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Subsequent Events
9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events

Note 15 – Subsequent events

 

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to November 3, 2025, which is the date that the unaudited interim condensed consolidated financial statements were available to be issued. Based on this review, other than disclosed below, the Company did not identify any subsequent event that would have required adjustment or disclosure in the unaudited interim condensed consolidated financial statements.

 

On October 8, 2025, the Company filed an amendment to its Articles of Incorporation to increase its authorized capital stock. The number of authorized shares of common stock was increased from 200,000,000 shares to 10,000,000,000 shares, and the number of authorized shares of preferred stock was increased from 20,000,000 shares to 1,000,000,000 shares. The amendment was approved by the Nevada Secretary of State on October 13, 2025.

 

On October 24, 2025, the Company entered into securities purchase agreements (the “October 2025 Securities Purchase Agreement”) with certain accredited investor, pursuant to which the Company agreed to issue and sell, in a private placement (the “October 2025 Private Placement”), an aggregate of 1,333,334 shares of the Company’s common stock at a purchase price of $2.10 per share, for gross proceeds in the amount of $2,800,000. The Company plans to use the process for working capital and general corporate purposes.

 

Pursuant to the October 2025 Securities Purchase Agreement, the Company has agreed to use commercially reasonable efforts to, within sixty (60) calendar days after the date of the October 2025 Securities Purchase Agreement, file a registration statement on the appropriate form providing for the resale by the Investor of the Shares.

 

In connection with the October 2025 Private Placement, on October 24, 2025, the Company entered into a placement agency agreement (the “October 2025 Placement Agency Agreement”) with Univest (the “Placement Agent”). The Company agreed to pay the Placement Agent a total cash fee equal to seven percent (7%) of the aggregate gross proceeds raised in the October 2025 Private Placement. The Company has also agreed to reimburse the Placement Agent for all reasonable and out-of-pocket expenses incurred in connection with the Private Placement, including reasonable fees and expenses of the Placement Agent’s legal counsel and due diligence analysis up to $20,000. The Company also paid $40,000 legal fee to third party upon closing of the October 2025 Private Placement.