Financial Analysis

Note 14 Commitments and contingencies From time to time, we may be involved in litigation relating to claims arising out of our operations in the normal course of business. On July 23, 2024, the Company reached a settlement with a subcontractors customer for $ 73,000 . In December 2024, a former shareholder of the Company (the Shareholder) filed a complaint against the Company and other entities and individuals affiliated with the Company in the Orange County Superior Court of California, alleging financial losses related to his investment in entities affiliated with the Company. The Shareholder claims he invested approximately $500,000 and later sold his shares for $7 million but alleges that, absent interference by an initial public offering organizer, the shares could have been sold for $9 million. Accordingly, he claims to have lost a potential gain of $2 million . The case is currently in the pre-answer stage. The Company has filed a petition to compel arbitration, seeking to move the dispute to arbitration in Texas. A demurrer has also been filed on behalf of one of the individual defendants represented by the Companys counsel, challenging the legal sufficiency of the complaint. The Company believes that the complaint is without any merit and intends to defend the matter vigorously. Since the case is currently in the pre-answer stage, an estimate of the possible loss or range of loss cannot be made at this moment. Except as set forth above, we are not currently a party …

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Note 8 Loans payable Shont term loan without interest From June 2023 to August 2023, the Company borrowed short-term loans due on demand without interest, amounting to $ 230,000 from three individuals for operating purposes. As of September 30, 2025 and 2024, the outstanding balance due to these individuals were $ 50,000 and $ 50,000 , respectively. The balance was presented on the consolidated balance sheet as a short-term loan. …

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Note 17 Stock-based compensation The Company recorded stock-based compensation expense as follows: Schedule of stock-based compensation expense 2025 2024 For the Years Ended September 30, 2025 2024 Restricted stock: Stock awards $ 2,185,205 $ 146,333 Total $ 2,185,205 $ 146,333 On January 16, 2025, pursuant to the Omnibus Incentive Plan, the Company granted 150,000 shares of our common stock to our Chief Executive Officer Ding Wei, and 51,355 shares of our common stock to our Chief Financial Officer Mengshu Shao. The stock grant does not have vesting period. The price of the granted stocks is based on the closing price of the Companys stock on grant date, which is $ 5.17 per share. As of September 30, 2025, there was no outstanding restricted shares under the Omnibus Incentive Plan. On May 28, 2025, pursuant to 2025 Omnibus Incentive Plan, the Company granted 880,000 shares of its common stock to the Companys employees. The stock grant does not have vesting period. The price of the granted stocks is based on the closing price of the Companys stock on grant date, which is $ 1.29 per share. As of September 30, 2025, there was no outstanding restricted shares under the 2025 Omnibus Incentive Plan. …

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Note 15 Income taxes United States On December 22, 2017, the President of the United States signed into law H.R.1, formerly known as the Tax Cuts and Jobs Act (the Tax Legislation). The Tax Legislation significantly revised the U.S. tax code by (i) lowering the U.S. federal statutory income tax rate from 35 % to 21 %, (ii) implementing a territorial tax system, (iii) imposing a one-time transition tax on deemed repatriated earnings of foreign subsidiaries, (iv) requiring a current inclusion of global intangible low taxed income of certain earnings of controlled foreign corporations in U.S. federal taxable income, (v) creating the base erosion anti-abuse tax regime, (vi) implementing bonus depreciation that will allow for full expensing of qualified property, and (vii) limiting deductibility of interest and executive compensation expense, among other changes. The Company has computed its tax expenses using the new statutory rate effective on January 1, 2018 of 21 %. Other provisions of the new legislation include, but are not limited to, limiting deductibility of interest and executive compensation expense. These additional items have been considered in the income tax provision for the years ended September 30, 2025 and 2024. Texas imposes a franchise tax that applies to most business entities that are formed or qualified to do business, or which are otherwise doing business, in Texas. Under the Texas franchise tax, a 0.75 % tax is imposed for the years ended September 30, 202 …

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Recently issued but not yet adopted accounting pronouncements In July 2025, the One Big Beautiful Bill Act (OBBBA) was enacted in the United States. The legislation includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Act and Jobs Act, modifications to the international tax framework, and the restoration of favorable business tax provisions, such as 100% bonus depreciation and the business interest expense limitation, among others. The legislation contains multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. While we are continuing to evaluate the full impact of the legislation, we do not expect the OBBBA to have a material effect on our fiscal 2025 effective tax rate. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures. The new guidance requires enhanced disclosures about income tax expenses. The Company is required to adopt this guidance in the first quarter of the fiscal year 2026. Early adoption is permitted on a prospective basis. We are currently evaluating the impact of this ASU on our annual income tax disclosures. In June 2022, FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The amendments in this ASU clarify the guidance in ASC 820 on the fair value measurement of an equity security that is subject to a co …

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Note 11 Related party transactions The Company borrows short term loans without interest from its Former CEO, Mr. Dekui Liu, for operation and cashflow needs from time to time. As of September 30, 2025 and 2024, the amount due to Mr. Liu was $ Nil and $ 1,000 , respectively. Starting in December 2022, for operation and cashflow needs, the Company advances funds from Zfounder Organization Inc., (Zfounder), one of the Companys minority shareholders, and Wise Hill Inc., (Wise Hill), a company owned by a former shareholder of the Company who also serves as the CEO and Board member of Zfounder. The advanced amounts are non-interest bearing. As of September 30, 2025 and 2024, the outstanding balance, due to Zfounder and Wise Hill, were $ Nil and $ Nil , respectively. During the year ended September 31, 2025, other income of employee lease service from Zfounder was $ 34,000 . Zfounder was a principal shareholder of the Company as of September 30, 2024. In October 2024, Zfounder sold most of its shares of the Company to third parties, after which it became a minority shareholder of the Company, so both Zfounder and Wise Hill are no longer considered as related parties of the Company. In March 2023, the Company entered into an agreement with Vision Opportunity Fund LP, a Florida limited partnership partially owned by a minority shareholder of the Company, who also serves as the CEO and Board member of Zfounder. In August 2023, all rights, obligations and interests under the agreement …

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Note 16 Segment Information Reportable Segments The Company operates as a single reportable segment, which is consistent with how the Chief Operating Decision Maker (CODM), the Chief Executive Officer, allocates resources and assesses performance. The Companys operations are centralized and integrated, with financial results reviewed and managed on a consolidated basis. Accordingly, management has determined that the Company has one reportable segment under ASC Topic 280, Segment Reporting. Measure of Segment Profit or Loss The CODM reviews financial information on a consolidated basis, using Net Income as the primary measure of segment performance to monitor budget versus actual results and decide where to allocate and invest additional resources to achieve continued growth. Net Income is defined as revenue less cost of goods sold and operating expenses, and other segment items (including interest income, interest expense, other income and other expenses), and income taxes. Significant Segment Expense Categories Provided to the CODM The CODM regularly receives and reviews the following expense categories, which are included in the segments measure of profit or loss. Schedule of segment information 2025 2024 For the Years Ended September 30, 2025 2024 Revenues $ 2,846,250 $ - Cost of revenues 2,790,500 - Sales and marketing expenses Marketing service expenses 120,000 27,272 General and administrative expenses Payroll and stock-based compensation expenses 2,358,751 146,333 Pro …

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Note 2 Basis of Presentation and Summary of significant accounting policies Basis of presentation The accompanying financial statements have been prepared in accordance with the generally accepted accounting principles in the United States of America (U.S. GAAP) and pursuant to the rules and regulations of the Securities Exchange Commission (SEC). The Companys fiscal year end date is September 30. Consolidated principles of consolidation The Consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company balances and transactions have been eliminated. Reclassifications Certain amounts on the prior years consolidated balance sheets, consolidated statements of operations and cash flows were reclassified to conform to the current year presentation, with no effect on ending stockholders equity. Going concern As of September 30, 2025, the Company had total cash and cash equivalent of $ 10,130,942 and accumulated deficit of $ 14,818,007 . For the year ended September 30, 2025, the Company had incurred a net loss of $ 7,009,846 and net cash used cash in operations of $ 4,728,738 . These conditions raise substantial doubt about the Companys ability to continue as a going concern. Based on our current operating and investing plan, the management has concluded that substantial doubt is not alleviated regarding the Companys ability to continue as a going concern for 12 months from the date of issuance of these financial statements. The Compa …

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Note 12 Equity The Company was incorporated in Texas on September 8, 2021. The total authorized shares of capital stock were 200,000,000 shares without par value. On November 30, 2022, the Company effected a forward stock split (the Stock Split) of the Companys issued and outstanding shares of the common stock at a split ratio of 2-for-1 . Further on July 24, 2023, the Company effected a reverse stock split (the Reverse Stock Split) of the Companys issued and outstanding shares of the common stock at a split ratio of 1-for-2 such that every holder of common stock of the Company shall receive one share of common stock for every two shares of common stock held and to reduce the number of authorized shares of common stock from 200,000,000 to 100,000,000 . Shortly after the Reverse Stock Split, the Board of Directors of the Company approved issuance of additional shares to preserve the original purchase price per share of the shares sold in the period from February 1 to June 30, 2023. On October 9, 2024, the Company completed a 1-for-10 reverse stock split of its issued and outstanding common stock, no par value, (the Reverse Stock Split). As a result of the Reverse Stock Split, each share of common stock issued and outstanding immediately prior to October 9, 2024 were automatically converted into one-tenth (1/10) of a share of common stock . The Common Stock began trading on a Reverse Stock Split-adjusted basis on the Nasdaq Capital Market on October 10, 2024. The trading symbol …

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Note 18 Subsequent events On October 2, 2025, the Company entered into a loan agreement with a non-related party, providing a principal amount of $ 2,000,000 at an annual interest rate of 4.5 %. The loan term is twelve months, with the principal and accrued interest due for repayment on or before October 1, 2026. On November 12, 2025, the Company entered into a sales agreement (the Sales Agreement) with Aegis Capital Corp. (the Sales Agent), pursuant to which the Company may offer and sell, from time to time, to or through the Sales Agent, shares of the Companys common stock, with no par value, having an aggregate offering price of up to $ 50.0 million (the Placement Shares). The Company is not obligated to sell any Placement Shares under the Sales Agreement. Subject to the terms and conditions of the Sales Agreement, the Sales Agent will use commercially reasonable efforts, consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules of The Nasdaq Stock Market LLC (Nasdaq), to sell Placement Shares from time to time based upon the Companys notice and instructions, up to the amount specified therein. Under the Sales Agreement, the Sales Agent may sell Placement Shares by any method permitted by law deemed to be an at the market offering as defined in Rule 415(a)(4) under the Securities Act of 1933, including sales made directly on Nasdaq or on any other existing trading market or directly to the Sales Agent …

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