issuance of common stock">25,000 from the Sponsor to cover for certain offering costs on the Company’s behalf in exchange for issuance of Founder Shares (as defined in Note 4), and loan from the Sponsor of $225,461 under the Note (as defined in Note 4). On August 1, 2025, the Company has repaid $<span id="xdx_903_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_c20250729__20250801__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zL71zekeZW5i" title="Repayment of promissory note">225,461 under the promissory note. Subsequent to the consummation of the Initial Public Offering, the Company’s liquidity has been satisfied through the net proceeds from the consummation of the Initial Public Offering and the Private Placement held outside of the Trust Account. In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans (as defined in Note 4). As of December 31, 2025 and June 30, 2026, there were no amounts outstanding under any Working Capital Loan. The Company expects to incur significant costs in pursuit of its acquisition plans and will not generate any operating revenues until after the completion of its initial business combination. In addition, the Company expects to have negative cash flows from operations as it pursues an initial business combination target. In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern” the Company does not currently have adequate liquidity to sustain operations, which consist solely of pursuing a Business Combination. The Company may raise additional capital through loans or additional investments from the Sponsor or its shareholders, officers, directors, or third parties. The Company’s officers and directors and the Sponsor may, but are not obligated to (except as described above), loan the Company funds, from time to time, in whatever amount they deem reasonable in their sole discretion, to meet the Company’s working capital needs. As is customary for a special purpose acquisition company, if the Company is not able to consummate a Business Combination during the Combination Period, it will cease all operations and redeem the Public Shares. Management plans to continue its efforts to consummate a Business Combination during the Combination Period. While the Company expects to have access to additional sources of capital if necessary, there is no current commitment on the part of any financing source to provide additional capital and no assurances can be provided that such additional capital will ultimately be available. In addition, the Company initially has until January 31, 2027 to consummate the initial Business Combination (assume no extensions). If the Company does not complete a Business Combination within the prescribed timeline, the Company will trigger an automatic winding up, dissolution and liquidation pursuant to the terms of the Amended and Restated Memorandum and Articles of Association. Notwithstanding management’s belief that the Company would have sufficient funds to execute its business strategy, there is a possibility that business combination might not happen within the 12-month period from the issuance date of these financial statements. In connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standard Board’s Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined that the mandatory liquidation, should a business combination not occur, and potential subsequent dissolution, raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, management has determined that such additional conditions raise substantial doubt about the Company’s ability to continue as a going concern until the earlier of the consummation of the Business Combination or the date the Company is required to liquidate.

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NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC. Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The interim financial statements as of June 30, 2026 and for the six months ended June 30, 2026 are unaudited. In the opinion of management, the condensed consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary to provide a fair statement of the results for the periods. The accompanying balance sheet as of December 31, 2025, is derived from the audited financial statements presented in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the condensed consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of six months or less to be cash equivalents. Cash equivalents are carried at cost, which approximates fair value. The Company had $420,340 and $41,733 in cash as of December 31, 2025 and June 30, 2026, respectively. The Company had no cash equivalents as of December 31, 2025 and June 30, 2026. Cash Held in Trust Account The Company had $284,776,628 and $289,883,138 of cash in the trust account held in an interest bearing demand deposit account as of December 31, 2025 and June 30, 2026, respectively. Offering Costs Associated with the Initial Public Offering The Company complies with the requirements of the ASC 340-10-S99 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A — “Expenses of Offering.” Deferred offering costs consist principally of professional and registration fees that are related to the Initial Public Offering. Financial Accounting Standards Board (“FASB”) ASC 470-20, “Debt with Conversion and Other Options,” addresses the allocation of proceeds from the issuance of convertible debt into its equity and debt components. The Company applies this guidance to allocate Initial Public Offering proceeds from the Public Units between Class A ordinary shares and warrants based on their relative fair values. Offering costs allocated to the Class A ordinary shares subject to possible redemption were charged to temporary equity, and offering costs allocated to the warrants included in the Public Units and Private Units were charged to shareholder’s equity as the warrants, after management’s evaluation, were accounted for under equity treatment. As of August 1, 2025, the Company had offering costs of $3,582,634, consisting of $2,419,400 of the Representative Shares (as discussed in Note 1) and $1,163,234 of other offering costs. Approximately $143,775 of such costs were allocated to the Public Warrants and the Private Placement Units and the remainder, approximately $3,438,859 was allocated to Class A ordinary shares subject to redemption. As of December 31, 2025, the Company had offering costs of $3,582,634. Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the consolidated financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the consolidated financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined the British Virgin Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits as of June 30, 2026 and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is considered to be an exempted British Virgin Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the British Virgin Islands or the United States. As such, the provision for income taxes was deemed to be de minimis for the three and six months ended June 30, 2026. Warrant Instruments We account for Warrants as either equity-classified or liability-classified instruments based on an assessment of the instruments’ specific terms and applicable authoritative guidance in ASC 480 and FASB ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the instruments are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the instruments meet all of the requirements for equity classification under ASC 815, including whether the instruments are indexed to a company’s common shares and whether the instrument holders could potentially require “net cash settlement” in a circumstance outside of a company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of Warrant issuance and as of each subsequent quarterly period end date while the instruments are outstanding. Upon review of the Warrant Agreement, Management concluded that the public warrants and private warrants issued pursuant to such warrant agreement qualify for equity accounting treatment. Following the closing of the Initial Public Offering on August 1, 2025 and underwriter’s exercise of over-allotment option on August 13, 2025, the Company accounted for the 14,000,000 public warrants and 100,000 private warrants issued under equity treatment at their assigned values. Class A Ordinary Shares Subject to Possible Redemption The public shares contain a redemption feature which allows for the redemption of such public shares in connection with the Company’s liquidation, or if there is a shareholder vote or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99, the Company classifies public shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent available) and Retained earnings. Accordingly, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet. As of June 30, 2026 and December 31,2025, the 28,000,000 Class A ordinary shares subject to redemption reflected in the balance sheet are reconciled in the following table: <table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--TemporaryEquityTableTextBlock_zI3yMm7Bm2me" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Schedule of ordinary shares subject to redemption</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Class A ordinary shares subject to possible redemption, December 31, 2025</td> <td> </td> <td style="text-align: left">$</td> <td id="xdx_980_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iS_c20260101__20260630_zUU3xDA47rrg" style="text-align: right">284,776,628</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Plus:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in; width: 88%; vertical-align: top">Accretion of carrying value to redemption value</td> <td style="padding-bottom: 1pt; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td> <td id="xdx_985_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20260101__20260630_zQPapygKmRAh" style="border-bottom: Black 1pt solid; width: 9%; text-align: right">5,106,510</td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Class A ordinary shares subject to possible redemption, June 30, 2026</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_98A_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iE_c20260101__20260630_ztZMKRJPEjKk" style="border-bottom: Black 2.5pt double; text-align: right">289,883,138</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Net Income/(Loss) per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net income per share of ordinary shares is computed by dividing net income applicable to ordinary shareholders by the weighted average number of shares of ordinary shares outstanding during the period. The Company has not considered the effect of the Warrants sold in the Offering and Private Placement to purchase an aggregate of 14,100,000 Class A ordinary shares in the calculation of diluted income per share, since their inclusion would be anti-dilutive under the treasury stock method and are contingent on future events. As a result, diluted income per share of Class A ordinary shares is the same as basic income per share of ordinary shares for the period presented. The Company has two classes of ordinary shares, which are referred to as Class A ordinary shares and Class B ordinary shares. Net income per share of ordinary shares is calculated by dividing the net income by the weighted average number of shares of ordinary shares outstanding during the respective period. The following tables reflect the net Income/(Loss) per share after allocating income between the shares based on outstanding shares: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left; padding-bottom: 1pt"> Schedule of earning per share basic and diluted</td> <td> </td> <td> </td> <td id="xdx_491_20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_z5B3PhrEyeZ7" style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td id="xdx_491_20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zYh10lZmGkXk" style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td id="xdx_499_20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zb7fHDf41lUl" style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td id="xdx_495_20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zMsLQdE3eVN4" style="text-align: right"> </td> <td> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_496_20250320__20250331__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zXH46hVPTeq6" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_496_20250320__20250331__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zKiWMX3euKUe" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_490_20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zaYwcybjZGG4" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_49D_20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zX5vWFXotAt9" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the three months ended June 30, 2026</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the three months ended June 30, 2025</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30, 2026</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the period from March 20, 2025 (Inception) through June 30, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class A</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class B</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class A</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class B</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_ecustom--NumeratorAbstract_iB_zOMAryYxr5c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left; padding-bottom: 1pt">Numerator:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--BasicAndDilutedNetIncomePerShareAbstract_iB_zX0XJO4PpsJk" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 1pt">Basic and diluted net income per share:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_zrMvCjToZ0la" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 28%; font-weight: bold; text-align: left; padding-bottom: 1pt">Allocation of Income/(Loss) – basic and diluted</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="text-align: right; width: 6%">1,339,811</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="text-align: right; width: 6%">550,607</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="text-align: right; width: 6%">- </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="text-align: right; width: 6%">(36,000</td> <td style="width: 1%">)</td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td style="width: 6%; font-weight: bold; text-align: right">2,765,308</td> <td style="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td style="width: 6%; font-weight: bold; text-align: right">1,136,428</td> <td style="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td style="width: 6%; font-weight: bold; text-align: right">-</td> <td style="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td style="width: 6%; font-weight: bold; text-align: right">(41,420</td> <td style="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left; padding-bottom: 1pt"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DenominatorAbstract_iB_zu55TiiQMEIe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left; padding-bottom: 1pt">Denominator:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 1pt">Basic and diluted weighted average share of ordinary shares:</td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zfkbjuE2HTv1" title="Weighted average shares of Class A ordinary shares outstanding, basic"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zotHc2DerU6k" title="Weighted average shares of Class A ordinary shares outstanding, diluted">29,200,000</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_z35GVJKgOpt" title="Weighted average shares of Class B ordinary shares outstanding, basic"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zP3aTwMdDQV9" title="Weighted average shares of Class B ordinary shares outstanding, diluted">12,000,000</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zagCMYdAdzgk" title="Weighted average shares of Class A ordinary shares outstanding, basic"><span id="xdx_90E_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zyL2bV3b5PRk" title="Weighted average shares of Class A ordinary shares outstanding, diluted">-</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zXr0eUmKlxTk" title="Weighted average shares of Class B ordinary shares outstanding, basic"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zoRbyBTQVmCb" title="Weighted average shares of Class B ordinary shares outstanding, diluted">12,000,000</td> <td> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zcCKKzK0cWV9" title="Weighted average shares of Class A ordinary shares outstanding, basic"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zOH8TbioosJd" title="Weighted average shares of Class A ordinary shares outstanding, diluted">29,200,000</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zhbiRPvokize" title="Weighted average shares of Class B ordinary shares outstanding, basic"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zhqvV3rpqj3a" title="Weighted average shares of Class B ordinary shares outstanding, diluted">12,000,000</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zEY9xVaPEFDg" title="Weighted average shares of Class A ordinary shares outstanding, basic"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zOGUjQ67l326" title="Weighted average shares of Class A ordinary shares outstanding, diluted">-</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_z7NkVhC1Buta" title="Weighted average shares of Class B ordinary shares outstanding, basic"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zugYfe4WNJza" title="Weighted average shares of Class B ordinary shares outstanding, diluted">12,000,000</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 1pt">Basic and diluted net income per share</td> <td> </td> <td>$</td> <td style="text-align: right"><span id="xdx_90C_eus-gaap--EarningsPerShareBasic_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zztK8z2kHEf1" title="Class A ordinary shares - basic net income per share"><span id="xdx_90A_eus-gaap--EarningsPerShareDiluted_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zMIoEmZWXWg3" title="Class A ordinary shares - diluted net income per share">0.05</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right"><span id="xdx_903_eus-gaap--EarningsPerShareBasic_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zT6X1p9OSb1c" title="Class B ordinary shares - basic net income per share"><span id="xdx_90B_eus-gaap--EarningsPerShareDiluted_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zi8XCs4uPaH3" title="Class B ordinary shares - basic net income per share">0.05</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right"><span id="xdx_90B_eus-gaap--EarningsPerShareBasic_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_z7rh3C1hJqLd" title="Class A ordinary shares - basic net income per share"><span id="xdx_904_eus-gaap--EarningsPerShareDiluted_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zvMKXNkdmV28" title="Class A ordinary shares - diluted net income per share">-</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right"><span id="xdx_908_eus-gaap--EarningsPerShareBasic_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zvdKajhTtz9l" title="Class B ordinary shares - basic net income per share"><span id="xdx_909_eus-gaap--EarningsPerShareDiluted_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_z7Ce9x8NJhJc" title="Class B ordinary shares - basic net income per share">(0.00</td> <td>)</td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td style="font-weight: bold; text-align: right"><span id="xdx_90A_eus-gaap--EarningsPerShareBasic_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zsJb4uB0A5Y7" title="Class A ordinary shares - basic net income per share"><span id="xdx_90E_eus-gaap--EarningsPerShareDiluted_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_ztqxMmGUi264" title="Class A ordinary shares - diluted net income per share">0.09</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--EarningsPerShareBasic_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zn2FyknbVaV4" title="Class B ordinary shares - basic net income per share"><span id="xdx_902_eus-gaap--EarningsPerShareDiluted_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zmgGGSnL3SV4" title="Class B ordinary shares - basic net income per share">0.09</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_903_eus-gaap--EarningsPerShareBasic_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zg4mlaOfUsAh" title="Class A ordinary shares - basic net income per share"><span id="xdx_901_eus-gaap--EarningsPerShareDiluted_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zaj1j1m5Tfw2" title="Class A ordinary shares - diluted net income per share">-</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right">(<span id="xdx_90A_eus-gaap--EarningsPerShareBasic_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zLUddHlB4pCe" title="Class B ordinary shares - basic net income per share"><span id="xdx_90D_eus-gaap--EarningsPerShareDiluted_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_za7RrUmJ0RJc" title="Class B ordinary shares - basic net income per share">0.00</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> </table> Concentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. At December 31, 2025 and June 30, 2026, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account. Fair value of financial instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature. Risks and Uncertainties The United States and global markets are experiencing volatility and disruption following the geopolitical instability resulting from the ongoing Russia-Ukraine conflict and the recent escalation of the Israel-Hamas conflict. In response to the ongoing Russia-Ukraine conflict, the North Atlantic Treaty Organization (“NATO”) deployed additional military forces to eastern Europe, and the United States, the United Kingdom, the European Union and other countries have announced various sanctions and restrictive actions against Russia, Belarus and related individuals and entities, including the removal of certain financial institutions from the Society for Worldwide Interbank Financial Telecommunication payment system. Certain countries, including the United States, have also provided and may continue to provide military aid or other assistance to Ukraine and to Israel, increasing geopolitical tensions among a number of nations. The invasion of Ukraine by Russia and the escalation of the Israel-Hamas conflict and the resulting measures that have been taken, and could be taken in the future, by NATO, the United States, the United Kingdom, the European Union, Israel and its neighboring states and other countries have created global security concerns that could have a lasting impact on regional and global economies. Although the length and impact of the ongoing conflicts are highly unpredictable, they could lead to market disruptions, including significant volatility in commodity prices, credit and capital markets, as well as supply chain interruptions and increased cyber-attacks against U.S. companies. Additionally, any resulting sanctions could adversely affect the global economy and financial markets and lead to instability and lack of liquidity in capital markets. Any of the above-mentioned factors, or any other negative impact on the global economy, capital markets or other geopolitical conditions resulting from the Russian invasion of Ukraine, the escalation of the Israel-Hamas conflict and subsequent sanctions or related actions, could adversely affect the Company’s search for an initial Business Combination and any target business with which the Company may ultimately consummate an initial Business Combination. Recent Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires the disclosure of additional segment information. ASU No. 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company adopted ASU 2023-07 as of the inception of the Company. Adoption of the ASU did not impact the Company’s financial position, results of operations or cash flows. In December 2023, the FASB issued ASU 2023-09, Income taxes (Topic 740): Improvements to Income Tax Disclosure (“ASU 2023-09”), which enhances the transparency and usefulness of income tax disclosures. ASU 2023-09 will be effective for fiscal years beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company adopted ASU 2023-09 as of the inception of the Company. Adoption of the ASU did not impact the Company’s financial position, results of operations or cash flows. In December 2025, the FASB issued ASU 2025-11 Interim Reporting (Topic 270): Narrow Scope Improvements (“ASU 2025-11”), to improve the guidance for interim reporting and clarify when that guidance is applicable. The ASU 2025-11 provides a comprehensive list of required disclosures and also requires entities to disclose events since the last annual reporting period that have a material impact on the entity. ASU 2025-11 is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027, for public business entities and for interim reporting periods within annual reporting periods beginning after December 15, 2028, for entities other than public business entities. Early adoption is permitted. Management is currently evaluating ASU 2025-11 to determine its impact on the Company’s disclosures. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC. Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The interim financial statements as of June 30, 2026 and for the six months ended June 30, 2026 are unaudited. In the opinion of management, the condensed consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary to provide a fair statement of the results for the periods. The accompanying balance sheet as of December 31, 2025, is derived from the audited financial statements presented in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the condensed consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of six months or less to be cash equivalents. Cash equivalents are carried at cost, which approximates fair value. The Company had $420,340 and $41,733 in cash as of December 31, 2025 and June 30, 2026, respectively. The Company had no cash equivalents as of December 31, 2025 and June 30, 2026.

420340

41733

Cash Held in Trust Account The Company had $284,776,628 and $289,883,138 of cash in the trust account held in an interest bearing demand deposit account as of December 31, 2025 and June 30, 2026, respectively.

284776628

289883138

Offering Costs Associated with the Initial Public Offering The Company complies with the requirements of the ASC 340-10-S99 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A — “Expenses of Offering.” Deferred offering costs consist principally of professional and registration fees that are related to the Initial Public Offering. Financial Accounting Standards Board (“FASB”) ASC 470-20, “Debt with Conversion and Other Options,” addresses the allocation of proceeds from the issuance of convertible debt into its equity and debt components. The Company applies this guidance to allocate Initial Public Offering proceeds from the Public Units between Class A ordinary shares and warrants based on their relative fair values. Offering costs allocated to the Class A ordinary shares subject to possible redemption were charged to temporary equity, and offering costs allocated to the warrants included in the Public Units and Private Units were charged to shareholder’s equity as the warrants, after management’s evaluation, were accounted for under equity treatment. As of August 1, 2025, the Company had offering costs of $3,582,634, consisting of $2,419,400 of the Representative Shares (as discussed in Note 1) and $1,163,234 of other offering costs. Approximately $143,775 of such costs were allocated to the Public Warrants and the Private Placement Units and the remainder, approximately $3,438,859 was allocated to Class A ordinary shares subject to redemption. As of December 31, 2025, the Company had offering costs of $3,582,634.

3582634

2419400 1163234

143775

3438859

3582634

Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the consolidated financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the consolidated financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined the British Virgin Islands is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits as of June 30, 2026 and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is considered to be an exempted British Virgin Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the British Virgin Islands or the United States. As such, the provision for income taxes was deemed to be de minimis for the three and six months ended June 30, 2026.

Warrant Instruments We account for Warrants as either equity-classified or liability-classified instruments based on an assessment of the instruments’ specific terms and applicable authoritative guidance in ASC 480 and FASB ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the instruments are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the instruments meet all of the requirements for equity classification under ASC 815, including whether the instruments are indexed to a company’s common shares and whether the instrument holders could potentially require “net cash settlement” in a circumstance outside of a company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of Warrant issuance and as of each subsequent quarterly period end date while the instruments are outstanding. Upon review of the Warrant Agreement, Management concluded that the public warrants and private warrants issued pursuant to such warrant agreement qualify for equity accounting treatment. Following the closing of the Initial Public Offering on August 1, 2025 and underwriter’s exercise of over-allotment option on August 13, 2025, the Company accounted for the 14,000,000 public warrants and 100,000 private warrants issued under equity treatment at their assigned values.

14000000

100000

Class A Ordinary Shares Subject to Possible Redemption The public shares contain a redemption feature which allows for the redemption of such public shares in connection with the Company’s liquidation, or if there is a shareholder vote or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99, the Company classifies public shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent available) and Retained earnings. Accordingly, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet. As of June 30, 2026 and December 31,2025, the 28,000,000 Class A ordinary shares subject to redemption reflected in the balance sheet are reconciled in the following table: <table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--TemporaryEquityTableTextBlock_zI3yMm7Bm2me" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Schedule of ordinary shares subject to redemption</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Class A ordinary shares subject to possible redemption, December 31, 2025</td> <td> </td> <td style="text-align: left">$</td> <td id="xdx_980_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iS_c20260101__20260630_zUU3xDA47rrg" style="text-align: right">284,776,628</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Plus:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in; width: 88%; vertical-align: top">Accretion of carrying value to redemption value</td> <td style="padding-bottom: 1pt; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td> <td id="xdx_985_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20260101__20260630_zQPapygKmRAh" style="border-bottom: Black 1pt solid; width: 9%; text-align: right">5,106,510</td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Class A ordinary shares subject to possible redemption, June 30, 2026</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_98A_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iE_c20260101__20260630_ztZMKRJPEjKk" style="border-bottom: Black 2.5pt double; text-align: right">289,883,138</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Net Income/(Loss) per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net income per share of ordinary shares is computed by dividing net income applicable to ordinary shareholders by the weighted average number of shares of ordinary shares outstanding during the period. The Company has not considered the effect of the Warrants sold in the Offering and Private Placement to purchase an aggregate of 14,100,000 Class A ordinary shares in the calculation of diluted income per share, since their inclusion would be anti-dilutive under the treasury stock method and are contingent on future events. As a result, diluted income per share of Class A ordinary shares is the same as basic income per share of ordinary shares for the period presented. The Company has two classes of ordinary shares, which are referred to as Class A ordinary shares and Class B ordinary shares. Net income per share of ordinary shares is calculated by dividing the net income by the weighted average number of shares of ordinary shares outstanding during the respective period. The following tables reflect the net Income/(Loss) per share after allocating income between the shares based on outstanding shares: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left; padding-bottom: 1pt"> Schedule of earning per share basic and diluted</td> <td> </td> <td> </td> <td id="xdx_491_20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_z5B3PhrEyeZ7" style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td id="xdx_491_20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zYh10lZmGkXk" style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td id="xdx_499_20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zb7fHDf41lUl" style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td id="xdx_495_20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zMsLQdE3eVN4" style="text-align: right"> </td> <td> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_496_20250320__20250331__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zXH46hVPTeq6" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_496_20250320__20250331__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zKiWMX3euKUe" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_490_20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassAMember_zaYwcybjZGG4" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_49D_20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinarySharesClassBMember_zX5vWFXotAt9" style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the three months ended June 30, 2026</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the three months ended June 30, 2025</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended June 30, 2026</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the period from March 20, 2025 (Inception) through June 30, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class A</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class B</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class A</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class B</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_ecustom--NumeratorAbstract_iB_zOMAryYxr5c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left; padding-bottom: 1pt">Numerator:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--BasicAndDilutedNetIncomePerShareAbstract_iB_zX0XJO4PpsJk" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 1pt">Basic and diluted net income per share:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_zrMvCjToZ0la" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 28%; font-weight: bold; text-align: left; padding-bottom: 1pt">Allocation of Income/(Loss) – basic and diluted</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="text-align: right; width: 6%">1,339,811</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="text-align: right; width: 6%">550,607</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="text-align: right; width: 6%">- </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="text-align: right; width: 6%">(36,000</td> <td style="width: 1%">)</td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td style="width: 6%; font-weight: bold; text-align: right">2,765,308</td> <td style="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td style="width: 6%; font-weight: bold; text-align: right">1,136,428</td> <td style="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td style="width: 6%; font-weight: bold; text-align: right">-</td> <td style="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td style="width: 6%; font-weight: bold; text-align: right">(41,420</td> <td style="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left; padding-bottom: 1pt"> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DenominatorAbstract_iB_zu55TiiQMEIe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; font-style: italic; text-align: left; padding-bottom: 1pt">Denominator:</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 1pt">Basic and diluted weighted average share of ordinary shares:</td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zfkbjuE2HTv1" title="Weighted average shares of Class A ordinary shares outstanding, basic"><span id="xdx_906_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zotHc2DerU6k" title="Weighted average shares of Class A ordinary shares outstanding, diluted">29,200,000</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_z35GVJKgOpt" title="Weighted average shares of Class B ordinary shares outstanding, basic"><span id="xdx_90F_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zP3aTwMdDQV9" title="Weighted average shares of Class B ordinary shares outstanding, diluted">12,000,000</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zagCMYdAdzgk" title="Weighted average shares of Class A ordinary shares outstanding, basic"><span id="xdx_90E_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zyL2bV3b5PRk" title="Weighted average shares of Class A ordinary shares outstanding, diluted">-</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zXr0eUmKlxTk" title="Weighted average shares of Class B ordinary shares outstanding, basic"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zoRbyBTQVmCb" title="Weighted average shares of Class B ordinary shares outstanding, diluted">12,000,000</td> <td> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zcCKKzK0cWV9" title="Weighted average shares of Class A ordinary shares outstanding, basic"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zOH8TbioosJd" title="Weighted average shares of Class A ordinary shares outstanding, diluted">29,200,000</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zhbiRPvokize" title="Weighted average shares of Class B ordinary shares outstanding, basic"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zhqvV3rpqj3a" title="Weighted average shares of Class B ordinary shares outstanding, diluted">12,000,000</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_904_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zEY9xVaPEFDg" title="Weighted average shares of Class A ordinary shares outstanding, basic"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zOGUjQ67l326" title="Weighted average shares of Class A ordinary shares outstanding, diluted">-</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_z7NkVhC1Buta" title="Weighted average shares of Class B ordinary shares outstanding, basic"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zugYfe4WNJza" title="Weighted average shares of Class B ordinary shares outstanding, diluted">12,000,000</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 1pt">Basic and diluted net income per share</td> <td> </td> <td>$</td> <td style="text-align: right"><span id="xdx_90C_eus-gaap--EarningsPerShareBasic_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zztK8z2kHEf1" title="Class A ordinary shares - basic net income per share"><span id="xdx_90A_eus-gaap--EarningsPerShareDiluted_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zMIoEmZWXWg3" title="Class A ordinary shares - diluted net income per share">0.05</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right"><span id="xdx_903_eus-gaap--EarningsPerShareBasic_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zT6X1p9OSb1c" title="Class B ordinary shares - basic net income per share"><span id="xdx_90B_eus-gaap--EarningsPerShareDiluted_c20260401__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zi8XCs4uPaH3" title="Class B ordinary shares - basic net income per share">0.05</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right"><span id="xdx_90B_eus-gaap--EarningsPerShareBasic_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_z7rh3C1hJqLd" title="Class A ordinary shares - basic net income per share"><span id="xdx_904_eus-gaap--EarningsPerShareDiluted_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zvMKXNkdmV28" title="Class A ordinary shares - diluted net income per share">-</td> <td> </td> <td> </td> <td>$</td> <td style="text-align: right"><span id="xdx_908_eus-gaap--EarningsPerShareBasic_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zvdKajhTtz9l" title="Class B ordinary shares - basic net income per share"><span id="xdx_909_eus-gaap--EarningsPerShareDiluted_c20250401__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_z7Ce9x8NJhJc" title="Class B ordinary shares - basic net income per share">(0.00</td> <td>)</td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td style="font-weight: bold; text-align: right"><span id="xdx_90A_eus-gaap--EarningsPerShareBasic_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zsJb4uB0A5Y7" title="Class A ordinary shares - basic net income per share"><span id="xdx_90E_eus-gaap--EarningsPerShareDiluted_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_ztqxMmGUi264" title="Class A ordinary shares - diluted net income per share">0.09</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_905_eus-gaap--EarningsPerShareBasic_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zn2FyknbVaV4" title="Class B ordinary shares - basic net income per share"><span id="xdx_902_eus-gaap--EarningsPerShareDiluted_c20260101__20260630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zmgGGSnL3SV4" title="Class B ordinary shares - basic net income per share">0.09</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right"><span id="xdx_903_eus-gaap--EarningsPerShareBasic_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zg4mlaOfUsAh" title="Class A ordinary shares - basic net income per share"><span id="xdx_901_eus-gaap--EarningsPerShareDiluted_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassAMember_zaj1j1m5Tfw2" title="Class A ordinary shares - diluted net income per share">-</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; text-align: right">(<span id="xdx_90A_eus-gaap--EarningsPerShareBasic_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_zLUddHlB4pCe" title="Class B ordinary shares - basic net income per share"><span id="xdx_90D_eus-gaap--EarningsPerShareDiluted_c20250320__20250630__us-gaap--StatementEquityComponentsAxis__custom--OrdinaryShareClassBMember_za7RrUmJ0RJc" title="Class B ordinary shares - basic net income per share">0.00</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--TemporaryEquityTableTextBlock_zI3yMm7Bm2me" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Schedule of ordinary shares subject to redemption</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Class A ordinary shares subject to possible redemption, December 31, 2025</td> <td> </td> <td style="text-align: left">$</td> <td id="xdx_980_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iS_c20260101__20260630_zUU3xDA47rrg" style="text-align: right">284,776,628</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Plus:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left; text-indent: -0.125in; padding-left: 0.125in; width: 88%; vertical-align: top">Accretion of carrying value to redemption value</td> <td style="padding-bottom: 1pt; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td> <td id="xdx_985_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20260101__20260630_zQPapygKmRAh" style="border-bottom: Black 1pt solid; width: 9%; text-align: right">5,106,510</td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Class A ordinary shares subject to possible redemption, June 30, 2026</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_98A_eus-gaap--TemporaryEquityValueExcludingAdditionalPaidInCapital_iE_c20260101__20260630_ztZMKRJPEjKk" style="border-bottom: Black 2.5pt double; text-align: right">289,883,138</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

284776628

5106510

289883138

Net Income/(Loss) per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net income per share of ordinary shares is computed by dividing net income applicable to ordinary shareholders by the weighted average number of shares of ordinary shares outstanding during the period. The Company has not considered the effect of the Warrants sold in the Offering and Private Placement to purchase an aggregate of 14,100,000 Class A ordinary shares in the calculation of diluted income per share, since their inclusion would be anti-dilutive under the treasury stock method and are contingent on future events. As a result, diluted income per share of Class A ordinary shares is the same as basic income per share of ordinary shares for the period presented.

14100000

1339811

550607

-36000

2765308

1136428

41420

29200000

12000000

29200000

12000000

0.05

-0.00

0.09

0.00

Concentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. At December 31, 2025 and June 30, 2026, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.

250000

Fair value of financial instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.

Risks and Uncertainties The United States and global markets are experiencing volatility and disruption following the geopolitical instability resulting from the ongoing Russia-Ukraine conflict and the recent escalation of the Israel-Hamas conflict. In response to the ongoing Russia-Ukraine conflict, the North Atlantic Treaty Organization (“NATO”) deployed additional military forces to eastern Europe, and the United States, the United Kingdom, the European Union and other countries have announced various sanctions and restrictive actions against Russia, Belarus and related individuals and entities, including the removal of certain financial institutions from the Society for Worldwide Interbank Financial Telecommunication payment system. Certain countries, including the United States, have also provided and may continue to provide military aid or other assistance to Ukraine and to Israel, increasing geopolitical tensions among a number of nations. The invasion of Ukraine by Russia and the escalation of the Israel-Hamas conflict and the resulting measures that have been taken, and could be taken in the future, by NATO, the United States, the United Kingdom, the European Union, Israel and its neighboring states and other countries have created global security concerns that could have a lasting impact on regional and global economies. Although the length and impact of the ongoing conflicts are highly unpredictable, they could lead to market disruptions, including significant volatility in commodity prices, credit and capital markets, as well as supply chain interruptions and increased cyber-attacks against U.S. companies. Additionally, any resulting sanctions could adversely affect the global economy and financial markets and lead to instability and lack of liquidity in capital markets. Any of the above-mentioned factors, or any other negative impact on the global economy, capital markets or other geopolitical conditions resulting from the Russian invasion of Ukraine, the escalation of the Israel-Hamas conflict and subsequent sanctions or related actions, could adversely affect the Company’s search for an initial Business Combination and any target business with which the Company may ultimately consummate an initial Business Combination.

Recent Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires the disclosure of additional segment information. ASU No. 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company adopted ASU 2023-07 as of the inception of the Company. Adoption of the ASU did not impact the Company’s financial position, results of operations or cash flows. In December 2023, the FASB issued ASU 2023-09, Income taxes (Topic 740): Improvements to Income Tax Disclosure (“ASU 2023-09”), which enhances the transparency and usefulness of income tax disclosures. ASU 2023-09 will be effective for fiscal years beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company adopted ASU 2023-09 as of the inception of the Company. Adoption of the ASU did not impact the Company’s financial position, results of operations or cash flows. In December 2025, the FASB issued ASU 2025-11 Interim Reporting (Topic 270): Narrow Scope Improvements (“ASU 2025-11”), to improve the guidance for interim reporting and clarify when that guidance is applicable. The ASU 2025-11 provides a comprehensive list of required disclosures and also requires entities to disclose events since the last annual reporting period that have a material impact on the entity. ASU 2025-11 is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027, for public business entities and for interim reporting periods within annual reporting periods beginning after December 15, 2028, for entities other than public business entities. Early adoption is permitted. Management is currently evaluating ASU 2025-11 to determine its impact on the Company’s disclosures. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

NOTE 3. INITIAL PUBLIC OFFERING On August 1, 2025, the Company consummated its Initial Public Offering of <span id="xdx_907_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_ziiKEuBh8qWg" title="Sale of units in initial public offering">25,000,000 Units, at $10.00 per Unit, generating gross proceeds of $<span id="xdx_907_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z7xJdTWIQs8j" title="Sale of units in initial public offering aggragate amount">250,000,000. The Company granted the underwriter a 45-day option to purchase up to an additional <span id="xdx_904_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zi3AGJrNogke" title="Sale of units in initial public offering">3,750,000 Units at the Initial Public Offering price to cover over-allotments, if any. On August 11, 2025, the underwriters of the IPO notified the Company of their partial exercise of the over-allotment option and purchased <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250802__20250811__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zaK7CJ35Z6P" title="Sale of units in initial public offering">3,000,000 additional units (the “Option Units”) at $10.00 per unit upon the closing of the over-allotment option, generating gross proceeds of $<span id="xdx_901_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20250802__20250811__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zzL7qvdcW5v5" title="Sale of units in initial public offering aggragate amount">30,000,000. On September 9, 2025, the Underwriters advised the Company that it has elected not to exercise the remaining over-allotment option and thereby forfeit the option. Each Unit consists of one Ordinary Share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment.

25000000

10.00

250000000

3750000

3000000

10.00

30000000

11.50

NOTE 4. PRIVATE PLACEMENT Simultaneously with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zWpVriUo9y18" title="Sale of units in initial public offering">200,000 Private Units at a price of $10.00 per Placement Unit raising $<span id="xdx_90A_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20250729__20250801__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zld7xUyBfm51" title="Sale of units in initial public offering aggragate amount">2,000,000 in the aggregate. The proceeds from the sale of the Private Units were added to the net proceeds from the Offering held in the Trust Account. The Placement Units are identical to the Units sold in the Initial Public Offering, as described in Note 7. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private Units will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Warrants will expire worthless.

200000

10.00

2000000

NOTE 5. RELATED PARTY TRANSACTIONS Founder Shares On March 25, 2025, the Company issued an aggregate of 12,321,429 founder shares to the Sponsor for an aggregate purchase price of $25,000 in cash. The funds were received on May 27, 2025. Following the partial exercise of the over-allotment option on August 11, 2025, on September 9, 2025, the Underwriters advised the Company that it has elected not to exercise the remaining over-allotment option and thereby forfeit the option. As a result, on September 9, 2025, the Company cancelled a total of 321,429 founder shares. As of June 30, 2026, sponsor held a total of 12,000,000 founder shares and none was subject to forfeiture. The founder shares are designated as Class B ordinary shares and, except as described below, are identical to the Class A ordinary shares included in the units being sold in the IPO, and holders of founder shares have the same shareholder rights as public shareholders, except that (i) the founder shares are subject to certain transfer restrictions, as described in more detail below, (ii) the founder shares are entitled to registration rights; (iii) our sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to (A) waive their redemption rights with respect to their founder shares, private shares and public shares in connection with the completion of our initial business combination, (B) waive their redemption rights with respect to their founder shares, private shares and public shares in connection with a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association (a) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we have not consummated an initial business combination within the completion window or (b) with respect to any other material provisions relating to shareholders’ rights or pre-initial business combination activity, (C) waive their rights to liquidating distributions from the trust account with respect to their founder shares and private shares if we fail to complete our initial business combination within the completion window, although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within such time period and to liquidating distributions from assets outside the trust account and (D) vote any founder shares held by them and any public shares they may purchase (including in open market and privately-negotiated transactions) in favor of our initial business combination (except that any public shares such parties may purchase in compliance with the requirements of Rule 14e-5 under the Exchange Act would not be voted in favor of approving the business combination transaction), (iv) the founder shares are automatically convertible into Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination or earlier at the option of the holder on a one-for-one basis, subject to adjustment as described herein and in our amended and restated memorandum and articles of association, and (v) prior to the closing of our initial business combination, only holders of our Class B ordinary shares will be entitled to vote on the appointment and removal of directors or continuing the company in a jurisdiction outside the British Virgin Islands (including any ordinary resolution required to amend our constitutional documents or to adopt new constitutional documents, in each case, as a result of our approving a transfer by way of continuation in a jurisdiction outside the British Virgin Islands). With certain limited exceptions, the founder shares are not transferable, assignable or saleable (except to our officers and directors and other persons or entities affiliated with our sponsor, each of whom will be subject to the same transfer restrictions) until the completion of our initial business combination. Administrative Services Arrangement An affiliate of our Sponsor has agreed, commencing from the date that the Company’s securities are first listed on Nasdaq, through the earlier of the Company’s consummation of a Business Combination and its liquidation, to make available to the Company our Sponsor certain office space, utilities and secretarial and administrative support as may be reasonably required by the Company. The Company has agreed to pay to the affiliate of our Sponsor, $20,000 per month, for up to 18 months, subject to extension to up to 21 months, for such administrative services. For the six months ended June 30, 2026, $120,000 was charged to operations and no amounts were outstanding at June 30, 2026. Related Party Loans In order to finance transaction costs in connection with a Business Combination, the Company’s Sponsor or an affiliate of the Sponsor, or the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). Up to $2,500,000 of such loans may be convertible into private units, at a price of $10.00 per unit, at the option of the applicable lender. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans, but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. As of June 30, 2026, no amounts under such loans have been drawn. Representative Shares On August 1, 2025, the Company issued 1,000,000 representative shares to D. Boral Capital, LLC and/or its designees (whether or not the over-allotment is exercised) as part of representative compensation (the “Representative Shares”). The Representative Shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the commencement of sales of the IPO pursuant to FINRA Rule 5110(e)(1). Pursuant to this FINRA lock-up, these securities cannot be sold, transferred, assigned, pledged or hypothecated or the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period of 180 days from the commencement of sales of the Initial Public Offering except as permitted under FINRA Rule 5110(e)(2), including to any underwriter and selected dealer participating in the Initial Public Offering and their officers or partners, registered persons or affiliates. The Representative Shares have resale registration rights including two demand (one at the Company’s expense and one at D. Boral Capital, LLC’s expense) and unlimited “piggy-back” rights for periods of five and seven years, respectively, from the commencement of sales of the Initial Public Offering.

12321429

25000

321429

12000000

20000

120000

2500000

10.00

1000000

NOTE 6. COMMITMENTS AND CONTINGENCIES Registration Rights The holders of the (i) founder shares, which were issued in a private placement prior to the closing of the initial public offering, (ii) Private Units (including the component securities as well as any securities underlying those component securities), which was issued in a private placement simultaneously with the closing of the initial public offering and (iii) private units (including the component securities as well as any securities underlying those component securities) that may be issued upon conversion of working capital loans will have registration rights to require the Company to register a sale of any of our securities held by them and any other securities of the company acquired by them prior to the consummation of a Business Combination pursuant to a registration rights agreement to be signed prior to or on the effective date of the initial public offering. The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of the Business Combination. The registration rights granted to the underwriter are limited to two demand (one at the Company’s expense and one at D. Boral Capital, LLC’s expense) and unlimited “piggy-back” rights for periods of five and seven years, respectively, from the commencement of sales of the Initial Public Offering. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The Company has granted the underwriters a 45-day option to purchase up to <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20260101__20260630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zwbzDZGLPMoj" title="Option granted">3,750,000 additional Units to cover over-allotments at the Initial Public Offering price, less the underwriting discounts and commissions. On August 11, 2025, the underwriters of the IPO notified the Company of their partial exercise of the over-allotment option and purchased <span id="xdx_90D_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250802__20250811__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zR7wbwMpc9wh" title="Sale of units in initial public offering">3,000,000 additional units (the “Option Units”) at $10.00 per unit upon the closing of the over-allotment option, generating gross proceeds of $<span id="xdx_909_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20250802__20250811__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zbSfvKxgSk01" title="Sale of units in initial public offering aggragate amount">30,000,000. On September 9, 2025, the Underwriters advised the Company that it has elected not to exercise the remaining over-allotment option and thereby forfeit the option. The underwriters were not entitled to any cash underwriting fee at closing of the Initial Public Offering. The underwriters were entitled to <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20260101__20260630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwriterMember_z7tP7IInb756" title="Number of share issued">1,000,000 Representative Shares (whether or not the over-allotment is exercised) at closing of the Initial Public Offering. The underwriters will not be entitled to any deferred underwriting fee upon closing of the Business Combination.

3750000

3000000

10.00

30000000

1000000

NOTE 7. STOCKHOLDER’S EQUITY Preference shares — The Company is authorized to issue 5,000,000 preference shares with a par value of $0.0001 per share. Holders of the Company’s ordinary shares are entitled to one vote for each share. On December 31, 2025 and June 30, 2026, there were no preferred shares issued or outstanding. Class A Ordinary shares — The Company is authorized to issue 500,000,000 ordinary shares with a par value of $0.0001 per share. Holders of the Company’s ordinary shares are entitled to one vote for each share. As a result of closing of the IPO and the partial exercise of the over-allotment option partial exercise of the over-allotment option, on December 31, 2025 and June 30, 2026, there were 1,200,000 Class A ordinary shares issued or outstanding, excluding 28,000,000 Class A ordinary shares subject to possible redemption. Class B Ordinary shares — The Company is authorized to issue 50,000,000 ordinary shares with a par value of $0.0001 per share. Holders of the Company’s ordinary shares are entitled to one vote for each share. On March 25, 2025, the Company issued an aggregate of 12,321,429 ordinary shares to the Sponsor for an aggregate purchase price of $25,000 in cash, of which <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20250301__20250325__us-gaap--StatementEquityComponentsAxis__custom--ClassAOrdinarySharesMember_znPFdJkwaY27">1,607,143 shares held by the Sponsor are subject to forfeiture to the extent that the underwriter’s over-allotment option is not exercised in full. Following the partial exercise of the over-allotment option on August 11, 2025 and cancellation 321,429 ordinary shares on September 9, 2025, on December 31, 2025 and June 30, 2026, there were 12,000,000 ordinary 12,300,000shares issued and outstanding. The Class B ordinary shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination, or at any time prior thereto at the option of the holder thereof, on a one-for-one basis, subject to adjustment as provided herein. Because our sponsor acquired the Class B ordinary shares at a nominal price, our public shareholders will incur an immediate and substantial dilution upon the closing of the IPO, assuming no value is ascribed to the warrants included in the units. In the case that additional Class A ordinary shares, or equity-linked securities (as described herein), are issued or deemed issued in excess of the amounts issued in the IPO and related to the closing of our initial business combination, the ratio at which the Class B ordinary shares will convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the issued and outstanding Class B ordinary shares agree to waive such anti-dilution adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, <span id="xdx_908_ecustom--PercentageOfTheTotalNumberOfOrdinarySharesOutstandingAfterConversion_iI_dp_c20260630__us-gaap--ConversionOfStockByUniqueDescriptionAxis__custom--ConversionOfClassBToClassACommonStockMember_zptIg6CrXRWb" title="Percentage of total number of ordinary shares">30% of the sum of (i) the total number of all Class A ordinary shares outstanding upon the completion of the IPO (including any Class A ordinary shares issued pursuant to the underwriters’ over-allotment option and excluding the Class A ordinary shares that are included within the private units), plus (ii) all Class A ordinary shares and equity-linked securities issued or deemed issued, in connection with the closing of the initial business combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the initial business combination and any units issued to our sponsor or any of its affiliates or to our officers or directors upon conversion of working capital loans) minus (iii) any redemptions of Class A ordinary shares by public shareholders in connection with an initial business combination; provided that such conversion of founder shares will never occur on a less than one-for-one basis. Holders of record of the Company’s Class A ordinary shares and Class B ordinary shares are entitled to one vote for each share held on all matters to be voted on by shareholders. Unless specified in the amended and restated memorandum and articles of association or as required by the Companies Act or stock exchange rules, an ordinary resolution under British Virgin Islands law and the amended and restated memorandum and articles of association, which requires the affirmative vote of at least a majority of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting of the company is generally required to approve any matter voted on by the Company’s shareholders. Approval of certain actions require an ordinary resolution under British Virgin Islands law, which (except as specified below) requires the affirmative vote of in excess of 50 percent of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting, and pursuant to the Company’s amended and restated memorandum and articles of association, such actions include amending the amended and restated memorandum and articles of association and approving a statutory merger or consolidation with another company. There is no cumulative voting with respect to the appointment of directors, meaning, following the Company’s initial Business Combination, the holders of more than 50% of the ordinary shares voted for the appointment of directors can elect all of the directors. Prior to the consummation of the initial Business Combination, only holders of the Class B ordinary shares will (i) have the right to vote on the appointment and removal of directors and (ii) be entitled to vote on continuing the Company in a jurisdiction outside the British Virgin Islands (including any ordinary resolution required to amend the constitutional documents or to adopt new constitutional documents, in each case, as a result of approving a transfer by way of continuation in a jurisdiction outside the British Virgin Islands). Holders of the Class A ordinary shares will not be entitled to vote on these matters during such time. These provisions of our amended and restated memorandum and articles of association may only be amended if approved by an ordinary resolution passed by the affirmative vote of the holders representing at least 90% of the issued Class B ordinary shares. Warrants — Warrants may only be exercised for a whole number of shares. No fractional shares will be issued upon exercise of the Warrants. The Warrants will become exercisable 30 days after the completion of our initial business combination, provided that the Company has an effective registration statement under the Securities Act covering the Class A ordinary shares issuable upon exercise of the warrants and a current prospectus relating to them is available and such shares are registered, qualified or exempt from registration under the securities, or blue sky, laws of the state of residence of the holder (or we permit holders to exercise their warrants on a cashless basis under the circumstances specified in the warrant agreement). If a registration statement covering the Class A ordinary shares issuable upon exercise of the warrants is not effective by the 60th business day after the closing of our initial business combination, warrant holders may, until such time as there is an effective registration statement and during any period when we will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if our Class A ordinary shares are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, we may, at our option, require holders of public warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event we so elect, we will not be required to file or maintain in effect a registration statement. The Warrants will expire five years from the consummation of a Business Combination or earlier upon redemption or liquidation. The Company may call the Warrants for redemption: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">in whole and not in part;</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">at a price of $0.01 per warrant; upon a minimum of 30 days’ prior written notice of redemption (the “30-day redemption period”); and</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">if, and only if, the closing price of the Class A ordinary shares equals or exceeds $18.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant) for any 20 trading days within a 30-trading day period commencing at least 30 days after completion of our initial business combination and ending three business days before we send the notice of redemption to the warrant holders.</td> </tr> </table> The private warrants are identical to the warrants sold in the IPO except that, so long as they are held by our sponsor or its permitted transferees, the private warrants (i) are locked-up until the completion of our initial business combination and (ii) will be entitled to registration rights. The exercise price and number of ordinary shares issuable upon exercise of the warrants may be adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like. Additionally, in no event will the Company be required to net cash settle the warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such warrants. Accordingly, the warrants may expire worthless. The exercise price is $11.50 per share, subject to adjustment as described herein. In addition, if (x) we issue additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of our initial business combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by our board of directors and, in the case of any such issuance to our initial shareholders or their affiliates, without taking into account any founder shares held by our initial shareholders or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our initial business combination on the date of the consummation of our initial business combination (net of redemptions), and (z) the volume weighted average trading price of our Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which we consummate our initial business combination (such price, the “Market Value”) is below $9.20 per share, then the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger prices will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price.

5000000

0.0001

500000000

0.0001

1200000

28000000

50000000

0.0001

12321429

25000

1607143

321429

12000000

0.30

one-for-one basis

P30D

0.01

P30D

18.00

P20D P30D P20D

9.20

1.15

18.00

1.80

NOTE 8. FAIR VALUE MEASUREMENTS The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. Level 3: Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability. The following table presents information about the Company’s assets that are measured at fair value as of June 30, 2026 and December 31, 2025, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zn8oEnihuBh3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Schedule of fair value assets and liabilities</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">June 30, 2026</td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Asset:</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Cash held in trust</td> <td style="width: 1%"> </td> <td style="width: 10%; text-align: center">1</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_985_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zC6ecbqmxuZ2" style="width: 9%; text-align: right">284,776,628</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td id="xdx_985_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0p0_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zDC2hp9XRsSk" style="text-align: right; width: 9%">289,883,138</td> <td style="width: 1%"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zn8oEnihuBh3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Schedule of fair value assets and liabilities</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">June 30, 2026</td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Asset:</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Cash held in trust</td> <td style="width: 1%"> </td> <td style="width: 10%; text-align: center">1</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_985_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zC6ecbqmxuZ2" style="width: 9%; text-align: right">284,776,628</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td id="xdx_985_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0p0_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zDC2hp9XRsSk" style="text-align: right; width: 9%">289,883,138</td> <td style="width: 1%"> </td></tr> </table>

284776628

289883138

NOTE 9. SEGMENT INFORMATION ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance. The Company’s chief operating decision maker has been identified as the Chief Financial Officer (“CODM”), who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one operating segment. When evaluating the Company’s performance and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following: <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zDLQjoZHy4cf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SEGMENT INFORMATION (Details)"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Schedule of segment information</td> <td> </td> <td colspan="2" id="xdx_49A_20260101__20260630_zMIxxDQifVN5" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> For the Six months Ended June 30, 2026</td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingExpenses_iN_di_zA0cLcQFSi89" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 88%; text-align: left">Formation and operating costs</td> <td style="padding-bottom: 2.5pt; width: 1%"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; width: 9%; text-align: right">(1,204,774</td> <td style="padding-bottom: 2.5pt; width: 1%; text-align: left">)</td></tr> <tr id="xdx_401_ecustom--InterestIncomeOnCashHeldInTrustAccount_ze679Pn5Jl55" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left; padding-bottom: 2.5pt">Interest income on cash held in trust account</td> <td style="width: 1%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; width: 9%; text-align: right">51,065,109</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--CashHeldInTrustAccount_z9edqKLdsmg9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Cash held in Trust Account</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">289,883,138</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The key measures of segment profit or loss reviewed by the CODM are formation and operating costs, interest income on cash held in trust account, and cash held in trust account. The CODM reviews interest earned on cash or investments held in Trust Account to measure and monitor shareholder value and determine the most effective strategy of investment with the Trust Account funds while maintaining compliance with the trust agreement. Within the operating expenses, the CODM specifically reviews professional service fees, which are a significant segment expense, and include legal fees and advisory fees. These expenses are monitored to manage and forecast cash available to complete a Business Combination within the required period. Other general and administrative expenses, including accounting expenses, printing expenses, and regulatory filing fees, are reviewed in the aggregate to ensure alignment with budget and contractual obligations. Funds invested in the Trust Account represent the predominant portion of the Company’s total assets and are monitored by the CODM to determine the most effective strategy of investment with the Trust Account funds, while maintaining compliance with the trust agreement.

<table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zDLQjoZHy4cf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SEGMENT INFORMATION (Details)"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Schedule of segment information</td> <td> </td> <td colspan="2" id="xdx_49A_20260101__20260630_zMIxxDQifVN5" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> For the Six months Ended June 30, 2026</td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingExpenses_iN_di_zA0cLcQFSi89" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 88%; text-align: left">Formation and operating costs</td> <td style="padding-bottom: 2.5pt; width: 1%"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; width: 9%; text-align: right">(1,204,774</td> <td style="padding-bottom: 2.5pt; width: 1%; text-align: left">)</td></tr> <tr id="xdx_401_ecustom--InterestIncomeOnCashHeldInTrustAccount_ze679Pn5Jl55" style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left; padding-bottom: 2.5pt">Interest income on cash held in trust account</td> <td style="width: 1%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; width: 9%; text-align: right">51,065,109</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--CashHeldInTrustAccount_z9edqKLdsmg9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt">Cash held in Trust Account</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">289,883,138</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1204774

51065109 289883138

NOTE 10. SUBSEQUENT EVENTS In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred through the date the condensed consolidated financial statements were available to issue. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements except the following. On July 29, 2026, the Company held a special meeting of its shareholders (the “Special Meeting”). At the Special Meeting, the Company’s shareholders voted to approve the previously announced business combination between Exascale and BCAR (the “Business Combination”), as well as all other proposals related to the Business Combination considered and voted upon at the Meeting. The Company’s shareholders elected to redeem an aggregate of <span id="xdx_907_ecustom--AggregateShares_iI_c20260729__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinaryShareMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zJW1x9Cg9qal" title="Aggregate shares">26,865,211 Class A ordinary shares, representing 95.95% of the outstanding public shares, at the special meeting. Following redemptions by BCAR shareholders in connection with the special meeting, there will be approximately $<span id="xdx_902_ecustom--TransactionExpenses_pn3n3_dm_c20260701__20260729__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinaryShareMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zabrDOVE4rT8" title="Transaction expenses">12 million remaining in BCAR’s trust account, which amount, net of transaction expenses, will be available to PubCo at closing. The amount retained in the trust account will satisfy the minimum cash closing condition under the terms of the business combination agreement. Exascale and BCAR do not currently anticipate pursuing any additional financing prior to closing the transaction. As of August 14, 2026, the trust funds have not been distributed to redeemed shareholders and the business combination has not been closed yet.

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1. Organization and principal activities On June 1, 2022, Exascale Labs Inc. (the “Company”) was formally incorporated in the State of Delaware. In accordance with the Company’s Certificate of Incorporation, the total authorized share capital of the Company consists of 1,500 shares of common stock, with a par value of $0.01 per share, all of which are of one class. The governance structure of the Company stipulates that the business and affairs of the Company shall be managed by or under the direction of its board of directors. On December 16, 2025, the Company incorporated its wholly-owned subsidiary, Evana Alpha Pte. Ltd., in Singapore. The Company subscribed for all <span id="xdx_90C_ecustom--OrdinarySharesIssued_c20161201__20161216__srt--CounterpartyNameAxis__custom--EvanaAlphaPteLtdMember__dei--LegalEntityAxis__custom--ExascaleLabsIncMember_zGqaLmEN4CXe" title="Ordinary shares issued">1,000 ordinary shares of the subsidiary, with a total issued share capital of Singapore Dollars <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20161201__20161216__srt--CounterpartyNameAxis__custom--EvanaAlphaPteLtdMember__dei--LegalEntityAxis__custom--ExascaleLabsIncMember_zD7x1B1pZKWh" title="Number of shares issued">1,000. The subsidiary’s principal business activity is information technology consultancy (excluding cybersecurity). The Company is a next-generation artificial intelligence (“AI”) infrastructure provider operating an asset-light, software-defined graphics processing unit (“GPU”) compute platform and related AI infrastructure solutions. The Company’s core business includes GPU as a Service (“GaaS”), through which it provides reserved and on-demand access to high-performance GPU compute capacity sourced from third-party data centers globally, as well as GPU cluster management and optimization services for artificial intelligence data center (“AIDC”) operators. In addition, the Company has developed certain modular data center, high-density liquid cooling, high-voltage direct current (“HVDC”) power, data center interconnectivity and energy storage solutions that are designed to address deployment bottlenecks in AI infrastructure and that the Company believes are ready for commercial engagement in future. The platform is purpose-built for large-scale AI workloads, including large language model (“LLM”) training, fine-tuning, and high-concurrency inference. In January 2026, the Company adopted an Amended and Restated Certificate of Incorporation, which established a dual-class common stock structure. Under this new structure, the Company’s equity is divided into 303 shares of Class A common stock and 1,197 shares of Class B common stock, which are entitled to one (1) vote and twenty (20) votes per share, respectively. Despite the differential in voting power, Class A common stock and Class B common stock rank pari passu in all other respects, sharing ratably in dividends and any distributions upon liquidation. Furthermore, all outstanding Simple Agreements for Future Equity (“SAFEs”) are designated to convert or settle exclusively into Class A common stock. On January 11, 2026, D. Boral ARC Acquisition I Corp., a British Virgin Islands business company (“BCAR”) entered into an Agreement and Plan of Merger (the “Business Combination Agreement”), with D. Boral ARC Merger Corporation, a Delaware corporation and a wholly owned subsidiary of BCAR (“PubCo”), D. Boral Arc Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of BCAR (“Merger Sub”), and the Company. On August 27, 2026 (the “Closing Date”), PubCo consummated the transactions contemplated by the Business Combination Agreement (the “Business Combination”). PubCo changed its name from “D. Boral ARC Merger Corporation” to “Exascale Labs Holdings Inc”. Upon the closing of the Business Combination, Merger Sub merged with and into the Company, with the Company surviving as a wholly owned subsidiary of PubCo. The Company’s former securityholders received an aggregate of 19,354,261 PubCo Class A common stock and 30,645,739 PubCo Class B common stock, representing aggregate merger consideration of $500.0 million based on a deemed value of $10.00 per share. The Class B common stock have 20 votes per share, while the Class A common stock have one vote per share. The Business Combination was accounted for as a reverse recapitalization, with the Company identified as the accounting acquirer and BCAR identified as the accounting acquiree for financial reporting purposes (De-SPAC transaction). As of the Closing Date and following the completion of the Business Combination, PubCo had approximately 64,334,789 shares of PubCo Common Stock issued and outstanding, consisting of approximately 33,689,050 PubCo Class A common stock and 30,645,739 PubCo Class B common stock. In addition, as of the Closing Date, PubCo had 14,099,992 warrants issued and outstanding, each whole warrant entitling the holder thereof to purchase one share of PubCo Class A common stock at an exercise price of $11.50 per share.

1500

0.01

1000

The Company’s former securityholders received an aggregate of 19,354,261 PubCo Class A common stock and 30,645,739 PubCo Class B common stock, representing aggregate merger consideration of $500.0 million based on a deemed value of $10.00 per share. The Class B common stock have 20 votes per share, while the Class A common stock have one vote per share. Closing Date and following the completion of the Business Combination, PubCo had approximately 64,334,789 shares of PubCo Common Stock issued and outstanding, consisting of approximately 33,689,050 PubCo Class A common stock and 30,645,739 PubCo Class B common stock. In addition, as of the Closing Date, PubCo had 14,099,992 warrants issued and outstanding, each whole warrant entitling the holder thereof to purchase one share of PubCo Class A common stock at an exercise price of $11.50 per share.

2. Summary of significant accounting policies a. Going concern As of June 30, 2026, the Company had cash and U.S. Dollar Coin (“USDC”) of $4.9 2,693,586 million and current liabilities of $31.9 31,885,500 million. For the years ended June 30, 2025 and 2026, the Company used $1.0 (1,010,799) million and $2.8 (2,754,624) million in operating activities. The Company incurred net losses of $7.7 (7,659,667) million and $12.2 (12,162,391) million for these respective periods. Since inception, the Company has incurred recurring net losses from operations and negative cash flows from operating activities. As of June 30, 2026, the Company had an accumulated deficit of $25.4 (25,379,426) million. These factors raised substantial doubt regarding the Company’s ability to continue as a going concern within one year of the date these consolidated financial statements were issued. On August 27, 2026, the Company consummated the Business Combination. Upon the closing of the Business Combination, all outstanding SAFEs of the Company were converted into PubCo Class A common stock in accordance with their terms, eliminating SAFE liabilities that totaled approximately $29.1 million as of June 30, 2026. In connection with the closing of the Business Combination, the Company obtained access to cash proceeds of approximately $11.8 million retained from the Business Combination. In addition, between July 1, 2026 and August 27, 2026, an investor provided the Company with $1.0 million in the form of a SAFE, which was also converted into PubCo Class A common stock upon the closing of the Business Combination. Management has prepared a cash flow forecast covering the twelve-month period following the date that these consolidated financial statements are issued. The forecast considers the liquidity provided by the De-SPAC transaction, conversion of SAFE instruments on the closing of the Business Combination, as well as management’s operating plans and expectations, including the Company’s continued focus on expanding its market presence and developing client relationships to drive revenue growth and managing operating expenses, with the objective of improving cash flows from operations over time. Based on this forecast, management believes that the Company will have sufficient liquidity to fund its ongoing operations and anticipated working capital requirements for a period of at least twelve months after the date that these consolidated financial statements are issued. Accordingly, management has concluded that the substantial doubt about the Company’s ability to continue as a going concern has been alleviated. These consolidated financial statements have been prepared on a going concern basis, and no adjustments are required to the carrying amounts or classification of assets and liabilities in the financial statements. b. Basis of presentation The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). c. Use of estimates and assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Management believes that the estimates used in preparing the consolidated financial statements are reasonable and prudent; however, actual results could differ from these estimates under different assumptions or conditions. Significant accounting estimates include recognition and measurement of SAFEs notes, recognition and measurement of the allowance for expected credit losses, deferred tax assets and valuation allowance. d. Fair value measurements In accordance with FASB ASC 820 Fair Value Measurements and Disclosures, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses a three-level hierarchy for fair value measurements of certain assets and liabilities for financial reporting purposes that distinguishes between market participant assumptions developed from market data obtained from outside sources (observable inputs) and the Company’s own assumptions about market participant assumptions developed from the best information available to us in the circumstances (unobservable inputs). The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace. Level 3: Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation. The fair value measurements discussed herein are based upon certain market assumptions and pertinent information available to management during the years ended June 30, 2025 and 2026. The carrying amount of cash and cash equivalents, accounts receivable, refundable deposits receivable, other receivables, accounts payable, refundable deposits payable and other current liabilities approximated their fair values as of June 30, 2025 and 2026. For the years ended June 30, 2025 and 2026, the Company carried SAFEs and digital assets at their fair value (see Note 4-Fair Value Measurements for fair value information). e. Functional currency The accompanying consolidated financial statements are presented in the United States dollar (“US$”). The functional currency of the Company and its subsidiary is the US$. All transactions are measured and recorded in the Company’s functional currency. f. Cash and cash equivalents The Company considers all highly liquid investments instruments purchased with a maturity period of three months or less to be cash or cash equivalents. The carrying amounts reported in the accompanying balance sheets for cash and cash equivalents approximate their fair value. As of June 30, 2025 and 2026, the Company does not have any cash equivalents. g. Crypto assets The Company’s crypto assets classified in current assets are held primarily for use in the ordinary course of business which is expected to be actively utilized or converted within the normal operating cycle and such crypto assets can be sold in a highly liquid marketplace. During the year ended June 30, 2026, the Company only held crypto assets of Tether USD (“USDT”) and USDC, which are principally funded by SAFE investors and as a form of collection from revenue transactions. The Company’s crypto assets are held with a qualified third-party custodian who provide secure storage and safeguarding of the Company’s crypto assets. USDC USDC is a stablecoin redeemable on a one-to-one basis for U.S. dollars and is accounted for as a financial instrument in the consolidated balance sheets. Crypto assets other than USDC On December 13, 2023, the FASB issued ASU 2023-08, which addresses the accounting and disclosure requirements for certain cryptocurrencies. The new guidance requires entities to subsequently measure certain cryptocurrencies at fair value, with changes in fair value recorded in net income in each reporting period. The Company applied the ASU since its holding of crypto assets in December 2025. Digital assets that are received as noncash consideration in the Company’s revenue arrangements and paid in purchases of professional service and others are presented as cash flows from operating activities in other operating activities settled in digital assets and USDC. Digital assets that are received in the Company’s revenue arrangements and sold for cash within seven days are presented as cash flows from operating activities, while other digital asset activity held longer than seven days is reflected as cash flows from investing activities under disposal of digital assets and USDC held in the consolidated statements of cash flows. The Company presents crypto assets other than USDC separately from other intangible assets and USDC, recorded as digital assets on the consolidated balance sheets. For the year ended June 30, 2026, the Company recorded receipt and disbursement of digital assets amounted to $991,601 and $991,601, respectively, which resulted in an ending balance of nil. The Company’s balances related to digital assets and stablecoins during the period included USDT and USDC, both of which are USD-pegged stablecoins. No fair value gain or loss on digital assets was recognized for the year ended June 30, 2026 considering the low volatility in the fair value of digital assets during the year ended June 30, 2026. h. Expected credit loss and accounts receivable The Company adopted Financial Standards Accounting Board (“FASB”) Accounting Standards Codification (“ASC”) 326 “Financial Instruments — Credit Losses” (“ASC 326”) on July 1, 2023. The Company’s accounts receivable are within the scope of ASC 326. ASC 326 introduces an approach based on expected credit losses on financial assets at amortized cost. Upon adoption of ASC 326, the Company estimates the expected credit losses for accounts receivable using the roll-rate method on a collective basis when similar risk characteristics exist. Expected credit losses are included in general and administrative expenses in the consolidated statements of operations and comprehensive loss. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Accounts receivable represents those receivables derived in the ordinary course of business, net of an allowance for any potentially uncollectible amounts. The Company makes estimates of expected credit and collectability trends for the allowance for credit losses based upon its assessment of various factors, including historical experience, the age of the accounts receivable balances, credit quality of its customers, current economic conditions, reasonable and supportable forecasts of future economic conditions that may vary by geography, customer-type, or industry sub-vertical, and other factors that may affect its ability to collect from customers. Although the Company has historically not experienced significant credit losses, they may experience increasing credit loss risks from accounts receivable in future periods if its customers are adversely affected by economic pressures or uncertainty associated with local or global economic recessions, or other customer-specific factors, and actual experience in the future may differ from their past experiences or current assessment. i. Deferred offering costs The Company follows the requirements of FASB ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A — “Expenses of Offering”. Deferred offering costs consist of underwriting, legal, and other professional expenses incurred through the balance sheet date that are directly related to the intended De-SPAC Transaction. These costs will be charged to shareholders’ equity, netted against the proceeds, upon the completion of the Business Combination. Should the transaction prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred, will be charged to the statements of operations and comprehensive loss. As of June 30, 2025 and 2026, the Company deferred nil and $190,000 of transaction costs, respectively. j. Advance to suppliers Advance to suppliers represent prepayments made to vendors in connection with the purchase of services. Advance is recorded at the amount paid and are classified as current assets when the related services are expected to be received within one year or the normal operating cycle. k. Refundable deposits receivable Refundable deposits receivable mainly represents security deposits and refundable cooperation deposits paid to suppliers and business partners that are contractually recoverable upon the completion of services. These amounts are recorded as assets when paid, generally at the amount paid. Deposits expected to be recovered within one year are classified as current; otherwise, they are classified as non-current. Allowance should be assessed under CECL, and write off when not recoverable. The Company evaluates the credit risk of refundable deposits receivable and recognizes an allowance for credit losses based on the current expected credit losses (“CECL”) model. Specific balances are written off when they are deemed uncollectible and all collection efforts have been exhausted. As of June 30, 2025 and 2026, no allowance for credit losses was recorded. l. Other receivables Other receivables represent funds temporarily held in trust by an employee acting as the Company’s behalf. As of June 30, 2025 and 2026, the balance were $1,207,626 and 0 nil, respectively, primarily comprising proceeds from SAFEs agreements received via the employee and net of payments made to designated suppliers at the Company’s direction. m. Equipment, net Equipment, net is stated at cost less accumulated depreciation and impairment, if any. Depreciation is computed using the straight-line method over the estimated useful lives of three or five years, depending on the asset category. n. Refundable deposits payable Refundable deposits payable represent security payments received from a third party and customers, which are required for certain intelligent computing power service arrangements. As of June 30, 2025 and 2026, the balances were $1,445,580 and $359,481, respectively. o. Impairment of long-lived assets The Company reviews its long-lived assets, equipment, for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets held and used is measured by comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated from the use of the asset and its eventual disposition. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount exceeds the fair value of the impaired assets. Assets to be disposed of are reported at the lower of their carrying amount or fair value less cost to sell. There was no impairment of long-lived assets for the years ended June 30, 2025 and 2026. p. Simple agreements for future equity SAFEs issued by the Company are freestanding financial instruments. As they contain certain redemption or liquidation features that may require the Company to settle the obligation in cash upon the occurrence of defined events (e.g., a change of control or dissolution), the instruments create an obligation that meets the definition of a liability. Accordingly, the SAFEs are classified in their entirety as liabilities on the consolidated balance sheets. These liabilities are measured at fair value upon initial recognition and are subsequently remeasured at fair value at each reporting date. All changes in their fair value are recognized in the consolidated statement of operations and comprehensive loss in the period in which they occur. q. Revenue recognition The Company applied ASC Topic 606 “Revenue from Contracts with Customers” (“ASC 606”) for all periods presented. The five-step model defined by ASC 606 requires the Company to (i) identify its contracts with clients, (ii) identify its performance obligations under those contracts, (iii) determine the transaction prices of those contracts, (iv) allocate the transaction prices to its performance obligations in those contracts, and (v) recognize revenue when each performance obligation under those contracts is satisfied. Revenue is recognized when promised goods or services are transferred to the client in an amount that reflects the consideration expected in exchange for those goods or services. The Company reports all of its revenues on a gross basis. This determination is based on the Company’s assessment that it is the principal in its revenue arrangements. The Company controls the service delivery platform and infrastructure before the service is provided to the customer. It is primarily responsible for fulfilling the service promise, has discretion in setting prices, and assumes the credit risk associated with the customer receivable. As a practical expedient, the Company elected to expense the incremental costs of obtaining a contract when incurred if the amortization period of the asset that the Company otherwise would have recognized is one year or less. Pursuant to ASC 606, the Company recognizes revenue based on the transaction price, which is the amount of consideration it expects to be entitled to exchange for transferring services to customers. For Intelligent Computing Power Services, contract consideration is generally fixed and is typically stated as a fixed monthly fee determined by (i) the contractually specified number of GPUs (capacity) and (ii) the service period. Accordingly, the transaction price is generally the fixed contractual amount. The Company recognizes revenue over time as the services are provided throughout the contract term. The Company offers payment terms ranging from 0 to 6 months, depending on customers’ credit profiles and service requirements. The Company does not provide warranties for its services and does not offer service-type warranty arrangements. The following is a description of the principal activities of the Company from which the Company generates its revenue under ASC 606. (i) Revenue for intelligent computing power service The Company leverages its expertise in high-performance computing and cloud-native architectures to build and operate stable, efficient, and scalable GPU computing platforms through modular data center design and liquid cooling technology. The Company uses these platforms to provide computing resources for large-scale AI training, model inference, and high-performance scientific computing to commercial enterprise clients with substantial GPU computing requirements. Supporting services include GPU server environment deployment, cluster scheduling and performance optimization, high-speed network interconnection, real-time monitoring and intelligent alerting systems, as well as industry-compliant security and regulatory assurance. The Company accounts for the above promises as a single performance obligation because they are highly integrated and not separately identifiable in the context of the contract. The Company provides an integrated, managed GPU computing platform in which computing capacity, deployment/configuration, scheduling, networking, monitoring, and security/compliance are interdependent and together deliver a single combined service—continuous access to a functioning and secured platform over the contractual term. The Company provides intelligent computing power services under two pricing models: (i) reserved capacity arrangements and (ii) on-demand (pay-as-you-go) arrangements. The following table presents revenue recognized during the period by arrangement type: <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--ScheduleOfRevenueRecognitionTableTextBlock_zkCLF9ZPExGf" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B7_zLkCItVFLvu6" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Schedule of Revenue recognition</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Reserved capacity arrangements</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_903_eus-gaap--Revenues_c20240701__20250630__srt--ProductOrServiceAxis__custom--RevenueFromIntelligentComputingPowerServiceMember__us-gaap--TransactionTypeAxis__custom--ReservedCapacityArrangementsMember_pp0p" title="Revenues">6,501,569</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_901_eus-gaap--Revenues_c20250701__20260630__srt--ProductOrServiceAxis__custom--RevenueFromIntelligentComputingPowerServiceMember__us-gaap--TransactionTypeAxis__custom--ReservedCapacityArrangementsMember_pp0p" title="Revenues">14,652,429</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">On-demand arrangements</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right"><span id="xdx_905_eus-gaap--Revenues_c20240701__20250630__srt--ProductOrServiceAxis__custom--RevenueFromIntelligentComputingPowerServiceMember__us-gaap--TransactionTypeAxis__custom--OnDemandArrangementsMember_pp0p" title="Revenues">44,680</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right"><span id="xdx_907_eus-gaap--Revenues_c20250701__20260630__srt--ProductOrServiceAxis__custom--RevenueFromIntelligentComputingPowerServiceMember__us-gaap--TransactionTypeAxis__custom--OnDemandArrangementsMember_pp0p" title="Revenues">12,508</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Total</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">6,546,249</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">14,664,937</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table> Reserved capacity arrangements The Company enters into reserved capacity arrangements, which generally provide committed intelligent computing power services for a defined service term ranging from 3 months to 3 years, with the majority of such arrangements having a one-year term. These contracts typically are non-cancelable, or may be canceled only under limited conditions with early notifications required. Payment terms generally range from 0-6 months upon the completion of services, and certain arrangements require prepayments. Any prepayments are recorded as contract liabilities and recognized over the service term. The performance obligation is satisfied over time because the customer simultaneously receives and consumes the benefits. Revenue is recognized using a time-elapsed output method over the contractual service period. On-demand (pay-as-you-go) arrangements The Company provides customers with on-demand access to intelligent computing power and GPU resources under pay-as-you-go model which requires advance payment. Customer advances are recorded as contract liabilities and recognized as revenue over the time during the provision of related services underlying the contract term. The revenue is recognized over time because the customer can simultaneously receive and consume the benefits during the service period. These arrangements generally do not include a fixed contractual term or minimum usage commitments. (ii) Revenue from comprehensive data center service The Company leverages its project experience in infrastructure management, cluster optimization, and system monitoring to provide full-cycle operational support to data center asset owners. Services encompass facility environment deployment, network architecture implementation, security and compliance system development, daily operational monitoring, and emergency fault response. Revenue is recognized over time because the Company’s services are performed throughout the contract term and the customer benefits as the services are provided. For the years ended June 30, 2025 and 2026, $7,015,512 and $14,822,799 of the revenue of the Company was recognized over time, respectively. Revenue disaggregated by service lines for the years ended June 30, 2025 and 2026 was disclosed in the table below: <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--DisaggregationOfRevenueTableTextBlock_z3tZKdudbUfa" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details 1)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B2_znQIM1QCbsj7" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Schedule of Revenue disaggregated</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Revenue from intelligent computing power service</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">6,546,249</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">14,664,937</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Revenue from comprehensive data center service</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">469,263</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">157,862</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Total</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">7,015,512</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">14,822,799</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table> r. Contract liabilities The Company receives advance payments from its customers for services to be provided in the future. These payments are recorded as contract liabilities on the balance sheet within “Contract liabilities”. Contract liabilities are recognized when consideration is received from a customer prior to the Company satisfying its related performance obligations. For these service contracts, the Company recognizes revenue, and reduces the contract liabilities, over time as the services are rendered and the performance obligations are satisfied. Revenue recognized during the years ended June 30, 2025 and 2026 that was included in the contract liability balance at the beginning of the year was $95,326 and $392,152, respectively. s. Cost of revenues The Company’s cost of revenues primarily includes computing power service, professional service fees and staff costs and employee benefits. All the cost of revenues are recognized in the period in which the related services occur or the benefits are received. t. Selling and marketing expenses The Company’s selling and marketing expenses primarily include: (i) advertising and promotion expenses, (ii) staff costs, employee benefits and share-based compensation, and (iii) travel and other routine office expenses. All expenses are recognized in the period in which the related services occur or the benefits are received. The Company expenses advertising costs as incurred, and for the years ended June 30, 2025 and 2026, the Company incurred advertising and promotion expenses of $157,388 and $80,910, respectively. u. Research and development expenses The Company’s research and development expenses mainly consist of software development outsourcing service fees, server cost, staff costs and employee benefits, and testing expenses. v. General and administrative expenses The Company’s general and administrative expenses mainly consist of staff costs and employee benefits, professional service fees, depreciation expenses and other operating expenses. w. Other income The Company safeguards its USDC through a third-party custodian. The Company’s other income represents the yield of USDC the Company earned through participation in a third-party custodian service. x. Income tax Income taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their consolidated financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the consolidated financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. y. Capital structure The Company is authorized to issue 1,500 shares of common stock of $0.01 par value each. As of June 30, 2025, there were 1,500 shares issued and outstanding. Pursuant to the resolution of the board of directors on January 8, 2026, the authorized share capital of 1,500 shares of common stock was re-designated to 303 shares of Class A common stock and 1,197 shares of Class B common stock. Holders of Class A common stock and Class B common stock have the same rights, except for voting and conversion rights. Each share of Class A common stock is entitled to one vote; and each share of Class B common stock is entitled to twenty votes and is convertible into one share of Class A common stock at any time by the holder thereof and upon transfer by the holder thereof other than certain permitted transfers. Class A common stock are not convertible into Class B common stock under any circumstances. Furthermore, all outstanding warrants, options, SAFEs and other convertible securities are designated to convert or settle exclusively into Class A common stock. As of June 30, 2026, there were 303 shares of Class A common stock and 1,197 shares of Class B common stock outstanding. z. Share-based compensation The Company grants share options of the Company to eligible employees and non-employees. The Company accounts for share-based awards issued to employees and non-employees in accordance with ASC Topic 718 Compensation – Stock Compensation. The Company recognizes forfeitures as they occur. The share-based compensation expenses have been categorized as either general and administrative expenses or selling and marketing expenses, depending on the job functions of the grantees. The Company’s share-based compensation awards are expected to be settled through transfers of existing shares of common stock held by the controlling shareholder, rather than through the issuance of new shares by the Company. The underlying shares of common stock are included in issued and outstanding shares as of the balance sheet date; accordingly, such settlement is not expected to increase the Company’s total issued and outstanding shares. Employees’ share-based awards and non-employees’ share-based awards are measured at the grant date fair value of the awards and recognized as expenses a) immediately at grant date if no vesting conditions are required; or b) using graded vesting method, net of estimated forfeitures, over the requisite service period, which is the vesting period. The Company employs discounted cash flow method to determine the fair value of the Company’s share-based compensation arrangements, where the key valuation variables include risk free rate, discount rate, and perpetual rate. aa. Segment reporting ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in consolidated financial statements for details on the Company’s business segments. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker (“CODM”) for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. The Company’s CODM is the chief executive officer. The CODM regularly reviews consolidated operating results and reviews consolidated revenues and net loss when making decisions about allocating resources and assessing performance of the segment, and hence, the Company has only one reportable segment. Therefore, as the Company has determined it operates as a single reportable segment, the CODM assesses the Company’s performance and results of operations on a consolidated basis. bb. Related parties Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation. cc. Comprehensive loss Comprehensive loss is defined as a change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company’s comprehensive loss was the same as its reported net loss for all periods presented. dd. Loss per share Basic net loss per share of common stock attributable to common shareholders is calculated by dividing net loss attributable to common shareholders by the weighted-average shares of common stock outstanding for the period. Potentially dilutive shares, which are based on the weighted-average shares of common stock underlying outstanding share-based awards or options using the treasury stock method or the if-converted method, as applicable, are included when calculating diluted net income per share of common stock attributable to common shareholders when their effect is dilutive. Diluted net loss per share attributable to common shareholders is computed by adjusting the weighted-average number of shares of common stock outstanding for the dilutive effect of all potential common stock equivalents. These potential shares are included in the diluted earnings per share calculation only when their effect is dilutive. In periods where the Company reports a net loss, diluted net loss per share is calculated in the same manner as basic net loss per share because the inclusion of any potential common stock would have an anti-dilutive effect. The Company had no potential common stock equivalents outstanding during the periods presented. Consequently, no potential common stock equivalents were included in the calculation for the years in which a net loss was incurred. ee. Dividends Dividends are recognized when declared. No dividends were declared for the year ended June 30, 2025 and 2026, respectively. The Company does not have any present plan to pay any dividends on its common stock in the foreseeable future. The Company currently intends to retain the available funds and any future earnings to operate and expand its business. ff. Emerging growth company The Company intends to operate as an “emerging growth company,” as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). The JOBS Act permits companies with emerging growth company status to take advantage of an extended transition period to comply with new or revised accounting standards, delaying the adoption of these accounting standards until such time as those standards would apply to private companies. The Company elected to use this extended transition period to enable it to comply with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the Company’s consolidated financial statements may not be comparable to companies that comply with the new or revised accounting standards as of public company effective dates. gg. Recently accounting pronouncements In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires entities to make incremental income tax disclosures on an annual basis. The amendments require that public business entities disclose specific categories in the rate reconciliation and provide additional information for reconciling items meeting a quantitative threshold. The amendments also require disclosure of income taxes paid to be disaggregated by jurisdiction, and the disclosure of income tax expense disaggregated by federal, state, and foreign. Amendments are effective for annual periods beginning after December 15, 2025 and thereafter, with early adoption permitted. The Company is currently evaluating the impact of the new accounting pronouncements or guidance on the consolidated financial statements. The Company will adopt this ASU for the fiscal year beginning July 1, 2026. In July 2025, the FASB issued Accounting Standards Update (ASU) No. 2025-05, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The amendment provides (1) all entities with a practical expedient to assume that current conditions as of the balance sheet date do not change for the remaining life of the assets and (2) entities other than public business entities with an accounting policy election to consider collection activity after the balance sheet date when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606. This guidance is effective for annual reporting periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact of the new accounting pronouncements or guidance on the consolidated financial statements. The Company will adopt this ASU for the fiscal year beginning July 1, 2026. In November 2024, the FASB issued ASU 2024-03 “Income Statement—Reporting comprehensive (loss) income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”). The amendments in this update intend to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses (including purchases of inventory, employee compensation, depreciation, amortization, and depletion) in commonly presented expense captions (such as cost of sales, selling, general and administrative expenses, and research and development). ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. The Company is currently evaluating the impact from the adoption of this ASU on its consolidated financial statements. The Company will adopt this ASU for its annual report for the fiscal year beginning July 1, 2027 and for interim reports for periods beginning July 1, 2028. In January 2025, the FASB issued Accounting Standards Update (ASU) No. 2025-01, Income Statement — Reporting comprehensive (loss) income — Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. The amendment clarifies the effective date of ASU No. 2024-03 that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption of Update 2024-03 is permitted. The Company is currently evaluating the impact of the above new accounting pronouncements or guidance on the consolidated financial statements. The Company will adopt this ASU for its annual report for the fiscal year beginning July 1, 2027 and for interim reports for periods beginning July 1, 2028. In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Accounting for and Disclosure of Software Costs (“ASU 2025-06”), which amends certain aspects of the accounting for and disclosure of internal-use software costs. ASU 2025-06 is effective for annual reporting periods beginning with the year ending December 31, 2028, with early adoption permitted. The Company is currently evaluating the impact of the above new accounting pronouncements or guidance on the consolidated financial statements. The Company will adopt this ASU for the fiscal year beginning July 1, 2028. Except as mentioned above, the Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the balance sheets, statements of income and comprehensive loss and cash flows.

a. Going concern As of June 30, 2026, the Company had cash and U.S. Dollar Coin (“USDC”) of $4.9 2,693,586 million and current liabilities of $31.9 31,885,500 million. For the years ended June 30, 2025 and 2026, the Company used $1.0 (1,010,799) million and $2.8 (2,754,624) million in operating activities. The Company incurred net losses of $7.7 (7,659,667) million and $12.2 (12,162,391) million for these respective periods. Since inception, the Company has incurred recurring net losses from operations and negative cash flows from operating activities. As of June 30, 2026, the Company had an accumulated deficit of $25.4 (25,379,426) million. These factors raised substantial doubt regarding the Company’s ability to continue as a going concern within one year of the date these consolidated financial statements were issued. On August 27, 2026, the Company consummated the Business Combination. Upon the closing of the Business Combination, all outstanding SAFEs of the Company were converted into PubCo Class A common stock in accordance with their terms, eliminating SAFE liabilities that totaled approximately $29.1 million as of June 30, 2026. In connection with the closing of the Business Combination, the Company obtained access to cash proceeds of approximately $11.8 million retained from the Business Combination. In addition, between July 1, 2026 and August 27, 2026, an investor provided the Company with $1.0 million in the form of a SAFE, which was also converted into PubCo Class A common stock upon the closing of the Business Combination. Management has prepared a cash flow forecast covering the twelve-month period following the date that these consolidated financial statements are issued. The forecast considers the liquidity provided by the De-SPAC transaction, conversion of SAFE instruments on the closing of the Business Combination, as well as management’s operating plans and expectations, including the Company’s continued focus on expanding its market presence and developing client relationships to drive revenue growth and managing operating expenses, with the objective of improving cash flows from operations over time. Based on this forecast, management believes that the Company will have sufficient liquidity to fund its ongoing operations and anticipated working capital requirements for a period of at least twelve months after the date that these consolidated financial statements are issued. Accordingly, management has concluded that the substantial doubt about the Company’s ability to continue as a going concern has been alleviated. These consolidated financial statements have been prepared on a going concern basis, and no adjustments are required to the carrying amounts or classification of assets and liabilities in the financial statements.

2693586

31885500

-1010799

-2754624

-7659667

-12162391

-25379426

29100000

11800000

b. Basis of presentation The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”).

c. Use of estimates and assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Management believes that the estimates used in preparing the consolidated financial statements are reasonable and prudent; however, actual results could differ from these estimates under different assumptions or conditions. Significant accounting estimates include recognition and measurement of SAFEs notes, recognition and measurement of the allowance for expected credit losses, deferred tax assets and valuation allowance.

d. Fair value measurements In accordance with FASB ASC 820 Fair Value Measurements and Disclosures, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses a three-level hierarchy for fair value measurements of certain assets and liabilities for financial reporting purposes that distinguishes between market participant assumptions developed from market data obtained from outside sources (observable inputs) and the Company’s own assumptions about market participant assumptions developed from the best information available to us in the circumstances (unobservable inputs). The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace. Level 3: Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation. The fair value measurements discussed herein are based upon certain market assumptions and pertinent information available to management during the years ended June 30, 2025 and 2026. The carrying amount of cash and cash equivalents, accounts receivable, refundable deposits receivable, other receivables, accounts payable, refundable deposits payable and other current liabilities approximated their fair values as of June 30, 2025 and 2026. For the years ended June 30, 2025 and 2026, the Company carried SAFEs and digital assets at their fair value (see Note 4-Fair Value Measurements for fair value information).

e. Functional currency The accompanying consolidated financial statements are presented in the United States dollar (“US$”). The functional currency of the Company and its subsidiary is the US$. All transactions are measured and recorded in the Company’s functional currency.

f. Cash and cash equivalents The Company considers all highly liquid investments instruments purchased with a maturity period of three months or less to be cash or cash equivalents. The carrying amounts reported in the accompanying balance sheets for cash and cash equivalents approximate their fair value. As of June 30, 2025 and 2026, the Company does not have any cash equivalents.

g. Crypto assets The Company’s crypto assets classified in current assets are held primarily for use in the ordinary course of business which is expected to be actively utilized or converted within the normal operating cycle and such crypto assets can be sold in a highly liquid marketplace. During the year ended June 30, 2026, the Company only held crypto assets of Tether USD (“USDT”) and USDC, which are principally funded by SAFE investors and as a form of collection from revenue transactions. The Company’s crypto assets are held with a qualified third-party custodian who provide secure storage and safeguarding of the Company’s crypto assets. USDC USDC is a stablecoin redeemable on a one-to-one basis for U.S. dollars and is accounted for as a financial instrument in the consolidated balance sheets. Crypto assets other than USDC On December 13, 2023, the FASB issued ASU 2023-08, which addresses the accounting and disclosure requirements for certain cryptocurrencies. The new guidance requires entities to subsequently measure certain cryptocurrencies at fair value, with changes in fair value recorded in net income in each reporting period. The Company applied the ASU since its holding of crypto assets in December 2025. Digital assets that are received as noncash consideration in the Company’s revenue arrangements and paid in purchases of professional service and others are presented as cash flows from operating activities in other operating activities settled in digital assets and USDC. Digital assets that are received in the Company’s revenue arrangements and sold for cash within seven days are presented as cash flows from operating activities, while other digital asset activity held longer than seven days is reflected as cash flows from investing activities under disposal of digital assets and USDC held in the consolidated statements of cash flows. The Company presents crypto assets other than USDC separately from other intangible assets and USDC, recorded as digital assets on the consolidated balance sheets. For the year ended June 30, 2026, the Company recorded receipt and disbursement of digital assets amounted to $991,601 and $991,601, respectively, which resulted in an ending balance of nil. The Company’s balances related to digital assets and stablecoins during the period included USDT and USDC, both of which are USD-pegged stablecoins. No fair value gain or loss on digital assets was recognized for the year ended June 30, 2026 considering the low volatility in the fair value of digital assets during the year ended June 30, 2026. 991601 991601 0 h. Expected credit loss and accounts receivable The Company adopted Financial Standards Accounting Board (“FASB”) Accounting Standards Codification (“ASC”) 326 “Financial Instruments — Credit Losses” (“ASC 326”) on July 1, 2023. The Company’s accounts receivable are within the scope of ASC 326. ASC 326 introduces an approach based on expected credit losses on financial assets at amortized cost. Upon adoption of ASC 326, the Company estimates the expected credit losses for accounts receivable using the roll-rate method on a collective basis when similar risk characteristics exist. Expected credit losses are included in general and administrative expenses in the consolidated statements of operations and comprehensive loss. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Accounts receivable represents those receivables derived in the ordinary course of business, net of an allowance for any potentially uncollectible amounts. The Company makes estimates of expected credit and collectability trends for the allowance for credit losses based upon its assessment of various factors, including historical experience, the age of the accounts receivable balances, credit quality of its customers, current economic conditions, reasonable and supportable forecasts of future economic conditions that may vary by geography, customer-type, or industry sub-vertical, and other factors that may affect its ability to collect from customers. Although the Company has historically not experienced significant credit losses, they may experience increasing credit loss risks from accounts receivable in future periods if its customers are adversely affected by economic pressures or uncertainty associated with local or global economic recessions, or other customer-specific factors, and actual experience in the future may differ from their past experiences or current assessment. i. Deferred offering costs The Company follows the requirements of FASB ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A — “Expenses of Offering”. Deferred offering costs consist of underwriting, legal, and other professional expenses incurred through the balance sheet date that are directly related to the intended De-SPAC Transaction. These costs will be charged to shareholders’ equity, netted against the proceeds, upon the completion of the Business Combination. Should the transaction prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred, will be charged to the statements of operations and comprehensive loss. As of June 30, 2025 and 2026, the Company deferred nil and $190,000 of transaction costs, respectively.

190000

j. Advance to suppliers Advance to suppliers represent prepayments made to vendors in connection with the purchase of services. Advance is recorded at the amount paid and are classified as current assets when the related services are expected to be received within one year or the normal operating cycle. k. Refundable deposits receivable Refundable deposits receivable mainly represents security deposits and refundable cooperation deposits paid to suppliers and business partners that are contractually recoverable upon the completion of services. These amounts are recorded as assets when paid, generally at the amount paid. Deposits expected to be recovered within one year are classified as current; otherwise, they are classified as non-current. Allowance should be assessed under CECL, and write off when not recoverable. The Company evaluates the credit risk of refundable deposits receivable and recognizes an allowance for credit losses based on the current expected credit losses (“CECL”) model. Specific balances are written off when they are deemed uncollectible and all collection efforts have been exhausted. As of June 30, 2025 and 2026, no allowance for credit losses was recorded.

l. Other receivables Other receivables represent funds temporarily held in trust by an employee acting as the Company’s behalf. As of June 30, 2025 and 2026, the balance were $1,207,626 and 0 nil, respectively, primarily comprising proceeds from SAFEs agreements received via the employee and net of payments made to designated suppliers at the Company’s direction.

1207626

m. Equipment, net Equipment, net is stated at cost less accumulated depreciation and impairment, if any. Depreciation is computed using the straight-line method over the estimated useful lives of three or five years, depending on the asset category.

n. Refundable deposits payable Refundable deposits payable represent security payments received from a third party and customers, which are required for certain intelligent computing power service arrangements. As of June 30, 2025 and 2026, the balances were $1,445,580 and $359,481, respectively. 1445580 359481

o. Impairment of long-lived assets The Company reviews its long-lived assets, equipment, for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets held and used is measured by comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated from the use of the asset and its eventual disposition. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount exceeds the fair value of the impaired assets. Assets to be disposed of are reported at the lower of their carrying amount or fair value less cost to sell. There was no impairment of long-lived assets for the years ended June 30, 2025 and 2026.

p. Simple agreements for future equity SAFEs issued by the Company are freestanding financial instruments. As they contain certain redemption or liquidation features that may require the Company to settle the obligation in cash upon the occurrence of defined events (e.g., a change of control or dissolution), the instruments create an obligation that meets the definition of a liability. Accordingly, the SAFEs are classified in their entirety as liabilities on the consolidated balance sheets. These liabilities are measured at fair value upon initial recognition and are subsequently remeasured at fair value at each reporting date. All changes in their fair value are recognized in the consolidated statement of operations and comprehensive loss in the period in which they occur. q. Revenue recognition The Company applied ASC Topic 606 “Revenue from Contracts with Customers” (“ASC 606”) for all periods presented. The five-step model defined by ASC 606 requires the Company to (i) identify its contracts with clients, (ii) identify its performance obligations under those contracts, (iii) determine the transaction prices of those contracts, (iv) allocate the transaction prices to its performance obligations in those contracts, and (v) recognize revenue when each performance obligation under those contracts is satisfied. Revenue is recognized when promised goods or services are transferred to the client in an amount that reflects the consideration expected in exchange for those goods or services. The Company reports all of its revenues on a gross basis. This determination is based on the Company’s assessment that it is the principal in its revenue arrangements. The Company controls the service delivery platform and infrastructure before the service is provided to the customer. It is primarily responsible for fulfilling the service promise, has discretion in setting prices, and assumes the credit risk associated with the customer receivable. As a practical expedient, the Company elected to expense the incremental costs of obtaining a contract when incurred if the amortization period of the asset that the Company otherwise would have recognized is one year or less. Pursuant to ASC 606, the Company recognizes revenue based on the transaction price, which is the amount of consideration it expects to be entitled to exchange for transferring services to customers. For Intelligent Computing Power Services, contract consideration is generally fixed and is typically stated as a fixed monthly fee determined by (i) the contractually specified number of GPUs (capacity) and (ii) the service period. Accordingly, the transaction price is generally the fixed contractual amount. The Company recognizes revenue over time as the services are provided throughout the contract term. The Company offers payment terms ranging from 0 to 6 months, depending on customers’ credit profiles and service requirements. The Company does not provide warranties for its services and does not offer service-type warranty arrangements. The following is a description of the principal activities of the Company from which the Company generates its revenue under ASC 606. (i) Revenue for intelligent computing power service The Company leverages its expertise in high-performance computing and cloud-native architectures to build and operate stable, efficient, and scalable GPU computing platforms through modular data center design and liquid cooling technology. The Company uses these platforms to provide computing resources for large-scale AI training, model inference, and high-performance scientific computing to commercial enterprise clients with substantial GPU computing requirements. Supporting services include GPU server environment deployment, cluster scheduling and performance optimization, high-speed network interconnection, real-time monitoring and intelligent alerting systems, as well as industry-compliant security and regulatory assurance. The Company accounts for the above promises as a single performance obligation because they are highly integrated and not separately identifiable in the context of the contract. The Company provides an integrated, managed GPU computing platform in which computing capacity, deployment/configuration, scheduling, networking, monitoring, and security/compliance are interdependent and together deliver a single combined service—continuous access to a functioning and secured platform over the contractual term. The Company provides intelligent computing power services under two pricing models: (i) reserved capacity arrangements and (ii) on-demand (pay-as-you-go) arrangements. The following table presents revenue recognized during the period by arrangement type: <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--ScheduleOfRevenueRecognitionTableTextBlock_zkCLF9ZPExGf" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B7_zLkCItVFLvu6" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Schedule of Revenue recognition</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Reserved capacity arrangements</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_903_eus-gaap--Revenues_c20240701__20250630__srt--ProductOrServiceAxis__custom--RevenueFromIntelligentComputingPowerServiceMember__us-gaap--TransactionTypeAxis__custom--ReservedCapacityArrangementsMember_pp0p" title="Revenues">6,501,569</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_901_eus-gaap--Revenues_c20250701__20260630__srt--ProductOrServiceAxis__custom--RevenueFromIntelligentComputingPowerServiceMember__us-gaap--TransactionTypeAxis__custom--ReservedCapacityArrangementsMember_pp0p" title="Revenues">14,652,429</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">On-demand arrangements</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right"><span id="xdx_905_eus-gaap--Revenues_c20240701__20250630__srt--ProductOrServiceAxis__custom--RevenueFromIntelligentComputingPowerServiceMember__us-gaap--TransactionTypeAxis__custom--OnDemandArrangementsMember_pp0p" title="Revenues">44,680</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right"><span id="xdx_907_eus-gaap--Revenues_c20250701__20260630__srt--ProductOrServiceAxis__custom--RevenueFromIntelligentComputingPowerServiceMember__us-gaap--TransactionTypeAxis__custom--OnDemandArrangementsMember_pp0p" title="Revenues">12,508</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Total</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">6,546,249</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">14,664,937</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table> Reserved capacity arrangements The Company enters into reserved capacity arrangements, which generally provide committed intelligent computing power services for a defined service term ranging from 3 months to 3 years, with the majority of such arrangements having a one-year term. These contracts typically are non-cancelable, or may be canceled only under limited conditions with early notifications required. Payment terms generally range from 0-6 months upon the completion of services, and certain arrangements require prepayments. Any prepayments are recorded as contract liabilities and recognized over the service term. The performance obligation is satisfied over time because the customer simultaneously receives and consumes the benefits. Revenue is recognized using a time-elapsed output method over the contractual service period. On-demand (pay-as-you-go) arrangements The Company provides customers with on-demand access to intelligent computing power and GPU resources under pay-as-you-go model which requires advance payment. Customer advances are recorded as contract liabilities and recognized as revenue over the time during the provision of related services underlying the contract term. The revenue is recognized over time because the customer can simultaneously receive and consume the benefits during the service period. These arrangements generally do not include a fixed contractual term or minimum usage commitments. (ii) Revenue from comprehensive data center service The Company leverages its project experience in infrastructure management, cluster optimization, and system monitoring to provide full-cycle operational support to data center asset owners. Services encompass facility environment deployment, network architecture implementation, security and compliance system development, daily operational monitoring, and emergency fault response. Revenue is recognized over time because the Company’s services are performed throughout the contract term and the customer benefits as the services are provided. For the years ended June 30, 2025 and 2026, $7,015,512 and $14,822,799 of the revenue of the Company was recognized over time, respectively. Revenue disaggregated by service lines for the years ended June 30, 2025 and 2026 was disclosed in the table below: <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--DisaggregationOfRevenueTableTextBlock_z3tZKdudbUfa" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details 1)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B2_znQIM1QCbsj7" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Schedule of Revenue disaggregated</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Revenue from intelligent computing power service</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">6,546,249</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">14,664,937</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Revenue from comprehensive data center service</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">469,263</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">157,862</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Total</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">7,015,512</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">14,822,799</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--ScheduleOfRevenueRecognitionTableTextBlock_zkCLF9ZPExGf" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B7_zLkCItVFLvu6" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Schedule of Revenue recognition</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Reserved capacity arrangements</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_903_eus-gaap--Revenues_c20240701__20250630__srt--ProductOrServiceAxis__custom--RevenueFromIntelligentComputingPowerServiceMember__us-gaap--TransactionTypeAxis__custom--ReservedCapacityArrangementsMember_pp0p" title="Revenues">6,501,569</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_901_eus-gaap--Revenues_c20250701__20260630__srt--ProductOrServiceAxis__custom--RevenueFromIntelligentComputingPowerServiceMember__us-gaap--TransactionTypeAxis__custom--ReservedCapacityArrangementsMember_pp0p" title="Revenues">14,652,429</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">On-demand arrangements</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right"><span id="xdx_905_eus-gaap--Revenues_c20240701__20250630__srt--ProductOrServiceAxis__custom--RevenueFromIntelligentComputingPowerServiceMember__us-gaap--TransactionTypeAxis__custom--OnDemandArrangementsMember_pp0p" title="Revenues">44,680</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right"><span id="xdx_907_eus-gaap--Revenues_c20250701__20260630__srt--ProductOrServiceAxis__custom--RevenueFromIntelligentComputingPowerServiceMember__us-gaap--TransactionTypeAxis__custom--OnDemandArrangementsMember_pp0p" title="Revenues">12,508</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Total</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">6,546,249</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">14,664,937</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table>

6501569

14652429

44680

12508

6546249

14664937

7015512

14822799

<table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--DisaggregationOfRevenueTableTextBlock_z3tZKdudbUfa" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of significant accounting policies (Details 1)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B2_znQIM1QCbsj7" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Schedule of Revenue disaggregated</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Revenue from intelligent computing power service</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">6,546,249</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">14,664,937</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Revenue from comprehensive data center service</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">469,263</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">157,862</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Total</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">7,015,512</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">14,822,799</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table>

6546249

14664937

469263

157862

7015512

14822799

r. Contract liabilities The Company receives advance payments from its customers for services to be provided in the future. These payments are recorded as contract liabilities on the balance sheet within “Contract liabilities”. Contract liabilities are recognized when consideration is received from a customer prior to the Company satisfying its related performance obligations. For these service contracts, the Company recognizes revenue, and reduces the contract liabilities, over time as the services are rendered and the performance obligations are satisfied. Revenue recognized during the years ended June 30, 2025 and 2026 that was included in the contract liability balance at the beginning of the year was $95,326 and $392,152, respectively. 95326 392152

s. Cost of revenues The Company’s cost of revenues primarily includes computing power service, professional service fees and staff costs and employee benefits. All the cost of revenues are recognized in the period in which the related services occur or the benefits are received.

t. Selling and marketing expenses The Company’s selling and marketing expenses primarily include: (i) advertising and promotion expenses, (ii) staff costs, employee benefits and share-based compensation, and (iii) travel and other routine office expenses. All expenses are recognized in the period in which the related services occur or the benefits are received. The Company expenses advertising costs as incurred, and for the years ended June 30, 2025 and 2026, the Company incurred advertising and promotion expenses of $157,388 and $80,910, respectively.

157388

80910

u. Research and development expenses The Company’s research and development expenses mainly consist of software development outsourcing service fees, server cost, staff costs and employee benefits, and testing expenses.

v. General and administrative expenses The Company’s general and administrative expenses mainly consist of staff costs and employee benefits, professional service fees, depreciation expenses and other operating expenses.

w. Other income The Company safeguards its USDC through a third-party custodian. The Company’s other income represents the yield of USDC the Company earned through participation in a third-party custodian service.

x. Income tax Income taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their consolidated financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the consolidated financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.

y. Capital structure The Company is authorized to issue 1,500 shares of common stock of $0.01 par value each. As of June 30, 2025, there were 1,500 shares issued and outstanding. Pursuant to the resolution of the board of directors on January 8, 2026, the authorized share capital of 1,500 shares of common stock was re-designated to 303 shares of Class A common stock and 1,197 shares of Class B common stock. Holders of Class A common stock and Class B common stock have the same rights, except for voting and conversion rights. Each share of Class A common stock is entitled to one vote; and each share of Class B common stock is entitled to twenty votes and is convertible into one share of Class A common stock at any time by the holder thereof and upon transfer by the holder thereof other than certain permitted transfers. Class A common stock are not convertible into Class B common stock under any circumstances. Furthermore, all outstanding warrants, options, SAFEs and other convertible securities are designated to convert or settle exclusively into Class A common stock. As of June 30, 2026, there were 303 shares of Class A common stock and 1,197 shares of Class B common stock outstanding.

1500

0.01

1500

303

1197

303

1197

z. Share-based compensation The Company grants share options of the Company to eligible employees and non-employees. The Company accounts for share-based awards issued to employees and non-employees in accordance with ASC Topic 718 Compensation – Stock Compensation. The Company recognizes forfeitures as they occur. The share-based compensation expenses have been categorized as either general and administrative expenses or selling and marketing expenses, depending on the job functions of the grantees. The Company’s share-based compensation awards are expected to be settled through transfers of existing shares of common stock held by the controlling shareholder, rather than through the issuance of new shares by the Company. The underlying shares of common stock are included in issued and outstanding shares as of the balance sheet date; accordingly, such settlement is not expected to increase the Company’s total issued and outstanding shares. Employees’ share-based awards and non-employees’ share-based awards are measured at the grant date fair value of the awards and recognized as expenses a) immediately at grant date if no vesting conditions are required; or b) using graded vesting method, net of estimated forfeitures, over the requisite service period, which is the vesting period. The Company employs discounted cash flow method to determine the fair value of the Company’s share-based compensation arrangements, where the key valuation variables include risk free rate, discount rate, and perpetual rate.

aa. Segment reporting ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in consolidated financial statements for details on the Company’s business segments. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker (“CODM”) for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. The Company’s CODM is the chief executive officer. The CODM regularly reviews consolidated operating results and reviews consolidated revenues and net loss when making decisions about allocating resources and assessing performance of the segment, and hence, the Company has only one reportable segment. Therefore, as the Company has determined it operates as a single reportable segment, the CODM assesses the Company’s performance and results of operations on a consolidated basis.

bb. Related parties Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation. cc. Comprehensive loss Comprehensive loss is defined as a change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company’s comprehensive loss was the same as its reported net loss for all periods presented.

dd. Loss per share Basic net loss per share of common stock attributable to common shareholders is calculated by dividing net loss attributable to common shareholders by the weighted-average shares of common stock outstanding for the period. Potentially dilutive shares, which are based on the weighted-average shares of common stock underlying outstanding share-based awards or options using the treasury stock method or the if-converted method, as applicable, are included when calculating diluted net income per share of common stock attributable to common shareholders when their effect is dilutive. Diluted net loss per share attributable to common shareholders is computed by adjusting the weighted-average number of shares of common stock outstanding for the dilutive effect of all potential common stock equivalents. These potential shares are included in the diluted earnings per share calculation only when their effect is dilutive. In periods where the Company reports a net loss, diluted net loss per share is calculated in the same manner as basic net loss per share because the inclusion of any potential common stock would have an anti-dilutive effect. The Company had no potential common stock equivalents outstanding during the periods presented. Consequently, no potential common stock equivalents were included in the calculation for the years in which a net loss was incurred.

ee. Dividends Dividends are recognized when declared. No dividends were declared for the year ended June 30, 2025 and 2026, respectively. The Company does not have any present plan to pay any dividends on its common stock in the foreseeable future. The Company currently intends to retain the available funds and any future earnings to operate and expand its business.

ff. Emerging growth company The Company intends to operate as an “emerging growth company,” as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). The JOBS Act permits companies with emerging growth company status to take advantage of an extended transition period to comply with new or revised accounting standards, delaying the adoption of these accounting standards until such time as those standards would apply to private companies. The Company elected to use this extended transition period to enable it to comply with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the Company’s consolidated financial statements may not be comparable to companies that comply with the new or revised accounting standards as of public company effective dates.

gg. Recently accounting pronouncements In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires entities to make incremental income tax disclosures on an annual basis. The amendments require that public business entities disclose specific categories in the rate reconciliation and provide additional information for reconciling items meeting a quantitative threshold. The amendments also require disclosure of income taxes paid to be disaggregated by jurisdiction, and the disclosure of income tax expense disaggregated by federal, state, and foreign. Amendments are effective for annual periods beginning after December 15, 2025 and thereafter, with early adoption permitted. The Company is currently evaluating the impact of the new accounting pronouncements or guidance on the consolidated financial statements. The Company will adopt this ASU for the fiscal year beginning July 1, 2026. In July 2025, the FASB issued Accounting Standards Update (ASU) No. 2025-05, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The amendment provides (1) all entities with a practical expedient to assume that current conditions as of the balance sheet date do not change for the remaining life of the assets and (2) entities other than public business entities with an accounting policy election to consider collection activity after the balance sheet date when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606. This guidance is effective for annual reporting periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact of the new accounting pronouncements or guidance on the consolidated financial statements. The Company will adopt this ASU for the fiscal year beginning July 1, 2026. In November 2024, the FASB issued ASU 2024-03 “Income Statement—Reporting comprehensive (loss) income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”). The amendments in this update intend to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses (including purchases of inventory, employee compensation, depreciation, amortization, and depletion) in commonly presented expense captions (such as cost of sales, selling, general and administrative expenses, and research and development). ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. The Company is currently evaluating the impact from the adoption of this ASU on its consolidated financial statements. The Company will adopt this ASU for its annual report for the fiscal year beginning July 1, 2027 and for interim reports for periods beginning July 1, 2028. In January 2025, the FASB issued Accounting Standards Update (ASU) No. 2025-01, Income Statement — Reporting comprehensive (loss) income — Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. The amendment clarifies the effective date of ASU No. 2024-03 that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption of Update 2024-03 is permitted. The Company is currently evaluating the impact of the above new accounting pronouncements or guidance on the consolidated financial statements. The Company will adopt this ASU for its annual report for the fiscal year beginning July 1, 2027 and for interim reports for periods beginning July 1, 2028. In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Accounting for and Disclosure of Software Costs (“ASU 2025-06”), which amends certain aspects of the accounting for and disclosure of internal-use software costs. ASU 2025-06 is effective for annual reporting periods beginning with the year ending December 31, 2028, with early adoption permitted. The Company is currently evaluating the impact of the above new accounting pronouncements or guidance on the consolidated financial statements. The Company will adopt this ASU for the fiscal year beginning July 1, 2028. Except as mentioned above, the Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the balance sheets, statements of income and comprehensive loss and cash flows.

3. Concentration and risk Custodian Risk The Company’s crypto assets are held exclusively with a single third-party custodian. Custodian risk refers to the potential loss, theft, or misappropriation of the Company’s assets held with its sole third-party custodian, due to the custodian’s operational failures, cybersecurity breaches, or financial difficulties experienced by the third-party custodian. The Company periodically monitor the financial health, insurance coverage, and security measures of the Company’s custodians, reliance on such third parties inherently exposes the Company to risks that the Company cannot fully mitigate. Concentration of credit risk Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents, accounts receivable and refundable deposits receivable. The Company performs ongoing credit evaluations of the customers’ financial condition and maintains an allowance for potential credit losses. This allowance consists of an amount identified for specific customers and an amount based on overall estimated exposure. The Company’s overall estimated exposure excludes amounts covered by credit insurance. Concentration of customers The Company’s revenue was concentrated among a limited number of customers during the periods presented. The following table summarized customers with greater than 10% of the total revenue: <table cellpadding="0" cellspacing="0" id="xdx_897_ecustom--ScheduleOfConcentrationOfCustomersTableTextBlock_zCigm1jF3xi4" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Concentration and risk (Details)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B7_zaAzDlOB3GM4" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of concentration of customers</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman"> </td> <td colspan="6" style="font: 10pt Times New Roman; text-align: center">For the</td> <td style="font: 10pt Times New Roman"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer A</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zYDh3TftNWYj" title="Concentration of credit risk">14.0</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">-**</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer B</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zLDJHmET6dI1" title="Concentration of credit risk">12.5</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_z9Ifwozhtlki" style="color: White" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer C</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerCMember_zkY0ng0iNlqj" title="Concentration of credit risk">10.2</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerCMember_zPcvYkxF7bYg" title="Concentration of credit risk">20.1</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer D</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerDMember_zy2Qigtsa2X5" style="color: White" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerDMember_zBbi7NxZq2X8" title="Concentration of credit risk">19.2</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; width: 0.25in; text-align: justify">**:</td> <td style="font: 10pt Times New Roman; text-align: justify">less than 10%</td> </tr> </table> The Company’s account receivable was concentrated among a limited number of customers during the periods presented. The following table summarized customers with greater than 10% of the total account receivable: <table cellpadding="0" cellspacing="0" id="xdx_894_ecustom--ScheduleOfAccountsReceivableTextBlock_zMocXWyjIb5h" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Concentration and risk (Details 1)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B0_zEvWuNlnfBc2" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of account receivable</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">As of June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer D</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerDMember_zINtdQPYALn2" style="color: rgb(204,238,255)" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerDMember_zprreXCI0uR5" title="Concentration of credit risk">10.2</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer E</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerEMember_zjEyCYBKYn88" title="Concentration of credit risk">42.7</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerEMember_zpAGLi3sCtJh" style="color: White" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer F</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerFMember_z8yZzOm2FPo1" title="Concentration of credit risk">38.3</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerFMember_zUlHcZmxMLPa" style="color: rgb(204,238,255)" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer G</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerGMember_zHtNiWVn2QR6" title="Concentration of credit risk">19.0</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerGMember_zK6B0yOYNZ5h" style="color: White" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer H</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerHMember_zGTGsiIpv4Sk" style="color: rgb(204,238,255)" title="Concentration of credit risk">-*</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerHMember_zV6aTorEsG4" title="Concentration of credit risk">43.7</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer I</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerIMember_zPiEkngakvi3" style="color: White" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerIMember_zz4XAM4jivSf" title="Concentration of credit risk">12.8</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; width: 0.25in; text-align: justify">*:</td> <td style="font: 10pt Times New Roman; text-align: justify">nil, new customer for the year ended June 30, 2026</td> </tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; text-align: justify">**:</td> <td style="font: 10pt Times New Roman; text-align: justify">less than 10%</td> </tr> </table> Concentration of suppliers The Company’s purchases was concentrated among a limited number of suppliers during the periods presented. The following table summarized suppliers with greater than 10% of the total purchase: <table cellpadding="0" cellspacing="0" id="xdx_89C_ecustom--ScheduleOfConcentrationOfSuppliersTableTextBlock_zL6xjgymuPvk" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Concentration and risk (Details 2)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8BE_zNfM8fwaQzTg" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of concentration of suppliers</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier A</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__srt--MajorCustomersAxis__custom--SupplierAMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zH9F5waI4m3" title="Concentration of credit risk">41.4</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierAMember_zVajcz90AEGb" style="color: rgb(204,238,255)" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier B</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierBMember_zahwu298uSM1" title="Concentration of credit risk">31.7</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierBMember_zebTzUUxA1Hi" title="Concentration of credit risk">31.0</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier C</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierCMember_zDgYeSE8YJW4" title="Concentration of credit risk">18.4</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierCMember_z3Rjn71zWuQf" title="Concentration of credit risk">28.0</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier D</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierDMember_z8dXXrSgdeZc" style="color: White" title="Concentration of credit risk">-*</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierDMember_zVaOL512WDE" title="Concentration of credit risk">18.4</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier E</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierEMember_zHsHcd4iHbch" style="color: rgb(204,238,255)" title="Concentration of credit risk">-*</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierEMember_zbmnUz0BQyok" title="Concentration of credit risk">11.4</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; width: 0.25in; text-align: justify">*:</td> <td style="font: 10pt Times New Roman; text-align: justify">nil, new supplier for the year ended June 30, 2026</td> </tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; text-align: justify">**:</td> <td style="font: 10pt Times New Roman; text-align: justify">less than 10%</td> </tr> </table> The Company’s account payable was concentrated among a limited number of suppliers during the periods presented. The following table summarized suppliers with greater than 10% of the total account payable: <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zbZoIAgrDbGc" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Concentration and risk (Details 3)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B9_zBbaImXxbqVl" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of account payable</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">As of June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier F</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_901_ecustom--ConcentrationRiskPercentage_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierFMember_z7ZyI2qsGrS4" title="Concentration of credit risk">54.9</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_905_ecustom--ConcentrationRiskPercentage_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierFMember_zxy1gSdE8uN6" style="color: rgb(204,238,255)" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier G</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90E_ecustom--ConcentrationRiskPercentage_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierGMember_zNguTBqigok8" title="Concentration of credit risk">32.3</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_900_ecustom--ConcentrationRiskPercentage_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierGMember_zJGRqAhPWAOb" style="color: White" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier C</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90E_ecustom--ConcentrationRiskPercentage_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierCMember_zVXLgbhulOI1" title="Concentration of credit risk">12.1</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90A_ecustom--ConcentrationRiskPercentage_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierCMember_zmuGNJGLGnij" title="Concentration of credit risk">77.3</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier B</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90D_ecustom--ConcentrationRiskPercentage_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierBMember_zUvxym0ALr8g" style="color: White" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_909_ecustom--ConcentrationRiskPercentage_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierBMember_zj8dpPLUkBg8" title="Concentration of credit risk">12.4</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier E</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90F_ecustom--ConcentrationRiskPercentage_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierEMember_z3IFqSdEnht3" style="color: rgb(204,238,255)" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_909_ecustom--ConcentrationRiskPercentage_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierEMember_zihR6bVuuEC8" title="Concentration of credit risk">10.3</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; width: 0.25in; text-align: justify">**:</td> <td style="font: 10pt Times New Roman; text-align: justify">less than 10%</td> </tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_897_ecustom--ScheduleOfConcentrationOfCustomersTableTextBlock_zCigm1jF3xi4" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Concentration and risk (Details)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B7_zaAzDlOB3GM4" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of concentration of customers</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman"> </td> <td colspan="6" style="font: 10pt Times New Roman; text-align: center">For the</td> <td style="font: 10pt Times New Roman"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer A</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zYDh3TftNWYj" title="Concentration of credit risk">14.0</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">-**</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer B</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zLDJHmET6dI1" title="Concentration of credit risk">12.5</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_z9Ifwozhtlki" style="color: White" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer C</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerCMember_zkY0ng0iNlqj" title="Concentration of credit risk">10.2</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerCMember_zPcvYkxF7bYg" title="Concentration of credit risk">20.1</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer D</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerDMember_zy2Qigtsa2X5" style="color: White" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerDMember_zBbi7NxZq2X8" title="Concentration of credit risk">19.2</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; width: 0.25in; text-align: justify">**:</td> <td style="font: 10pt Times New Roman; text-align: justify">less than 10%</td> </tr> </table>

0.140

0.125

0.102

0.201

0.192

<table cellpadding="0" cellspacing="0" id="xdx_894_ecustom--ScheduleOfAccountsReceivableTextBlock_zMocXWyjIb5h" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Concentration and risk (Details 1)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B0_zEvWuNlnfBc2" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of account receivable</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">As of June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer D</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerDMember_zINtdQPYALn2" style="color: rgb(204,238,255)" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerDMember_zprreXCI0uR5" title="Concentration of credit risk">10.2</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer E</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerEMember_zjEyCYBKYn88" title="Concentration of credit risk">42.7</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerEMember_zpAGLi3sCtJh" style="color: White" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer F</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerFMember_z8yZzOm2FPo1" title="Concentration of credit risk">38.3</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerFMember_zUlHcZmxMLPa" style="color: rgb(204,238,255)" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer G</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerGMember_zHtNiWVn2QR6" title="Concentration of credit risk">19.0</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerGMember_zK6B0yOYNZ5h" style="color: White" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer H</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerHMember_zGTGsiIpv4Sk" style="color: rgb(204,238,255)" title="Concentration of credit risk">-*</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerHMember_zV6aTorEsG4" title="Concentration of credit risk">43.7</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Customer I</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerIMember_zPiEkngakvi3" style="color: White" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerIMember_zz4XAM4jivSf" title="Concentration of credit risk">12.8</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; width: 0.25in; text-align: justify">*:</td> <td style="font: 10pt Times New Roman; text-align: justify">nil, new customer for the year ended June 30, 2026</td> </tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; text-align: justify">**:</td> <td style="font: 10pt Times New Roman; text-align: justify">less than 10%</td> </tr> </table>

0.102

0.427

0.383

0.190

0.437

0.128

<table cellpadding="0" cellspacing="0" id="xdx_89C_ecustom--ScheduleOfConcentrationOfSuppliersTableTextBlock_zL6xjgymuPvk" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Concentration and risk (Details 2)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8BE_zNfM8fwaQzTg" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of concentration of suppliers</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier A</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__srt--MajorCustomersAxis__custom--SupplierAMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zH9F5waI4m3" title="Concentration of credit risk">41.4</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierAMember_zVajcz90AEGb" style="color: rgb(204,238,255)" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier B</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierBMember_zahwu298uSM1" title="Concentration of credit risk">31.7</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierBMember_zebTzUUxA1Hi" title="Concentration of credit risk">31.0</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier C</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierCMember_zDgYeSE8YJW4" title="Concentration of credit risk">18.4</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierCMember_z3Rjn71zWuQf" title="Concentration of credit risk">28.0</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier D</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierDMember_z8dXXrSgdeZc" style="color: White" title="Concentration of credit risk">-*</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierDMember_zVaOL512WDE" title="Concentration of credit risk">18.4</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier E</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierEMember_zHsHcd4iHbch" style="color: rgb(204,238,255)" title="Concentration of credit risk">-*</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierEMember_zbmnUz0BQyok" title="Concentration of credit risk">11.4</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; width: 0.25in; text-align: justify">*:</td> <td style="font: 10pt Times New Roman; text-align: justify">nil, new supplier for the year ended June 30, 2026</td> </tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; text-align: justify">**:</td> <td style="font: 10pt Times New Roman; text-align: justify">less than 10%</td> </tr> </table>

0.414

0.317

0.310

0.184

0.280

0.184

0.114

<table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zbZoIAgrDbGc" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Concentration and risk (Details 3)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B9_zBbaImXxbqVl" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of account payable</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">As of June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier F</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_901_ecustom--ConcentrationRiskPercentage_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierFMember_z7ZyI2qsGrS4" title="Concentration of credit risk">54.9</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"><span id="xdx_905_ecustom--ConcentrationRiskPercentage_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierFMember_zxy1gSdE8uN6" style="color: rgb(204,238,255)" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier G</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90E_ecustom--ConcentrationRiskPercentage_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierGMember_zNguTBqigok8" title="Concentration of credit risk">32.3</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_900_ecustom--ConcentrationRiskPercentage_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierGMember_zJGRqAhPWAOb" style="color: White" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier C</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90E_ecustom--ConcentrationRiskPercentage_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierCMember_zVXLgbhulOI1" title="Concentration of credit risk">12.1</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90A_ecustom--ConcentrationRiskPercentage_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierCMember_zmuGNJGLGnij" title="Concentration of credit risk">77.3</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier B</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90D_ecustom--ConcentrationRiskPercentage_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierBMember_zUvxym0ALr8g" style="color: White" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_909_ecustom--ConcentrationRiskPercentage_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierBMember_zj8dpPLUkBg8" title="Concentration of credit risk">12.4</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Supplier E</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_90F_ecustom--ConcentrationRiskPercentage_dp_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierEMember_z3IFqSdEnht3" style="color: rgb(204,238,255)" title="Concentration of credit risk">-**</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"><span id="xdx_909_ecustom--ConcentrationRiskPercentage_dp_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierEMember_zihR6bVuuEC8" title="Concentration of credit risk">10.3</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; width: 0.25in; text-align: justify">**:</td> <td style="font: 10pt Times New Roman; text-align: justify">less than 10%</td> </tr> </table>

0.549 0.323 0.121 0.773 0.124 0.103

4. Fair value measurements As of June 30, 2025 and 2026, information about inputs into the fair value measurement of the Company’s assets and liabilities that are measured at fair value on a recurring basis in periods subsequent to their initial recognition is as follows: <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zhxYnM9H7Lt7" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Fair value measurements (Details)"> <tr> <td id="xdx_8B5_zjPjGVSH7fOe" style="font: 10pt Times New Roman; display: none; vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Schedule of fair value assets and liabilities</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; padding-bottom: 0.5pt; vertical-align: top"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Fair value measurement at reporting date using</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; vertical-align: bottom; text-align: left">Description</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Fair value as of June 30, 2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Quoted Prices in Active Markets for Identical Assets (Level 1)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Significant Other Observable Inputs (Level 2)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Significant Unobservable Inputs (Level 3)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr> <td style="font: 10pt Times New Roman; vertical-align: top; background-color: #CCEEFF; text-align: left; padding-left: 0.125in; text-indent: -0.125in; width: 52%">Liabilities:</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 9%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 9%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 9%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 9%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> </tr> <tr> <td style="font: 10pt Times New Roman; vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Simple agreements for future equity(1)</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_901_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_z0S06p9rf5j9" title="Liability">18,243,885</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_90E_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_zulSkZKh1Ezi" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_907_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_zNU0JeqVorsa" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_902_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_zRV1LFttYZpd" title="Liability">18,243,885</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> </tr> <tr> <td style="font: 10pt Times New Roman; vertical-align: top; background-color: #CCEEFF; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Other payable related to the equity option(2)</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; text-align: right"><span id="xdx_90D_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_zBhsJm0fT5q8" title="Liability">53,333</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; text-align: right"><span id="xdx_902_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_z1k9UHWpqHS6" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; text-align: right"><span id="xdx_90F_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_zjZg7jiY44yc" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; text-align: right"><span id="xdx_904_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_ziOHelHtFwHj" title="Liability">53,333</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; padding-bottom: 0.5pt; vertical-align: top"> </td> <td> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Fair value measurement at reporting date using</td> <td> </td> </tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; vertical-align: bottom; text-align: left">Description</td> <td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Fair value as of June 30, 2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Quoted Prices in Active Markets for Identical Assets (Level 1)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Significant Other Observable Inputs (Level 2)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Significant Unobservable Inputs (Level 3)</td> <td> </td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman; vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in; width: 52%">Liabilities:</td> <td style="width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 9%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 9%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 9%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 9%"> </td> <td style="width: 1%"> </td> </tr> <tr style="background-color: White"> <td style="font: 10pt Times New Roman; vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Simple agreements for future equity(1)</td> <td> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_901_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_zAnEPtPYmin5" title="Liability">29,121,268</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_905_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_zSyY3m3cap18" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_908_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_zCyQInY6LRJ" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_900_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_zGTXMwOg7hL8" title="Liability">29,121,268</td> <td> </td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman; vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Other payable related to the equity option(2)</td> <td> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_90D_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_zoxcbfG8aw48" title="Liability">53,333</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_900_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_zIS4i7rdirBb" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_90C_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_zh0v94iFaG2" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_909_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_ziAW1Dx7hTu8" title="Liability">53,333</td> <td> </td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top"> <td id="xdx_F09_zu5TYSd8UFYe" style="font: 10pt Times New Roman; width: 0.25in; text-align: justify">(1)</td> <td id="xdx_F18_zcuWR4PfyQ44" style="text-align: justify"> The Company classifies its SAFEs as financial liabilities measured at fair value. The value of these agreements depends significantly on future financing activities, liquidity events, or other material milestones, and their valuation relies on significant inputs that are not observable in the public market. Accordingly, they are classified within Level 3 of the fair value hierarchy. The fair value measurement is based on an integrated framework combining scenario analysis and financial instrument decomposition (i.e. Bond Plus Call Method). As of June 30, 2026, the proceeds of the SAFEs on the date of issuance were $14,092,500. The details of significant unobservable inputs can refer to Note 8-Simple Agreements for Future Equity for further details. </td> </tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; text-align: justify"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td id="xdx_F05_zHZNAeY0ZKUi" style="font: 10pt Times New Roman; text-align: justify; color: #0F1115; width: 0.25in">(2)</td> <td id="xdx_F18_zPCrYvRyaIu9" style="font: 10pt Times New Roman; text-align: justify"> Equity options. On May 9, 2023, the Company entered into an agreement with a third-party service provider (the “Service Provider”). The Service Provider received a freestanding equity-linked right exercisable, at the Service Provider’s option, upon the closing of the Company’s next qualified equity financing. The right provides the ability to subscribe for up to the value of $200,000 at a 25% discount price per share on the grant date. The equity option is remeasured at fair value at each reporting date, with changes in fair value recognized in earnings. As of June 30, 2025 and 2026, the fair value of the equity option was $53,333, and no gain or loss from changes in fair value was recognized for the periods presented. The fair value measurement of the equity option is categorized within Level 3 of the fair value hierarchy and was determined using a scenario-based analysis, which incorporates significant unobservable inputs and management judgment regarding the probability and timing of potential future financing outcomes.</td> </tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zhxYnM9H7Lt7" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Fair value measurements (Details)"> <tr> <td id="xdx_8B5_zjPjGVSH7fOe" style="font: 10pt Times New Roman; display: none; vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Schedule of fair value assets and liabilities</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; padding-bottom: 0.5pt; vertical-align: top"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Fair value measurement at reporting date using</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; vertical-align: bottom; text-align: left">Description</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Fair value as of June 30, 2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Quoted Prices in Active Markets for Identical Assets (Level 1)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Significant Other Observable Inputs (Level 2)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Significant Unobservable Inputs (Level 3)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr> <td style="font: 10pt Times New Roman; vertical-align: top; background-color: #CCEEFF; text-align: left; padding-left: 0.125in; text-indent: -0.125in; width: 52%">Liabilities:</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 9%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 9%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 9%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 9%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; width: 1%"> </td> </tr> <tr> <td style="font: 10pt Times New Roman; vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Simple agreements for future equity(1)</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_901_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_z0S06p9rf5j9" title="Liability">18,243,885</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_90E_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_zulSkZKh1Ezi" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_907_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_zNU0JeqVorsa" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_902_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_zRV1LFttYZpd" title="Liability">18,243,885</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> </tr> <tr> <td style="font: 10pt Times New Roman; vertical-align: top; background-color: #CCEEFF; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Other payable related to the equity option(2)</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; text-align: right"><span id="xdx_90D_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_zBhsJm0fT5q8" title="Liability">53,333</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; text-align: right"><span id="xdx_902_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_z1k9UHWpqHS6" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; text-align: right"><span id="xdx_90F_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_zjZg7jiY44yc" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF; text-align: right"><span id="xdx_904_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_ziOHelHtFwHj" title="Liability">53,333</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; background-color: #CCEEFF"> </td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; padding-bottom: 0.5pt; vertical-align: top"> </td> <td> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Fair value measurement at reporting date using</td> <td> </td> </tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; vertical-align: bottom; text-align: left">Description</td> <td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Fair value as of June 30, 2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Quoted Prices in Active Markets for Identical Assets (Level 1)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Significant Other Observable Inputs (Level 2)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Significant Unobservable Inputs (Level 3)</td> <td> </td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman; vertical-align: top; text-align: left; padding-left: 0.125in; text-indent: -0.125in; width: 52%">Liabilities:</td> <td style="width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 9%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 9%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 9%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 1%"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; width: 9%"> </td> <td style="width: 1%"> </td> </tr> <tr style="background-color: White"> <td style="font: 10pt Times New Roman; vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Simple agreements for future equity(1)</td> <td> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_901_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_zAnEPtPYmin5" title="Liability">29,121,268</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_905_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_zSyY3m3cap18" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_908_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_zCyQInY6LRJ" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: justify">$</td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_900_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--SimpleAgreementsForFutureEquityMember_fKDEp_zGTXMwOg7hL8" title="Liability">29,121,268</td> <td> </td> </tr> <tr style="background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman; vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Other payable related to the equity option(2)</td> <td> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_90D_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_zoxcbfG8aw48" title="Liability">53,333</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_900_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_zIS4i7rdirBb" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_90C_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_zh0v94iFaG2" title="Liability">-</td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman; vertical-align: bottom; text-align: right"><span id="xdx_909_eus-gaap--LiabilitiesFairValueDisclosure_iI_pp0d_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByLiabilityClassAxis__custom--OtherPayableRelatedToTheEquityOptionMember_fKDIp_ziAW1Dx7hTu8" title="Liability">53,333</td> <td> </td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top"> <td id="xdx_F09_zu5TYSd8UFYe" style="font: 10pt Times New Roman; width: 0.25in; text-align: justify">(1)</td> <td id="xdx_F18_zcuWR4PfyQ44" style="text-align: justify"> The Company classifies its SAFEs as financial liabilities measured at fair value. The value of these agreements depends significantly on future financing activities, liquidity events, or other material milestones, and their valuation relies on significant inputs that are not observable in the public market. Accordingly, they are classified within Level 3 of the fair value hierarchy. The fair value measurement is based on an integrated framework combining scenario analysis and financial instrument decomposition (i.e. Bond Plus Call Method). As of June 30, 2026, the proceeds of the SAFEs on the date of issuance were $14,092,500. The details of significant unobservable inputs can refer to Note 8-Simple Agreements for Future Equity for further details. </td> </tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; text-align: justify"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td id="xdx_F05_zHZNAeY0ZKUi" style="font: 10pt Times New Roman; text-align: justify; color: #0F1115; width: 0.25in">(2)</td> <td id="xdx_F18_zPCrYvRyaIu9" style="font: 10pt Times New Roman; text-align: justify"> Equity options. On May 9, 2023, the Company entered into an agreement with a third-party service provider (the “Service Provider”). The Service Provider received a freestanding equity-linked right exercisable, at the Service Provider’s option, upon the closing of the Company’s next qualified equity financing. The right provides the ability to subscribe for up to the value of $200,000 at a 25% discount price per share on the grant date. The equity option is remeasured at fair value at each reporting date, with changes in fair value recognized in earnings. As of June 30, 2025 and 2026, the fair value of the equity option was $53,333, and no gain or loss from changes in fair value was recognized for the periods presented. The fair value measurement of the equity option is categorized within Level 3 of the fair value hierarchy and was determined using a scenario-based analysis, which incorporates significant unobservable inputs and management judgment regarding the probability and timing of potential future financing outcomes.</td> </tr> </table>

18243885

53333

29121268

53333

5. Crypto assets The Company uses crypto assets like USDT and USDC as medium of exchange for collecting and settling business-related payments and for receiving investment proceeds. As of June 30, 2025 and 2026, the Company held nil and $2,160,746 of USDT and USDC, respectively. The Company commenced the use of crypto assets in December 2025. The movements in digital assets and USDC for the year ended June 30, 2026 are set out below: <table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--CryptoAssetActivityTableTextBlock_zRAHbK0ULhId" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Crypto assets (Details)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B3_zDAKvaYASiul" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of digital assets</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">USDT</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">USDC</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Balance as of June 30, 2025</td> <td style="font: 10pt Times New Roman; width: 1%; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 9%; text-align: right">-</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; width: 1%; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 9%; text-align: right">-</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Additions(i)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">991,601</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">6,275,251</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Disposals - sold for US dollars</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(596,852</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(809,669</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Disposals(ii)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(394,749</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(3,304,836</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Balance as of June 30, 2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">2,160,746</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td id="xdx_F02_zJYzl8uXTjN6" style="width: 0.25in; text-align: left">(i)</td> <td id="xdx_F1C_zGxnNhgDktKh" style="text-align: justify"> The Company acquired a total of 991,601 USDT at a cost of $991,601 from revenues and other current assets. The Company acquired a total of 6,275,251 USDC at a cost of $ 6,275,251 from revenues, USDC rewards, other current assets and investment proceeds from SAFEs.</td> </tr> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td id="xdx_F00_z0lzmnu3jOjb" style="width: 0.25in; text-align: left">(ii)</td> <td id="xdx_F1A_zFfkkhVoguRc" style="text-align: justify"> The Company uses digital assets and USDC to settle professional services fees and other expenditures, and any digital assets held may be converted into USDC, as needed.</td> </tr> </table> The Company’s balances related to digital assets are USD-pegged stablecoins. No fair value gain or loss on digital assets was recognized for the year ended June 30, 2026 considering the low volatility in the fair value of USDT during the year ended June 30, 2026. The following table summarizes other operating activities settled in digital assets and USDC: <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--CashFlowOperatingCapitalTableTextBlock_zNoPLqG8H6H2" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Crypto assets (Details 1)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B3_z7UQQcbO1HZa" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of operating activities</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_491_20250701__20260630__srt--CryptoAssetAxis__custom--DigitalAssetsAndUSDCMember_zS4GSsL6IFFk" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center"> For the Year Ended June 30, 2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_40A_eus-gaap--Revenues_iN_di_maTOASIzVyN_zPHBKkNW0zw3" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Revenue</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">(2,798,918</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_40C_ecustom--OtherCurrentAssets_msTOASIzVyN_zRc7IZ5tXAt" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Other receivables</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(1,452,102</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_40D_eus-gaap--CostsAndExpenses_msTOASIzVyN_zF5GKc6gRINl" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Cost and expenses</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">3,699,585</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_408_ecustom--UsdcRewards_iN_pp0d_di_maTOASIzVyN_zdeBrZmylPyl" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">USDC rewards</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(15,832</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr id="xdx_40B_ecustom--TotalOperatingActivitiesSettledInDigitalAssetsAndUsdc_iNT_di_mtTOASIzVyN_zjDwfn8CBKL2" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Total operating activities settled in digital assets and USDC</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">(567,267</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt">)</td> </tr> </table>

2160746

<table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--CryptoAssetActivityTableTextBlock_zRAHbK0ULhId" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Crypto assets (Details)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B3_zDAKvaYASiul" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of digital assets</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">USDT</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">USDC</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Balance as of June 30, 2025</td> <td style="font: 10pt Times New Roman; width: 1%; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 9%; text-align: right">-</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; width: 1%; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 9%; text-align: right">-</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Additions(i)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">991,601</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">6,275,251</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Disposals - sold for US dollars</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(596,852</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(809,669</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Disposals(ii)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(394,749</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(3,304,836</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Balance as of June 30, 2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">2,160,746</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td id="xdx_F02_zJYzl8uXTjN6" style="width: 0.25in; text-align: left">(i)</td> <td id="xdx_F1C_zGxnNhgDktKh" style="text-align: justify"> The Company acquired a total of 991,601 USDT at a cost of $991,601 from revenues and other current assets. The Company acquired a total of 6,275,251 USDC at a cost of $ 6,275,251 from revenues, USDC rewards, other current assets and investment proceeds from SAFEs.</td> </tr> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td id="xdx_F00_z0lzmnu3jOjb" style="width: 0.25in; text-align: left">(ii)</td> <td id="xdx_F1A_zFfkkhVoguRc" style="text-align: justify"> The Company uses digital assets and USDC to settle professional services fees and other expenditures, and any digital assets held may be converted into USDC, as needed.</td> </tr> </table>

991601

6275251

596852

809669

394749

3304836

2160746

<table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--CashFlowOperatingCapitalTableTextBlock_zNoPLqG8H6H2" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Crypto assets (Details 1)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B3_z7UQQcbO1HZa" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of operating activities</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_491_20250701__20260630__srt--CryptoAssetAxis__custom--DigitalAssetsAndUSDCMember_zS4GSsL6IFFk" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center"> For the Year Ended June 30, 2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_40A_eus-gaap--Revenues_iN_di_maTOASIzVyN_zPHBKkNW0zw3" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Revenue</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">(2,798,918</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_40C_ecustom--OtherCurrentAssets_msTOASIzVyN_zRc7IZ5tXAt" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Other receivables</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(1,452,102</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_40D_eus-gaap--CostsAndExpenses_msTOASIzVyN_zF5GKc6gRINl" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Cost and expenses</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">3,699,585</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_408_ecustom--UsdcRewards_iN_pp0d_di_maTOASIzVyN_zdeBrZmylPyl" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">USDC rewards</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(15,832</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr id="xdx_40B_ecustom--TotalOperatingActivitiesSettledInDigitalAssetsAndUsdc_iNT_di_mtTOASIzVyN_zjDwfn8CBKL2" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Total operating activities settled in digital assets and USDC</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">(567,267</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt">)</td> </tr> </table>

2798918

-1452102

3699585

15832 567267

6. Accounts receivable Accounts receivable consisted of the following: <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_z4ayVEYtpq15" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Accounts receivable (Details)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8BA_zPG1ipfebbob" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Schedule of accounts receivable</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_493_20250630_zfGAUoDQ6194" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_49D_20260630_zQZIpNwmdb9d" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">As of June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_408_eus-gaap--AccountsReceivableNetCurrent_iI_pp0d_maARNzNuI_ztL7vptNl5Ai" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Accounts receivable</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">152,536</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">1,145,232</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_400_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_pp0d_di_msARNzNuI_zrKCQVGlD072" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Less: allowance for credit losses</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(38,022</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr id="xdx_40F_eus-gaap--AccountsReceivableNet_iTI_pp0d_mtARNzNuI_zBNeinANy2ce" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Accounts receivable, net</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">152,536</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">1,107,210</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table> Accounts receivable are recorded at the invoiced amount and do not bear interest. The Company maintains an allowance for credit losses for expected losses over the life of the accounts receivable using the current expected credit loss methodology. The Company determines the allowance based on historical loss experience, current conditions, and reasonable and supportable forecasts. For the years ended June 30, 2025 and 2026, the movement of allowance for expected credit losses were as below: <table cellpadding="0" cellspacing="0" id="xdx_898_ecustom--ScheduleOfMovementOfAllowanceForExpectedCreditLosses_z91Fnl08kSMl" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Accounts receivable (Details 1)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B7_z00GHasyRiq6" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.25in; text-indent: -0.125in; padding-bottom: 0.5pt">Schedule of movement of allowance for expected credit losses</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_493_20240701__20250630_zpp3EcWPq5Ke" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_491_20250701__20260630_zo2pbbpq1x7c" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center"> For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_40A_eus-gaap--AccountsAndFinancingReceivableAllowanceForCreditLoss_iS_pp0d_zYZ45ceVDb3b" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Balance at beginning of the year</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">-</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">-</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_402_eus-gaap--ProvisionForDoubtfulAccounts_i_pp0p" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.25in; text-indent: -0.125in; padding-bottom: 0.5pt">Addition</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">38,022</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_407_eus-gaap--AccountsAndFinancingReceivableAllowanceForCreditLoss_iE_pp0p" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Balance at end of the year</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">38,022</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_z4ayVEYtpq15" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Accounts receivable (Details)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8BA_zPG1ipfebbob" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Schedule of accounts receivable</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_493_20250630_zfGAUoDQ6194" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_49D_20260630_zQZIpNwmdb9d" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">As of June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_408_eus-gaap--AccountsReceivableNetCurrent_iI_pp0d_maARNzNuI_ztL7vptNl5Ai" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Accounts receivable</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">152,536</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">1,145,232</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_400_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_pp0d_di_msARNzNuI_zrKCQVGlD072" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Less: allowance for credit losses</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(38,022</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr id="xdx_40F_eus-gaap--AccountsReceivableNet_iTI_pp0d_mtARNzNuI_zBNeinANy2ce" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Accounts receivable, net</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">152,536</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">1,107,210</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table>

152536

1145232

38022

152536

1107210

<table cellpadding="0" cellspacing="0" id="xdx_898_ecustom--ScheduleOfMovementOfAllowanceForExpectedCreditLosses_z91Fnl08kSMl" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Accounts receivable (Details 1)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B7_z00GHasyRiq6" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.25in; text-indent: -0.125in; padding-bottom: 0.5pt">Schedule of movement of allowance for expected credit losses</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_493_20240701__20250630_zpp3EcWPq5Ke" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_491_20250701__20260630_zo2pbbpq1x7c" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center"> For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_40A_eus-gaap--AccountsAndFinancingReceivableAllowanceForCreditLoss_iS_pp0d_zYZ45ceVDb3b" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Balance at beginning of the year</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">-</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">-</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_402_eus-gaap--ProvisionForDoubtfulAccounts_i_pp0p" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.25in; text-indent: -0.125in; padding-bottom: 0.5pt">Addition</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">38,022</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_407_eus-gaap--AccountsAndFinancingReceivableAllowanceForCreditLoss_iE_pp0p" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Balance at end of the year</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">38,022</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table>

38022

7. Equipment, net Equipment, net consisted of the following: <table cellpadding="0" cellspacing="0" id="xdx_881_eus-gaap--PropertyPlantAndEquipmentTextBlock_zzzFmzZbWygh" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Equipment, net (Details)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8BC_zEoHZDE6Oce4" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Schedule of equipment</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_49E_20250630_zK99f1GaSGB1" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_49F_20260630_zXaOqcFtZL3j" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">As of June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0d_maPPAEOz5k8_zwgijLNi2Hil" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Equipment</td> <td style="font: 10pt Times New Roman; width: 1%; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 9%; text-align: right">29,944</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; width: 1%; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 9%; text-align: right">29,198</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentOtherNet_iTI_pp0d_mtPPAEOz5k8_maPPAENz0U3_zdNw03SyAEa8" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Total</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">29,944</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">29,198</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentOtherAccumulatedDepreciation_iNI_pp0d_di_msPPAENz0U3_zwWe6BbBZT07" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Less: accumulated depreciation</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(10,344</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(16,358</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0d_mtPPAENz0U3_zRUOQc4FtDk5" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Net carrying amount</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">19,600</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">12,840</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table> Depreciation expenses for the years ended June 30, 2025 and 2026 were $6,234 and $6,760, respectively.

<table cellpadding="0" cellspacing="0" id="xdx_881_eus-gaap--PropertyPlantAndEquipmentTextBlock_zzzFmzZbWygh" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Equipment, net (Details)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8BC_zEoHZDE6Oce4" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Schedule of equipment</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_49E_20250630_zK99f1GaSGB1" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_49F_20260630_zXaOqcFtZL3j" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">As of June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0d_maPPAEOz5k8_zwgijLNi2Hil" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Equipment</td> <td style="font: 10pt Times New Roman; width: 1%; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 9%; text-align: right">29,944</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; width: 1%; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 9%; text-align: right">29,198</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentOtherNet_iTI_pp0d_mtPPAEOz5k8_maPPAENz0U3_zdNw03SyAEa8" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Total</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">29,944</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">29,198</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentOtherAccumulatedDepreciation_iNI_pp0d_di_msPPAENz0U3_zwWe6BbBZT07" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Less: accumulated depreciation</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(10,344</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(16,358</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0d_mtPPAENz0U3_zRUOQc4FtDk5" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Net carrying amount</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">19,600</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">12,840</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table>

29944

29198

29944

29198

10344

16358

19600

12840

6234

6760

8. Simple agreements for future equity The Company has entered into SAFEs with various investors that were classified as liabilities on the Company’s balance sheets and accounted for at fair value, subject to remeasurement each reporting period. SAFEs have no maturity date, does not bear any interest and provides the investor with the right to convert into a variable number of shares of future equity in the Company at the stated conversion amount, if certain events or conditions are triggered. During the period from October 2022 through June 30, 2026, the Company entered into Simple Agreements for Future Equity with third-party investors, receiving aggregate gross proceeds of $14,092,500. For the years ended June 30, 2025 and 2026, the Company received SAFEs proceeds of $4,307,500 and $3,500,000, respectively. No issuance costs were incurred in connection with these arrangements. On August 27, 2026, the Company consummated the Business Combination contemplated by the Agreement and Plan of Merger dated January 11, 2026. Upon the De-SPAC closing, all outstanding SAFEs of the Company were cancelled and converted into the right to receive shares of PubCo Class A common stock based on the applicable SAFE holders’ implied ownership percentages. The shares of PubCo Class A common stock received in connection with the SAFE conversion constituted full satisfaction of their rights under the applicable SAFEs and were subject to a six-month lock-up period following the Closing Date. No additional cash consideration was payable upon such conversion. The SAFEs agreements grant investors the right to participate in the Company’s future equity financing events. The agreements contain various conversion and redemption provisions, including conversion upon an equity financing event, as well as settlement in the event of a liquidity event or dissolution of the Company. Key terms of the SAFEs are as follows: Equity Financing – Upon the occurrence of an equity financing event, the SAFE instruments convert into shares of the Company’s Standard Preferred shares as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td style="width: 0.25in; text-align: left">(i)</td> <td style="text-align: justify">Price-based SAFEs: each SAFEs automatically converts into a greater of (a) the number of shares of preferred shares equal to SAFEs purchase amount divided by the lowest price per share paid for the standard preferred shares or (b) the number of shares of preferred shares equal to the SAFEs purchase amount divided by the SAFEs price.</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; width: 0.25in"> </td> <td style="font: 10pt Times New Roman; width: 0.25in; text-align: left">●</td> <td style="font: 10pt Times New Roman; text-align: justify">“SAFEs price” is calculated by dividing a fixed post-money valuation cap by the Company capitalization, a defined term that includes all outstanding equity and convertible instruments.</td> </tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman"> </td> </tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left">●</td> <td style="font: 10pt Times New Roman; text-align: justify">“Equity Financing” means a bona fide transaction or series of transactions with the principal purpose of raising capital, pursuant to which the Company issues and sells preferred share at a fixed valuation, including but not limited to, a pre-money or post-money valuation.</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; color: #0F1115; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td style="width: 0.25in; text-align: left">(ii)</td> <td style="text-align: justify">Fixed-percentage SAFEs: on the initial closing of such Equity Financing, the SAFE automatically converts into that number of shares of the Standard Preferred Share representing a fixed percentage of total issued and outstanding shares of the Company immediately after the Closing.</td> </tr> </table> Not all SAFEs agreements contain the equity financing conversion provision described above. Certain SAFEs are structured without an Equity Financing conversion feature and are generally settled only upon a Liquidity Event or a Dissolution Event (as defined in the respective SAFEs agreements). The Company considered the contractual terms of the SAFEs, including whether an Equity Financing conversion feature is present and the settlement provisions upon a Liquidity Event or a Dissolution Event, in the valuation and measurement of these instruments. As of June 30, 2026, SAFEs with an aggregate purchase amount of $13,632,500 include an Equity Financing conversion feature, while SAFEs with an aggregate purchase amount of $460,000 do not include this feature and are generally settled only upon a Liquidity Event or a Dissolution Event, in accordance with their terms. The Company does not have any preferred shares outstanding as of the date these consolidated financial statements are issued; therefore, an equity financing event has not been triggered. Liquidity Event – If there is a liquidity event before the conversion of each SAFE, the holder of each SAFEs will automatically be entitled to the greater of (i) SAFEs purchase amount, or (ii) the amount payable on the number of shares of common stock equal to the purchase amount divided by the Liquidity Price. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; width: 0.25in"> </td> <td style="font: 10pt Times New Roman; width: 0.25in; text-align: left">●</td> <td style="font: 10pt Times New Roman; text-align: justify">“Liquidity Price” is calculated by dividing the post-money valuation cap by the separately defined capital base, referred to as “liquidity capitalization” in the SAFEs agreements.</td> </tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman"> </td> </tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left">●</td> <td style="font: 10pt Times New Roman; text-align: justify">“Liquidity Event” means a change of control, a direct Listing or an initial public offering.</td> </tr> </table> Dissolution Event – If there is a dissolution event before the conversion of each SAFE, the holder of each SAFEs will automatically be entitled to receive a portion of proceeds equal to SAFEs purchase amount. The Company classifies its SAFEs as financial liabilities measured at fair value. Since the value of these instruments depends on significant unobservable inputs, including future financing activities and liquidity events, they are classified as Level 3 within the fair value hierarchy. The fair value measurement utilizes a combined scenario analysis and financial instrument decomposition approach. Based on management’s assessment of the Company’s prospects, probability distributions are assigned to potential settlement-triggering events. Valuation is performed using a “debt plus option” model: the debt component is valued using a discounted cash flow method with key assumptions including expected settlement timing, risk-free interest rate, and credit spread; the embedded conversion right is treated as a call option and valued using the Black-Scholes model, with key inputs including the fair value of common stock, expected term, and volatility. The overall fair value represents the probability-weighted sum across all scenarios, supported by an independent third-party valuation specialist. As of June 30, 2025 and 2026, the SAFE liabilities were measured at fair value using the above Level 3 methodology. Significant unobservable inputs—including timing of events, volatility, and credit spreads—are based on management’s reasonable estimates as of each valuation date. Major valuation inputs adopted in the valuation of the SAFE Instruments are as follows: <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zEHaPxg8Vlib" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Simple agreements for future equity (Details)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8BE_z4Vfv5ESc2ff" style="font: 10pt Times New Roman; display: none; text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top">Schedule of share based payment award stock options valuation assumptions</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 0.5pt; vertical-align: top"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">As of June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 0.5pt; vertical-align: top"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top">Volatility(1)</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">78.6</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">88.7</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top">Risk-free rate(2)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">4.0</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">3.9</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top">Credit spread(3)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">8.9</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">9.7</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top">Discount rate(4)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">12.8</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">13.6</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top">Dividend yield(5)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">0.0</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">0.0</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td id="xdx_F09_z3LpFds3GFR4" style="width: 0.25in; text-align: left">(1)</td> <td id="xdx_F1C_zluxfcNUEZ3d" style="text-align: justify"> Volatility: Derived with reference to historical price volatility of comparable companies</td> </tr> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td id="xdx_F03_zmUoQxTU06Va" style="width: 0.25in; text-align: left">(2)</td> <td id="xdx_F18_zYkHCEesEXmc" style="text-align: justify"> Risk-free rate: Derived with reference to U.S. sovereign bond yield</td> </tr> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td id="xdx_F04_z0X3RDuKzsb2" style="width: 0.25in; text-align: left">(3)</td> <td id="xdx_F10_zP8oQOHmC3e3" style="text-align: justify"> Credit spread: Risk premium over the risk-free rate, derived with reference to the spread of CCC rated bonds</td> </tr> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td id="xdx_F0E_z2T5954rtSnb" style="width: 0.25in; text-align: left">(4)</td> <td id="xdx_F17_z7ONJfEyiYB9" style="text-align: justify"> Discount rate: Sum of risk-free rate and credit spread</td> </tr> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td id="xdx_F0D_zhKHZiHtamdg" style="width: 0.25in; text-align: left">(5)</td> <td id="xdx_F1D_za67peCrqjg3" style="text-align: justify"> Dividend yield: Derived with reference to historical dividend record of the Company</td> </tr> </table> The following tables set forth a summary of the activity of the SAFE liabilities, respectively, which represents a recurring fair value measurement at the end of each reporting period: <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zHnQoljiZbKe" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Simple agreements for future equity (Details 1)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B3_z9aY0EiW4KN6" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of fair value measurement</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Amount</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Balance at June 30, 2024</td> <td style="font: 10pt Times New Roman; width: 1%; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 9%; text-align: right">9,321,564</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Issuance of simple agreements for future equity</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">4,307,500</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Change in fair value</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">4,614,821</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Balance at June 30, 2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">18,243,885</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Issuance of simple agreements for future equity</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">3,500,000</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Change in fair value</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">7,377,383</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Balance at June 30, 2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">29,121,268</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table>

14092500

4307500

3500000

SAFEs with an aggregate purchase amount of $13,632,500 include an Equity Financing conversion feature, while SAFEs with an aggregate purchase amount of $460,000 do not include this feature and are generally settled only upon a Liquidity Event or a Dissolution Event, in accordance with their terms.

<table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zEHaPxg8Vlib" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Simple agreements for future equity (Details)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8BE_z4Vfv5ESc2ff" style="font: 10pt Times New Roman; display: none; text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top">Schedule of share based payment award stock options valuation assumptions</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 0.5pt; vertical-align: top"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">As of June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 0.5pt; vertical-align: top"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top">Volatility(1)</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">78.6</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">88.7</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top">Risk-free rate(2)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">4.0</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">3.9</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top">Credit spread(3)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">8.9</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">9.7</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top">Discount rate(4)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">12.8</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">13.6</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top">Dividend yield(5)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">0.0</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">0.0</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td id="xdx_F09_z3LpFds3GFR4" style="width: 0.25in; text-align: left">(1)</td> <td id="xdx_F1C_zluxfcNUEZ3d" style="text-align: justify"> Volatility: Derived with reference to historical price volatility of comparable companies</td> </tr> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td id="xdx_F03_zmUoQxTU06Va" style="width: 0.25in; text-align: left">(2)</td> <td id="xdx_F18_zYkHCEesEXmc" style="text-align: justify"> Risk-free rate: Derived with reference to U.S. sovereign bond yield</td> </tr> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td id="xdx_F04_z0X3RDuKzsb2" style="width: 0.25in; text-align: left">(3)</td> <td id="xdx_F10_zP8oQOHmC3e3" style="text-align: justify"> Credit spread: Risk premium over the risk-free rate, derived with reference to the spread of CCC rated bonds</td> </tr> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td id="xdx_F0E_z2T5954rtSnb" style="width: 0.25in; text-align: left">(4)</td> <td id="xdx_F17_z7ONJfEyiYB9" style="text-align: justify"> Discount rate: Sum of risk-free rate and credit spread</td> </tr> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td id="xdx_F0D_zhKHZiHtamdg" style="width: 0.25in; text-align: left">(5)</td> <td id="xdx_F1D_za67peCrqjg3" style="text-align: justify"> Dividend yield: Derived with reference to historical dividend record of the Company</td> </tr> </table>

0.786

0.887

0.040

0.039

0.089 0.097

0.128

0.136

0.000

<table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zHnQoljiZbKe" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Simple agreements for future equity (Details 1)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B3_z9aY0EiW4KN6" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of fair value measurement</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">Amount</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Balance at June 30, 2024</td> <td style="font: 10pt Times New Roman; width: 1%; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; width: 9%; text-align: right">9,321,564</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Issuance of simple agreements for future equity</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">4,307,500</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Change in fair value</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">4,614,821</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Balance at June 30, 2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">18,243,885</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Issuance of simple agreements for future equity</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">3,500,000</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Change in fair value</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">7,377,383</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Balance at June 30, 2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">29,121,268</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table>

9321564 4307500 4614821 18243885 3500000 7377383 29121268

9. Income taxes Exascale Labs Inc. is incorporated in the State of Delaware and is subject to U.S. federal income tax and Delaware corporate income tax, as well as income taxes in other jurisdictions where it conducts business. The statutory corporate income tax rate is 21% for U.S. federal purposes. Delaware imposes a corporate income tax at a rate of <span id="xdx_90D_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_c20240701__20250630__us-gaap--IncomeTaxAuthorityNameAxis__custom--DelawareMember_zr6JQUGipicd" title="State income tax rate"><span id="xdx_90D_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_c20250701__20260630__us-gaap--IncomeTaxAuthorityNameAxis__custom--DelawareMember_zcjTQCY8J8a5" title="State income tax rate">8.7% on corporate taxable income. In addition, the Company is subject to state and local income taxes in other states in which it operates, calculated under applicable state law using apportionment methods (or similar rules) that allocate income among jurisdictions based on factors such as sales. In addition, the Company files income or franchise tax returns in various other U.S. states and is subject to the applicable statutory tax rates in each jurisdiction based on income apportioned to those states. Evana Alpha Pte. Ltd. is incorporated in Singapore and is subject to the statutory corporate income tax rate of 17%. The current and deferred components of income tax expense reflected in the statements of operations and comprehensive loss were nil for the year ended June 30, 2025 and 2026. The following table reconciles the statutory rate to the Company’s effective tax rate. The effective tax rate reconciliation is based on the U.S. federal statutory rate of 21%. <table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zoNjA5yn4H87" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income taxes (Details)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8BE_z4hfcI2qHUu1" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of effective tax rate reconciliation</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">US Statutory income tax rate</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">21.0</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">21.0</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">State income tax</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">8.7</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">2.3</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Tax differences from other jurisdictions</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(0.4</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">R&D expense super deduction</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(2.7</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Change in fair value of simple agreements for future equity</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(17.9</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(9.0</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Change in valuation allowance</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(11.8</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)%</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(11.2</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Effective income tax rate</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table> The Company’s effective income tax rate was 0% for both years ended June 30, 2025 and 2026. This is primarily attributable to the recognition of a full valuation allowance against the net deferred tax assets, as the Company has concluded that it is not more likely than not that these assets will be realized in the foreseeable future. Accordingly, no tax benefit has been recognized for the losses incurred during these periods. The principal components of deferred tax assets and deferred tax liabilities were as follows: <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zpXeaITXMlz" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income taxes (Details 1)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B8_zGtSW7ZhBnmj" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of deferred tax assets liabilities</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_495_20250630_z6MeokpuKdT6" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_49E_20260630_z1kAYP3XLhbi" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">As of June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsGrossAbstract_iB_zxghqE58GYqh" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Deferred tax assets</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_i01I_pp0d_maDTAGz3OT_zNUqvIUzItv" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Net operating loss carry forward</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left">$</td> <td style="font: 10pt Times New Roman; text-align: right">1,652,998</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left">$</td> <td style="font: 10pt Times New Roman; text-align: right">2,679,040</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_i01I_pp0d_maDTAGz3OT_z7kMv6vd5Zx5" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">R&D expense super deduction</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">322,388</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseOther_i01I_pp0d_maDTAGz3OT_zEjWejIE0J06" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Bad provision</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">7,985</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsGross_i01TI_pp0d_mtDTAGz3OT_maDTANzthq_zjoUrdU3tdh6" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Total deferred tax assets</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">1,652,998</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">3,009,413</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_409_eus-gaap--DeferredTaxAssetsValuationAllowance_i01NI_pp0d_di_msDTANzthq_z8jK3nSvoPfl" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Less: valuation allowance</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(1,652,998</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(3,009,413</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsNet_iTI_pp0d_mtDTANzthq_zEUvdl4vR1Y7" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Total deferred tax assets, net</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table> The changes in valuation allowance for the years ended June 30, 2025 and 2026 were as follows: <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--SummaryOfValuationAllowanceTextBlock_zqpTK4dsx773" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income taxes (Details 2)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B8_zBcSsXdf5ws9" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Schedule of valuation allowance</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_491_20240701__20250630_zvGdWQipbBL5" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_499_20250701__20260630_zbNWzeCsTd27" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsValuationAllowance_iNS_pp0d_di_z6EO3zY67pcd" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Balance at the beginning of the year</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">(748,679</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">(1,652,998</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_409_eus-gaap--ValuationAllowanceDeferredTaxAssetChangeInAmount_i_pp0p" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Additions</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(904,319</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(1,356,415</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsValuationAllowance_iNE_pp0d_di_zlZL1NVUYTB1" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.25in; text-indent: -0.125in; padding-bottom: 1.25pt">Balance at the end of the year</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">(1,652,998</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">(3,009,413</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt">)</td> </tr> </table> As of June 30, 2025 and 2026, Exascale Labs Inc. had net operating loss carryforwards (“NOLs”) of $5.6 million and $9.9 million for U.S. federal income tax purposes and $<span id="xdx_90B_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20250630__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--StateAndLocalJurisdictionMember_z4mQPOhrnycj" title="Net operating loss carryforwards">5.6 million and $<span id="xdx_907_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20260630__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--StateAndLocalJurisdictionMember_znXkLAhM8wf4" title="Net operating loss carryforwards">6.1 million for state income tax purposes. The federal NOLs do not expire but are subject to an annual deduction limit of 80% of taxable income. The Company’s NOLs can be carried forward to offset current year profit for Delaware and California corporate income tax purposes, subject to certain limitations. Evana Alpha Pte. Ltd. had NOLs of $0.4 million for the year ended June 30, 2026. Under Singapore tax rules, the company’s unutilized tax losses and capital allowances may be carried forward indefinitely, subject to the shareholding and same business tests (generally requiring at least 50% shareholder continuity). Current-year losses may also be carried back up to SGD 100,000. The Company recognizes deferred tax assets if it is more likely than not that those deferred tax assets will be realized. Management reviews deferred tax assets periodically for recoverability and makes estimates and judgments regarding the expected geographic sources of taxable income in assessing the need for a valuation allowance to reduce deferred tax assets to their estimated realizable value. Realization of the Company’s deferred tax assets is dependent upon future earnings, if any, the timing and amount of which are uncertain. The Company had no unrecognized tax benefits as of June 30, 2025 and 2026. The Company currently files income tax returns in the U.S., as well as Delaware. All tax years are open for examination. The Company currently has no federal or state tax examinations in progress.

0.21

0.087

0.17

<table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zoNjA5yn4H87" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income taxes (Details)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8BE_z4hfcI2qHUu1" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of effective tax rate reconciliation</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">US Statutory income tax rate</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">21.0</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">21.0</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">State income tax</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">8.7</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">2.3</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Tax differences from other jurisdictions</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(0.4</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">R&D expense super deduction</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(2.7</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Change in fair value of simple agreements for future equity</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(17.9</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)%</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(9.0</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)%</td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Change in valuation allowance</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(11.8</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)%</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(11.2</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)%</td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Effective income tax rate</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table>

0.21

0.087

0.023

-0.004

-0.027

-0.179

-0.090

-0.118

-0.112

-0

<table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zpXeaITXMlz" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income taxes (Details 1)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B8_zGtSW7ZhBnmj" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of deferred tax assets liabilities</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_495_20250630_z6MeokpuKdT6" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_49E_20260630_z1kAYP3XLhbi" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">As of June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsGrossAbstract_iB_zxghqE58GYqh" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Deferred tax assets</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_i01I_pp0d_maDTAGz3OT_zNUqvIUzItv" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Net operating loss carry forward</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left">$</td> <td style="font: 10pt Times New Roman; text-align: right">1,652,998</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left">$</td> <td style="font: 10pt Times New Roman; text-align: right">2,679,040</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_i01I_pp0d_maDTAGz3OT_z7kMv6vd5Zx5" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">R&D expense super deduction</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">322,388</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseOther_i01I_pp0d_maDTAGz3OT_zEjWejIE0J06" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Bad provision</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">7,985</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsGross_i01TI_pp0d_mtDTAGz3OT_maDTANzthq_zjoUrdU3tdh6" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Total deferred tax assets</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">1,652,998</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">3,009,413</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_409_eus-gaap--DeferredTaxAssetsValuationAllowance_i01NI_pp0d_di_msDTANzthq_z8jK3nSvoPfl" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Less: valuation allowance</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(1,652,998</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(3,009,413</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsNet_iTI_pp0d_mtDTANzthq_zEUvdl4vR1Y7" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Total deferred tax assets, net</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table>

1652998

2679040

322388

7985

1652998

3009413

1652998

3009413

<table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--SummaryOfValuationAllowanceTextBlock_zqpTK4dsx773" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income taxes (Details 2)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B8_zBcSsXdf5ws9" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Schedule of valuation allowance</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_491_20240701__20250630_zvGdWQipbBL5" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_499_20250701__20260630_zbNWzeCsTd27" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsValuationAllowance_iNS_pp0d_di_z6EO3zY67pcd" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Balance at the beginning of the year</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">(748,679</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">(1,652,998</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_409_eus-gaap--ValuationAllowanceDeferredTaxAssetChangeInAmount_i_pp0p" style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Additions</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(904,319</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(1,356,415</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsValuationAllowance_iNE_pp0d_di_zlZL1NVUYTB1" style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.25in; text-indent: -0.125in; padding-bottom: 1.25pt">Balance at the end of the year</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">(1,652,998</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">(3,009,413</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt">)</td> </tr> </table>

748679

1652998

-904319

-1356415

1652998

3009413

5600000

9900000

5600000

6100000

400000

10. Share-based compensation For the years ended June 30, 2025 and 2026, total share-based compensation expenses recognized were $153,266 and 0 nil, respectively. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td style="width: 0.25in; text-align: left">(1)</td> <td style="text-align: justify">Employee</td> </tr> </table> On January 6, 2025, with the approval from the Board of the Company, an employee was granted equity award from inception of the employment agreement, which represented 0.1% of the Company’s total shares outstanding at issuance date (the “0.1% Award”, i.e., 1.5 shares). The equity award had a vesting period of 24 months after grant, but with no requisite service period. Alongside the employee’s separation in September 2025, the equity award remained its vesting pace under the 24-month vesting schedule. As of June 30, 2026, 1.125 shares of the Company were vested, with remaining 0.375 shares unvested. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td style="width: 0.25in; text-align: left">(2)</td> <td style="text-align: justify">Non-employee</td> </tr> </table> On December 2, 2024, with the approval from the Board of the Company, a contractor was granted equity award from inception of the contractor agreement representing 0.053333% of the Company’s total shares outstanding at issuance date (“0.05% Award”, i.e., 0.8 shares). The equity award had a vesting period of 24 months after grant, with half vested as of April 1, 2025 and remaining as of November 1, 2026, but with no requisite service period. As of June 30, 2026, the first half of the equity award had been vested, the remaining half had been outstanding. The Company’s share-based compensation awards are expected to be settled through transfers of existing shares of common stock held by the controlling shareholder, rather than through the issuance of new shares by the Company. The underlying shares of common stock are included in the issued and outstanding shares as of the balance sheet date; accordingly, such settlement is not expected to increase the Company’s total issued and outstanding shares. The vested shares are not recorded in the individual names of the holders on the Company’s shares ledger, but held by the controlling shareholder on their behalf, mainly due to the plan to a direct register of shares under the listed company during De-SPAC transaction. The Company, as well as the controlling shareholder deemed the grant as the time when the employee and non-employees are entitled to economic benefits and risks of the subsequent changes in fair value of the granted shares accordingly to the agreed vesting period.

153266

1.125 shares of the Company were vested, with remaining 0.375 shares unvested.

11. Related party transactions Hoansoo Lee serves as the Company’s Chief Executive Officer and Chief Financial Officer. The Company has entered into a consulting services agreement with Hoansoo Lee, pursuant to which Hoansoo Lee provides strategic consulting and advisory services to the Company. For the years ended June 30, 2025 and 2026, the Company incurred consulting service fees of $100,150 and $27,000, respectively. As of June 30, 2025 and 2026, there were no outstanding balances payable to Hoansoo Lee as all amounts had been fully settled during the respective periods.

100150 27000 0 0

12. Basic and diluted net loss per share Basic loss per share and diluted loss per share have been calculated in accordance with ASC 260, “Earnings Per Share” on computation of earnings per share for the years ended June 30, 2025 and 2026 as follows: <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zFGCfqpapES9" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Basic and diluted net loss per share (Details)"> <tr style="background-color: White; vertical-align: bottom"> <td id="xdx_8B1_zixKGKP5jQX" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of basic share and diluted</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_497_20240701__20250630_zorm1QzY7v8h" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_491_20250701__20260630_zBOnfWEn34Xh" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_40E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_zhmFXOjoIA4" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Net loss attributable to common shareholders</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">(7,659,667</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">(12,162,391</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">)</td> </tr> <tr style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_409_ecustom--DenominatorAbstract_iB_zpUuOUDHU98g" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Denominator:</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Weighted-average shares of common stock outstanding(i)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">1,500</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">1,500</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Basic and diluted loss per share</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left">$</td> <td style="font: 10pt Times New Roman; text-align: right">(5,106.44</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(8,108.26</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top"> <td id="xdx_F02_zh5tnZPjqar6" style="font: 10pt Times New Roman; width: 0.25in; text-align: justify">(i)</td> <td id="xdx_F13_zOVJGRTw9kd9" style="font: 10pt Times New Roman; text-align: justify"> In January 2026, the Company adopted an Amended and Restated Certificate of Incorporation, which established a dual-class common stock structure. Under this new structure, the Company’s equity is divided into 303 shares of Class A common stock and 1,197 shares of Class B common stock, which are entitled to one (1) vote and twenty (20) votes per share, respectively. Despite the differential in voting power, Class A common stock and Class B common stock rank pari passu in all other respects, sharing ratably in dividends and any distributions upon liquidation.</td> </tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; text-align: justify">(ii)</td> <td style="font: 10pt Times New Roman; text-align: justify">For the fiscal years ended June 30, 2026 and 2025, diluted net loss per share was calculated in the same manner as basic net loss per share because there were no potential common stock equivalents outstanding during the periods presented.</td> </tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zFGCfqpapES9" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Basic and diluted net loss per share (Details)"> <tr style="background-color: White; vertical-align: bottom"> <td id="xdx_8B1_zixKGKP5jQX" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of basic share and diluted</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_497_20240701__20250630_zorm1QzY7v8h" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_491_20250701__20260630_zBOnfWEn34Xh" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_40E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_zhmFXOjoIA4" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Net loss attributable to common shareholders</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">(7,659,667</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">(12,162,391</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap">)</td> </tr> <tr style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_409_ecustom--DenominatorAbstract_iB_zpUuOUDHU98g" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Denominator:</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Weighted-average shares of common stock outstanding(i)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">1,500</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">1,500</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Basic and diluted loss per share</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left">$</td> <td style="font: 10pt Times New Roman; text-align: right">(5,106.44</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(8,108.26</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top"> <td id="xdx_F02_zh5tnZPjqar6" style="font: 10pt Times New Roman; width: 0.25in; text-align: justify">(i)</td> <td id="xdx_F13_zOVJGRTw9kd9" style="font: 10pt Times New Roman; text-align: justify"> In January 2026, the Company adopted an Amended and Restated Certificate of Incorporation, which established a dual-class common stock structure. Under this new structure, the Company’s equity is divided into 303 shares of Class A common stock and 1,197 shares of Class B common stock, which are entitled to one (1) vote and twenty (20) votes per share, respectively. Despite the differential in voting power, Class A common stock and Class B common stock rank pari passu in all other respects, sharing ratably in dividends and any distributions upon liquidation.</td> </tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman; text-align: justify">(ii)</td> <td style="font: 10pt Times New Roman; text-align: justify">For the fiscal years ended June 30, 2026 and 2025, diluted net loss per share was calculated in the same manner as basic net loss per share because there were no potential common stock equivalents outstanding during the periods presented.</td> </tr> </table>

-7659667

-12162391

1500

-5106.44

-8108.26

13. Segment information The Company manages its business in a centralized manner and operates as a single segment and accordingly has only one operating and reportable segment, the provision of GPU computing platform services. The Company’s Chief Executive Officer serves as the CODM. The CODM regularly reviews entity-wide operating results and reviews consolidated revenues and net loss as reported in the statement of operations and comprehensive loss when making decisions about allocating resources and assessing performance of the segment, and hence, the Company has only one reportable segment. The primary measures of segment revenue and profitability for the Company’s operating segment are considered to be consolidated revenue and net loss. The CODM uses consolidated revenue to assess market performance and growth, and net loss to evaluate segment profitability and cost management. Both measures are used together to allocate resources, including employee or capital resources. Significant expense categories regularly provided to and reviewed by the CODM include those presented in the statements of operations and comprehensive loss as well as disaggregated expenses of staff costs and employee benefits, professional service expenses, share-based compensation, and other general and administrative expenses. The following table presents the segment information of the Company for the measurement of segment profitability for the years ended June 30, 2025 and 2026: <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zOqUszyka2Bl" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Segment information (Details)"> <tr style="background-color: White; vertical-align: bottom"> <td id="xdx_8B4_zcyNwDHMMudg" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of segment information</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_492_20240701__20250630_zNJCgoM3a293" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_492_20250701__20260630_zK0rfIwBUqyf" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_401_eus-gaap--Revenues_i_pp0p" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Revenues</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">7,015,512</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">14,822,799</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_401_eus-gaap--CostOfRevenue_iN_di_zgW9jDTNp39j" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Cost of revenues</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(5,910,315</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(12,404,546</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr id="xdx_40E_eus-gaap--GrossProfit_iB_zYJTaQuAiYYe" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Gross profit</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">1,105,197</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">2,418,253</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_40E_eus-gaap--ResearchAndDevelopmentExpenseAbstract_i" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Research and development expenses</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_40A_ecustom--OutsourcingResearchAndDevelopmentExpenses_zcVcwJv6TDsa" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">– Outsourcing research and development expenses</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(2,787,346</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(4,079,430</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_406_ecustom--ComputingPowerCostsAndOthers_zRM1ZNVXRjy7" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">– Computing power costs and others</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(10,560</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(1,410,755</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_400_eus-gaap--SellingAndMarketingExpenseAbstract_i" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Selling and marketing expenses</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_40A_ecustom--StaffCostsEmployeeBenefitsAndOfficeExpenses_zWo3GIAC0ZH5" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">– Staff costs, employee benefits and office expenses</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(835,889</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(499,392</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_403_ecustom--ShareBasedCompensations_zBHlKVneVxEi" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">– Share-based compensation</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(153,266</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_40A_eus-gaap--SellingGeneralAndAdministrativeExpenseAbstract_iB_zUwBsR3zRo5d" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">General and administrative expenses</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_407_ecustom--StaffCostsEmployeeBenefitsAndOthers_zm3fGrqLnwZb" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">– Staff costs, employee benefits and Others</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(328,662</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(444,259</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_406_eus-gaap--ProfessionalAndContractServicesExpense_iN_pp0d_di_zn3OQPojoPFa" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">– Professional service expenses</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(34,320</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(785,257</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingIncomeLoss_i_pp0p" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Loss from operations</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(3,044,846</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(4,800,840</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr id="xdx_409_ecustom--ChangeInFairValueOfSimpleAgreementsForFutureEquity_iN_pp0d_di_zXgjSzaS84yb" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Change in fair value of simple agreements for future equity</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(4,614,821</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(7,377,383</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_401_eus-gaap--OtherIncome_i_pp0p" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Other income</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">15,832</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_403_eus-gaap--IncomeTaxExpenseBenefit_i_pp0p" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Income tax expenses</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr id="xdx_403_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_zpucKePMuaL6" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Net loss</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">(7,659,667</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">(12,162,391</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt">)</td> </tr> </table> Substantially all of the Company’s long-lived assets are located in the United States. The following table presents the Company’s revenue from major geographical areas for the periods indicated. <table cellpadding="0" cellspacing="0" id="xdx_890_eus-gaap--ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock_ziOid3POqdcc" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Segment information (Details 1)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B1_zvJtdaeibkld" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of geographic information</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Hong Kong</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">600,000</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">4,539,901</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">United States of America</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">2,085,579</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">3,913,744</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Canada</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">1,443,306</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">3,679,780</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Singapore</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">2,484,905</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">2,023,271</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">United Kingdom</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">391,722</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">666,103</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Others</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">10,000</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Total</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">7,015,512</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">14,822,799</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zOqUszyka2Bl" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Segment information (Details)"> <tr style="background-color: White; vertical-align: bottom"> <td id="xdx_8B4_zcyNwDHMMudg" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of segment information</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_492_20240701__20250630_zNJCgoM3a293" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td id="xdx_492_20250701__20260630_zK0rfIwBUqyf" style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_401_eus-gaap--Revenues_i_pp0p" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Revenues</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">7,015,512</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">14,822,799</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_401_eus-gaap--CostOfRevenue_iN_di_zgW9jDTNp39j" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Cost of revenues</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(5,910,315</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(12,404,546</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr id="xdx_40E_eus-gaap--GrossProfit_iB_zYJTaQuAiYYe" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Gross profit</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">1,105,197</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">2,418,253</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr id="xdx_40E_eus-gaap--ResearchAndDevelopmentExpenseAbstract_i" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Research and development expenses</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_40A_ecustom--OutsourcingResearchAndDevelopmentExpenses_zcVcwJv6TDsa" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">– Outsourcing research and development expenses</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(2,787,346</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(4,079,430</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_406_ecustom--ComputingPowerCostsAndOthers_zRM1ZNVXRjy7" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">– Computing power costs and others</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(10,560</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(1,410,755</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_400_eus-gaap--SellingAndMarketingExpenseAbstract_i" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Selling and marketing expenses</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_40A_ecustom--StaffCostsEmployeeBenefitsAndOfficeExpenses_zWo3GIAC0ZH5" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">– Staff costs, employee benefits and office expenses</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(835,889</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(499,392</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_403_ecustom--ShareBasedCompensations_zBHlKVneVxEi" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">– Share-based compensation</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(153,266</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_40A_eus-gaap--SellingGeneralAndAdministrativeExpenseAbstract_iB_zUwBsR3zRo5d" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">General and administrative expenses</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_407_ecustom--StaffCostsEmployeeBenefitsAndOthers_zm3fGrqLnwZb" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">– Staff costs, employee benefits and Others</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(328,662</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(444,259</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_406_eus-gaap--ProfessionalAndContractServicesExpense_iN_pp0d_di_zn3OQPojoPFa" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">– Professional service expenses</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(34,320</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(785,257</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingIncomeLoss_i_pp0p" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Loss from operations</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(3,044,846</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">(4,800,840</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt">)</td> </tr> <tr id="xdx_409_ecustom--ChangeInFairValueOfSimpleAgreementsForFutureEquity_iN_pp0d_di_zXgjSzaS84yb" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Change in fair value of simple agreements for future equity</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(4,614,821</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">(7,377,383</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap">)</td> </tr> <tr id="xdx_401_eus-gaap--OtherIncome_i_pp0p" style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Other income</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">15,832</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr id="xdx_403_eus-gaap--IncomeTaxExpenseBenefit_i_pp0p" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Income tax expenses</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: White; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr id="xdx_403_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_zpucKePMuaL6" style="background-color: rgb(204,238,255); vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Net loss</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">(7,659,667</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt">)</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">(12,162,391</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt">)</td> </tr> </table>

7015512

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5910315

12404546

1105197

2418253

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34320

785257

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4614821 7377383

15832

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<table cellpadding="0" cellspacing="0" id="xdx_890_eus-gaap--ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock_ziOid3POqdcc" style="font: 10pt Times New Roman; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Segment information (Details 1)"> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td id="xdx_8B1_zvJtdaeibkld" style="font: 10pt Times New Roman; display: none; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Schedule of geographic information</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right"> </td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td></tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">For the Years Ended June 30,</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2025</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: center">2026</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Hong Kong</td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">600,000</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman; width: 1%"> </td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman; width: 9%; text-align: right">4,539,901</td> <td style="font: 10pt Times New Roman; width: 1%; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">United States of America</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">2,085,579</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">3,913,744</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Canada</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">1,443,306</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">3,679,780</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">Singapore</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">2,484,905</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">2,023,271</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in">United Kingdom</td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">391,722</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman"> </td> <td style="font: 10pt Times New Roman; text-align: left"> </td> <td style="font: 10pt Times New Roman; text-align: right">666,103</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap"> </td> </tr> <tr style="background-color: #FFFFFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 0.5pt">Others</td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">10,000</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 0.5pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman; text-align: right">-</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 0.5pt"> </td> </tr> <tr style="background-color: #CCEEFF; vertical-align: bottom"> <td style="font: 10pt Times New Roman; text-align: left; vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.25pt">Total</td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">7,015,512</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> <td style="font: 10pt Times New Roman; padding-bottom: 1.25pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman; text-align: right">14,822,799</td> <td style="font: 10pt Times New Roman; text-align: left; white-space: nowrap; padding-bottom: 1.25pt"> </td> </tr> </table>

600000

4539901

2085579

3913744

1443306

3679780

2484905

2023271

391722

666103

10000

7015512

14822799

14. Commitments and contingencies From inception to date, the Company has not been a party to any legal proceedings, claims, or disputes arising in the ordinary course of business. As of June 30, 2026, the Company had no outstanding litigation, and there were no commitments or contingencies that management believes would have a material effect on the consolidated financial statements.

15. Subsequent events The Company evaluated all events and transactions that occurred after June 30, 2026, up through September 28, 2026, which is the date that these consolidated financial statements are issued, unless as disclosed elsewhere and below, no other material subsequent events occurred that would require recognition or disclosure in the Company’s consolidated financial statements. SAFEs From July 1, 2026 to September 28, 2026, an investor provided $1.0 million to the Company in the form of a SAFE. Convertible Loan On July 16, 2026, the Company, as lender, entered into a convertible loan agreement with a third party in the principal amount of approximately $1.5 million. The full loan amount was disbursed in July 2026. Business combination and Conversion of SAFEs instruments On August 27, 2026, Exascale Labs Holdings Inc. consummated the transactions contemplated by the Agreement and Plan of Merger dated January 11, 2026, by and among BCAR, PubCo, Merger Sub and the Company (the “Business Combination”). Prior to the Acquisition Merger, BCAR completed its domestication from the British Virgin Islands to Delaware by merging with and into PubCo, with PubCo surviving as a Delaware corporation. In connection with the Domestication Merger, PubCo changed its name from “D. Boral ARC Merger Corporation” to “Exascale Labs Holdings Inc.” Following the Domestication Merger, Merger Sub merged with and into the Company, with the Company surviving as a wholly owned subsidiary of PubCo. In connection with the Acquisition Merger, the outstanding equity interests of the Company were cancelled and converted into shares of PubCo common stock. The outstanding SAFEs of the Company were cancelled and converted into the right to receive shares of PubCo Class A common stock based on the applicable SAFE holders’ implied ownership percentages. The shares of PubCo Class A common stock received in connection with the SAFE conversion constituted full satisfaction of their rights under the applicable SAFEs and were subject to a six-month lock-up period following the Closing Date. Upon the closing of the Business Combination, the Company’s former securityholders received an aggregate of 19,354,261 shares of PubCo Class A common stock and 30,645,739 shares of PubCo Class B Common stock, representing aggregate merger consideration of $500.0 million based on a deemed value of $10.00 per share. The Class B Common stock have 20 votes per share, while the Class A common stock have one vote per share. The Business Combination was accounted for as a reverse recapitalization, with the Company identified as the accounting acquirer and BCAR identified as the accounting acquiree for financial reporting purposes. The Class A common stock and warrants of PubCo commenced trading on Nasdaq on August 28, 2026 under the symbols “XLAB” and “XLABW,” respectively. Non-Binding Memorandum of Understanding for Potential Data Center Collaboration On July 21, 2026, the Company entered into a non-binding memorandum of understanding with a third party to explore the joint development and commercialization of multiple data centers in Japan with an aggregate targeted capacity of at least 20 MW, including the potential deployment of the Company’s GaaS and cluster management solutions on the third party’s infrastructure. The memorandum of understanding is not legally binding, other than with respect to customary confidentiality and termination provisions, and does not obligate either party to enter into a definitive agreement, and there can be no assurance that any transaction or definitive agreement will be consummated. Compute Service Agreement for GPU Capacity On July 15, 2026, the <span id="xdx_90B_ecustom--ComputeServiceAgreementDescription_c20260701__20260715__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zWvzw3ucJvB7" title="Compute service agreement description">Company entered into a Compute Service Agreement with a third party to secure GPU compute capacity of approximately 4,000 PFLOPS (FP16) over a three-year term, for total contracted service fees of approximately $71 million. As of the date of this report, service delivery under the agreement has not commenced and no payment obligations have arisen.

1000000.0

1500000

Company’s former securityholders received an aggregate of 19,354,261 shares of PubCo Class A common stock and 30,645,739 shares of PubCo Class B Common stock, representing aggregate merger consideration of $500.0 million based on a deemed value of $10.00 per share. The Class B Common stock have 20 votes per share, while the Class A common stock have one vote per share. Company entered into a Compute Service Agreement with a third party to secure GPU compute capacity of approximately 4,000 PFLOPS (FP16) over a three-year term, for total contracted service fees of approximately $71 million. As of the date of this report, service delivery under the agreement has not commenced and no payment obligations have arisen. Includes an aggregate of 321,429 Ordinary Shares cancelled on September 9, 2025 to the extent that the underwriters’ over-allotment was not exercised. The Company classifies its SAFEs as financial liabilities measured at fair value. The value of these agreements depends significantly on future financing activities, liquidity events, or other material milestones, and their valuation relies on significant inputs that are not observable in the public market. Accordingly, they are classified within Level 3 of the fair value hierarchy. The fair value measurement is based on an integrated framework combining scenario analysis and financial instrument decomposition (i.e. Bond Plus Call Method). As of June 30, 2026, the proceeds of the SAFEs on the date of issuance were $14,092,500. The details of significant unobservable inputs can refer to Note 8-Simple Agreements for Future Equity for further details. Equity options. On May 9, 2023, the Company entered into an agreement with a third-party service provider (the “Service Provider”). The Service Provider received a freestanding equity-linked right exercisable, at the Service Provider’s option, upon the closing of the Company’s next qualified equity financing. The right provides the ability to subscribe for up to the value of $200,000 at a 25% discount price per share on the grant date. The equity option is remeasured at fair value at each reporting date, with changes in fair value recognized in earnings. As of June 30, 2025 and 2026, the fair value of the equity option was $53,333, and no gain or loss from changes in fair value was recognized for the periods presented. The fair value measurement of the equity option is categorized within Level 3 of the fair value hierarchy and was determined using a scenario-based analysis, which incorporates significant unobservable inputs and management judgment regarding the probability and timing of potential future financing outcomes. The Company acquired a total of 991,601 USDT at a cost of $991,601 from revenues and other current assets. The Company acquired a total of 6,275,251 USDC at a cost of $ 6,275,251 from revenues, USDC rewards, other current assets and investment proceeds from SAFEs. The Company uses digital assets and USDC to settle professional services fees and other expenditures, and any digital assets held may be converted into USDC, as needed. Volatility: Derived with reference to historical price volatility of comparable companies Risk-free rate: Derived with reference to U.S. sovereign bond yield Credit spread: Risk premium over the risk-free rate, derived with reference to the spread of CCC rated bonds Discount rate: Sum of risk-free rate and credit spread Dividend yield: Derived with reference to historical dividend record of the Company In January 2026, the Company adopted an Amended and Restated Certificate of Incorporation, which established a dual-class common stock structure. Under this new structure, the Company’s equity is divided into 303 shares of Class A common stock and 1,197 shares of Class B common stock, which are entitled to one (1) vote and twenty (20) votes per share, respectively. Despite the differential in voting power, Class A common stock and Class B common stock rank pari passu in all other respects, sharing ratably in dividends and any distributions upon liquidation.