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Condensed financial information of the parent company (Tables)
12 Months Ended
Sep. 30, 2024
Condensed financial information of the parent company  
Schedule of parent company's balance sheet

 

 

As of

 

 

As of

 

 

 

September 30,

 

 

September 30,

 

 

 

2024

 

 

2023

 

Assets

Current assets

 

 

 

 

 

 

Cash

 

$463

 

 

$32,589

 

Other current assets

 

 

128,998

 

 

 

-

 

Non-current assets

 

 

 

 

 

 

 

 

Investment in subsidiaries

 

 

97,308,651

 

 

 

103,950,542

 

Total assets

 

$97,438,112

 

 

$103,983,131

 

 

 

 

 

 

 

 

 

 

Liabilities and Shareholders’ Equity

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

Due to a related party

 

 

300,177

 

 

 

300,177

 

Accrued expenses and other current liabilities

 

 

225,518

 

 

 

120,720

 

Total liabilities

 

$525,695

 

 

$420,897

 

 

 

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shareholders’ equity

 

 

 

 

 

 

 

 

Class A ordinary share, no par value, unlimited number of shares authorized; 68,574,781 and 20,062,658 shares issued and outstanding as of September 30, 2023 and 2022, respectively

 

 

104,486,710

 

 

 

101,922,676

 

Class B ordinary share, no par value, unlimited number of shares authorized; 3,020,969 shares issued and outstanding as of September 30, 2023 and 2022.

 

 

4,231,055

 

 

 

4,231,055

 

Additional paid-in capital

 

 

8,865,199

 

 

 

8,865,199

 

Statutory reserves

 

 

14,990

 

 

 

526,217

 

Accumulated deficits 

 

 

(16,741,427)

 

 

(3,211,885)

Accumulated other comprehensive loss

 

 

(3,944,110)

 

 

(8,771,028)

Total shareholders’ equity

 

 

96,912,417

 

 

 

103,562,234

 

 

 

 

 

 

 

 

 

 

Total liabilities and shareholders’ equity

 

$97,438,112

 

 

$103,983,131

 

Schedule of parent company's statements of income and comprehensive income

 

 

For the years ended September 30,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

 

 

 

 

 

 

 

 

General and administrative expenses

 

$(8,006,889)

 

$(3,202,589)

 

$(218,663)

Equity in (loss) earnings of subsidiaries

 

 

(6,033,880

 

 

(2,423,151)

 

 

2,448,371

 

Net (loss) income

 

$(14,040,769)

 

$(5,625,740)

 

 

2,229,708

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

 

 

(14,040,769)

 

 

(5,625,740)

 

 

2,229,708

 

Foreign currency translation gain (loss)

 

 

4,826,918

 

 

 

(2,238,556)

 

 

(6,655,036)

Comprehensive loss

 

$(9,213,851

 

$(7,864,296)

 

$(4,425,328)
Schedule of parent company's statements of cash flows

 

 

For the years ended September 30,

 

 

 

2024

 

 

2023

 

 

2022

 

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

 

 

 

 

Net (loss) income

 

$(14,040,769)

 

$(5,625,740)

 

$2,229,708

 

Adjustments to reconcile net income to net cash used in operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for prepaid expenses and other current assets

 

 

32,249

 

 

 

-

 

 

 

-

 

Interest expenses

 

 

233,873

 

 

 

-

 

 

 

-

 

Amortization of debts issuance costs

 

 

-

 

 

 

277,500

 

 

 

-

 

Issuance of ordinary shares for services

 

 

-

 

 

 

1,100,000

 

 

 

-

 

Equity in loss (earnings) of subsidiaries

 

 

6,033,880

 

 

2,423,151

 

 

 

(2,448,371)

Prepaid expenses and other current assets

 

 

-

 

 

 

-

 

 

 

92,000

 

Accrued expenses and other current liabilities

 

 

104,799

 

 

 

278,521

 

 

 

(202,001)

Net cash used in operating activities

 

 

(7,635,968)

 

 

(1,546,568)

 

 

(328,664)

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

 

 

 

 

 

 

Other receivables

 

 

608,628

 

 

 

(769,875)

 

 

-

 

Purchase of treasury shares

 

 

(430)

 

 

-

 

 

 

-

 

Investment in subsidiaries

 

 

6,850,354

 

 

 

(9,676,000)

 

 

(3,211,899)

Net cash provided by (used in) investing activities

 

 

7,458,552

 

 

 

(10,445,875)

 

 

(3,211,899)

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

 

 

 

 

 

 

Issuance of Ordinary Shares for private placement

 

 

-

 

 

 

-

 

 

 

5,528,702

 

Proceeds from convertible notes

 

 

-

 

 

 

3,000,000

 

 

 

-

 

Proceeds from warrants exercised

 

 

145,290

 

 

 

8,945,433

 

 

 

-

 

Proceeds from related party loans

 

 

-

 

 

 

63,500

 

 

 

-

 

Repayment of related party loans

 

 

-

 

 

 

-

 

 

 

(1,980,145)

Net cash provided by financing activities

 

 

145,290

 

 

 

12,008,933

 

 

 

3,548,557

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CHANGES IN CASH

 

 

(32,126)

 

 

16,490

 

 

 

7,994

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH, beginning of year

 

 

32,589

 

 

 

16,099

 

 

 

8,105

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH, end of year

 

$463

 

 

$32,589

 

 

$16,099