Financial Analysis

16. COMMITMENTS AND CONTINGENCIES As of December 31, 2024 and 2023, the Company has no material commitments or contingencies.

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13. PENSION COSTS The Company is required to make contribution under a defined contribution pension scheme for all of its eligible employees in Hong Kong. The Company is required to contribute a specified percentage of the participants relevant income based on their ages and wages level. The total contributions made were $ 0 and $ 0 for the years ended December 31, 2024 and 2023, respectively. …

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Debt issued with common stock Debt issued with common stock is accounted for under the guidelines established by ASC 470-20 Accounting for Debt With Conversion or Other Options . The Company recorded the relative fair value of common stock and warrants related to the issuance of debt as a debt discount or premium. The discount or premium is subsequently amortized to interest expense over the expected term of the debt. …

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11. INCOME TAX The income tax expense as shown in the accompanying consolidated statements of operations consists of the following: Schedule of income tax expense consolidated statements of operations Years ended December 31, 2024 2023 Current: Domestic $ $ Foreign Deferred: Domestic Foreign Income tax expense $ $ The effective tax rate in the years presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rate. The Company operates in various countries: United States of America, BVI, Malaysia, Hong Kong, and other parts of Asia, that are subject to taxes in the jurisdictions in which they operate, as follows: United States of America LDSN is registered in the State of Delaware and is subject to US federal corporate income tax. The U.S. Tax Cuts and Jobs Act (the Tax Reform Act) was signed into law. The Tax Reform Act significantly revised the U.S. corporate income tax regime by, among other things, lowering the U.S. corporate tax rate from 35% to 21% effective January 1, 2018. The Companys policy is to recognize accrued interest and penalties related to unrecognized tax benefits in its income tax provision. The Company has not accrued or paid interest or penalties which were not material to its results of operations for the periods presented. Deferred tax asset is not provided for as the tax losses may not be able to carry forward after a change in substantial ownership of the Company in May 2020. As of December 3 …

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Recent accounting pronouncements Management does not believe that any recently issued, but not yet effective, accounting standards could have a material effect on the accompanying consolidated financial statements. As new accounting pronouncements are issued, we will adopt those that are applicable under the circumstances. …

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14. RELATED PARTY TRANSACTIONS During the year ended December 31, 2023, Man Fai Cheng and Ho Chi Wan made advancements of $ 4,994 and $ 35,892 to pay for the Companys operating expenses, respectively. On December 20, 2024, in line with the Companys revisited investment focus, the Hong Kong Subsidiaries were disposed of to Ms. Ho Chi Wan. The Company disposed of the Hong Kong Subsidiaries to its majority shareholder, Ms. Ho Chi Wan for no consideration. In accordance with common control accounting, the carrying amount of the net liabilities disposed of ($ 978,076 ) was recognized as a contribution to additional paid-in capital. The amount due to Ho Chi Wan was disposed of as part of the disposal of the Hong Kong Subsidiaries. During the year ended December 31, 2024, Man Fai Cheng made advancements of $ 9,143 to pay for the Companys operating expenses. As of December 31, 2024, the Company has no other related party transactions. Amounts to from (to) related parties As of December 31, 2024 and 2023, the Company has $ 14,137 and $ 4,994 due to related parties, respectively. As of December 31, 2024 and 2023, the Company has $ 0 and $ 0 due from related parties, respectively. …

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7. BUSINESS SEGMENT The Company considers its business activities to constitute one reportable segment, entertainment and consultancy. The Companys revenues for the one reportable segment for the years ended December 31, 2024 and 2023 are nil . …

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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying consolidated financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying consolidated financial statements and notes. Basis of presentation These accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (US GAAP). Use of estimates and assumptions In preparing these consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the years reported. Actual results may differ from these estimates. Basis of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation. Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. Revenue recognition The Company recognizes revenue from its contracts with customers in accordance with ASC 606 Revenue from Contracts with Customers. The Company recognizes revenue …

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10. SHAREHOLDERS EQUITY Authorized shares As of December 31, 2024, the authorized share capital of the Company consisted of 1,000,000,000 shares of common stock with $ 0.0001 par value (December 31, 2023: 1,000,000,000 shares of common stock). No other classes of stock are authorized. Issued and outstanding shares All shares issued by the Company, except explicitly stated, are issued at a fair value of $ 0.0124 , as determined by the fair value per share of the Company at the Reverse Takeover. On May 30, 2023, the Company approved an issuance of 47,000,000 common shares to Siu Chung Cheung and recipients (CHEUNG el.) to settle $ 4,700 of a total of $ 41,000 outstanding debt. The shares were issued on July 12 and 13, 2023, respectively. On July 06, 2023, the Company completed the Reverse Takeover of Glamourous Group Holding Limited (GGHI), a limited liability company incorporated in the United Kingdom of England and Wales, by the issuance of 320,000,000 common shares to Ho Chi Wan, the sole shareholder of GGHI, on July 01, 2023. The issuance of the shares was exempt from registration under the Securities Act of 1933 pursuant to Section 4(a)(2) thereof on the basis that the transaction did not involve a public offering. The shares are subject to restrictions on resale pursuant to Commission Rule 144 under the Securities Act. All share transactions are calculated with an effective share price of $ 0.0124 in relation to the value of the Company prior to the Reverse Takeover. On J …

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17. 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 after December 31, 2024, up through the date the Company issued the consolidated financial statements. The Company has determined that there are no material subsequent events that require adjustment or disclosure to the consolidated financial statements, except for those disclosed below and elsewhere in these consolidated financial statements. On October 1, 2025, the Company effected a business combination with Aphoenity International Holdings Inc, a Wyoming entity, which subsequently succeeded the prior Delaware entity as holding company of the group structure. Aphoenity International Holdings Incs board of directors and officers are composed of the same members as Luduson G Inc., and its shareholding structure is identical to Luduson G Inc. at the time it succeeded Luduson G Inc. as holding company of the group structure. …

SubsequentEventsTextBlock · excerpt; the full note is in the filing