<SEC-DOCUMENT>0001104659-25-015697.txt : 20250505
<SEC-HEADER>0001104659-25-015697.hdr.sgml : 20250505
<ACCEPTANCE-DATETIME>20250220163640
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-25-015697
CONFORMED SUBMISSION TYPE:	DRS
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20250220
<PUBLIC-REL-DATE>20250505
DATE AS OF CHANGE:		20250220

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Elite Express Holding Inc.
		CENTRAL INDEX KEY:			0002053641
		STANDARD INDUSTRIAL CLASSIFICATION:	TRUCKING & COURIER SERVICES (NO AIR) [4210]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				992516128
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		DRS
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	377-07742
		FILM NUMBER:		25646030

	BUSINESS ADDRESS:	
		STREET 1:		23046 AVENIDA DE LA CARLOTA
		STREET 2:		SUITE 600
		CITY:			LAGUNA HILLS
		STATE:			CA
		ZIP:			92653
		BUSINESS PHONE:		9497580650

	MAIL ADDRESS:	
		STREET 1:		23046 AVENIDA DE LA CARLOTA
		STREET 2:		SUITE 600
		CITY:			LAGUNA HILLS
		STATE:			CA
		ZIP:			92653
</SEC-HEADER>
<DOCUMENT>
<TYPE>DRS
<SEQUENCE>1
<FILENAME>filename1.htm
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>As
confidentially submitted to the&nbsp;U.S. Securities and Exchange Commission on&nbsp;</B></FONT><B>February 20, 2025. This draft
registration statement has not been filed publicly with the U.S. Securities and Exchange Commission, and all information herein
remains strictly confidential.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No.&nbsp;333-[&#9679;]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;S-1<BR>
REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>Elite Express
Holding Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 34%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4210</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;99-2516128</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or other jurisdiction
    of<BR>
    incorporation or organization)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Primary Standard Industrial<BR>
    Classification Code Number)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer<BR>
    Identification Number)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>23</B></FONT><B>046
Avenida De La Carlota, Suite&nbsp;600</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Laguna Hills, CA 92653</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(949) 758-0650</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address, including zip code, and telephone number,
including area code, of registrant&rsquo;s principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Yidan Chen</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Chief Executive Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>23046 Avenida De La Carlota, Suite&nbsp;600</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Laguna Hills, CA 92653</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(949) 758-0650</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, address, including zip code, and telephone
number, including area code, of agent for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>With a Copy to:</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Ying Li,&nbsp;Esq.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Sally
    Yin</B></FONT><B>,&nbsp;Esq.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Hunter Taubman Fischer&nbsp;&amp; Li LLC<BR>
    950 Third Avenue, 19<SUP>th</SUP> Floor<BR>
    New York, NY 10022<BR>
    (212) 530-2206</B></P></TD>
    <TD STYLE="width: 50%; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>David
                                            Danovitch, Esq.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Aaron Schleicher, Esq.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Sullivan &amp; Worcester LLP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1251 Avenue of the Americas, 19th Floor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, NY 10020</B></P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><B>(212) 660-3060</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Approximate
date of commencement of proposed sale to the public:</B></FONT> Promptly after the effective date of this registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If any of
    the securities being registered on this Form&nbsp;are to be offered on a delayed or continuous basis pursuant to Rule&nbsp;415 under
    the Securities Act of 1933 check the following box. </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If this Form&nbsp;is filed
    to register additional securities for an offering pursuant to Rule&nbsp;462(b)&nbsp;under the Securities Act, please check the following
    box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.
    </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If this Form&nbsp;is a
    post-effective amendment filed pursuant to Rule&nbsp;462(c)&nbsp;under the Securities Act, check the following box and list the Securities
    Act registration statement number of the earlier effective registration statement for the same offering </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If this Form&nbsp;is a
    post-effective amendment filed pursuant to Rule&nbsp;462(d)&nbsp;under the Securities Act, check the following box and list the Securities
    Act registration statement number of the earlier effective registration statement for the same offering </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer,
    a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of &ldquo;large accelerated
    filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo; and &ldquo;emerging growth company&rdquo;
    in Rule&nbsp;12b-2 of the Exchange Act.</TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Large accelerated filer&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></FONT></TD>
    <TD STYLE="width: 25%; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="width: 20%; padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Accelerated filer</FONT></TD>
    <TD STYLE="width: 30%; padding-bottom: 8pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Non-accelerated filer&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-size: 10pt">Smaller reporting company</FONT></TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Emerging growth company</FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 7(a)(2)(B) of the Securities Act <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The Registrant hereby amends this registration
statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which
specifically states that this registration statement shall thereafter become effective in accordance with Section&nbsp;8(a)&nbsp;of the
Securities Act of 1933, as amended, or until the registration statement shall become effective on such date as the U.S. Securities and
Exchange Commission, acting pursuant to such Section&nbsp;8(a), may determine.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; width: 100%; padding: 3pt; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red">The
    information in this prospectus is not complete and may be changed. We may not sell the securities until the registration statement
    filed with the U.S. Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and
    it is not soliciting any offer to buy these securities in any jurisdiction where such offer or sale is not permitted.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: red"><B>PRELIMINARY PROSPECTUS SUBJECT
TO COMPLETION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: red"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DATED
[&#9679;], 2025</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>[&#9679;] Shares of Class&nbsp;A Common
Stock</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm254980d1_drssp1img001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ELITE EXPRESS HOLDING INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This is an initial public offering on a firm commitment basis of _________
shares of Class&nbsp;A common stock, par value $0.000001 (&ldquo;Class A common stock&rdquo;), of Elite Express Holding Inc., a Delaware
corporation (&ldquo;ETS&rdquo;). Prior to this offering, there has been no public market for our Class&nbsp;A common stock. We expect
the initial public offering price of the Class A common stock to be in the range of $[&#9679;] to $[&#9679;] per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have reserved the symbol &ldquo;[&#9679;]&rdquo;
for purposes of listing our Class&nbsp;A common stock and plan to apply to list our Class&nbsp;A common stock on The Nasdaq Capital Market.
At this time, &nbsp;the Nasdaq Stock Market LLC (&ldquo;Nasdaq&rdquo;) has not yet approved our application to list our Class&nbsp;A
common stock. The closing of this offering is conditioned upon Nasdaq&rsquo;s final approval of our listing application, and there is
no guarantee or assurance that our Class&nbsp;A common stock will be approved for listing on The Nasdaq Capital Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are an &ldquo;emerging growth company&rdquo;
as that term is used in the Jumpstart Our Business Startups Act of 2012 (the &ldquo;JOBS Act&rdquo;) and, as such, have elected to comply
with certain reduced public company reporting requirements for this prospectus and future filings. See &ldquo;Prospectus Summary&mdash;Implications
of Being an Emerging Growth Company.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Additionally, we are, and following the completion of this offering,
will continue to be a &ldquo;controlled company&rdquo; as defined under Nasdaq Rule&nbsp;5615(c). Huan Liu, our Chairman of the Board
of Directors, will be able to exercise [&#9679;]% ([&#9679;]% if the over-allotment option is exercised in full) of the aggregate voting
power of our issued and outstanding shares of Class&nbsp;A common stock and Class&nbsp;B common stock and will be able to determine all
matters requiring approval by our stockholders, immediately after the consummation of this offering, assuming the sales of [&#9679;] shares
of Class&nbsp;A common stock we are offering. For further information, see &ldquo;Principal Stockholders.&rdquo; We do not intend to avail
ourselves of the corporate governance exemptions afforded to a &ldquo;controlled company&rdquo; under the Nasdaq Rules. However, our decision
not to rely on the &ldquo;controlled company&rdquo; exemption could change. See &ldquo;Risk Factors&rdquo; and &ldquo;Management&mdash;Controlled
Company.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Investing in our Class&nbsp;A common stock
involves a high degree of risk. See &ldquo;Risk Factors&rdquo; beginning on page&nbsp;9 of this prospectus.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Per
    Share</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total
    <BR>
    Without<BR>
    Over-<BR>
    Allotment<BR>
    Option</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total
    With<BR>
    Over-<BR>
    Allotment <BR>
    Option</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 67%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Initial public offering price
    of Class&nbsp;A common stock</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Underwriters' discounts and commissions<SUP>(1)</SUP></B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proceeds to our company before expenses<SUP>(2)</SUP></B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting
    discounts and commissions do not include a non-accountable expense allowance to 1.0% of the gross proceeds raised in this offering
    (excluding proceeds received from exercise of the underwriters&rsquo; over-allotment option).</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">See &ldquo;Underwriting&rdquo; for additional
    information regarding total underwriter compensation.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have granted the representative of the
    underwriters in this offering (the &ldquo;Representative&rdquo;) an option for a period of 45 days after the closing of this offering
    to purchase up to an additional 15% of the total number of shares of Class&nbsp;A common stock to be offered by us pursuant to this
    offering (excluding shares of Class&nbsp;A common stock subject to this option), solely for the purpose of covering over-allotments,
    if any, at the public offering price less the underwriting discounts and commissions. If the Representative exercises the option
    in full, the total underwriting discounts payable will be $[&#9679;], based on an assumed initial public offering price of $[&#9679;]
    per share, which is the midpoint of the estimated initial public offering price range set forth on the cover page of this prospectus,
    and the total gross proceeds to us, before underwriting discounts and expenses, will be $[&#9679;].</P></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
underwriters expect to deliver the shares of our Class&nbsp;A common stock against payment in U.S. dollars in New York, New York on or
about [&#9679;], 202</FONT>5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Neither the U.S. Securities and Exchange Commission
nor any state securities commission nor any other regulatory body has approved or disapproved of these securities or determined if this
prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: center; width: 50%"><IMG SRC="tm254980d1_drsimg01.jpg" ALT=""></TD>
  <TD STYLE="text-align: center; width: 50%"><IMG SRC="tm254980d1_drsimg02.jpg" ALT=""></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The date of this prospectus is [&#9679;], 2025</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Page</B></FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#sp1_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PROSPECTUS
    SUMMARY</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#sp1_001">3</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#sp1_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>THE
    OFFERING</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: top"><A HREF="#sp1_002">7</A></TD>
    </TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#sp1_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>RISK
    FACTORS</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#sp1_003">9</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DISCLOSURE
    REGARDING FORWARD-LOOKING STATEMENTS</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#a_001">21</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#a_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>USE
    OF PROCEEDS</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#a_002">22</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#a_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DIVIDEND
    POLICY</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#a_003">23</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#a_004"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CAPITALIZATION</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#a_004">24</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#a_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DILUTION</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#a_005">25</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#a_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MANAGEMENT&rsquo;S
    DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#a_006">26</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#a_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BUSINESS</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#a_007">33</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#s_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MANAGEMENT</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#s_001">42</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#s_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXECUTIVE
    AND DIRECTOR COMPENSATION</B></FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><A HREF="#s_002">46</A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#s_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PRINCIPAL
    STOCKHOLDERS</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#s_003">48</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#s_004"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>RELATED
    PARTY TRANSACTIONS</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#s_004">50</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#s_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DESCRIPTION
    OF SHARE CAPITAL</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#s_005">51</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#s_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SHARES
    ELIGIBLE FOR FUTURE SALE</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#s_006">53</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#s_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNDERWRITING</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#s_007">54</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#s_008"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>LEGAL
    MATTERS</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#s_008">59</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#s_009"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXPERTS</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#s_009">59</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    </TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#s_010"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHERE
    YOU CAN FIND ADDITIONAL INFORMATION</B></FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><A HREF="#s_010">59</A></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#d6"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>INDEX
    TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><A HREF="#d6"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-1</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You should rely only on the information contained
in this prospectus or in any related free-writing prospectus. We and the underwriters have not authorized anyone to provide any information
or to make any representations other than those contained in this prospectus or in any free writing prospectuses prepared by us or on
our behalf or to which we have referred you. We take no responsibility for and can provide no assurance as to the reliability of, any
other information that others may give you. This prospectus is an offer to sell only the Class&nbsp;A common stock offered hereby, but
only under circumstances and in jurisdictions where it is lawful to do so. We are not making an offer to sell the Class&nbsp;A common
stock in any jurisdiction where the offer or sale is not permitted or where the person making the offer or sale is not qualified to do
so or to any person to whom it is not permitted to make such offer or sale. The information contained in this prospectus is current only
as of the date on the front cover of the prospectus. Our business, financial condition, results of operations, and prospects may have
changed since that date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>For
Investors Outside the United States</B></FONT>: The underwriters are offering to sell, and seeking offers to buy, shares of our Class&nbsp;A
common stock only in jurisdictions where offers and sales are permitted. Neither we nor the underwriters have done anything that would
permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required,
other than in the United States. Persons outside the United States who come into possession of this prospectus must inform themselves
about, and observe any restrictions relating to, the offering of the shares of Class&nbsp;A common stock and the distribution of this
prospectus outside the United States. See &ldquo;Underwriting&rdquo; for additional information on these restrictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ABOUT THIS PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Basis of Presentation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In this prospectus, unless the context otherwise
requires, &ldquo;we,&rdquo; &ldquo;us,&rdquo; &ldquo;our&rdquo; and the &ldquo;Company&rdquo; refer (i) prior to the consummation of the
reorganization transactions on October 25, 2024 described in &ldquo;Business&mdash;Corporate History and Structure,&rdquo; to JAR Transportation
Inc, a California general stock corporation and (ii) after the consummation of the reorganization transactions on October 25, 2024 described
in &ldquo;Business&mdash;Corporate History and Structure,&rdquo; to Elite Express Holding Inc., a Delaware corporation and its subsidiary,
JAR Transportation Inc, and other subsidiaries if any. References to &ldquo;Predecessor&rdquo; are to JAR Transportation Inc prior to
October 26, 2024 and &ldquo;Successor&rdquo; are to Elite Express Holding Inc. and its subsidiary, JAR Transportation Inc, after October
25, 2024. For further information, see &ldquo;Business&mdash;Corporate History and Structure.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unless the context indicates otherwise, all information
in this prospectus assumes no exercise by the Representative of its over-allotment option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Numerical figures included in this prospectus may have been subject
to rounding adjustments. Accordingly, numerical figures shown as totals in various tables may not be arithmetic aggregations of the figures
that precede them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Certain Definitions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Unless otherwise indicated or the context requires otherwise, references
in this prospectus to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="vertical-align: top; width: 24px">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;AI&rdquo; are to
    artificial intelligence;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Class&nbsp;A common
    stock&rdquo; are to our shares of Class&nbsp;A common stock, par value $0.000001 per share;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Class&nbsp;B common
    stock&rdquo; are to our shares of Class&nbsp;B common stock, par value $0.000001 per share;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;common stock&rdquo;
    are to our shares of Class&nbsp;A common stock and Class&nbsp;B common stock combined;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;ETS&rdquo; are to
    Elite Express Holding Inc., a Delaware corporation;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Exchange Act&rdquo;
    are to the Securities Exchange Act of 1934, as amended;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;FedEx&rdquo; are
    to Federal Express Corporation;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify">&ldquo;JAR&rdquo; or &ldquo;operating entity&rdquo; are to JAR Transportation Inc, a California corporation;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;preferred stock&rdquo;
    are to our shares of preferred stock, par value $0.000001 per share, none of which are issued and outstanding;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;SEC&rdquo; are to
    the United States Securities and Exchange Commission;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="vertical-align: top; width: 24px">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Securities Act&rdquo;
    are to the Securities Act of 1933, as amended;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;U.S.&rdquo;, &ldquo;US&rdquo;
    or &ldquo;United States&rdquo; are to United States of America, its territories, its possessions and all areas subject to its jurisdiction;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;U.S. dollars,&rdquo;
    &ldquo;$,&rdquo; and &ldquo;dollars&rdquo; are to the legal currency of the United States; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify">&ldquo;we,&rdquo; &ldquo;us,&rdquo; &ldquo;our,&rdquo; &ldquo;our Company,&rdquo; or the &ldquo;Company&rdquo;
    are to ETS and its subsidiary, JAR, and other subsidiaries, as the case may be.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Market and Industry Data</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain industry data and market data included
in this prospectus were obtained from independent third-party surveys, market research, publicly available information, reports of governmental
agencies and industry publications and surveys. All of the estimates of the Company&rsquo;s management presented herein are based upon
review of independent third-party surveys and industry publications prepared by a number of sources and other publicly available information
by the Company&rsquo;s management. Third-party industry publications and forecasts state that the information contained therein has been
obtained from sources generally believed to be reliable, yet not independently verified. The industry data, market data and estimates
used in this prospectus involve assumptions and limitations, and you are cautioned not to give undue weight to such data and estimates.
Although we have no reason to believe that the information from industry publications and surveys included in this prospectus is unreliable,
we have not verified this information and cannot guarantee its accuracy or completeness. We believe that industry data, market data and
related estimates provide general guidance, but are inherently imprecise. The industry in which the Company&rsquo;s operates is subject
to a high degree of uncertainty and risk due to a variety of factors, including those described in the section titled &ldquo;Risk Factors&rdquo;
and elsewhere in this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Trademarks, Service Marks and Trade Names</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This prospectus contains references to our trademark
and service marks and to those belonging to other entities. Solely for convenience, trademarks, and trade names referred to in this prospectus
may appear without the &reg; or &trade; symbols, but such references are not intended to indicate, in any way, that their respective
owners will not assert, to the fullest extent under applicable law, their rights thereto. We do not intend our use or display of other
companies&rsquo; trade names, trademarks, or service marks to imply a relationship with, or endorsement or sponsorship of us by, any
other companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="sp1_001"></A><B>PROSPECTUS SUMMARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>The following summary is qualified in its
entirety by, and should be read in conjunction with, the more detailed information and financial statements included elsewhere in this
prospectus. In addition to this summary, we urge you to read the entire prospectus carefully, especially the risks of investing in our
Class&nbsp;A common stock, discussed under &ldquo;Risk Factors,&rdquo; before deciding whether to buy our Class&nbsp;A common stock.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Business Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Our Company</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are a holding company incorporated in Delaware.
Through our wholly owned subsidiary, JAR Transportation Inc., a California-based operating entity, we specialize in last-mile delivery
services within California. Our core business focuses on retrieving packages from distribution hubs and ensuring their prompt and secure
delivery to recipients&rsquo; doorsteps. Committed to innovation and efficiency, our mission is to optimize last-mile logistics by providing
efficient, reliable, and innovative delivery solutions.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date of this prospectus, we employ
approximately [33] full-time and [3] part-time staff, including [26] drivers. Our fleet consists of approximately [20] trucks and trailers.
We provide exclusive pickup and delivery services within our designated service area, covering approximately 1,665.28 square miles. We
utilize GroundCloud, a leading logistics software, during our course of business, for route optimization, driver management, and compliance
monitoring. Additionally, we are actively expanding our investment in advanced technologies to enhance our scalability, automate our
operations, and drive our data-driven decision-making. On an average day, we complete between 1,000 to 1,700 stops, facilitating the
pickup and delivery of approximately 1,200 to 2,000 packages. During peak seasons, our daily stops rise to an estimated 2,000, allowing
us to meet heightened demand with efficiency and reliability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended November 30, 2023 (Predecessor),
we reported total revenue of $2,426,026 and incurred a net loss of $208,390. For the period from December 1, 2023 to October 25, 2024
(Predecessor), we reported a total revenue of $2,192,893 and a net loss of $77,735. For the period from October 26, 2024 to November
30, 2024 (Successor), we reported total revenue of $251,049 and a net loss of $300,703. During this period, 100% of our revenue was derived
from our subsidiary&rsquo;s last-mile delivery services to our sole customer, FedEx.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Our Strengths</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe the following competitive advantages are essential for our success and distinguish us from our competitors</FONT>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Service
                                            capacity;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Service
                                            quality;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Operating
                                            independence;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Relative
                                            exclusivity in the service areas;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Predictable
                                            revenue model;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Safety
                                            maintenance; and</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Professional
                                            management.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For further information on our strengths, see &ldquo;Business&mdash;Our
Competitive Strengths.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Growth Strategies</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have the following growth strategies </FONT>to strengthen our competitive position, broaden our market reach, and enhance our operational
efficiency:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Expansion
                                            of delivery routes;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">App
                                            development;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Eco-friendly
                                            transition, technology, and automation; and</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Operational
                                            optimization.</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For further information on our growth strategies, see &ldquo;Business&mdash;Growth
Strategies.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Corporate Information</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ETS
was incorporated under the laws of the State of Delaware as a corporation on April&nbsp;3</FONT>, 2024. For more details on our corporate
history and structure, please refer to &ldquo;Business&mdash;Corporate History and Structure.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
principal executive office is located at 23046 Avenida De la Carlota, Suite&nbsp;600, Laguna Hills, CA, 92653. Our telephone number is
(</FONT>949) 758-0650 and our website address is https://eliteexpressholding.com/. The information contained in, or that can be accessed
through, our website is not incorporated by reference into, and is not part of, this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Summary of Risk Factors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Investing in our Class&nbsp;A common stock involves
significant risks. You should carefully consider all of the information in this prospectus before making an investment in our Class&nbsp;A
common stock. Below please find a summary of the principal risks we face, organized under relevant headings. These risks are discussed
more fully in the section titled &ldquo;Risk Factors.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Risk
relating to our business (for a more detailed discussion, see &ldquo;Risk Factors&mdash;Risk relating to our business</I></FONT><I> and
industry&rdquo; beginning on page&nbsp;9 of this prospectus)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Risks and uncertainties related to our businesses
include, but are not limited to, the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Our
                                            business is heavily dependent on FedEx, making us vulnerable to changes in our relationship
                                            with FedEx (see page&nbsp;9 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Our
                                            business depends on our ability to attract new customers and retain and provide services
                                            to our existing customer. Any decline in customer acquisition or retention would harm our
                                            business (see page&nbsp;9 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Our
                                            business depends on our ability to provide consistently high-quality services (see page&nbsp;9
                                            of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">We
                                            experience significant seasonal fluctuations in our business (see page&nbsp;10 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">If
                                            we fail to recruit or retain capable drivers or other qualified employees, we may be unable
                                            to maintain our service quality (see page&nbsp;10 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: #212529">&middot;</FONT></TD><TD STYLE="text-align: justify">Changing
                                            fuel and energy prices, and interruptions in supplies of these commodities could materially
                                            adversely affect us (see page&nbsp;10 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                            business involves safety risks and the materialization of such risks will affect our business
                                            operations and financial results (see page&nbsp;10 of this prospectus);</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Our
                                            industry is rapidly evolving. We expect to continue to face significant competition, which
                                            could materially adversely affect us (see page&nbsp;10 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Systems
                                            failures and technological interruptions could adversely affect our business (see page&nbsp;11
                                            of this prospectus); and</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">We
                                            have a limited operating history in an evolving industry, which makes it difficult to evaluate
                                            our future prospects and may increase the risk that we will not be successful (see page&nbsp;11
                                            of this prospectus).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Legal, Regulatory, and Compliance Risks (for
a more detailed discussion, see &ldquo;Risk Factors&mdash;Legal, Regulatory, and Compliance Risks&rdquo; beginning on page&nbsp;14 of
this prospectus)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Risks and uncertainties related to legal, regulatory,
and compliance include, but are not limited to, the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">We
                                            are exposed to potential regulatory and compliance risks (see page&nbsp;14 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Our
                                            business is subject to complex and evolving laws and regulations regarding data protection
                                            (see page&nbsp;14 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">We
                                            may be affected by global climate change or by legal, regulatory, or market responses to
                                            such change (see page&nbsp;14 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">We
                                            maintain significant physical operations. Increases in operational security requirements
                                            impose substantial costs on us and we could be the target of an attack or have a security
                                            breach, which could materially adversely affect us (see page&nbsp;15 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Non-compliance
                                            with laws and regulations on the part of any third parties with which we conduct business
                                            could expose us to legal expenses, compensation to third parties, penalties, and disruptions
                                            of our business, which may adversely affect our results of operations and financial performance
                                            (see page&nbsp;15 of this prospectus); and</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">We
                                            may from time to time be subject to claims, controversies, lawsuits, and legal proceedings,
                                            which could adversely affect our business, prospects, results of operations, and financial
                                            condition (see page&nbsp;15 of this prospectus).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Trading Risks (for a more detailed discussion,
see &ldquo;Risk Factors&mdash;Trading Risks&rdquo; beginning on page&nbsp;16 of this prospectus)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">There
                                            has been no public market for our Class&nbsp;A common stock prior to this offering, and you
                                            may not be able to resell our Class&nbsp;A common stock at or above the price you pay for
                                            them, or at all (see page&nbsp;16 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                            market price of our Class&nbsp;A common stock may be volatile or may decline regardless of
                                            our operating performance, and you may not be able to resell your shares of Class&nbsp;A
                                            common stock at or above the initial public offering price (see page&nbsp;16 of this prospectus);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                            price of our Class&nbsp;A common stock could be subject to rapid and substantial volatility
                                            (see page&nbsp;16 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">You
                                            will experience immediate and substantial dilution in the net tangible book value of Class&nbsp;A
                                            common stock purchased in this offering (see page&nbsp;17 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Our
                                            certificate of incorporation and bylaws, as well as Delaware law, contain provisions that
                                            could discourage acquisition bids or merger proposals, which may adversely affect the market
                                            price of our Class&nbsp;A common stock and could deprive our investors of the opportunity
                                            to receive a premium for their shares (see page&nbsp;17 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">If
                                            we fail to implement and maintain an effective system of internal controls, we may fail to
                                            meet our reporting obligations or be unable to accurately report our results of operations
                                            or prevent fraud, and investor confidence and the market price of our Class&nbsp;A common
                                            stock may be materially and adversely affected (see page&nbsp;18 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">We
                                            will incur substantial increased costs as a result of being a public company (see page&nbsp;18
                                            of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">W<FONT STYLE="font-family: Times New Roman, Times, Serif">e
                                            may not be able to maintain the listing of our Class&nbsp;A common stock on </FONT>The Nasdaq
                                            Capital Market (see page&nbsp;19 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Substantial
                                            future sales of our Class&nbsp;A common stock or the anticipation of future sales of our
                                            Class&nbsp;A common stock in the public market could cause the price of our Class&nbsp;A
                                            common stock to decline (see page&nbsp;19 of this prospectus);</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">If
                                            securities or industry analysts do not publish research or reports about our business, or
                                            if they publish a negative report regarding our Class&nbsp;A common stock, the price of our
                                            Class&nbsp;A common stock and trading volume could decline (see page&nbsp;19 of this prospectus);
                                            and</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Our
                                            management has broad discretion to determine how to use the funds raised in the offering
                                            and may use them in ways that may not enhance our results of operations or the price of our
                                            Class&nbsp;A common stock (see page&nbsp;19 of this prospectus).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Implications of Being an &ldquo;Emerging Growth
Company&rdquo; and a Smaller Reporting Company</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a company with less than $1.235 billion in
revenue during our last fiscal year, we qualify as an &ldquo;emerging growth company&rdquo; as defined in the JOBS Act. An &ldquo;emerging
growth company&rdquo; may take advantage of reduced reporting requirements that are otherwise applicable to larger public companies.
In particular, as an emerging growth company, we:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">may present only two years
    of audited financial statements and only two years of related Management&rsquo;s Discussion and Analysis of Financial Condition and
    Results of Operations;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">are not required to provide
    a detailed narrative disclosure discussing our compensation principles, objectives, and elements and analyzing how those elements
    fit with our principles and objectives, which is commonly referred to as &ldquo;compensation discussion and analysis&rdquo;;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">are not required to obtain
    an attestation and report from our auditors on our management&rsquo;s assessment of our internal control over financial reporting
    pursuant to the Sarbanes-Oxley Act of 2002;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">are not required to obtain
    a non-binding advisory vote from our stockholders on executive compensation or golden parachute arrangements (commonly referred to
    as the &ldquo;say-on-pay,&rdquo; &ldquo;say-on frequency,&rdquo; and &ldquo;say-on-golden-parachute&rdquo; votes);</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">are exempt from certain
    executive compensation disclosure provisions requiring a pay-for-performance graph and CEO pay ratio disclosure;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">are eligible to claim longer
    phase-in periods for the adoption of new or revised financial accounting standards under &sect;107 of the JOBS Act; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We intend to take advantage of all of these reduced
reporting requirements and exemptions, including the longer phase-in periods for the adoption of new or revised financial accounting
standards under &sect;107 of the JOBS Act. Our election to use the phase-in periods may make it difficult to compare our financial statements
to those of non-emerging growth companies and other emerging growth companies that have opted out of the phase-in periods under &sect;107
of the JOBS Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the JOBS Act, we may take advantage of
the above-described reduced reporting requirements and exemptions until we no longer meet the definition of an emerging growth company.
The JOBS Act provides that we would cease to be an &ldquo;emerging growth company&rdquo; at the end of the fiscal year in which the fifth
anniversary of our initial sale of common equity pursuant to a registration statement declared effective under the Securities Act, occurred,
if we have more than $1.235 billion in annual revenue, have more than $700 million in market value of our common stock held by non-affiliates,
or issue more than $1 billion in principal amount of non-convertible debt over a three-year period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">We are also a &ldquo;smaller reporting company&rdquo; as defined under
the&nbsp;Exchange Act. We may continue to be a smaller reporting company even after we are no longer an emerging growth company. We may
take advantage of certain of the scaled disclosures available to smaller reporting companies until the fiscal year following the determination
that our voting and non-voting Common Stock held by non-affiliates is $250 million or more measured on the last business day of our second
fiscal quarter, or our annual revenues are less than $100 million during the most recently completed fiscal year and our voting and non-voting
Common Stock held by non-affiliates is $700 million or more measured on the last business day of our second fiscal quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Implications of Being a Controlled Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Additionally, we are, and following the completion
of this offering, will continue to be, a &ldquo;controlled company&rdquo; as defined under Nasdaq Rule&nbsp;5615(c). Huan Liu, our Chairman
of the Board of Directors, will be able to exercise approximately [&#9679;]% ([&#9679;]% if the over-allotment option is exercised in
full) of the aggregate voting power of our issued and outstanding shares of Class&nbsp;A common stock and Class&nbsp;B common stock and
will be able to determine all matters requiring approval by our stockholders, immediately after the consummation of this offering, assuming
the sales of [&#9679;] shares of Class&nbsp;A common stock we are offering. For further information, see &ldquo;Principal Stockholders.&rdquo;
We do not intend to avail ourselves of the corporate governance exemptions afforded to a &ldquo;controlled company&rdquo; under the Nasdaq
Rules. However, our decision not to rely on the &ldquo;controlled company&rdquo; exemption could change, as a result of which, you will
not have the same protections afforded to stockholders of companies that are subject to all of the corporate governance requirements
of Nasdaq. See &ldquo;Risk Factors&mdash;We will be a &lsquo;controlled company&rsquo; within the meaning of the Nasdaq listing rules,
and may follow certain exemptions from certain corporate governance requirements that could adversely affect our public stockholders&rdquo;
and &ldquo;Management&mdash;Controlled Company.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="sp1_002"></A><B>THE OFFERING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shares of Class&nbsp;A common
    stock offered </B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 66%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;] shares,
    based on an assumed initial public offering price of $[&#9679;] per share, which is the midpoint of the estimated initial public
    offering price range set forth on the cover page of this prospectus.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Price per share</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We currently estimate that
    the initial public offering price will be in the range of $[&#9679;] to $[&#9679;] per share.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shares of common stock outstanding prior to completion
    of this offering</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,916,672
    </FONT>shares, including 8,750,005 shares of Class&nbsp;A common stock and 4,166,667 shares of Class&nbsp;B common stock.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Holders of Class&nbsp;A common stock and
    Class&nbsp;B common stock have the same rights except for voting and conversion rights. In respect of matters requiring a stockholder
    vote, each holder of Class&nbsp;A common stock will be entitled to one vote per share of Class&nbsp;A common stock and each holder
    of Class&nbsp;B common stock will be entitled to fifteen votes per share of Class&nbsp;B common stock. Shares of Class&nbsp;B common
    stock are convertible into shares of Class&nbsp;A common stock at any time after issuance at the option of the holder on a one-to-one
    basis. Shares of Class&nbsp;A common stock are not convertible into shares of any other class.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shares of common stock outstanding
    immediately after this offering</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 66%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;]
    shares of common stock, including (i)&nbsp;[&#9679;] shares of Class&nbsp;A common stock and (ii)&nbsp;4,166,667 shares of Class&nbsp;B
    common stock assuming no exercise of the Representative&rsquo;s over-allotment option</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">[&#9679;] shares of common stock, including (i)&nbsp;[&#9679;] shares
of Class&nbsp;A common stock and (ii)&nbsp;4,166,667 shares of Class&nbsp;B common stock assuming full exercise of the Representative&rsquo;s
over-allotment option</P>

</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Listing</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We intend to apply to have
    our Class&nbsp;A common stock listed on The Nasdaq Capital Market. At this time, Nasdaq has not yet approved our application to list
    our Class&nbsp;A common stock. The closing of this offering is conditioned upon Nasdaq&rsquo;s final approval of our listing application,
    and there is no guarantee or assurance that our Class&nbsp;A common stock will be approved for listing on The Nasdaq Capital Market.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed ticker symbol</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;[&#9679;]&rdquo;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Transfer Agent</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;]</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Over-allotment Option</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have granted to the
    Representative an option, exercisable within 45 days from the closing of this offering, to purchase up to an aggregate of ________
    additional shares of our Class&nbsp;A common stock (15% of the total number of shares offered by us in the offering).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Use of proceeds</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
    expect to receive net proceeds, after deducting underwriting discounts and commissions and estimated expenses payable by us, of approximately
    $</FONT>[&#9679;]&nbsp;(or approximately $[&#9679;]&nbsp;if the Representative exercises its over-allotment, in full), based on an
    assumed initial public offering price of $[&#9679;]&nbsp;per share, the midpoint of the price range set forth on the cover of this
    prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
intend to use approximately 60% of the net proceeds raised from this offering for equity acquisitions, asset acquisitions, and other
investments in businesses, approximately </FONT>30% for upgrading our fleet, which includes transitioning to electric vehicles and
integrating advanced technology, approximately 5% for working capital and general corporate purposes, and approximately 5% for
maintaining and upgrading a mobile application to connect drivers with businesses that have route business demands. See &ldquo;Use
of Proceeds&rdquo; on page&nbsp;22 for more information<I>.</I></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Lock-up agreements</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have agreed not to, for a period of six months from the closing of this offering, (i) offer, pledge, sell, or otherwise transfer or dispose
of, directly or indirectly, any number of shares issued by us or any securities convertible into or exercisable or exchangeable for shares
issued by us, and (ii) file </FONT>or caused to be filed any registration statement with the SEC relating to the offering of any shares
issued by us or any securities convertible into or exercisable or exchangeable for shares issued by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">All of our directors and officers and our principal stockholders (5%
or more stockholders) have agreed with the underwriters, subject to certain exceptions, not to offer, sell, pledge, or otherwise transfer
or dispose of, directly or indirectly, any number of shares issued by us or any securities convertible into or exercisable or exchangeable
for shares issued by us for a period of six months after the date of this prospectus. See &ldquo;Underwriting&mdash;Lock-up Agreements&rdquo;
for more information.</P>

</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Risk factors</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 66%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Class&nbsp;A
    common stock offered hereby involve a high degree of risk. You should read &ldquo;Risk Factors,&rdquo; beginning on page&nbsp;9 for
    a discussion of factors to consider before deciding to invest in our Class&nbsp;A common stock<I>.</I></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="sp1_003"></A>RISK FACTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>An investment in our Class&nbsp;A common stock
involves a high degree of risk. Before deciding whether to invest in our Class&nbsp;A common stock, you should consider carefully the
risks described below, together with all of the other information set forth in this prospectus, including the section titled &ldquo;Management&rsquo;s
Discussion and Analysis of Financial Condition and Results of Operations&rdquo; and our consolidated financial statements and related
notes included elsewhere in this prospectus. If any of these risks actually occurs, our business, financial condition, results of operations,
or cash flow could be materially and adversely affected, which could cause the trading price of our Class&nbsp;A common stock to decline,
resulting in a loss of all or part of your investment. The risks described below and discussed in other parts of this prospectus are
not the only ones that we face. Additional risks not presently known to us or that we currently deem immaterial may also affect our business.
You should only consider investing in our Class&nbsp;A common stock if you can bear the risk of loss of your entire investment.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231f20"><B>Risks Relating to Our Business and Industry</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our business is heavily dependent on FedEx,
making us vulnerable to changes in our relationship with FedEx.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our business model is heavily dependent on FedEx.
For the reporting periods from December 1, 2022, to November 30, 2024, and as of the date of this prospectus, FedEx has been our sole
customer to which we provided pickup and delivery service. This heavy dependence on FedEx makes our business vulnerable if our relationship
with such customer deteriorates or if such customer significantly reduces the demand for our service. As of the date of this prospectus,
we are exploring connections with potential customers who require last-mile delivery service but we have not yet entered into any definitive
agreements for securing new customers. The impact of a significant customer on our revenue and profitability can vary based on a number
of factors, including: contractual volume amounts; pricing terms; e-commerce or other industry trends, including those related to the
holiday season; business combinations and the overall growth of a customer&rsquo;s underlying business; as well as any disruptions to
a customer&rsquo;s business. A significant customer could choose to divert all or a portion of its business with us to one of our competitors,
demand pricing concessions, request enhanced services that increase our costs, or develop their own logistics capabilities that result
in a loss of relationship with us. In addition, certain contractual arrangements with a significant customer can increase the vulnerability
of our business. For example, we usually enter into contracts with FedEx for a duration of approximately one year and such contracts
generally provide that (i)&nbsp;there is no obligation or expectation for entry into a subsequent contract at the expiration of a contract;
and (ii)&nbsp;the contract includes certain termination rights of either party upon the occurrence of certain events or without cause
by mutual agreement at any time. If all or a portion of our business relationship with a significant customer were to terminate or significantly
change, this could materially adversely affect us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our business depends on our ability to
attract new customers and retain and provide services to our existing customer. Any decline in customer acquisition or retention would
harm our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our business depends upon our ability to attract
new customers, and maintain and expand our relationship with our existing customer. To retain the business of our only customer FedEx,
we have committed to consistently meeting performance metrics and optimizing our operations. See &ldquo;Business&mdash;Our Customer&rdquo;
for further details. We need to add new customers to grow our business. If our only customer terminates or does not renew its business
relationship with us, or renew its service contract on less favorable terms or for fewer services, and we do not acquire replacement
customers or otherwise grow our customer base, our business and results of operations will be materially and adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our business depends on our ability to
provide consistently high-quality services.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
ability to attract and retain customers is dependent in part on our ability to provide high-quality services. As of the date of this
prospectus, w</FONT>e adhere to rigorous industrial and contractual standards to ensure our service quality. For example, our employees
providing delivery service must satisfy certain appearance, safety, qualification, and other requirements. Our vehicles for the provision
of delivery service must satisfy specific size, type, color, and other requirements. See &ldquo;Business&mdash;Our Competitive Strengths.&rdquo;
As we continue to grow our business and improve our offerings, we will face challenges related to providing high-quality services at
scale, such as heightened risks of theft, loss, damage, destruction, or delay in the handling, transporting, and storing of packages,
rude conduct and speeding violations of our drivers, and severe traffic accidents. Any failure to maintain high-quality services, or
a market perception that we do not maintain high-quality services, could harm our reputation and adversely affect our ability to scale
our business, our financial condition, and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We experience significant seasonal fluctuations
in our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
business is highly dependent on consumer spending habits. We are susceptible to changes in consumer activity over the course of the calendar
year. For example, consumer activity is impacted by sales during holiday seasons. Sales during holiday seasons generally lead to increased
volume of online purchases and increased order volume in our services. </FONT>Our estimated daily operations are 1,000 to 1,700 stops,
with around 1,200 to 2,000 packages to be picked up and delivered per day on average. However, during peak seasons, we estimate to make
approximately 2,000 stops on a daily basis. See &ldquo;Business&mdash;Our Services.&rdquo; We seek to address seasonality by making advance
forecasts and allocating our resources accordingly. Our resource allocation measures may include temporary hiring of additional drivers
and flexible routing strategies for delivery. Seasonality has caused and will likely continue to cause fluctuations in our financial
results on a quarterly basis. In addition, other seasonal trends may develop and the existing seasonal trends that we experience may
become more pronounced and contribute to greater fluctuations in our results of operations as we continue to scale and our growth slows.
As such, we may not accurately forecast our results of operations and we may not be able to adjust or plan quickly enough if our revenue
is less than expected, causing our results of operations to fail to meet our expectations or the expectations of investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If we fail to recruit or retain capable
drivers or other qualified employees, we may be unable to maintain our service quality.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
depend on the skills and continued service of capable drivers and other qualified employees for the provision of pickup and delivery
service. We regularly hire part-time and seasonal workers. </FONT>Labor costs are a significant component of our cost structure as of
the date of this prospectus. See our consolidated financial statements and related notes included elsewhere in this prospectus for further
details. We must be able to attract, develop and retain skillful and qualified workforce. If we are unable to hire, properly train or
retain qualified employees, we could experience decreased service quality, higher labor costs, reduced revenues, regulatory noncompliance,
customer losses and diminution of our company culture. Our ability to control labor costs has in the past been, and is expected to continue
to be, subject to numerous factors, including labor-related contractual obligations, turnover, training costs, regulatory changes, market
pressures, inflation, unemployment levels and healthcare and other benefit costs. While we invest in regular training programs to improve
our workforce and offer benefit programs, it may not fully eliminate the risk of employee turnover. Our inability to retain experienced
and motivated employees may materially adversely affect us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>Changing fuel
and energy prices, and interruptions in supplies of these commodities could materially adversely affect us.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fuel
and energy costs have a significant impact on our operations</FONT> and account for a significant percentage of our cost structure as
of the date of this prospectus. See our consolidated financial statements and related notes included elsewhere in this prospectus for
further details. We require significant quantities of fuel for our delivery vehicles and are exposed to the risks associated with variations
in the market price for petroleum products, including gasoline. We seek to mitigate our exposure to changing fuel prices through exploring
the adoption of electric vehicles to reduce our dependency on fuel. There can be no assurance that this strategy will be effective. If
we are unable to maintain or increase our fuel surcharges, higher fuel costs could materially adversely impact our operating results.
Even if we are able to offset changes in fuel costs with surcharges, high fuel surcharges may result in an overall reduction in service
volume, revenue and profitability. Moreover, we could experience a disruption in energy supplies as a result of weather-related events,
natural disasters, political disruptions or wars involving oil-producing countries, economic sanctions imposed against oil-producing
countries or specific industry participants, changes in governmental policy concerning fuel production, transportation, taxes, or marketing,
changes in refining capacity, environmental concerns, cyberattacks, public and investor sentiment, or other factors beyond our control,
which could have a material adverse effect on us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Our</I></B></FONT><B><I>
business involves safety risks and the materialization of such risks will affect our business operations and financial results.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Our</FONT> business
centers around transportation and involves inherent safety risks, which may not be eliminated through implementing the current risk management
policies and control measures, such as safety inspections on our vehicles and safety awareness training for our drivers. The provision
of delivery service may present risks and dangers, such as mal-manipulation of the vehicles, vehicle or equipment failure and other issues
arising from driving. The materialization of any of such risks may result in personal injury, business disruption or negative impact
on our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our industry is rapidly evolving. We expect
to continue to face significant competition, which could materially adversely affect us.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
industry continues to rapidly evolve, including demands for faster deliveries, increased visibility into shipments, and development of
other services. We expect to continue to face significant competition. </FONT>As of the date of this prospectus, we mainly operate and
compete in the State of California. We face competition from companies of various operational scales, which include Amazon Logistics,
Aramex, DHL, DoorDash, DPD, Grubhub, Postmates, UPS, USPS, and certain regional service providers. New technologies may also create additional
sources of competition. Competitors have cost, operational and organizational structures that differ from ours and may offer services
or pricing terms that we are not willing or able to offer. Competitors may improve their financial capacity and strengthen their competitive
positions as a result of transportation market growth. Business combinations could also result in competitors providing a wider variety
of services and products at competitive prices, which could also materially adversely affect us. If we do not appropriately respond to
competitive pressures, including replacing any lost volume or maintaining our profitability, we could be materially adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Systems failures and technological interruptions
could adversely affect our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
implement information technology systems to facilitate the provision of our services and to process, transmit, and store information
in relation to our operations. For example, we employ software, which</FONT> provides GPS and route navigation functionality and is developed
by third parties and licensed to us, to help optimize delivery routes, particularly during peak seasons. These information technology
systems may be vulnerable to interruption due to a variety of events beyond control, including but not limited to, natural disasters,
telecommunications failures, computer viruses, hacking and other security issues. Any material interruptions or failures in these information
technology systems could cause disruptions in business operations and may require a significant investment to update, remediate or replace
with alternate systems. The costs and potential problems associated with supporting, maintaining, remediating and upgrading the existing
information technology systems, or with implementing new systems, may severely disrupt our business operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>We may use AI in our business, and challenges with properly
managing its use could result in reputational harm, competitive harm, and legal liability, and adversely affect our results of operations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may incorporate AI solutions into our offerings,
services, and features, or in support of internal business operations, and these applications may become important in our operations
over time. Our competitors or other third parties may incorporate AI into their products more quickly or more successfully than us, which
could impair our ability to compete effectively and adversely affect our results of operations. Additionally, if the content, analyses,
or recommendations that AI applications assist in producing are or are alleged to be deficient, inaccurate, inappropriate, or biased,
or if the use of AI results in, or is alleged to have resulted in, the infringement of the intellectual property of third parties, we
may be subject to legal claims or liability and our business, financial condition, and results of operations may be adversely affected.
The use of AI applications may result in data leakage or unauthorized exposure of data, including confidential business information,
the personal data of end users, or other sensitive information. Such leakage or unauthorized exposure of data related to our use of AI
applications could result in legal claims or liability or otherwise adversely affect our reputation and results of operations. AI also
presents emerging ethical issues and if our use of AI becomes controversial, we may experience brand or reputational harm, competitive
harm, or legal liability. The rapid evolution of AI, including potential government regulation of AI, may require significant resources
to develop, test, and maintain our offerings, services, and features to help us implement AI in a manner that complies with applicable
laws and regulations and ethically in order to minimize unintended, harmful impact.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We have a limited operating history in
an evolving industry, which makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We launched operations on May 27, 2020. This
limited operating history and our evolving business make it difficult to evaluate our future prospects and the risks and challenges we
may encounter. These risks and challenges include our ability to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">accurately
                                            forecast our revenue and plan our operating expenses;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">increase
                                            the number of and retain existing customers;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">successfully
                                            compete with current and future competitors;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">successfully
                                            expand our business in existing markets and categories and enter new markets and categories;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">successfully
                                            integrate acquired technologies and businesses into our own;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">anticipate
                                            and respond to macroeconomic changes and changes in the markets in which we operate, including
                                            with respect to inflation and other fluctuations in prices such as gasoline and fuel costs;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">maintain
                                            and enhance the value of our reputation and brand;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">adapt
                                            to rapidly evolving trends in the ways corporate customers and individual consumers interact
                                            with technology;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">avoid
                                            interruptions or disruptions in our service;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">develop
                                            and maintain a scalable, high-performance infrastructure that can efficiently and reliably
                                            handle increased service demand;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">hire,
                                            integrate, motivate, and retain talented technology, customer service, and other personnel;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">effectively
                                            manage growth in our personnel and operations; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">effectively
                                            manage our costs related to our operations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we fail to address the risks and difficulties
that we face, including those associated with the challenges listed above as well as those described elsewhere in this &ldquo;Risk Factors&rdquo;
section, our business, financial condition, and results of operations could be adversely affected. Further, because we have limited historical
financial data and operate in a rapidly evolving market, any predictions about our future results of operations may not be as accurate
as they would be if we had a longer operating history or operated in a more predictable market. If our assumptions regarding these risks
and uncertainties, which we use to plan and operate our business, are incorrect or change, or if we do not address these risks successfully,
our business, financial condition, and results of operations could be adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If we fail to manage our growth or execute
our strategies and future plans effectively, we may not be able to take advantage of market opportunities or meet the demand of our customers.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
expect our business to grow in terms of scale and diversity of operations. In addition, we plan to </FONT>execute certain growth strategies
to strengthen our competitive position, broaden market reach, and enhance operational efficiency. See &ldquo;Business&mdash;Growth Strategies.&rdquo;
Such expansions will increase the complexity of our operations and may cause strain on our managerial, operational, and financial resources.
We must continue to hire, train, and effectively manage new employees. The expansion of our services will also require us to maintain
consistency in the quality of our services so that our market reputation is not damaged by any deviations in quality, whether actual
or perceived.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our future results of operations also depend
largely on our ability to execute our future plans successfully. In particular, our continued growth may subject us to the following
additional challenges and constraints:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 48px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">we face challenges in responding
    to evolving industry standards and government regulation that impact our business and industry in general;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the technological or operational
    challenges may arise from the new services;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the execution of our future
    plans will be subject to the availability of funds to support the relevant capital investment and expenditures; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the successful execution
    of our strategies is subject to factors beyond our control, such as general market conditions, and economic and political developments
    in the United States and globally.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All of these endeavors involve risks and will
require significant management, financial, and human resources. We cannot assure you that we will be able to effectively manage our growth
or to implement our strategies successfully. There is no assurance that the investment to be made by our Company as contemplated under
our future plans will be successful and generate the expected return. If we are not able to manage our growth or execute our strategies
effectively, or at all, our business, results of operations, and prospects may be materially and adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our inability to effectively integrate
any acquired businesses and realize the anticipated benefits of any acquisitions, joint ventures, strategic alliances or dispositions
could materially adversely affect us.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From time to time we may acquire businesses,
form joint ventures and strategic alliances, and dispose of operations. See &ldquo;Business.&rdquo; Whether we realize the anticipated
benefits from these transactions depends, in part, upon successful integration between the businesses involved, the performance of the
underlying operations, capabilities or technologies and the management of the acquired operations. Accordingly, our financial results
could be materially adversely affected by our failure to effectively integrate acquired operations, unanticipated performance or other
issues or transaction-related charges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If we are unable to secure sufficient financing
when needed, our ability to execute our business plan as outlined in this prospectus will be impaired, which may negatively impact our
business and prospects.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sustaining
our ongoing operations and propelling future growth requires a significant investment in capital assets, coupled with sufficient working
capital. In particular, as a growing company, we expect to require additional capital to finance our operations, make strategic investments,
or respond to market conditions. There can be no assurance that we will be able to obtain the necessary financing to support </FONT>our
growth plans on favorable terms or at all. Factors beyond our control, such as unfavorable market conditions, general economic downturns,
or investor sentiment, may make it challenging for us to secure additional funding. In the event we are unable to obtain additional financing,
we may have to significantly limit, or even terminate, our primary operations, or delay, reduce, or eliminate certain of our planned
operations, resulting in a complete loss of investment for our stockholders. Our inability to obtain financing on acceptable terms when
needed may have a material adverse effect on our business, results of operations, financial condition, and prospects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our business could be disrupted by catastrophic
events.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Occurrence
of any catastrophic event, including pandemics such as COVID-19, earthquake, fire, flood, tsunami</FONT>, climate change, or other weather
event, power loss, telecommunications failure, software or hardware malfunctions, cyberattacks, war or terrorist attacks, could result
in lengthy interruptions in our services. In addition, acts of terrorism could cause disruptions to the internet, the electric grid or
the economy as a whole. If the transportation routes or supply chains were to be negatively impacted as a result of a natural disaster
or other catastrophic event, our ability to deliver our services to our customers would be impaired. If we are unable to develop adequate
plans to ensure that our business functions continue to operate during and after a disaster and to execute successfully on those plans
in the event of a disaster or emergency, our business could be harmed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our business and results of operations
may be harmed by the misconduct of authorized employees that have access to important assets of our Company such as bank accounts and
confidential information.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the course of our business operations,
some of our employees have access to certain valuable assets of our Company, such as bank accounts and confidential information. In the
event of misconduct by such authorized employees, our Company could suffer significant losses. Employee misconduct may include misappropriating
bank accounts, falsifying bank records, improper use or disclosure of confidential information to the public or our competitors, and
failure to comply with our internal policies or with federal or state laws or regulations regarding the use and safeguarding of classified
or other protected information, and any other applicable laws or regulations. Although we have implemented policies, procedures, and
controls to regulate employee conduct, these precautions may not prevent all intentional or negligent misconduct, and as a result, we
could face unknown risks or losses. Furthermore, such unethical, unprofessional, or even criminal behavior by employees could damage
our reputation, result in fines, penalties, restitution, or other damages, and lead to the loss of current and future customers, all
of which would adversely affect our business, financial condition, and results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We may be the subject of detrimental conduct
by third parties, which could have a negative impact on our reputation.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may be the target of anti-competitive, harassing,
or other detrimental conduct by third parties including our competitors. Such conduct may include complaints, anonymous or otherwise,
to regulatory agencies regarding our operations, accounting, business relationships, business prospects, and business ethics. Additionally,
anyone may post false allegations online against us on an anonymous basis. We may be subject to government or regulatory investigation
as a result of such third-party conduct and may be required to expend significant time and incur substantial costs to address such third-party
conduct, and there can be no assurance that each of the allegations will be refuted conclusively within a reasonable period of time,
or at all. Our business may also be materially negatively affected as a result of such public dissemination of anonymous allegations
or malicious statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If we fail to attract, recruit, or retain
our key personnel, including our executive officers, senior management, and key employees, our ongoing operations and growth could be
affected.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
success depends, to a large extent, on the efforts of our key personnel, including our executive officers, senior management, and other
key employees who have valuable experience, knowledge, and connections in </FONT>our industry. See &ldquo;Management.&rdquo; There is
no assurance that these key personnel will not voluntarily terminate their employment with us. We plan to purchase the directors&rsquo;
and officers&rsquo; liability insurance upon the completion of our initial public offering. The loss of any of our key personnel could
be detrimental to our ongoing operations. Our success will also depend on our ability to attract and retain qualified personnel to manage
our existing operations as well as our future growth. We may not be able to successfully attract, recruit, or retain key personnel, and
this could adversely impact our financial condition, operating results, and business prospects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We may not maintain adequate insurance,
which could expose us to significant costs and business disruption.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We maintain certain insurance policies to safeguard
against risks and unexpected events. See &ldquo;Business&mdash;Insurance.&rdquo; However, there can be no assurance that such insurance
coverage will always be available or will always be sufficient to cover any damages resulting from any kind of claims. In addition, there
are certain types of risks that may not be covered by our insurance policies, such as war, force majeure events, or certain business
interruptions. Claims that are not covered by the policies or the failure to renew the insurance policies may materially adversely affect
our business, financial condition, and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white"><B>Legal,
regulatory, and compliance risks</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We are exposed to potential regulatory
and compliance risks.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
operations are subject to various regulatory and safety requirements. </FONT>For example, <FONT STYLE="background-color: white">we are
subject to complex and stringent transportation, environmental, security, labor, employment, safety, privacy, disclosure and data protection
and other governmental laws, regulations and policies, at the federal, state and local levels.</FONT> Non-compliance or changes in these
regulations, including those affecting transportation, labor practices, or environmental standards, could result in legal liabilities,
fines, or disruptions to our services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>Our business is
subject to complex and evolving laws and regulations regarding data protection.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">There has recently been
heightened regulatory and enforcement focus relating to the collection, use, retention, transfer, and processing of personal data in
the U.S. (at both the state and federal level), including the California Privacy Rights Act, and other similar laws that have been or
will be enacted by other jurisdictions. In addition, in the U.S., there has been increased legislative and regulatory activity related
to AI and the risks and challenges AI poses. An actual or alleged failure to comply with applicable U.S. data protection laws, regulations,
or other data protection standards may expose us to litigation (including, in some instances, class action litigation), fines, sanctions,
or other penalties, which could harm our reputation and adversely affect our business, results of operations, and financial condition.
This regulatory environment is increasingly challenging, based on discretionary factors, and difficult to predict. Consequently, compliance
with all applicable regulations at the federal, state and local levels may present material obligations and risks to our business, including
significantly expanded compliance burdens, costs, and enforcement risks; require us to make extensive system or operational changes;
or adversely affect the cost or attractiveness of the services we offer. All of these evolving compliance and operational requirements,
as well as the uncertain interpretation and enforcement of laws, impose significant costs and regulatory risks that are likely to increase
over time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>We may be affected
by global climate change or by legal, regulatory, or market responses to such change.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Concern over climate
change, including the effect of global warming, has led to significant U.S. legislative and regulatory efforts to limit greenhouse gas
(&ldquo;GHG&rdquo;) emissions, including our vehicle engine emissions. Increasingly, state and local governments are also considering
environmental-related regulatory and reporting requirements. Compliance with such regulation and the associated potential cost is complicated
by the fact that various regions are following different approaches to the regulation and reporting of climate change and other environmental
matters. Increased regulation and reporting obligations regarding GHG emissions, especially vehicle engine emissions, could impose substantial
taxes, fees, and other costs on us. These include an increase in the cost of the fuel and other energy we may purchase, investments required
to obtain electricity capacity, and capital and impairment costs associated with updating or replacing our vehicles or infrastructure
prematurely. Until the timing, scope, and extent of such possible regulation becomes known, we cannot predict its effect on our cost
structure or our operating results. It is reasonably possible, however, that it could materially increase our operating expenses and
have an adverse direct or indirect effect on our business, if instituted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">We may also incur additional
expenses as a result of U.S. regulators requiring additional disclosures regarding GHG emissions and other environmental matters. Moreover,
even without such regulation, increased awareness and any adverse publicity in the marketplace about the GHGs emitted by companies in
the transportation industries could harm our reputation, reduce customer demand for our services, and increase our liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>We maintain significant
physical operations. Increases in operational security requirements impose substantial costs on us and we could be the target of an attack
or have a security breach, which could materially adversely affect us.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">As a result of concerns
about global terrorism and homeland security, various levels of the U.S. governments have adopted and may adopt additional heightened
security requirements, resulting in significantly increased operating costs. Regulatory and legislative requirements may change periodically
in response to evolving threats. We cannot determine the effect that any new requirements will have on our operations, cost structure
or operating results, and new rules&nbsp;or other future security requirements may significantly increase our operating costs and reduce
operating efficiencies. Regardless of our compliance with security requirements or our own security measures, we could also be the target
of an attack or security breaches could occur, which could materially adversely affect one or more of our operations, or our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Non-compliance with laws and regulations
on the part of any third parties with which we conduct business could expose us to legal expenses, compensation to third parties, penalties,
and disruptions of our business, which may adversely affect our results of operations and financial performance.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Customers&nbsp;or other third parties with which
we conduct business may be subject to regulatory penalties or punishments because of their regulatory compliance failures or infringement
upon other parties&rsquo; legal rights, which may, directly or indirectly, disrupt our business. We cannot be certain whether such third
parties have violated any regulatory requirements or infringed or will infringe any other parties&rsquo; legal rights, which could expose
us to legal expenses or compensation to third parties, or both.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We, therefore, cannot rule&nbsp;out the possibility
of incurring liabilities or suffering losses due to any non-compliance by third parties. There is no assurance that we will be able to
identify irregularities or non-compliance in the business practices of third parties with which we conduct business, or that such irregularities
or non-compliance will be corrected in a prompt and proper manner. Any legal liabilities and regulatory actions affecting third parties
involved in our business may affect our business activities and reputation, and may in turn affect our business, results of operations,
and financial performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Moreover, regulatory penalties or punishments
against our business stakeholders such as third-party service providers, whether or not resulting in any legal or regulatory implications
upon us, may nonetheless cause business interruptions or even suspension of these business stakeholders, which could in turn disrupt
our usual course of business and result in material negative impact on our business operations, results of operation and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We may from time to time be subject to
claims, controversies, lawsuits, and legal proceedings, which could adversely affect our business, prospects, results of operations,
and financial condition.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From time to time, we may be involved in various
claims, controversies, lawsuits, legal proceedings, or regulatory inquiries that arise in the ordinary course of business involving labor
and employment, wage and hour, and other matters. See &ldquo;Business&mdash;Legal Proceedings.&rdquo; We expect that the number and significance
of these potential disputes or claims may increase as our business expands and our company grows larger. Contractual provisions and insurance
coverage may not cover potential claims and may not be adequate to indemnify us for all liabilities we may face. Any claims against us,
whether meritorious or not, could be time consuming, result in costly litigation, require significant amounts of management time, and
result in the diversion of significant operational resources. Litigation is inherently unpredictable, and the results of any claims may
have a material adverse effect on our business, financial condition, results of operations, and prospects. In addition, negative publicity
regarding claims or judgments made against our Company may damage our reputation and may result in a material adverse impact on us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We are subject to various U.S. anti-corruption
laws, and any failure to comply with such laws, and any laws to which we may become subject, whether in existence now or hereafter, could
harm our business, financial condition, and results of operations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are subject to various U.S. anti-corruption
laws, such as the U.S. Foreign Corrupt Practices Act of 1977, as amended (the &ldquo;FCPA&rdquo;), as well as other similar anti-bribery
and anti-kickback laws and regulations. These laws and regulations generally prohibit companies and their employees and intermediaries,
from directly or indirectly authorizing, offering, or providing improper payments or benefits to government officials and other recipients
for improper purposes. The FCPA also requires public companies to make and keep books and records that accurately and fairly reflect
the transactions of the corporation and to devise and maintain an adequate system of internal accounting controls. We anticipate that
our exposure for violating these laws will increase as we continue to expand our presence, and any failure to comply with such laws could
harm our business, financial condition, and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Trading Risks</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>There has been no public market for our
Class&nbsp;A common stock prior to this offering, and you may not be able to resell our Class&nbsp;A common stock at or above the price
you pay for them, or at all.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prior to this offering, there has not been a
public market for our Class&nbsp;A common stock. We will apply for the listing of our Class&nbsp;A common stock on The Nasdaq Capital
Market. An active public market for our Class&nbsp;A common stock, however, may not develop or be sustained after the offering, in which
case the market price and liquidity of our Class&nbsp;A common stock will be materially and adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The market price of our Class&nbsp;A common
stock may be volatile or may decline regardless of our operating performance, and you may not be able to resell your shares of Class&nbsp;A
common stock at or above the initial public offering price.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The initial public offering price for our Class&nbsp;A
common stock will be determined through negotiations between the underwriters and us and may vary from the market price of our Class&nbsp;A
common stock following our initial public offering. If you purchase our Class&nbsp;A common stock in our initial public offering, you
may not be able to resell at or above the initial public offering price. We cannot assure you that the initial public offering price
of our Class&nbsp;A common stock, or the market price following our initial public offering, will equal or exceed prices in privately
negotiated transactions of our Class&nbsp;A common stock that have occurred from time to time prior to our initial public offering. The
market price of our Class&nbsp;A common stock may fluctuate significantly in response to numerous factors, many of which are beyond our
control, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">actual
                                            or anticipated fluctuations in our revenue and other operating results;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">the
                                            financial projections we may provide to the public, any changes in these projections or our
                                            failure to meet these projections;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">actions
                                            of securities analysts who initiate or maintain coverage of us, changes in financial estimates
                                            by any securities analysts who follow our Company, or our failure to meet these estimates
                                            or the expectations of investors;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">announcements
                                            by us or our competitors of significant services or features, technical innovations, acquisitions,
                                            strategic partnerships, joint ventures, or capital commitments;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">price
                                            and volume fluctuations in the overall stock market, including as a result of trends in the
                                            economy as a whole;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">lawsuits
                                            threatened or filed against us; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">other
                                            events or factors, including those resulting from war or incidents of terrorism, or responses
                                            to these events.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, the stock markets have experienced
extreme price and volume fluctuations that have affected and continue to affect the market prices of equity securities of many companies.
Stock prices of many companies have fluctuated in a manner unrelated or disproportionate to the operating performance of those companies.
In the past, stockholders have filed securities class litigation following periods of market volatility. If we were to become involved
in securities litigation, it could subject us to substantial costs, divert resources and the attention of management from our business,
and adversely affect our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The price of our Class&nbsp;A common stock
could be subject to rapid and substantial volatility.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There have been instances of extreme stock price
run-ups followed by rapid price declines and strong stock price volatility with recent initial public offerings, especially among those
with relatively smaller public floats. As a relatively small-capitalization company with a relatively small public float, we may experience
greater stock price volatility, extreme price run-ups, lower trading volume, and less liquidity than large-capitalization companies.
In particular, our Class&nbsp;A common stock may be subject to rapid and substantial price volatility, low volumes of trades, and large
spreads in bid and ask prices. Such volatility, including any stock run-ups, may be unrelated to our actual or expected operating performance
and financial condition or prospects, making it difficult for prospective investors to assess the rapidly changing value of our Class&nbsp;A
common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, if the trading volumes of our Class&nbsp;A common stock are low, persons buying or selling in relatively small quantities may
easily influence the price of our Class&nbsp;A common stock. This low volume of trades could also cause the price of our Class&nbsp;A
common stock to fluctuate greatly, with large percentage changes in price occurring in any trading day session. Holders of our Class&nbsp;A
common stock may also not be able to readily liquidate their investment or may be forced to sell at depressed prices due to low volume
trading. Broad market fluctuations and general economic and political conditions may also adversely affect the market price of our Class&nbsp;A
common stock. As a result of this volatility, investors may experience losses on their investment in our Class&nbsp;A common stock. A
decline in the market price of our </FONT>Class&nbsp;A common stock also could adversely affect our ability to issue additional shares
of Class&nbsp;A common stock or other of our securities and our ability to obtain additional financing in the future. No assurance can
be given that an active market in our Class&nbsp;A common stock will develop or be sustained. If an active market does not develop, holders
of our Class&nbsp;A common stock may be unable to readily sell the shares of Class&nbsp;A common stock they hold or may not be able to
sell at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>You
will experience immediate and substantial dilution in the net tangible book value of </I></B></FONT><B><I>Class&nbsp;A common stock purchased
in this offering.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
initial public offering price of our </FONT>Class&nbsp;A common stock is substantially higher than the (pro forma) net tangible book
value per share of our Class&nbsp;A common stock. Consequently, when you purchase shares of our Class&nbsp;A common stock in the offering,
upon completion of the offering, you will incur immediate dilution of $[&#9679;] per share, assuming an initial public offering price
of $[&#9679;], which is the midpoint of the estimated initial public offering price range set forth on the cover page&nbsp;of this prospectus.
See &ldquo;Dilution.&rdquo; Our authorized capital stock consists of (i)&nbsp;1,000,000,000 shares of common stock, par value $0.000001
per share, of which 12,916,672 shares of common stock are issued and outstanding prior to the completion of this offering, including
8,750,005 shares of Class&nbsp;A common stock and 4,166,667 shares of Class&nbsp;B common stock, and (ii)&nbsp;5,000,000 shares of preferred
stock, par value $0.000001 per share, none of which are issued and outstanding. See &ldquo;Description of Share Capital.&rdquo; Our management
will have broad discretion to issue shares of our common stock, preferred stock, warrants, options, and other securities in a range of
transactions, including capital-raising transactions, mergers, acquisitions and other transactions, without obtaining stockholder approval,
unless stockholder approval is required under our articles of incorporation, bylaws, or the applicable laws and regulations. If a substantial
number of the Company&rsquo;s shares of Class&nbsp;A common stock are issued in such transactions, you may experience further dilution
to your ownership position.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our certificate of incorporation and bylaws,
as well as Delaware law, contain provisions that could discourage acquisition bids or merger proposals, which may adversely affect the
market price of our Class&nbsp;A common stock and could deprive our investors of the opportunity to receive a premium for their shares.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
certificate of incorporation authorizes our </FONT>board of directors to issue preferred stock without stockholder approval in one or
more series, designate the number of shares constituting any series, and fix the rights, preferences, privileges and restrictions thereof,
including dividend rights, voting rights, rights and terms of redemption, redemption price or prices and liquidation preferences of such
series. If our board of directors elects to issue preferred stock, it could be more difficult for a third party to acquire us. In addition,
some provisions of our certificate of incorporation and bylaws could make it more difficult for a third party to acquire control of us,
even if the change of control would be beneficial to our stockholders. These provisions include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">providing
                                            that all vacancies, including newly created directorships, may, except as otherwise required
                                            by law or, if applicable, the rights of holders of a series of preferred stock, only be filled
                                            by the affirmative vote of a majority of directors then in office;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">permitting
                                            special meetings of our stockholders to be called only by our Chief Executive Officer, the
                                            chairman of our board of directors and our board of directors pursuant to a resolution adopted
                                            by the affirmative vote of a majority of the total number of authorized directors whether
                                            or not there exist any vacancies in previously authorized directorships;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">subject
                                            to the rights of the holders of shares of any series of our preferred stock, requiring the
                                            affirmative vote of the holders of at least a majority in voting power of all then outstanding
                                            common stock entitled to vote generally in the election of directors, voting together as
                                            a single class, to remove any of all of the directors from office at any time;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">prohibiting
                                            cumulative voting in the election of directors;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">establishing
                                            advance notice provisions for stockholder proposals and nominations for elections to our
                                            board of directors to be acted upon at meetings of stockholders; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">providing
                                            that our board of directors is expressly authorized to adopt, or to alter or repeal our bylaws.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anti-takeover
provisions in our articles of incorporation and bylaws and under </FONT>Delaware law could prevent or delay an acquisition of us, which
may be beneficial to our stockholders, and may prevent attempts by our stockholders to replace or remove our current management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If we fail to implement and maintain an
effective system of internal controls, we may fail to meet our reporting obligations or be unable to accurately report our results of
operations or prevent fraud, and investor confidence and the market price of our Class&nbsp;A common stock may be materially and adversely
affected.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prior to this offering, we were a private company
with limited accounting personnel and other resources with which to address our internal controls and procedures. Our management has
not completed an assessment of the effectiveness of our internal controls over financial reporting, and our independent registered public
accounting firm has not conducted an audit of our internal control over financial reporting. In the course of auditing our consolidated
financial statements for the years ended November 30, 2024, we identified material weaknesses in our internal control over financial
reporting and other control deficiencies as of November 30, 2024. A &ldquo;material weakness&rdquo; is a deficiency, or a combination
of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement
of the company&rsquo;s annual or interim financial statements will not be prevented or detected on a timely basis. The material weaknesses
identified to date relate to (i) the Company does not have internal audit function in place to monitor the control execution which may
lead to material audit adjustments to the financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Following the identification of the material
weaknesses and control deficiencies, we plan to take remedial measures including (i) setting up an internal audit function as well as
engaging an external consulting firm to assist us with the assessment of Sarbanes-Oxley compliance requirements and improvement of overall
internal control; and (ii) appointing independent directors and strengthening corporate governance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">However, the implementation of these measures
may not fully address the material weaknesses in our internal control over financial reporting. Our failure to correct the material weaknesses
or our failure to discover and address any other material weaknesses or control deficiencies could result in inaccuracies in our financial
statements and could also impair our ability to comply with applicable financial reporting requirements and related regulatory filings
on a timely basis. As a result, our business, financial condition, results of operations, and prospects, as well as the trading price
of our Class A common stock, may be materially and adversely affected. Moreover, ineffective internal control over financial reporting
significantly hinders our ability to prevent fraud.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon completion of this offering, we will become
a public company in the United States subject to the Sarbanes-Oxley Act of 2002. Section 404 of the Sarbanes-Oxley Act of 2002 will require
that we include a report of management on our internal control over financial reporting in our annual report on Form 10-K beginning with
our annual report for the fiscal year ending November 30, 2025. However, our auditors will not be required to formally attest to the
effectiveness of our internal control over financial reporting pursuant to Section 404 until we are no longer a smaller reporting company.
Our management may conclude that our internal control over financial reporting is not effective. Moreover, even if our management concludes
that our internal control over financial reporting is effective, our independent registered public accounting firm, after conducting
its own independent testing, may issue a report that is qualified, if it is not satisfied with our internal controls or the level at
which our controls are documented, designed, operated, or reviewed, or if it interprets the relevant requirements differently from us.
In addition, after we become a public company, our reporting obligations may place a significant strain on our management, operational,
and financial resources and systems for the foreseeable future. We may be unable to complete our evaluation testing and any required
remediation in a timely manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We will incur substantial increased costs
as a result of being a public company.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon consummation of this offering, we will incur
significant legal, accounting, and other expenses as a public company that we did not incur as a private company. These additional costs
could negatively affect our financial results. The Sarbanes-Oxley Act of 2002, as well as rules&nbsp;subsequently implemented by the
SEC and Nasdaq, impose various requirements on the corporate governance practices of public companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Compliance with these laws, rules, and regulations
increases our legal and financial compliance costs and makes some corporate activities more time-consuming and costlier. These laws,
regulations, and standards are subject to varying interpretations and, as a result, their application in practice may evolve over time
as new guidance is provided by regulatory and governing bodies. We intend to invest resources to comply with evolving laws, regulations,
and standards, and this investment may result in increased general and administrative expenses and a diversion of management&rsquo;s
time and attention from revenue-generating activities to compliance activities. In addition, we will incur additional costs associated
with our public company reporting requirements. It may also be more difficult for us to find qualified persons to serve on our board
of directors or as executive officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are an &ldquo;emerging growth company,&rdquo; as defined in the JOBS Act and will remain an emerging growth company until the earlier
of (1)&nbsp;the last day of the fiscal year (a)&nbsp;following the fifth anniversary of the completion of this offering, (b)&nbsp;in
which we have total annual gross revenue of at least $1.235 billion, or (c)&nbsp;in which we are a large accelerated filer, which means
the market value of our </FONT>Class&nbsp;A common stock that is held by non-affiliates exceeds $700 million as of the prior May&nbsp;31,
and (2)&nbsp;the date on which we have issued more than $1.0 billion in non-convertible debt during the prior three-year period. An emerging
growth company may take advantage of specified reduced reporting and other requirements that are otherwise applicable generally to public
companies. These provisions include exemption from the auditor attestation requirement under Section&nbsp;404 in the assessment of the
emerging growth company&rsquo;s internal control over financial reporting and permission to delay adopting new or revised accounting
standards until such time as those standards apply to private companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">After we are no longer an &ldquo;emerging growth
company,&rdquo; or until five years following the completion of our initial public offering, whichever is earlier, we expect to incur
significant additional expenses and devote substantial management effort toward ensuring compliance with the requirements of Section&nbsp;404
and the other rules&nbsp;and regulations of the SEC. For example, as a public company, we have been required to increase the number of
independent directors and adopt policies regarding internal controls and disclosure controls and procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are currently evaluating and monitoring developments
with respect to these rules&nbsp;and regulations, and we cannot predict or estimate with any degree of certainty the amount of additional
costs we may incur or the timing of such costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>We
may not be able to maintain the listing of our Class&nbsp;A common stock on </I></B></FONT><B><I>The Nasdaq Capital Market.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Even if our shares of Class&nbsp;A common stock
are approved for listing on The Nasdaq Capital Market, there can be no assurance that we will be able to maintain the listing standards
of that exchange, which includes requirements that we maintain our stockholders&rsquo; equity, total value of shares of Class&nbsp;A
common stock held by unaffiliated stockholders, and market capitalization above certain specified levels. If we fail to conform to the
Nasdaq listing requirements on an ongoing basis, our Class&nbsp;A common stock might cease to trade on The Nasdaq Capital Market, and
may move to the OTCQB or OTC Pink Markets operated by OTC Markets Group,&nbsp;Inc. These quotation services are generally considered
to be markets that are less efficient and that provide less liquidity in the shares of Class&nbsp;A common stock than The Nasdaq Capital
Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Substantial future sales of our Class&nbsp;A
common stock or the anticipation of future sales of our Class&nbsp;A common stock in the public market could cause the price of our Class&nbsp;A
common stock to decline.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales
of substantial amounts of our Class&nbsp;A common stock in the public market after this offering, or the perception that these sales
could occur, could cause the market price of our Class&nbsp;A common stock to decline. An aggregate of 8,750,005 shares of Class&nbsp;A
common stock</FONT> and 4,166,667 shares of Class&nbsp;B common stock are outstanding before the consummation of this offering. An aggregate
of [<FONT STYLE="font-family: Symbol">&middot;</FONT>] shares of Class&nbsp;A common stock and 4,166,667 shares of Class&nbsp;B common
stock will be outstanding immediately after the consummation of this offering, assuming no exercise of the over-allotment option, and
[<FONT STYLE="font-family: Symbol">&middot;</FONT>] shares of Class&nbsp;A common stock and 4,166,667 shares of Class&nbsp;B common stock
will be outstanding immediately after the consummation of this offering, assuming the full exercise of the over-allotment option, in
each case excluding shares underlying the Representative&rsquo;s Warrants. Sales of these shares of Class&nbsp;A common stock into the
market could cause the market price of our Class&nbsp;A common stock to decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If securities or industry analysts do not
publish research or reports about our business, or if they publish a negative report regarding our Class&nbsp;A common stock, the price
of our Class&nbsp;A common stock and trading volume could decline.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any trading market for our Class&nbsp;A common
stock may depend in part on the research and reports that industry or securities analysts publish about us or our business. We do not
have any control over these analysts. If one or more of the analysts who cover us downgrade us, the price of our Class&nbsp;A common
stock would likely decline. If one or more of these analysts cease coverage of our Company or fail to regularly publish reports on us,
we could lose visibility in the financial markets, which could cause the price of our Class&nbsp;A common stock and the trading volume
to decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our management has broad discretion to
determine how to use the funds raised in the offering and may use them in ways that may not enhance our results of operations or the
price of our Class&nbsp;A common stock.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We anticipate that we will use approximately
60% of the net proceeds raised from this offering for equity acquisitions, asset acquisitions, and other investments in businesses, approximately
30% for upgrading our fleet, which includes transitioning to electric vehicles and integrating advanced technology, approximately 5%
as working capital, and approximately 5% for maintaining and upgrading our interactive app platform. See &ldquo;Use of Proceeds.&rdquo;
Our management will have significant discretion as to the use of the net proceeds to us from this offering and could spend the proceeds
in ways that do not improve our results of operations or enhance the market price of our Class&nbsp;A common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We will be a &ldquo;controlled company&rdquo;
within the meaning of the Nasdaq listing rules, and may follow certain exemptions from certain corporate governance requirements that
could adversely affect our public stockholders.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following
this offering, our largest stockholder, </FONT>Huan Liu, our Chairman of the Board of Directors, will continue to directly and indirectly
own more than a majority of the voting power of our outstanding Class&nbsp;A common stock and Class&nbsp;B common stock and will be able
to determine all matters requiring approval by our stockholders, assuming full exercise of the underwriters&rsquo; over-allotment option.
Under the Nasdaq listing rules, a company of which more than 50% of the voting power is held by an individual, group, or another company
is a &ldquo;controlled company&rdquo; and is permitted to phase in its compliance with the independent committee requirements. We do
not intend to rely on the &ldquo;controlled company&rdquo; exemptions under the Nasdaq listing rules. However, we may elect to rely on
such exemptions in the future, as a result of which, you will not have the same protections afforded to stockholders of companies that
are subject to all of the corporate governance requirements of Nasdaq. See &ldquo;Management&mdash;Controlled Company.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
are an &ldquo;emerging growth company&rdquo; and a &ldquo;smaller reporting company&rdquo; under the JOBS Act, and we cannot be certain
if the reduced disclosure requirements applicable to emerging growth companies and smaller reporting companies will make our </I></B></FONT><B><I>Class&nbsp;A
common stock less attractive to investors.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are an &ldquo;emerging growth company&rdquo;
and a &ldquo;smaller reporting company&rdquo; as defined in the JOBS Act, and we may take advantage of certain exemptions from various
reporting requirements that are applicable to other public companies that are not &ldquo;emerging growth companies&rdquo; and &ldquo;smaller
reporting companies&rdquo; including, but not limited to, not being required to comply with the auditor attestation requirements of Section&nbsp;404
of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements,
and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any
golden parachute payments not previously approved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, Section&nbsp;107 of the JOBS Act
also provides that an &ldquo;emerging growth company&rdquo; can take advantage of the extended transition period provided in Section&nbsp;7(a)(2)(B)&nbsp;of
the Securities Act for complying with new or revised accounting standards. In other words, an &ldquo;emerging growth company&rdquo; can
delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected
to take advantage of the extended transition period for complying with new or revised accounting standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will remain an &ldquo;emerging growth company&rdquo;
until the last day of the fiscal year following the fifth anniversary of the date of the first sale of our Class&nbsp;A common stock
pursuant to an effective registration statement under the Securities Act, although we will lose that status sooner if our revenue exceeds
$1.235 billion, if we issue more than $1 billion in non-convertible debt in a three-year period, or if the market value of our Class&nbsp;A
common stock that is held by non-affiliates exceeds $700 million as of the last day of our most recently completed second fiscal quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may continue to be a smaller reporting company
even after we are no longer an emerging growth company. We may take advantage of certain of the scaled disclosures available to smaller
reporting companies and will be able to take advantage of these scaled disclosures for so long as (i)&nbsp;the market value of our Class&nbsp;A
common stock held by non-affiliates is equal to or less than $250 million as of the last business day of the most recently completed
second fiscal quarter, or (ii)&nbsp;our annual revenue is equal to or less than $100 million during the most recently completed fiscal
year and the market value of our Class&nbsp;A common stock held by non-affiliates is equal to or less than $700 million as of the last
business day of the most recently completed second fiscal quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We cannot predict if investors will find our
Class&nbsp;A common stock less attractive because we may rely on these exemptions. If some investors find our Class&nbsp;A common stock
less attractive as a result, there may be a less active trading market for our Class&nbsp;A common stock and our stock price may be more
volatile. In addition, taking advantage of reduced disclosure obligations may make comparison of our financial statements with other
public companies difficult or impossible. If investors are unable to compare our business with other companies in our industry, we may
not be able to raise additional capital as and when we need it, which may materially and adversely affect our financial condition and
results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our pre-IPO stockholders will be able to
sell their shares of Class&nbsp;A common stock upon completion of this offering subject to restrictions under Rule&nbsp;144 under the
Securities Act and the lock-up agreements.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All of our directors and officers and our stockholders
owning 5% or more of our shares of Class&nbsp;A common stock have agreed with the underwriters not to sell, transfer, or dispose of,
directly or indirectly, any of our Class&nbsp;A common stock or securities convertible into or exercisable or exchangeable for our Class&nbsp;A
common stock for a period of six months from the date of this prospectus. See &ldquo;Underwriting&mdash;Lock-up Agreements.&rdquo; Our
pre-IPO stockholders may be able to sell their shares of Class&nbsp;A common stock under Rule&nbsp;144 after the completion of this offering
and following the expiration of that lock-up period, if applicable. See &ldquo;Shares Eligible for Future Sale<I>.</I>&rdquo; Because
these stockholders have paid a lower price per share of our Class&nbsp;A common stock than participants in this offering, when they are
able to sell their pre-IPO shares under Rule&nbsp;144 and following the expiration of the lock-up period, if applicable, they may be
more willing to accept a lower sales price than the IPO price. This fact could impact the trading price of the Class&nbsp;A common stock
following the completion of the offering, to the detriment of participants in this offering. Under Rule&nbsp;144, before our pre-IPO
stockholders can sell their shares of Class&nbsp;A common stock, in addition to meeting other requirements, they must meet the required
holding period. We do not expect any of the Class&nbsp;A common stock to be sold pursuant to Rule&nbsp;144 during the pendency of this
offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_001"></A>DISCLOSURE REGARDING FORWARD-LOOKING
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This prospectus contains forward-looking statements
that reflect our current expectations and views of future events, all of which are subject to risks and uncertainties. Forward-looking
statements give our current expectations or forecasts of future events. You can identify these statements by the fact that they do not
relate strictly to historical or current facts. You can find many (but not all) of these statements by the use of words such as &ldquo;approximates,&rdquo;
 &ldquo;believes,&rdquo; &ldquo;hopes,&rdquo; &ldquo;expects,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;estimates,&rdquo; &ldquo;projects,&rdquo;
 &ldquo;intends,&rdquo; &ldquo;plans,&rdquo; &ldquo;will,&rdquo; &ldquo;would,&rdquo; &ldquo;should,&rdquo; &ldquo;could,&rdquo; &ldquo;may,&rdquo;
or other similar expressions in this prospectus. These statements are likely to address our growth strategy, financial results, and product
and development programs. You must carefully consider any such statements and should understand that many factors could cause actual
results to differ from our forward-looking statements. These factors may include inaccurate assumptions and a broad variety of other
risks and uncertainties, including some that are known and some that are not. No forward-looking statement can be guaranteed and actual
future results may vary materially. Factors that could cause actual results to differ from those discussed in the forward-looking statements
include, but are not limited to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">assumptions about our future
    financial and operating results, including revenue, income, expenditures, cash balances, and other financial items;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to execute
    our growth strategies, including our ability to meet our goals;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">current and future economic
    and political conditions;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our capital requirements
    and our ability to raise any additional financing which we may require;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to attract
    clients and further enhance our brand recognition; </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to hire and
    retain qualified management personnel and key employees in order to enable us to develop our business;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">trends and competition
    in the last-mile delivery service industry; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">other assumptions described
    in this prospectus underlying or relating to any forward-looking statements.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We describe certain material risks, uncertainties
and assumptions that could affect our business, including our financial condition and results of operations, under &ldquo;Risk Factors.&rdquo;
We base our forward-looking statements on our management&rsquo;s beliefs and assumptions based on information available to our management
at the time the statements are made. We caution you that actual outcomes and results may, and are likely to, differ materially from what
is expressed, implied, or forecast by our forward-looking statements. Accordingly, you should be careful about relying on any forward-looking
statements. Except as required under the federal securities laws, we do not have any intention or obligation to update publicly any forward-looking
statements after the distribution of this prospectus, whether as a result of new information, future events, changes in assumptions,
or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_002"></A>USE OF PROCEEDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Based
upon an assumed initial public offering price of $[</FONT><FONT STYLE="font-family: Symbol">&middot;</FONT>] per share of our Class&nbsp;A
common stock, which is the midpoint of the estimated initial public offering price range set forth on the cover page&nbsp;of this prospectus,
we estimate that we will receive net proceeds from this offering, after deducting the estimated underwriting discounts and commissions,
and the estimated offering expenses payable by us, of approximately $[<FONT STYLE="font-family: Symbol">&middot;</FONT>] if the underwriters
do not exercise their over-allotment option, and $[<FONT STYLE="font-family: Symbol">&middot;</FONT>] if the underwriters exercise their
over-allotment option in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We plan to use (i)&nbsp;approximately 60% of
the net proceeds raised from this offering for equity acquisitions, asset acquisitions, and other investments in businesses that serve
customers who require last-mile delivery services to expand our service area and customer base, as of the date of this prospectus, we
have entered into two stock purchase agreements to acquire the 100% equity interests in two businesses that provide last-mile delivery
services to FedEx, with the purchase consideration to be paid in February&nbsp;2026, see &ldquo;Business&mdash;Material Contracts&rdquo;,
(ii)&nbsp;approximately 30% for upgrading our fleet, which includes transitioning to electric vehicles and integrating advanced technology,
(iii)&nbsp;approximately 5% for working capital and general corporate purposes, and (iv)&nbsp;approximately 5% for developing and maintaining
a mobile application to connect drivers with businesses that have route business demands.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing represents our current intentions
based upon our present plans and business conditions to use and allocate the net proceeds of this offering. Our management, however,
will have significant flexibility and discretion to apply the net proceeds of this offering. If an unforeseen event occurs or business
conditions change, we may use the proceeds of this offering differently than as described in this prospectus. To the extent that the
net proceeds we receive from this offering are not immediately used for the above purposes, we may invest our net proceeds in short-term,
interest-bearing bank deposits or debt instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">A
$1.00 increase (decrease) in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per
share </FONT>(the midpoint of the price range set forth on the cover page of this prospectus) <FONT STYLE="background-color: white">would
increase (decrease) the amount of proceeds to us from this offering available by approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million,
assuming the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting
the estimated underwriting discounts and commissions. An increase (decrease) of 1,000,000 shares from the expected number of shares to
be sold by us in this offering, assuming no change in the assumed initial public offering price per share, the midpoint of the estimated
offering price range shown on the cover page of this prospectus, would increase (decrease) the amount of proceeds to us from this offering
available by approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_003"></A>DIVIDEND POLICY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of the date of this prospectus, </FONT>we have not paid any cash dividends on our common stock, and our board of directors intends to
continue a policy of retaining earnings, if any, for use in our operations, though we may change this policy in the future. We are organized
under the Delaware General Corporation Law, which prohibits the payment of a dividend if the corporation&rsquo;s capital is less than
the capital represented by all outstanding share having a preference upon the distribution of assets. Any determination by our board
of directors to pay dividends in the future to stockholders will be dependent upon our operational results, financial condition, capital
requirements, business projections, general business conditions, statutory and regulatory restrictions, and any other factors deemed
appropriate by our board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_004"></A>CAPITALIZATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth our capitalization as of </FONT>November&nbsp;30, 2024:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on an actual basis; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on  as-adjusted basis to
    reflect the issuance and sale of [</FONT><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">]
    shares of Class&nbsp;A common stock by us in this offering at the assumed initial public offering price of $[</FONT><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">]
    per share, which is the midpoint of the estimated initial public offering price range set forth on the cover page&nbsp;of this prospectus,
    after deducting the estimated discounts and commissions to the underwriters and the estimated offering expenses payable by us.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information set forth in the table below
is illustrative only and will be adjusted based on the actual initial public offering price and other terms of this offering as determined
at pricing. You should read this capitalization table in conjunction with &ldquo;Management&rsquo;s Discussion and Analysis of Financial
Condition and Results of Operations&rdquo; and the consolidated financial statements and the related notes appearing elsewhere in this
prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">November&nbsp;30,
    2024</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Actual</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As-adjusted</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 71%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-indent: -9pt; padding-left: 9pt">Cash</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">170,157</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"></TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -9pt; padding-left: 9pt">Long-term debt, including
    current portion</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -9pt; padding-left: 9pt">Stockholders&rsquo;
    Equity:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    stock, par value $0.000001, 1,000,000,000 shares authorized, 12,916,672 shares issued and outstanding as of November 30, 2024; [</FONT><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">]
    shares issued and outstanding, as adjusted</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class&nbsp;A
    common Stock, par value $0.000001, 9</FONT>00,000,000 shares authorized; 8,750,005 shares issued and outstanding; [<FONT STYLE="font-family: Symbol">&middot;</FONT>]
    shares issued and outstanding, as adjusted</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -9pt; padding-left: 9pt">Class&nbsp;B common
    stock, par value $0.000001, 100,000,000 shares authorized, 4,166,667 shares issued and outstanding</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -9pt; padding-left: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
    paid-in capital<SUP>(</SUP></FONT><SUP>1)</SUP></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,684,988</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -9pt; padding-left: 0.25in">Accumulated deficit</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(309,009</TD><TD>)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -9pt; padding-left: 0.25in">Total
    Stockholders&rsquo; Equity</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,375,992</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; text-indent: -9pt; padding-left: 9pt">Total
    Capitalization</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,375,992</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reflects the sale of the
    Class&nbsp;A common stock in this&nbsp;offering&nbsp;at an assumed initial public&nbsp;offering&nbsp;price of $[</FONT><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">]
    per share, and after deducting the estimated underwriting discounts and estimated&nbsp;offering&nbsp;expenses payable by us. The
    as-adjusted information is illustrative&nbsp;only,&nbsp;and we will adjust this information based on the actual initial public&nbsp;offering&nbsp;price
    and other terms of this&nbsp;offering&nbsp;determined at pricing. Additional paid-in capital reflects the net proceeds we expect
    to receive, after deducting the underwriting discounts and estimated offering expenses payable by us.&nbsp;We estimate that such
    net proceeds&nbsp;will be approximately $[</FONT><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">].</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">A
$1.00 increase (decrease) in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per
share </FONT>(the midpoint of the price range set forth on the cover page of this prospectus) <FONT STYLE="background-color: white">would
increase (decrease) the amount of proceeds to us from this offering available by approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million,
assuming the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting
the estimated underwriting discounts and commissions. An increase (decrease) of 1,000,000 shares from the expected number of shares to
be sold by us in this offering, assuming no change in the assumed initial public offering price per share, the midpoint of the estimated
offering price range shown on the cover page of this prospectus, would increase (decrease) the amount of proceeds to us from this offering
available by approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_005"></A>DILUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you invest in our Class&nbsp;A common stock,
your ownership interest will be diluted to the extent of the difference between the initial public offering price per share of our Class&nbsp;A
common stock in this offering and the net tangible book value per share of Class&nbsp;A common stock upon completion of this offering.
Dilution results from the fact that the initial public offering price per share is substantially in excess of the net tangible book value
per share attributable to the existing stockholders for our presently outstanding shares of Class&nbsp;A common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Holders of Class&nbsp;A common stock and Class&nbsp;B
common stock have the same rights except for voting and conversion rights. In respect of matters requiring a stockholder vote, each holder
of Class&nbsp;A common stock will be entitled to one vote per share of Class&nbsp;A common stock and each holder of Class&nbsp;B common
stock will be entitled to fifteen votes per share of Class&nbsp;B common stock. Shares of Class&nbsp;B common stock are convertible into
shares of Class&nbsp;A common stock at any time after issuance at the option of the holder on a one-to-one basis. Shares of Class&nbsp;A
common stock are not convertible into shares of any other class. Shares of Class&nbsp;B common stock are not being converted as part
of this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our net tangible book value as of November&nbsp;30,
2024 was $<FONT STYLE="font-family: Times New Roman, Times, Serif">[</FONT><FONT STYLE="font-family: Symbol">&middot;</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif">]</FONT>, or $<FONT STYLE="font-family: Times New Roman, Times, Serif">[</FONT><FONT STYLE="font-family: Symbol">&middot;</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif">]</FONT> per share of Class&nbsp;A common stock or Class&nbsp;B common stock. Net tangible book value represents the
amount of our total consolidated tangible assets, less the amount of our total consolidated liabilities. Dilution is determined by subtracting
the net tangible book value per share of Class&nbsp;A common stock (as adjusted for the offering) from the initial public offering price
per share and after deducting the estimated underwriting discounts and commissions and the estimated offering expenses payable by us.
Because the shares of Class&nbsp;A common stock and Class&nbsp;B common stock have the same dividend and other rights, except for voting
and conversion rights, the dilution is presented based on all issued and outstanding shares of common stock, including Class&nbsp;A and
Class&nbsp;B common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0pt 0; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">After giving effect to our sale of
[</FONT><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">] shares of Class&nbsp;A
common stock offered in this offering based on the initial public offering price of $[</FONT><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">]
per share, which is the midpoint of the price range set forth on the cover page of this prospectus, after deduction of the estimated
underwriting discounts and commissions and the estimated offering expenses payable by us, our as-adjusted net tangible book value as
of November&nbsp;30, 2024, would have been $[</FONT><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">],
or $[</FONT><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">] per outstanding
share of Class&nbsp;A common stock. This represents an immediate increase in net tangible book value of $[</FONT><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">]
per share of Class&nbsp;A common stock to the existing stockholders, and an immediate dilution in net tangible book value of $[</FONT><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">]
per share to investors purchasing the Class&nbsp;A common stock in this offering. The as-adjusted information discussed above is illustrative
only and may change based on the actual initial public offering price and other terms of this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table illustrates such dilution:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Post-Offering
                                            </B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -9pt; padding-left: 9pt">Assumed
    initial public offering price per share of Class A common stock</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 27%; font: 10pt Times New Roman, Times, Serif; text-align: right"></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -9pt; padding-left: 9pt">Net tangible book value per share of Class&nbsp;A
    common stock as of November&nbsp;30, 2024</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -9pt; padding-left: 9pt">Increase in net tangible
    book value per share of Class&nbsp;A common stock attributable to payments by new investors in this offering</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -9pt; padding-left: 9pt">As-adjusted net tangible
    book value per share of Class&nbsp;A common stock immediately after this offering</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -9pt; padding-left: 9pt">Amount of dilution in
    net tangible book value per share of Class&nbsp;A common stock to new investors in the offering</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">A
$1.00 increase (decrease) in the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per
share </FONT>(the midpoint of the price range set forth on the cover page of this prospectus) <FONT STYLE="background-color: white">would
increase (decrease) the amount of proceeds to us from this offering available by approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million,
assuming the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting
the estimated underwriting discounts and commissions. An increase (decrease) of 1,000,000 shares from the expected number of shares to
be sold by us in this offering, assuming no change in the assumed initial public offering price per share, the midpoint of the estimated
offering price range shown on the cover page of this prospectus, would increase (decrease) the amount of proceeds to us from this offering
available by approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million.</FONT>If
the Representative exercises its over-allotment&nbsp;option, in full, the as adjusted net tangible book value after this offering would
be $[&#9679;]&nbsp;per share, the increase in pro forma net tangible book value per share would be $[&#9679;]&nbsp;and the dilution per
share to new investors would be $[&#9679;]&nbsp;per share, in each case assuming an initial public offering price of $[&#9679;]&nbsp;per
share, which is the midpoint of the price range set forth on the cover page of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">The following tables summarize, on an as-adjusted
basis described above, as of November&nbsp;30, 2024, the differences between existing stockholders and the new investors with respect
to the number of shares of our Class&nbsp;A common stock purchased from us, the total consideration paid and the average price per share
before deducting the estimated underwriting discounts and commissions and the estimated offering expenses payable by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-bottom: 1pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Shares</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>purchased</B></P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total
    consideration </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Average</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>price</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: center; width: 37%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 11%; text-align: center">&#8239; <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number&#8239;&#8239;</B></FONT></TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 11%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Percent</B></FONT></TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 11%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount</B></FONT></TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 11%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Percent</B></FONT></TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 11%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Per
    share</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Existing stockholders</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New investors</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</FONT></TD>
    <TD STYLE="border-bottom: Black medium double; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; border-bottom: Black medium double; vertical-align: bottom">100</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 2.25pt double">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; border-bottom: black 2.25pt double">100</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The as-adjusted information as discussed above is illustrative only. Our net tangible book value following the completion of this offering
is subject to adjustment based on the actual initial public offering price of our Class A common stock and other terms of this offering
determined at the pricing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
table above assumes no exercise of the underwriters&rsquo; option to purchase additional shares in this offering and no sale of any pre-funded
warrants. If the underwriters exercise their option to purchase additional shares of our Class A common stock in full, the number of
shares of our Class A common stock held by existing stockholders would be reduced to </FONT>[&#9679;]% of the total number of shares
of our Class A common stock outstanding after this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><A NAME="a_006"></A><B>MANAGEMENT&rsquo;S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>The following is a discussion and analysis
of our financial condition and results of operations as of, and for, the periods presented. You should read the following discussion
and analysis of our financial condition and results of operations in conjunction with our consolidated financial statements and the related
notes included in this prospectus. This discussion contains forward-looking statements reflecting our current expectations that involve
risks and uncertainties. See &ldquo;Disclosure Regarding Forward-Looking Statements&rdquo; for a discussion of the uncertainties, risks
and assumptions associated with these statements. Our actual results and the timing of selected events could differ materially from those
anticipated in these forward-looking statements as a result of various factors, including those set forth under &ldquo;Risk Factors&rdquo;
and <FONT STYLE="background-color: white">&ldquo;Disclosure Regarding Forward-Looking Statements&rdquo; </FONT>elsewhere in this prospectus.
Information presented for the period from October 26, 2024 to November 30, 2024 is derived from our Successor&rsquo;s audited consolidated
financial statements included elsewhere in this prospectus. Information presented for the period from December 1, 2023 to October 25,
2024 and for the year ended November 30, 2023 is derived from the Predecessor&rsquo;s audited consolidated financial statements for those
periods included elsewhere in this prospectus. We assume no obligation to update any of these forward-looking statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are a holding company incorporated in Delaware.
Through our wholly owned subsidiary, JAR, a California-based operating entity, we specialize in last-mile delivery services within California.
Our core business focuses on retrieving packages from distribution hubs and ensuring their prompt and secure delivery to recipients&rsquo;
doorsteps. Committed to innovation and efficiency, our mission is to optimize last-mile logistics by providing efficient, reliable, and
innovative delivery solutions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date of this prospectus, we employ
approximately [33] full-time and [3] part-time staff, including [26] drivers. Our fleet consists of approximately
[20] trucks and trailers. We provide exclusive pickup and delivery services within our designated service area, covering approximately
1,665.28 square miles. We utilize GroundCloud, a leading logistics software, during our course of business, for route optimization, driver
management, and compliance monitoring. Additionally, we are actively expanding our investment in advanced technologies to enhance our
scalability, automate our operations, and drive our data-driven decision-making. On an average day, we complete between 1,000 to 1,700
stops, facilitating the pickup and delivery of approximately 1,200 to 2,000 packages. During peak seasons, our daily stops rise to an
estimated 2,000, allowing us to meet heightened demand with efficiency and reliability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Currently, we pick up packages from the distribution
hubs of &#8239;FedEx and deliver them to recipients within designated service areas. While FedEx
has been our only customer under an Independent Service Provider (&ldquo;ISP&rdquo;) agreement, we are actively exploring opportunities
to expand our customer base, diversify our revenue streams and strengthen our market presence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The holding company, prior to the acquisition
of JAR on October 25, 2024 (the &ldquo;Acquisition Date&rdquo;), did not have any active business operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Key Factors Affecting Our Results of Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our results of operations are influenced by several interrelated factors
that reflect the dynamic nature of our business environment. The following are the key factors that impact our performance:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>E-Commerce Growth</B>: We believe the rapid growth
    of e-commerce is a driving force behind the increased demand for last-mile delivery services. As consumer habits continue to shift
    toward online shopping, we anticipate benefitting from rising delivery volumes. Meeting customer expectations for fast and reliable
    service requires ongoing investments in technology and operational capacity.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Labor Costs and Workforce Management</B>: Labor costs are one of
    the largest components of our cost structure, accounting for over 50% of our total costs for the years ended November 30, 2023 and
    November&nbsp;30, 2024. &nbsp;Retaining a skilled and motivated workforce is critical to maintaining service quality. We strive to
    mitigate these challenges by optimizing staffing models, including employing part-time and gig workers during peak demand periods,
    and investing in workforce training and retention programs to improve driver efficiency and reduce turnover.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Fuel Costs and Operational Efficiency</B>: Fuel costs are another
    significant component of our cost of revenue and fluctuations in fuel prices can directly affect our profitability. We managed fuel
    expenses through standard route planning and operational adjustments on or prior to the Acquisition Date. To further enhance efficiency,
    we have implemented route optimization strategies aimed at reducing mileage and improving fuel efficiency. In addition, we are exploring
    the integration of electric vehicles to reduce our reliance on traditional fuel sources and align with our sustainability objectives.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><B>Seasonal Demand and Resource Scaling</B>: Peak seasons, such as the holiday period, account for
    a substantial portion of our annual revenue. Managing this demand requires precise planning and execution, including the temporary
    hiring of additional drivers, flexible routing strategies, and leveraging the FedEx DRO system, a predictive tool to anticipate delivery
    patterns. Successfully navigating these high-demand periods is essential to maintaining our reputation and customer relationships.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Technology Investments</B>: We utilize GroundCloud, a leading logistics
    software, for route optimization, driver management, and compliance monitoring. While continuing to leverage this system, we are
    also expanding our investments in advanced technologies to enhance operational scalability, data-driven decision-making, and automation.
    By continuously evaluating and adopting innovative solutions, we aim to enhance efficiency, improve service reliability, and optimize
    operational costs. These ongoing investments in logistics technology are expected to strengthen our capacity to manage growing delivery
    volumes and position us for long-term success.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Customer Concentration and Diversification</B>:
    As of the date of this prospectus, 100% of our revenue is derived from FedEx. While this partnership provides operational stability,
    it also exposes us to risks associated with customer dependency. To mitigate these risks, we are actively exploring opportunities
    to partner with additional carriers and expand our customer base, which we believe will diversify our revenue streams and reduce
    dependency on a single client.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Capital Investments in Infrastructure</B>: Sustained growth depends
    on strategic investments in vehicles, the transition to electric vehicle, and operational infrastructure, which includes tools and
    software that support our operations. We focused primarily on maintaining existing operations prior to the Acquisition Date. Following
    the Acquisition Date, we are adopting a more proactive investment strategy to expand capacity, enhance efficiency, and integrate
    advanced logistics solutions. These investments support our ability to scale operations, meet customer expectations, and enhance
    operational efficiency. While these expenditures may impact short-term profitability, they are essential for long-term success.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Results of Operations </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table sets forth a summary of our consolidated statements
of operations for the periods presented:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt"><B>For
    the </B></FONT><B><FONT STYLE="font-size: 7pt">Period From<BR>
     October 26, 2024 to<BR>
    November 30, 2024<BR>
     (Successor)</FONT></B></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt"><B>For
    the </B></FONT><B><FONT STYLE="font-size: 7pt">Period From<BR>
     <FONT STYLE="font-family: Times New Roman, Times, Serif">December 1, 2023</FONT> to<BR>
    October 25, 2024<BR>
    (Predecessor)</FONT></B></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt"><B>For
    the </B></FONT><B><FONT STYLE="font-size: 7pt">Year Ended<BR>
     <FONT STYLE="font-family: Times New Roman, Times, Serif">November 30,</FONT>2024<BR>
    (Combined)</FONT></B></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt"><B>For
    the </B></FONT><B><FONT STYLE="font-size: 7pt">Year Ended <BR>
     <FONT STYLE="font-family: Times New Roman, Times, Serif">November 30,</FONT>2023<BR>
    (Predecessor)</FONT></B></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 7pt">Change</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 7pt">Amount</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 7pt">Amount</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 7pt">Amount</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 7pt">Amount</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 7pt">Amount</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: bold 7pt Times New Roman, Times, Serif; width: 15%"><FONT STYLE="font-size: 7pt">Revenue</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">$</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="font-size: 7pt">251,049</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 5%; text-align: right"><FONT STYLE="font-size: 7pt">10.3</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">$</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="font-size: 7pt">2,192,893</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 5%; text-align: right"><FONT STYLE="font-size: 7pt">89.7</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">$</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="font-size: 7pt">2,443,942</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 5%; text-align: right"><FONT STYLE="font-size: 7pt">100.0</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">$</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="font-size: 7pt">2,426,026</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 5%; text-align: right"><FONT STYLE="font-size: 7pt">100.0</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">$</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="font-size: 7pt">17,916</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 5%; text-align: right"><FONT STYLE="font-size: 7pt">0.7</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: bold 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">Cost of Revenue</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; font: 7pt Times New Roman, Times, Serif; padding-left: 0.25in"><FONT STYLE="font-size: 7pt">Cost of service</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">34,740</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">1.5</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">172,228</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">7.0</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">206,968</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">8.5</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">163,360</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">6.7</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">43,608</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">26.7</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 7pt Times New Roman, Times, Serif; padding-left: 0.25in"><FONT STYLE="font-size: 7pt">Cost of labor</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">183,703</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">7.5</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">1,106,231</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">45.3</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">1,289,934</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">52.8</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">1,207,344</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">49.8</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">82,590</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">6.8</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; font: 7pt Times New Roman, Times, Serif; padding-left: 0.25in"><FONT STYLE="font-size: 7pt">Fuel</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">42,776</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">1.8</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">368,108</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">15.1</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">410,884</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">16.9</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">395,155</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">16.3</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">15,729</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">4.0</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 7pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">Maintenance
    and repairs</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">15,597</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">0.6</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">258,481</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">10.6</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">274,078</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">11.2</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">257,963</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">10.6</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">16,115</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">6.2</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: 7pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">Total cost
    of revenue</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">276,816</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">11.4</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">1,905,048</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">78.0</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">2,181,864</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">89.4</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">2,023,822</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">83.4</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">158,042</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">7.8</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">Gross Profit (Loss)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(25,767</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(1.1</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">287,845</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">11.8</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">262,078</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">10.7</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">402,204</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">16.6</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(140,126</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(34.8</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; font: 7pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">General
    and administrative expenses</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">317,039</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">13.0</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">343,320</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">14.0</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">660,359</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">27.0</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">591,924</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">24.4</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">68,435</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">11.6</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: 7pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">Total operating
    expenses</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">317,039</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">13.0</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">343,320</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">14.0</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">660,359</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">27.0</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">591,924</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">24.4</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">68,435</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">11.6</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: bold 7pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">Loss
    from Operations</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(342,806</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(14.0</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(55,475</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(2.3</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(398,281</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(16.3</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(189,720</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(7.8</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(208,561</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">109.9</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">Other Income (Expenses)</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; font: 7pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 7pt">Interest expenses, net</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(27,808</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(1.1</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(27,808</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(1.1</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(29,949</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(1.2</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">2,141</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(7.1</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 7pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">Other income,
    net</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">5,164</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">0.2</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">5,164</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">0.2</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">8,925</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">0.4</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(3,761</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(42.1</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: 7pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">Total other
    expenses, net</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(22,644</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(0.9</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(22,644</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(0.9</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(21,024</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(0.8</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(1,620</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">7.7</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">Loss before Income Tax Benefit</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(342,806</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(14.0</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(78,119</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(3.2</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(420,925</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(17.2</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(210,744</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(8.7</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(210,181</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">99.7</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 7pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: bold 7pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">Income
    Tax Benefit</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(42,103</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(1.7</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(384</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(42,487</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(1.7</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(2,354</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(0.1</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(40,133</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">1,740.9</FONT></TD>
    <TD STYLE="font: 7pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD></TR>
  <TR STYLE="font-size: 7pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: bold 7pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt">Net
    Loss</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(300,703</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(12.3</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(77,735</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(3.2</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(378,438</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(15.5</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 7pt">_%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(208,390</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(8.6</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 7pt">)%</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">(170.048</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 7pt">)</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 7pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 7pt">81.6</FONT></TD>
    <TD STYLE="font: bold 7pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 7pt">%</FONT></TD></TR>
  </TABLE>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Revenue</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue was $251,049 for the period from October
26, 2024 to November 30, 2024 (Successor) and $2,192,893 for the period from December 1, 2023 to October 25, 2024 (Predecessor), representing
a total amount of $2,443,942 for the year ended November 30, 2024, compared with $2,426,026 for the year ended November 30, 2023, an
increase of $17,916, or 0.7%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Cost of Revenue</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The cost of revenue consists of labor costs,
fuel expenses, service costs and maintenance related costs. Our cost of revenue was $276,816 for the period from October 26, 2024 to
November 30, 2024 (Successor) and $1,905,048 for the period from December 1, 2023 to October 25, 2024 (Predecessor), representing a total
amount of $2,181,864 for the year ended November 30, 2024, compared with $2,023,822 for the year ended November 30, 2023, an increase
of $158,042, or 7.8%. The percentage of increase in cost of revenue was more than that in revenue during the same period, primarily due
to additional costs incurred during the transition period following the acquisition. These transition-related costs were driven by: (i)
driver training programs to ensure compliance with FedEx safety standards, (ii) route optimization efforts that required temporary increases
in staffing and fuel expenditures; and (iii) fleet maintenance and upgrades to enhance delivery efficiency, as discussed in &ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif">&mdash;</FONT>Gross
Profit&rdquo; below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Gross Profit (Loss)</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the period from October 26, 2024 to November
30, 2024 (Successor), we reported a gross loss of $25,767, and combined with the Predecessor&rsquo;s Gross Profit of $287,845 for the
period from December 1, 2023 to October 25, 2024 (Predecessor), fiscal year 2024 gross profit was $262,078, compared with $402,204 for
the year ended November 30, 2023, a decrease of $140,126, or 34.8%. The decline in gross profit was primarily driven by increased expenses
incurred during the post-acquisition transition period. These higher costs were a result of efforts to integrate operations, comply with
FedEx Ground&rsquo;s ISP requirements, and maintain service continuity. While these transition-related expenses impacted short-term profitability,
they are one-time costs. As the integration process stabilizes, the Company expects cost efficiencies to improve, supporting margin recovery
in future periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>General and Administrative Expenses</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth the breakdown
of our general and administrative expenses for the periods presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">For the period from
    <BR>
    October 26, 2024</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">For the period from<BR>
    December 1, 2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center">Total for Year <BR> Ended</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Year Ended<BR>
    November 30,</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year
    over Year<BR> Change</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">to
    November 30, 2024<BR>
    (Successor)</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">to
    October 25, 2024<BR>
    (Predecessor)</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">November
    30,2024<BR>
    (Combined)</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2023<BR>
    (Predecessor)</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">%</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold; text-align: left">G<B>eneral and administrative
    expenses</B></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 34%; font-size: 10pt; text-align: left; padding-left: 6pt">Professional fees</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">1,636</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">64,625</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">66,261</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">72,360</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">(6,099</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 10pt; text-align: right">(8.4</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 6pt">Travel &amp; entertainment expenses</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">808</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">16,092</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">16,900</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">18,699</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(1,799</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(9.6</TD><TD STYLE="font-size: 10pt; text-align: left">)%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 6pt">Legal &amp; accounting fees</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100,236</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">13,395</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">113,631</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">49,355</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">64,276</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">130.2</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 6pt">Settlement fees</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">166,847</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(166,847</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(100.0</TD><TD STYLE="font-size: 10pt; text-align: left">)%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 6pt">Depreciation &amp; amortization</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">25,322</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">220,858</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">246,180</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">233,695</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12,485</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5.3</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 6pt">Computer and internet expenses</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11,510</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11,510</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">16,001</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(4,491</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(28.1</TD><TD STYLE="font-size: 10pt; text-align: left">)%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 6pt">Acquisition related costs</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">186,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">186,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">186,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100.0</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; padding-left: 6pt">Others</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,037</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">16,840</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">19,877</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">34,967</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(15,090</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(43.2</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 0.375in">Total
    general and administrative expenses</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">317,039</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">343,320</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">660,359</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">591,924</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">68,435</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">11.6</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">%</TD></TR>
  </TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">General and administrative expenses totaled $660,359
for the year ended November 30, 2024, consisting of $317,039 incurred during the Successor period (October 26, 2024 to November 30, 2024)
and $343,320 incurred during the Predecessor period (December 1, 2023 to October 25, 2024). This represents an increase of $68,435, or
11.6%, compared to $591,924 for the year ended November 30, 2023. The increase was mainly driven by higher legal and accounting fees,
which increased by $64,276, due to additional professional services for financial reporting and regulatory compliance after the acquisition.
We also incurred $186,000 in acquisition-related costs for transaction activities and integration efforts. Depreciation and amortization
expenses increased by $12,485, primarily due to the amortization of newly acquired intangible assets. These increases were partially
offset by the absence of $166,847 in settlement fees incurred in the prior year but not in the current period, as well as a reduction
in professional and travel expenses. While acquisition-related costs led to a temporary rise in expenses, we expect a more stable cost
structure moving forward as these one-time costs subside.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Interest expenses, net</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For the period from<BR>
October 26, 2024</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For the period from<BR>
December 1, 2023</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Year Ended<BR>
November 30,</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Change</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>to November 30, 2024 <BR>
(Successor)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>to October 25, 2024<BR>
(Predecessor)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2023<BR>
(Predecessor)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Business Loans</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18,674</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">$</TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">29,949</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">$</TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(11,275</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(37.6</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockholder Loan</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">$</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">$</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,134</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">$</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">$</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,134</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.0</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Interest expense was $nil for the period from
October 26, 2024 to November 30, 2024 (Successor) and $27,808 for the period from December 1, 2023, to October 25, 2024 (Predecessor),
compared with net interest expense of $29,949 for the year ended November 30, 2023, representing a 7.1% decrease year-over-year. The
decrease was primarily due to lower interest expenses on business loans, which were used to finance vehicle purchases, partially offset
by interest incurred on a stockholder loan related to a litigation settlement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Income Tax Benefit</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our income tax benefit was $42,103 for the period
from October 26, 2024 to November 30, 2024 (Successor) and $384 for the period from December 1, 2023 to October 25, 2024 (Predecessor),
resulting in a total benefit of $42,487 for the year ended November 30, 2024, compared with $2,354 for the prior year, an increase of
$40,133, or 1,704.9%. The increase in benefit for income tax was mainly due to a higher deferred tax benefit recognized from net operating
loss carryforwards during the period from October 26, 2024 to November 30, 2024 (Successor).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Net Loss</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the period from October 26, 2024, to November
30, 2024 (Successor), we reported a net loss of $300,703, while net loss for the period from December 1, 2023, to October 25, 2024 (Predecessor)
was $77,735, compared with net loss of $208,390 for the year ended November 30, 2023. The improvement in the period from December 1,
2023, to October 25, 2024 (Predecessor) was primarily due to the absence of litigation-related expenses, which had negatively impacted
profitability in the year ended November 30, 2023 following a one-time legal settlement. In contrast, the net loss in the period from
October 26, 2024, to November 30, 2024 (Successor) was driven primarily by acquisition and transition-related expenses, including higher
accounting and professional fees incurred post-acquisition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A significant portion of the net loss for the
year ended November 30, 2023, was attributed to litigation-related expenses, as disclosed in Note 12 &ndash; Commitments and Contingencies
to our consolidated financial statements included elsewhere in this Report. In November 2023, JAR settled a legal claim, resulting in
a one-time settlement cost that impacted our profitability. While this expense was fully recognized in the year ended November 30, 2023,
its financial effects continued to influence cash flow and operational decision-making in the subsequent year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Liquidity and Capital Resources</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In assessing our liquidity, we monitor and analyze
our cash on-hand, our ability to generate sufficient revenue, the collection of our accounts receivable, our ability to obtain additional
financial support in the future, and our operating and capital expenditure commitments. We reported cash of approximately $0.2 million
as of November&nbsp;30, 2024, reflecting our financial results post-acquisition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of November&nbsp;30, 2024, our working capital
was a deficit of $8,758, primarily due to accrued but unpaid expenses related to ETS&rsquo;s acquisition of JAR. These acquisition-related
costs, which include professional fees and other transaction expenses, increased our current liabilities for the period. We expect to
address these short-term obligations through available cash resources and future operating cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As reflected in the accompanying audited consolidated
financial statements, we reported a net loss of approximately $0.3 million during the period from October 26, 2024 through November 30,
2024 (Successor). We also reported cash use in operating activities of approximately $0.2 million for the period from October 26, 2024
through November 30, 2024 (Successor), and total stockholders&rsquo; equity of approximately $1.4 million as of November 30, 2024.These
numbers reflect approximately one month of operations and were significantly impacted by closing costs related to the JAR acquisition.
We believe these results are not reflective of our ongoing operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In August&nbsp;2024, ETS sold 1,000,000 unregistered
shares of Class&nbsp;A common stock at a price of $0.9 per share. The gross proceeds were $0.9 million. As of November&nbsp;30, 2024,
we received all the proceeds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 4, 2025, we secured two separate
revolving credit facilities of $2.0 million from our major stockholders, providing a total of $4.0 million in available liquidity. These
facilities carry an annual interest rate of 12%, with quarterly interest payments and full principal repayment due at the end of the
24-month term. Additionally, we have the option to extend the facilities for an additional 12-month period. We have no immediate plans
to utilize these facilities. Any use would likely be short term in nature and be rolled over, repaid using working capital, or through
equity or other debt financing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Other than the proceeds raised from this offering,
additional cash may be needed due to&#8239;the unforeseen costs associated with maintaining public company status, including regulatory compliance, legal and administrative expenses,
or unanticipated changes in business conditions or other unforeseen developments. If additional resources
are required, we may issue additional equity or debt securities. The sale of additional equity or equity-linked securities could result
in further dilution to stockholders. Incurring additional debt would increase our debt service obligations and could impose operating
and financial covenants that may limit our operations. Financing may not be available in amounts or on terms that are acceptable to us,
or it may not be available at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Cash Flows</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarizes our cash flows
for the periods presented:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Successor</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Predecessor</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For
                                            the Period from</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>October
                                            26, 2024 to</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>November
                                            30, 2024</B></P></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For
                                            the Period from</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>December
                                            1, 2023 to</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>October
                                            25, 2024</B></P></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For
    the Year<BR>
    Ended November 30,<BR>
    2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; font-size: 10pt; text-align: justify">Net cash provided by (used in) operating activities</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">(174,836</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">203,775</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">(8,822</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">Net cash used in investing activities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(899,669</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(6,010</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Net cash provided by (used in) financing activities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,239,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(194,995</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(30,347</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 2.5pt">Net increase (decrease) in cash</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">164,495</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">8,780</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(45,179</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Operating Activities</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash used in operation was $174,836 for the
period from October 26, 2024 to November 30, 2024 (Successor), mainly derived from a net loss of $300,703 for the period, and net changes
in our operating assets and liabilities, which mainly included an increase in prepaid expenses and other current assets of $93,260, which
was partially offset by an increase in other payables and other current liabilities of $272,193 during the period from October 26, 2024
to November 30, 2024 (Successor).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash provided by operation was $203,775 for
the period from December 1, 2023 to October 25, 2024 (Predecessor), mainly derived from a net loss of $77,735 for the period, depreciation
of fixed assets of $220,858, and net changes in our operating assets and liabilities, which mainly included a decrease in accounts receivable
of $57,433 during the period from December 1, 2023 to October 25, 2024 (Predecessor).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash used in operation was $8,822 for the
year ended November 30, 2023 (Predecessor), mainly derived from a net loss of $208,390 for the year, depreciation of fixed assets of
$230,947, and net changes in our operating assets and liabilities, which mainly included a decrease in other payables and other current
liabilities of $28,440 during the year ended November 30, 2023 (Predecessor).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Investing Activities</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash used in investing activities totaled
$899,669 for the period from October 26, 2024 to November 30, 2024 (Successor), primarily due to the acquisition consideration paid to
previous stockholders of JAR, net of cash acquired.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the period from December 1, 2023 to October
25, 2024 (Predecessor), net cash used in investing activities was $nil.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended November 30, 2023 (Predecessor),
net cash used in investing activities totaled $6,010, primarily driven by the purchase of property and equipment in the same amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Financing Activities</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash provided by financing activities amounted
to $1,239,000 for the period from October 26, 2024 to November 30, 2024 (Successor), which included capital contributions from a stockholder
of $589,000 and proceeds from issuance of common stock of $650,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash used in financing activities amounted
to $194,995 for the period from December 1, 2023 to October 25, 2024 (Predecessor), which mainly included repayments of long-term borrowings
of $205,452.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net cash used in financing activities amounted
to $30,347 for the year ended November 30, 2023 (Predecessor), which mainly included repayments of long-term borrowings of $197,172,
which was partially offset by the borrowing from a stockholder of $166,847.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Contractual Obligations and Other Commitments</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has no long-term fixed contractual
obligations or commitments as of November 30, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Going Concern Considerations</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
</FONT>liquidity position and ability to sustain operations for at least the next 12 months have been carefully evaluated as part of
management&rsquo;s going concern assessment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have, for the reporting periods and as of
the date of this prospectus, relied on stable, recurring revenue from FedEx under its ISP Agreement. This structure ensures weekly cash
settlements, eliminating the risks associated with traditional accounts receivable collection and providing predictable working capital
replenishment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Despite incurring a net loss of $300,703 for
the period from October 26, 2024 to November 30, 2024 (Successor), primarily due to acquisition-related costs, we maintain a strong liquidity
outlook, supported by the following key factors:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Stable
                                            Operating Cash Flow &ndash; the Company&rsquo;s ISP Agreement with FedEx provides a consistent
                                            revenue stream through automated weekly settlements, reducing concerns regarding short-term
                                            liquidity constraints.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Stockholder
                                            Financial Support &ndash; in February 2025, the Company secured two separate $2.0 million
                                            revolving credit facilities from major stockholders, providing a total liquidity buffer of
                                            $4.0 million. These facilities carry a 12% annual interest rate, require quarterly interest
                                            payments, and full principal repayment due at the end of the 24-months term and offer a flexible
                                            extension option for an additional 12 months.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Strategic
                                            Expansion and Future Growth &ndash; in January 2025, the Company entered into stock purchase
                                            agreements to acquire two additional FedEx Ground ISP business entities. These acquisitions
                                            are expected to significantly increase revenue, improve operating efficiencies, and strengthen
                                            overall financial performance in fiscal year 2025.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of November 30, 2024, our working capital
was negative $8,758, primarily due to timing differences in acquisition-related cash outflows, which the management believes do not reflect
a fundamental liquidity issue. Management expects a shift to net profitability beginning in the second fiscal quarter of 2025, supported
by ongoing revenue growth and cost optimization measures aimed at further strengthening financial performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Considering these factors, management has concluded
that there is no substantial doubt regarding our ability to continue as a going concern. While the financial statements reflect early-stage
operational losses and working capital constraints, they also highlight our strong liquidity position, secured credit facilities, and
positive revenue trajectory &ndash;all of which reinforce our capacity to sustain operations for the foreseeable future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Off-Balance Sheet Arrangements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We did not have during the period presented,
and we do not currently have, any off-balance sheet financing arrangements as defined under the rules&nbsp;and regulations of the SEC,
or any relationships with unconsolidated entities or financial partnerships, including entities sometimes referred to as structured finance
or special purpose entities, that were established for the purpose of facilitating off-balance sheet arrangements or other contractually
narrow or limited purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Critical Accounting Policies and Estimates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We prepare our financial statements in conformity
with the accounting principles generally accepted in the U.S. (&ldquo;U.S. GAAP&rdquo;), which require us to make judgments, estimates,
and assumptions that affect our reported amount of assets, liabilities, revenue, costs and expenses, and any related disclosures. Although
there were no material changes made to the accounting estimates and assumptions in the past fiscal year, we continually evaluate these
estimates and assumptions based on the most recently available information, our own historical experience and various other assumptions
that we believe to be reasonable under the circumstances. Since the use of estimates is an integral component of the financial reporting
process, actual results could differ from our expectations as a result of changes in our estimates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We believe the following critical accounting
policies involve the most significant estimates and judgments used in the preparation of our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Uses of estimates</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In preparing the consolidated financial statements
in conformity with U.S. GAAP, management makes 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 revenue
and expenses during the reporting period. These estimates are based on information as of the date of the consolidated financial statements.
Significant estimates required to be made by management include, but are not limited to, the allowance for credit losses of accounts
receivables, useful lives of property and equipment, the recoverability of long-lived assets, impairment of goodwill, revenue recognition,
and the realization of deferred tax assets. Actual results could differ from those estimates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Fair value of financial instruments</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. 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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Level 1&thinsp;&mdash;&thinsp;inputs to the valuation
    methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Level 2&thinsp;&mdash;&thinsp;inputs to the valuation methodology include
    quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets
    that are not active, inputs other than quoted prices that are observable and inputs derived from or corroborated by observable market
    data. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Level 3&thinsp;&mdash;&thinsp;inputs to the valuation methodology are
    unobservable. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unless otherwise disclosed, the fair value of
the Company&rsquo;s financial instruments, including cash, accounts receivable, prepaid expenses and other current assets, accounts payable,
due to a related party, other payables and other current liabilities, approximate the fair value of the respective assets and liabilities
as of November&nbsp;30, 2024 and 2023, based upon the short-term nature of the assets and liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Business Combinations </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Business combinations are accounted for using
the acquisition method of accounting. Amounts paid for an acquisition are allocated to the assets acquired and liabilities assumed based
on their fair values at the date of acquisition. The accounting for business combinations requires estimates and judgment in determining
the fair value of assets acquired, liabilities assumed, and contingent consideration transferred, if any, regarding expectations of future
cash flows of the acquired business, and the allocation of those cash flows to the identifiable intangible assets. The determination
of fair value is based on management&rsquo;s estimates and assumptions, as well as other information compiled by management, including
valuations that utilize customary valuation procedures and techniques. If actual results differ from these estimates, the amounts recorded
in the financial statements could result in a possible impairment of intangible assets and goodwill. Consideration transferred in a business
acquisition is measured at the fair value as of the date of acquisition. Acquisition-related expenses are expensed when incurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Income Taxes</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Income taxes are accounted for using the asset
and liability method, as prescribed under ASC 740,&nbsp;Income Taxes (&ldquo;ASC 740&rdquo;). Deferred tax assets and liabilities are
recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of
assets and liabilities and their respective tax bases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prior to JAR Acquisition, as an S-Corporation,
the Predecessor was not subject to federal corporate income taxation, and its taxable income, deductions, and credits were passed through
to its stockholders. the Predecessor was subject to the California corporate franchise tax under RTC &sect; 23802, which requires S-Corporations
to pay the greater of a minimum tax of $800 or 1.5% of net taxable income derived from California sources. In accordance with ASC 740-10-15-4,
deferred tax assets and liabilities were recognized for state-level temporary differences and net operating loss (&ldquo;NOL&rdquo;)
carryforwards. Following the JAR Acquisition, the Predecessor became a wholly owned subsidiary of the Company, and a C-Corporation, and
is subject to corporate income taxation under the Internal Revenue Code and applicable state tax laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ASC 740 requires a tax position to meet a recognition
threshold before it is recognized in the financial statements. We assess uncertain tax positions based on management&rsquo;s evaluation
of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. This assessment includes consideration
of any potential appeals or litigation processes based on the technical merits of the tax position. Because significant assumptions and
judgments are involved in determining whether a tax benefit is more likely than not to be sustained, actual results may differ from estimates
under different assumptions or conditions. We recognize interest and penalties related to unrecognized tax benefits as part of the income
tax provision in the consolidated statements of income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Impairment of Long-Lived Assets</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We review long-lived assets to be held-and-used
for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. If
an impairment indicator is present, we evaluate recoverability by comparing the carrying amount of the asset group to the sum of the
undiscounted expected future cash flows over the remaining useful life of the asset group. If the carrying amount exceeds the recoverable
amount, an impairment loss is measured as the amount by which the carrying amount exceeds the fair value of the asset. We estimate fair
value using the expected future cash flows discounted at a rate consistent with the risks associated with the recovery of the assets.
Based on the above analysis, no impairment loss was recognized for the period from October 26, 2024 through November 30, 2024 (Successor),
the period from December 1, 2023 through October 25, 2024, and the year ended November 30, 2023 (Predecessor).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Revenue recognition</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ASC 606 establishes principles for reporting
information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The core
principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects
the consideration it expects to receive in exchange for those goods or services as performance obligations are satisfied. ASC 606 applies
a five-step model for revenue recognition, which requires the Company to: (i)&nbsp;identify the contract with the customer, (ii)&nbsp;identify
the performance obligations in the contract, (iii)&nbsp;determine the transaction price, including variable consideration to the extent
that it is probable that a significant future reversal will not occur, (iv)&nbsp;allocate the transaction price to the respective performance
obligations in the contract, and (v)&nbsp;recognize revenue when (or as) the Company satisfies the performance obligation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are engaged in providing last-mile delivery
services as an Independent Service Provider (ISP) for&#8239;FedEx. We derive revenue from both fixed service charges and activity-based
charges under its ISP Agreement. Performance obligations include (i)&nbsp;weekly service coverage (fixed weekly service charges), (ii)&nbsp;delivery
and pickup stops (stop charges and e-commerce stop charges), (iii)&nbsp;handling and delivering packages (package charges, including
e-commerce and large package deliveries), and (iv)&nbsp;compliance with branding requirements (apparel and vehicle branding).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue is recognized as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Over Time</B>: Fixed weekly service charges and branding-related
    revenue (e.g., apparel and vehicle branding) are recognized evenly over the service period.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Point-in-Time</B>: Activity-based revenue, including stop charges,
    package charges, and fuel surcharges, is recognized upon completion of the respective performance obligation, such as completing
    a delivery or pickup stop.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We recognize revenue on a gross basis under the
ISP Agreement with FedEx. We are responsible for fulfilling the promised services, managing operational resources, and ensuring compliance
with FedEx&rsquo;s performance standards. All contracts with FedEx contain a single performance obligation for each revenue stream, with
no separately identifiable promises.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_007"></A>BUSINESS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are a holding company incorporated in Delaware.
Through our wholly owned subsidiary, JAR Transportation Inc, a California-based operating entity, we specialize in last-mile delivery
services within California. Our core business focuses on retrieving packages from distribution hubs and ensuring their prompt and secure
delivery to recipients&rsquo; doorsteps. Committed to innovation and efficiency, our mission is to optimize last-mile logistics by providing
efficient, reliable, and innovative delivery solutions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of the date of this prospectus, we employ approximately [33] full-time and [3] part-time staff, including [26] drivers. Our fleet consists of approximately [20] trucks and trailers.</FONT> We provide exclusive pickup and delivery services within
our designated service area, covering approximately 1,665.28 square miles. We utilize GroundCloud, a leading logistics software, during
our course of business, for route optimization, driver management, and compliance monitoring. Additionally, we are actively expanding
our investment in advanced technologies to enhance our scalability, automate our operations, and drive our data-driven decision-making.
On an average day, we complete between 1,000 to 1,700 stops, facilitating the pickup and delivery of approximately 1,200 to 2,000 packages.
During peak seasons, our daily stops rise to an estimated 2,000, allowing us to meet heightened demand with efficiency and reliability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the year ended November 30, 2023 (Predecessor), we reported total revenue of $2,426,026 and
incurred a net loss of $208,390. For the period from December 1, 2023 to October 25, 2024 (Predecessor), we reported a total revenue
of $2,192,893 and a net loss of $77,735. For the period from October 26, 2024 to November 30, 2024 (Successor)</FONT>, we reported total
revenue of $251,049 and a net loss of $300,703. During this period, 100% of our revenue was derived from our subsidiary&rsquo;s last-mile
delivery services to our sole customer, FedEx.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Industry</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
mainly compete in the </FONT>route delivery industry, which has several material barriers of entry, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Substantial
                                            time and capital investment</U>. Establishing a robust and efficient logistics network requires
                                            substantial financial and time commitments. This includes investments in employee recruitment
                                            and training, software procurement and maintenance, regulatory compliance, and the acquisition
                                            of transportation assets such as trucks, vans, and bikes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Technological
                                            proficiency</U>. Operational efficiency and customer satisfaction rely on: (i)&nbsp;advanced
                                            technologies, including route optimization software, real-time tracking systems, and automated
                                            dispatching software, (ii)&nbsp;continuous investments in technology training, and (iii)&nbsp;continuous
                                            efforts in developing, maintaining, and upgrading the technological infrastructure to keep
                                            pace with the industrial changes and challenges.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Regulatory
                                            barriers</U>. It could be both time-consuming and costly to comply with various local, state,
                                            and federal regulations related to transportation, safety, and data privacy. For further
                                            information on the relevant laws and regulations, see &ldquo;&mdash;Regulations.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Balancing
                                            service quality and cost efficiency</U>. Customers expect fast, reliable, and seamless delivery
                                            services at competitive prices. Maintaining a reputation and gaining customer trust while
                                            optimizing costs in a competitive market presents an ongoing challenge.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Effective
                                            Management</U>. Strong leadership and strategic decision-making are critical for aligning
                                            operations with market demands and driving long-term success.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of the date of this prospectus, we primarily operate and compete in California. Our competitors range from large multinational corporations
to regional service providers, including Amazon Logistics, Aramex, DHL, DoorDash, DPD, Grubhub, Postmates, UPS, USPS, and certain regional
logistics companies. We believe the </FONT>route delivery industry is highly competitive, with key competitive factors including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Price
                                            Pressure</U>. Customers that need delivery services can easily switch service providers due
                                            to low replacement costs, leading to intense price competition.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Service
                                            quality</U>. Speed and reliability are critical factors that influence customer decisions
                                            when selecting a delivery provider.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Technology
                                            adoption</U>. Companies that fail to implement advanced technologies, such as AI-powered
                                            route optimization or real-time tracking systems, will risk falling behind more tech-savvy
                                            competitors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Financial
                                            resources</U>. We believe the e-commerce boom has attracted a surge of large companies entering
                                            into the parcel delivery industry, such as Uber Eats, DoorDash, and Instacart. These large
                                            companies usually have significantly greater financial resources and revenue streams than
                                            smaller competitors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Regional
                                            Specialization</U>. Local or regional providers often cater to niche markets, such as medical
                                            supplies or perishables goods, enabling them to carve out specialized segments and compete
                                            effectively against larger players.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Seasonal
                                            Demand</U>. Peak periods, such as holidays, create intense competition for limited resources,
                                            including drivers, vehicles, and fulfillment centers. Scalability and efficient resource
                                            allocation become critical competitive factors during these times.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Services</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the reporting period from December 1, 2022, to November 30, 2024</FONT>, 100% of our revenue was derived from providing last-mile delivery
services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date of this prospectus, we have approximately
[33] full-time and [3] part-time employees, including [26] drivers, and we own a fleet of approximately
20 vehicles consisting of trucks and trailers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
operate seven days a week, typically from</FONT> 6:00 am and 11:00 pm. Our designated service area, where we provide exclusive pickup
and delivery services to our customer, spans approximately 1,665.28 square miles. On an average day, our operations include 1,000 to
1,700 stops, with around 1,200 to 2,000 packages to be picked up and delivered per day on average. However, during peak seasons, we estimate
to make approximately 2,000 stops on a daily basis. Our pickup and delivery process generally follows a structured sequence of steps
to ensure efficiency and reliability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Package pickup</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We collect packages for delivery from designated
locations assigned by our customer, load packages into our vehicles, and implement necessary safety measures to ensure secure storage
and handling throughout the delivery process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
manage fluctuations in service demand, we receive package volume forecasts </FONT>from our customer, usually one week before the service
day. Based on these forecasts, we strategically plan and allocate our trucks and drivers to ensure adequate service capacity. To optimize
delivery routes, particularly during peak seasons, we utilize GroundCloud software on all of our delivery trucks. Powered by AI, GroundCloud
enhances operational efficiency by monitoring driving conditions, detecting risky and unsafe driving behaviors, and optimizing delivery
routes in real time. We have set up automatic renewal of our subscription to GroundCloud as of the date of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Package transportation</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
optimize transportation route</FONT>s, assign drivers efficiently to their respective workloads, monitor real-time delivery status, and
maximize efficient delivery by relying on the operation team&rsquo;s expertise and leveraging advanced technology. Each of our delivery
vehicle is equipped with GPS and route navigation systems to enhance accuracy and efficiency. We transport packages from distribution
centers to the address specified or designated for each package. Unlike predetermined package delivery sequence, our drivers determine
their own routes and delivery sequence based on real-time traffic conditions and their personal experience in their service area, supplemented
by route recommendations from the installed navigation technology.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Package delivery</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Delivery
recipients are able to track their shipment status in real-time through the tracking system. Our delivery team is professionally trained
to ensure packages are delivered to the correct address and interact positively with delivery recipients. To minimize mis-deliveries,
we utilize GroundCloud, a navigation and support software that assists our drivers throughout their routes. If a mis-delivery occurs
and a recipient files complaint with FedEx, FedEx will notify us and we will conduct an investigation. Drivers who are responsible for
such mis-deliveries will receive additional training to prevent similar incidents in the future.</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Post-delivery feedback</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
maintain detailed logs that track each driver&rsquo;s total stops, packages delivered, estimated speed, driving distance, and overall
drive time. These records help us evaluate </FONT>service performance and operational efficiency. We actively address customer feedback,
inquiries, and complaints, taking prompt action to investigate and resolve any reported issues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Customer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the reporting period from December 1, 2022, to November 30, 2024, and as of the date of this prospectus</FONT>, FedEx was our sole customer,
accounting for 100% of our revenue. As an independent contractor for FedEx, we provide last-mile delivery service, bridging the gap between
FedEx and the final delivery recipients. FedEx has designated us as the exclusive service provider in certain service regions in California
spanning approximately 1,665.28 square miles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Material terms of customer engagement</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
entered into an Independent Service Provider Agreement with FedEx</FONT>. The material terms of the current agreement include the following.
(i)&nbsp;We agree to provide package pickup and delivery services to FedEx with our own vehicles and our own employees. Our company retains
exclusive authority to determine the best means to meet the expectations and demands of shippers and recipients, including complete discretion
over and responsibility for route design, delivery sequence, type and number of equipment, and staffing and personnel decisions, consistent
with other terms of the agreement. (ii)&nbsp;We have the exclusive right and obligation to provide pickup and delivery services that
serve both businesses and residential recipients in certain contracted service areas, which areas may be redefined by written agreements
of both parties. (iii)&nbsp;Our employees providing the services must satisfy certain appearance, safety, qualification, legal and regulatory
requirements. (iv)&nbsp;Our delivery vehicles must satisfy certain size, type, color, maintenance, inspection, legal and regulatory requirements.
(v)&nbsp;The right, title and interest in and to data and information accessed through, created in the use of, or made available in connection
with the provision of the services will remain the exclusive property of FedEx. No right in or to such data is granted, transferred or
assigned to our Company. (vi)&nbsp;We derive revenue from both fixed service charges and activity-based charges under the agreement.
The charges are incurred and paid on a weekly basis and typically include (a)&nbsp;weekly service coverage (fixed weekly service charges),
(b)&nbsp;pickup and delivery stop charges and e-commerce stop charges (activity-based charges for each stop), (c)&nbsp;package charges
(activity-based charges for picking up or delivering each package when making a stop), (d)&nbsp;surge stop charges (activity-based charges
for each stop that exceeds the daily stop threshold specified in the agreement), (e)&nbsp;brand promotion charges for using FedEx&rsquo;s
logos and marks on employee apparel and vehicles during the provision of the services, and (f)&nbsp;large package mix charges (activity-based
charges based on the percentage of large packages delivered),&nbsp;etc. (vii)&nbsp;The term of this agreement commenced on October&nbsp;12,
2024 and will continue through January&nbsp;30, 2026, unless terminated earlier or extended. This agreement may be terminated without
cause at any time by mutual written agreement, or with cause or for changed circumstances by either party. Both parties agree there is
no obligation or expectation for the entry into a subsequent agreement at the expiration of this agreement, nor is there any guarantee
of, or right to, a subsequent agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Customer retention</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have maintained a stable relationship with FedEx </FONT>for the reported periods. To retain FedEx&rsquo;s business, we focus on the following
strategies:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Meeting
                                            Performance Metrics</U>. We consistently aim to meet key performance metrics such as on-time
                                            delivery rates, package handling accuracy, and customer satisfaction. We use real-time analytics
                                            tools to monitor performance and take corrective actions promptly.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Fostering
                                            Strong Communication</U>. We maintain a steady relationship with our customer by keeping
                                            open and transparent communication with regional managers and operations teams of our customer
                                            and proactively addressing concerns or issues before they escalate and demonstrate a commitment
                                            to continuous improvement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Investing
                                            in Workforce Excellence</U>. We invest in workforce excellence by providing regular training
                                            to drivers and staff to ensure compliance with service standards and enhance professionalism.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Optimizing
                                            Operational Efficiency</U>. We optimize operational efficiency by leveraging technology to
                                            improve route planning, reduce fuel costs, and enhance delivery speed, and implementing preventive
                                            maintenance programs for vehicles to minimize downtime and ensure reliability.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Scaling
                                            Flexibility for Peak Seasons</U>. We scale flexibly for peak seasons by maintaining a roster
                                            of part-time or gig drivers who can be activated during peak seasons and maintaining cooperation
                                            with subcontractors or other parties for temporary support during high-demand periods.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><U>Ensuring
                                            Compliance and Safety</U>. We ensure compliance and safety by regularly auditing operations
                                            to ensure compliance with safety and operational guidelines, and using GPS tracking and other
                                            tools to monitor and improve driver behavior.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Customer concentration risk</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Relying
heavily on a single customer for our business can create vulnerability, especially if the relationship </FONT>with that customer deteriorates
or if they significantly reduce the demand for our services. The loss of our only customer or a reduction in service demand would have
a material adverse impact on our business and results of operations. See &ldquo;Risk Factors&mdash;Our business is heavily dependent
on FedEx, making us vulnerable to changes in our relationship with FedEx.&rdquo; We recognize the risk of concentrating our revenue on
one customer, and aim to explore additional customers to reduce over-reliance and maintain financial stability while also focusing on
retaining our only customer. See &ldquo;&mdash;Growth Strategies.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Suppliers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the reporting period from December 1, 2022, to November 30, 2024, o</FONT>ur main supplier was Robinson Oil Corp., which supplies fuels
and independently accounted for approximately 15% of our total operating costs. Such major supplier was not our related party. If we
lose the major supplier of fuels, we believe it will not have a material adverse impact on our business because of the availability of
gas stations and relatively low replacement costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Competitive Strengths</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We believe the following competitive advantages
are essential for our success and distinguish us from our competitors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Service capacity</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S</FONT>ince
inception, we have dedicated significant time and capital to building and maintaining our service capacity. See &ldquo;&mdash;Our Services&rdquo;
and &ldquo;&mdash;Property, Plants, and Equipment.&rdquo; We estimate that it will take approximately two to three years to scale operations
to match our current capabilities. The costs range from $2 million to $3 million, covering expenses such as employee recruitment, employee
training, truck procurement, software procurement, and compliance maintenance. Of this total, $1 million to $1.5 million is expected
to be allocated to truck procurement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Service quality</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
adhere to strict</FONT> industrial and contractual standards to maintain high service quality. For example, our delivery staff must meet
certain appearance, safety, qualification, and other requirements. Our vehicles for the provision of delivery service must satisfy specific
size, type, color, and other requirements. By upholding these rigorous standards, we have been able to maintain a stable relationship
with our sole customer for the reported periods. We are committed to improving the reliability and efficiency of our services while ensuring
compliance with applicable regulatory requirements. See &ldquo;&mdash;Regulations.&rdquo; There have not been any occurrences, warnings,
or notifications of non-compliance of our Company with regard to any applicable laws and regulations as of the date of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Operating independence</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
operate with full autonomy over our logistics. This includes the </FONT>recruitment and deployment of our drivers, management and maintenance
of vehicles and other equipment, and coordination of deliveries within our service areas. We believe this independence provides us with
flexibility in our business operations and enhance our ability to respond to changes and challenges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Relative
exclusivity in the service area</U></FONT><U>s</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
</FONT>sole customer, FedEx, has designated us as the exclusive service provider in certain service regions. This relative exclusivity
in serving our customer reduces direct competition within these designated areas and enables us to focus on optimizing operational efficiency,
streamlining delivery routes, reducing vehicle mileage, and improving delivery timelines within our designated zones.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Predictable revenue model</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FedEx
was our only customer for the reported periods. According to our agreement with FedEx, we derive revenue from both fixed service charges
and activity-based charges, and the charges are incurred and paid on a weekly basis. See &ldquo;&mdash;Our Customer.&rdquo; </FONT>We
believe our revenue from such an arrangement is relatively stable and predictable, resulting in relatively stable cash flows and low
risk of bad debts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Safety maintenance</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are committed to ensuring the security of people, protecting vehicles from unauthorized entry and use, and preventing theft, loss, damage,
destruction, or delay in the handling, transporting, and storing of packages. All </FONT>of our employees undergo comprehensive training
 &nbsp;&nbsp;based on our customer&rsquo;s and our own requirements upon employment and are subject to safety tests and evaluations prior
to being permitted to deliver packages independently. All of our vehicles are subject to regular and comprehensive inspections by certified
mechanics covering tire checks, wheel inspection, and engine oil inspection. Additionally, all vehicles are subject to regular safety
inspections conducted by the station managers, including tire and brake checks. Packages are treated in strict accordance with the proper
safety standards depending on the package types.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Professional management</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
management team has extensive industry and management experience. Each member of our team has, on average, more than </FONT>a decade
of management experience, along with comprehensive knowledge in areas such as financial management, accounting matters, project management,
strategy development, customer relationship maintenance, and operational execution. See &ldquo;Management.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Growth Strategies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
growth strategies focus on scale expansion, cost optimization, and technological innovation. These strategies are designed to strengthen
our competitive position, broaden our market reach, and enhanc</FONT>e our operational efficiency and presented as follows in order of
priority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Expansion of Delivery Routes</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
plan to expand our last-mile delivery routes, which are expected to deliver the following three benefits. <I>First</I>, by strategically
acquiring new delivery routes, particularly in high-demand metropolitan and suburban areas, we expect to expand our market share and
service volume. This expansion will help us to increase revenue and spread fixed costs over a larger volume, ultimately improving profitability.
<I>Second</I>, expanding our route network is anticipated to enable us to secure contracts with new customers, such as large e-commerce
platforms, retailers, and logistic providers, thereby diversifying our customer base and enhancing our revenue streams. <I>Third</I>,
acquiring additional routes in close proximity will help to streamline logistics</FONT>, optimize delivery sequences, and reduce travel
time, fuel consumption, and vehicle wear. This will further improve efficiency and reduce operational costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition to expanding last-mile delivery,
which features relatively short distances, in the long run, we also plan to acquire long-haul trucks to enter the long-haul logistics
market. This diversification will enable us to add new revenue by managing the entire logistics chains, from regional distribution centers
to last-mile hubs. This service diversification is expected to create a more comprehensive network that can serve clients needing end-to-end
logistics solutions, potentially accelerating delivery timelines and capturing additional market share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date of this prospectus, we are actively
seeking new delivery routes with the goal of expanding our service areas and exploring connections with potential customers who require
last-mile delivery services. In January&nbsp;2025, we entered into stock purchase agreements with two delivery companies to further expand
our service areas. The terms of these agreements are described in &ldquo;Material Contracts.&rdquo;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Among our future plans and investments, expanding
our delivery routes is our priority. Accordingly, the net proceeds raised from this offering will be primarily allocated to equity acquisitions,
asset acquisitions, and other investments in businesses that serve customers who require last-mile delivery services, allowing us to
grow our service area and customer base. Although we have not yet secured definitive agreements with new customers, this initiative remains
our foremost focus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Operational
</U></FONT><U>Optimization</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We aim to further optimize our operations and
maximize our cost-effectiveness by implementing the following measures. <I>First</I>, with expanded route coverage, we have adopted and
will continue utilizing flexible staffing models, including part-time drivers and seasonal hires, to efficiently handle fluctuating delivery
demands. Additionally, data-driven scheduling helps align workforce needs with package volume. <I>Second,</I> we plan to invest in robust
financial systems that streamline payroll, expense tracking, and budgeting. These enhancements will improve cost control and provide
greater financial visibility to support our business growth. <I>Third</I>, we remain committed to investing in employee development and
retention. Competitive wages and benefits help us attract and retain skilled drivers, reducing turnover and ensuring a reliable workforce.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">As of the date of this prospectus, we have already
implemented several of these optimization measures and will continue refining our operations to enhance overall efficiency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>App
</U></FONT><U>Development </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have partnered with a third-party developer
to create an interactive app platform that connects third-party drivers with merchants seeking route delivery services. Once developed,
this platform will enable us to search for delivery opportunities based on our drivers&rsquo; geographic location, while merchants can
post delivery requests and select drivers based on factors such as experience, availability, and vehicle type. The platform is expected
to generate revenue by facilitating these connections between drivers and merchants. Funding for the app&rsquo;s development will come
from our own resources, and approximately 5% of the net proceeds from this offering will be allocated for ongoing maintenance and upgrades.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Eco-friendly Transition </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As environmental concerns and sustainability
trends continue to drive change, we are committed to adopt eco-friendly delivery solutions, such as electric vehicles, bikes, and carbon-neutral
delivery methods. The remaining proceeds from this offering will be allocated to support our eco-friendly transition. We believe this
initiative is essential for both the future of our business and the long-term health of the environment. Transitioning to electric vehicles
(EVs) offers several strategic advantages: (i) moving from fuel-based vehicles to electric vehicles has the potential to lower fuel costs
and mitigate the volatility associated with fluctuating fuel prices. While the initial investment in electric vehicles is higher, the
long-term savings in fuel, maintenance, and tax incentives &nbsp;are expected to deliver substantial financial benefits; (ii) as consumer
preferences increasingly favor sustainability, our commitment to eco-friendly practices enhance our appeal to environmentally conscious
consumers and corporations. This alignment is anticipated to strengthen our reputation as a forward-thinking company dedicated to reducing
its carbon footprint, further positioning us a preferred partner in the market place; and (iii) electric vehicles generally require less
maintenance than traditional fuel vehicles, resulting in lower repair costs and reduced downtime. We believe that the longer lifespan
of the electric vehicles will also contribute to lower overall costs and improve fleet availability, ensuring reliable service for our
customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">To
facilitate this transition, we are engaging with electric vehicle dealers and negotiating pricing. While we have not yet finalized any
definitive agreements for procuring electric vehicles, </FONT>we plan to deploy the first batch of electric vehicles within three to
six months of the completion of this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>T</U></FONT><U>echnology
and Automation</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">W</FONT>e
believe that advances in technology, such as AI-powered customized logistic software and autonomous vehicles, will revolutionize the
logistics industry. We plan to invest in suitable AI technologies to further optimize delivery routes and operations. For example,
we have engaged Inchtek, an AI solution provider for intelligent vehicles, to develop customized logistics software tailored to our
specific needs. This bespoke solution is expected to integrate advanced features, such as comprehensive vehicle tracking, digital
fleet management, intelligent dispatching, and data-driven analytics. By leveraging real-time data, AI-powered monitoring, and
predictive maintenance, the software is expected to enhance operational efficiency, improve maintenance, optimize delivery
schedules, and support data-driven decision-making based on seasonal and demand-based trends. These innovations will contribute to
the sustainable development of our fleet. Additionally, we recognize the long-term potential of autonomous vehicle technology. While
not yet commercially reliable, when available, autonomous vehicle will offer substantial cost savings and scalability. Self-driving
trucks can reduce the reliance on human drivers for long-haul routes, helping to address both high labor costs and staffing
challenges. Furthermore, AI-optimized autonomous vehicles can be utilized to enable real-time route adjustments, reduce idle time,
conserve fuel or battery life, and ensure more cost-efficient and faster deliveries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our plan is to gradually update our delivery
system by integrating customized AI technology developed by third-party providers and expect to integrate autonomous vehicles within
the next three to five years.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Intellectual Property</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of the date of this prospectus, we have registered two domain names, and we do not own any pending intellectual property applications
for the time being. We mainly rely on intellectual property laws to protect our intellectual property rights. There is no assurance to
prevent the unauthorized access, use, copying, reverse engineering, infringement, misappropriation or other violation of our intellectual
property and other proprietary information. Additionally, our intellectual property rights may not be respected in the future or may
be invalidated, circumvented, challenged, narrowed in scope, or rendered unenforceable. As of the date of this prospectus, our intellectual
property rights have not been subject to any adverse claims for infringement upon our intellectual property rights in the U.S.</FONT>,
and we have not been involved in any litigation or other claims related to any third party&rsquo;s intellectual property rights in the
U.S.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Property, Plants, and Equipment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date of this prospectus, we own a fleet
of approximately 20 vehicles consisting of trucks and trailers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our principal executive office is located in
23046 Avenida de la Carlota, Suite&nbsp;600, Laguna Hills, CA 92653. Our office space covers an area of approximately 320 square feet,
with a term from January&nbsp;14, 2025 to January&nbsp;31, 2026. The lease will automatically renew for another year unless we provide
notification for lease termination at least three months prior to the end of the current term. We plan to renew the lease in accordance
with its terms when needed. As of the date of this prospectus, we have no reason to believe that this lease agreement will not be renewed
upon the expiration of the current term. We believe our office space is adequate for the time being. However, there may be a need to
secure additional office space in the future, should it serve our requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Employees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The tables below provide a breakdown
of our employees by type and function as of November&nbsp;30, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Full-time</FONT></TD>
    <TD STYLE="width: 52%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Part-time
    </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Number
    of employees</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">36</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">3</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Administration
    </FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Finance
    </FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Human
    resources</FONT></TD>
    <TD STYLE="width: 232px; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Logistics
    </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Number
    of employees</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">3</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">1</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">1</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">34</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition, as of the date of this prospectus, we have approximately
[33] full-time and [3] part-time employees, including [26] drivers. We
believe the attraction, development and retention of skilled employees contribute to our long-term success. To attract talent, we offer
market-aligned wages, allow employees certain degree of flexibility in work shifts to accommodate personal needs, and provide incentives
for new hires and current employees who refer qualified candidates with appropriate skills.</FONT> In addition to cash compensation,
we offer complementary benefits, including performance-based bonuses, short-term disability insurance, unemployment insurance as well
as medical insurance, and 401k retirement plans for select employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We recruit and select employees based on certain
key criteria, mainly including (i)&nbsp;relevant previous experience in package delivery, courier services, or logistics, and familiarity
with last-mile delivery operations or routes in a similar service area, (ii)&nbsp;technical skills and proficiency in using GPS devices,
route optimization software, and mobile delivery apps, and basic understanding of vehicle maintenance, (iii)&nbsp;a clean and verifiable
driving record, free of major infractions such as driving under the influence or reckless driving, and the possession of a valid driver&rsquo;s
license appropriate for the type of delivery vehicle, and (iv)&nbsp;safety awareness, assessed by whether there is commitment to adhering
to all traffic and workplace safety regulations, and participation in safety training programs or certifications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To enhance our workforce excellence, we provide
comprehensive onboarding training for new drivers, focusing on route optimization, safety protocols, and customer service. Promotions
and pay raises are awarded based on performance milestones. Our training programs are designed in accordance with the FedEx issued safety
guide. Our station managers and experienced drivers take turns conducting in-person training sessions for new drivers. Additionally,
new drivers must complete online training and pass assessments on GroundCloud. We are committed to fostering a strong culture of safety.
Prior to each driver commencing their deliveries, they must successfully complete multiple tests and assessments to ensure they meet
our rigorous standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There is no collective bargaining agreement that
covers our employees. As of the date of this prospectus, we have not experienced any interruptions of operations or work stoppages&nbsp;due
to labor disagreements or disputes. We strive to maintain positive labor relations through open communication and proactive conflict
resolution measures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Material Contracts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September&nbsp;16, 2024, we entered into a
consulting agreement with WJ Management Inc (&ldquo;WJ&rdquo;), a pickup and delivery service provider to FedEx. WJ agreed to serve as
an independent contractor to our Company and provide advice, consulting and guidance to assist in operating our operating entity&rsquo;s
business. The compensation for such consulting service will be calculated based on the revenue and operating results of our operating
entity. The term of the agreement commenced on October&nbsp;26, 2024 and will continue for one year. The term will automatically renew
for one additional year, unless either party notifies the other party of non-renewal within three months of the expiration of the current
term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
January&nbsp;18, 2025, we entered into a stock purchase agreement with Wandun Enterprise Inc (&ldquo;Wandun&rdquo;), a pickup and delivery
service provider to FedEx, and all stockholders of Wandun, </FONT>and an amendment No. 1 to such stock purchase agreement on February
7, 2025, to acquire the 100% equity interest in Wandun from all stockholders of Wandun, for a consideration of $4.3 million, to be paid
after February 7, 2026. On January&nbsp;18, 2025, we entered into a stock purchase agreement with WJ and all stockholders of WJ, and
an amendment No. 1 to such stock purchase agreement on February 7, 2025, to acquire the 100% equity interest in WJ from all stockholders
of WJ, for a consideration of $1.65 million, to be paid after February 7, 2026. On January&nbsp;18, 2025, we entered into two business
operation agreements, and amendments No. 1 to such business operation agreements on February 7, 2025, to entrust Wandun&rsquo;s business
operation and WJ&rsquo;s business operation to WJ for one year commencing from February 8, 2025, and we agreed to pay all the expenses
incurred by operating Wandun&rsquo;s business and WJ&rsquo;s business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Within the preceding two years from the date
of this prospectus, we have entered into no material contracts, excluding the contracts entered into in the ordinary course of our business,
other than as described in this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Insurance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We maintain certain insurance policies to safeguard
against risks and unexpected events. For example, we have non-trucking liability insurance, workers compensation, and employment practices
liability insurance, with each insurance coverage category being subject to limitations as provided by the insurance policies. We believe
our current insurance coverage is adequate for our business requirements and is consistent with customary industry practice. We renegotiate
and renew our insurance contracts annually. We do not anticipate any difficulty in renewing contracts we currently maintain on the same
terms. We also plan to purchase the directors&rsquo; and officers&rsquo; liability insurance upon the completion of our initial public
offering. For the reporting period from December 1, 2022, to November 30, 2024, we did not make any material insurance claims in relation
to our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Seasonality</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
business is generally subject to seasonal fluctuations. We usually generate more revenue </FONT>in October&nbsp;and from mid-November&nbsp;to
late December&nbsp;each year. We believe that such seasonality is mainly because our customer has higher service demands during the holiday
seasons. Historically, the revenue generated during our peak seasons are estimated to account for approximately 10% to 12% of the annual
revenue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Legal Proceedings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From time to time, we may become a party to various
legal or administrative proceedings arising in the ordinary course of our business, including actions with respect to intellectual property
infringement, breach of contract, and labor and employment claims. We are currently not a party to any material lawsuits, and we are
not aware of any threats of lawsuits against us that are anticipated to have a major impact on our business. Litigation or any other
legal or administrative proceeding, regardless of the outcome, is likely to result in substantial cost and diversion of resources, including
the management&rsquo;s time and attention.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Corporate History and Structure</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with this offering, we have conducted
the following corporate restructuring steps:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            May&nbsp;27, 2020, JAR Transportation Inc was incorporated under the laws of the State of
                                            California as a general stock corporation;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            April&nbsp;3, 2024, our holding company, Elite Express Holding Inc., was incorporated under
                                            the laws of the State of Delaware as a corporation;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October
    25, 2024</FONT><FONT STYLE="font-size: 10pt">, Elite Express Holding Inc. completed the acquisition of the 100% equity interest in
    JAR Transportation Inc; and</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            December&nbsp;19, 2024, our stockholders and board of directors approved to effect a reverse
                                            stock split with respect to the issued and outstanding shares of both our Class&nbsp;A common
                                            stock and Class&nbsp;B common stock, in each case at a ratio of one for six, such that every
                                            holder of Class&nbsp;A common stock shall receive one share of Class&nbsp;A common stock
                                            for every six shares of Class&nbsp;A common stock held, and every holder of Class&nbsp;B
                                            common stock shall receive one share of Class&nbsp;B common stock for every six shares of
                                            Class&nbsp;B common stock held. Unless the context suggests otherwise, all references to
                                            our Class&nbsp;A common stock and Class&nbsp;B common stock in the registration statement
                                            of which this prospectus forms a part take into account the effect of such reverse stock
                                            split.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following diagram illustrates our corporate
structure as of the date of this prospectus. For details of our principal stockholders&rsquo; ownership, please refer to the beneficial
ownership table in the section captioned &ldquo;Principal Stockholders.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;<IMG SRC="tm254980d1_drssp3img001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notes: All percentages reflect the voting ownership
interests instead of the equity interests held by each of our stockholders given that each holder of shares of Class&nbsp;A common stock
will be entitled to one vote per share and each holder of shares of Class&nbsp;B common stock will be entitled to 15 votes per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Represents 1,666,667 shares of Common
                                            B common stock held by Yidan Chen, our Chief Executive Officer and Director, as of the date
                                            of this prospectus.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">Represents 2,500,000 shares of Common
                                            B common stock held by Huan Liu, our Chairman of the Board of Directors, as of the date of
                                            this prospectus.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">Represents an aggregate of 8,750,005
                                            shares of Class&nbsp;A common stock held by 14 corporate and individual stockholders, each
                                            one of which holds less than 5% of our voting ownership interests, as of the date of this
                                            prospectus.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Regulations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><U>Regulations related
to transportation and safety</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
transportation of packages is subject to regulation by the Department of Transportation (&ldquo;DOT&rdquo;) and its agenc</FONT>ies,
including the Federal Motor Carrier Safety Administration (the &ldquo;FMCSA&rdquo;), the Federal Highway Administration, and the National
Highway Traffic Safety Administration, which collectively regulate our delivery business through the regulation of operations, safety,
insurance and hazardous materials. Ground transportation also falls under state jurisdiction with respect to the regulation of operations,
safety and insurance. Our ground transportation of hazardous materials in the U.S. is subject to regulation by the DOT&rsquo;s Pipeline
and Hazardous Materials Safety Administration. We also must comply with safety and fitness regulations promulgated by the FMCSA, including
those relating to drug and alcohol testing and hours of service for drivers. Such matters as weight and dimension of equipment also fall
under federal and state regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><U>Regulations related
to data privacy</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are subject to laws and regulations relating
to privacy and data protection. For example, the California Consumer Privacy Act of 2018, which came into effect in January&nbsp;of 2020,
gives California residents data privacy rights, including allowing consumers to opt out of certain data sharing with third parties, and
provides an additional cause of action for data breaches. Moreover, the California Privacy Rights Act, which went into effect on January&nbsp;1,
2023, significantly modified the California Consumer Privacy Act of 2018, and imposed additional data privacy and protection obligations
on certain companies doing business in California.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><U>Regulations related
to environmental protection</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are subject to federal, state and local environmental
laws and regulations across our operations. These laws and regulations cover a variety of matters such as disclosures, operations and
processes, including, but not limited to: properly storing, handling and disposing of waste materials; complying with laws regarding
clean air, including those governing emissions; protecting against and appropriately responding to spills and releases and communicating
the presence of reportable quantities of hazardous materials to local responders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="s_001"></A>MANAGEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Set forth below is information concerning our directors, director
appointees, and executive officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 10%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Age</B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 61%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Position(s)</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yidan Chen </FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer, President, and Director</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Robert Cook</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">69</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Financial Officer</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Huan Liu</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
    and Chairman of the Board of Directors </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adam Eilenberg</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">68</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent
    Director Appointee*</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Francis A. Braun III </FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">64</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent
    Director Appointee*</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ninoslav Vasic</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">49</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent
    Director Appointee*</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adam Eilenberg, Francis
    A. Braun III, and Ninoslav Vasic have accepted appointments to be our directors, effective immediately prior to the effectiveness
    of our registration statement of which this prospectus is a part.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is a brief biography of each of
our executive officers, directors, and director appointees:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Ms.&nbsp;Yidan
Chen</I></FONT> has served as our Chief Executive Officer, President, and Director since January&nbsp;2025. She is a U.S. citizen with
over 25 years of experience in investment management and executive leadership, dedicated to exploring and expanding business opportunities
between China and the United States. As the founder and manager of SYC Properties LLC since January&nbsp;2019, Ms.&nbsp;Chen has been
responsible for the management of overall business operations, including strategy development, financial oversight, and operational execution.
From January&nbsp;2019 to September&nbsp;2022, Ms.&nbsp;Chen served as an assistant to the president at Princeton LL Actuarial Consulting
LLC, where she was responsible for providing strategic support to the President in business operations, client relations, and project
management, coordinating cross-functional teams, and analyzing operational data to identify opportunities for efficiency improvements.
From October&nbsp;2010 to January&nbsp;2019, Ms.&nbsp;Chen served as the chairman of the board at Beijing Langchen Architectural Decoration
Engineering Co. Ltd., and was responsible for managing an architectural decoration firm, spearheading construction projects, and building
and maintaining long-term client relationships. From August&nbsp;1997 to October&nbsp; 2010, Ms.&nbsp;Chen served as the vice general
manager at Beijing Mason Investment Co.,&nbsp;Ltd., and was responsible for directing strategic investment initiatives, overseeing financial
planning and operational management for high-value projects, supervising employees, and establishing strong partnerships with stakeholders.
Ms.&nbsp;Chen received her bachelor&rsquo;s degree in Horticulture from Southwest Agricultural University in 1993. We believe Ms.&nbsp;Chen
has the requisite qualifications to serve as our Director because of her vast experience in managing companies and her unique vision
in seeking investment opportunities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Mr.&nbsp;Robert
Cook</I></FONT> has served as our Chief Financial Officer since November&nbsp;2024, and he has extensive experience in corporate finance,
SEC reporting, public accounting, investor relations, and corporate administration including management of internal controls. Mr.&nbsp;Cook
has served as the principal of RWC Consulting, LLC since February&nbsp;2020, a financial consulting company established in December&nbsp;2016,
where he is responsible for advising management and boards of directors of public and private companies on pre- and post-IPO financing
opportunities. From October&nbsp;2022 to August&nbsp;2024, Mr.&nbsp;Cook served as the Chief Financial Officer of Cheetah Net Supply
Chain Services Inc. (Nasdaq: CTNT, &ldquo;Cheetah Net&rdquo;), where he was responsible for all financial functions. From June&nbsp;2020
to April&nbsp;2021, Mr.&nbsp;Cook served as the chief financial officer of RenovaCare,&nbsp;Inc. (OTC: RCAR), where he was responsible
for all financial functions, investor and public relations, and corporate administration. From February&nbsp;2017 to February&nbsp;2020,
Mr.&nbsp;Cook served as the chief financial officer at CorMedix Inc. (Nasdaq: CRMD) and was in charge of the company&rsquo;s overall
financial management, investor and public relations, and business development. Mr.&nbsp;Cook received his bachelor&rsquo;s degree in
International Finance from Kogod School of Business of the American University in 1977.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Mr.&nbsp;Huan
Liu</I></FONT> has served as our Director and Chairman of the Board of Directors since June&nbsp;2024. As the founder and CEO of Cheetah
Net, Mr.&nbsp;Liu has been responsible for the management of day-to-day operations and high-level strategizing and business planning,
as well as implementing proposed plans and evaluating the success of the company in achieving its objectives since 2016. From 2014 to
2015, as the founder and chief executive officer at Xinyongjia LLC., he was responsible for developing the business intelligence tool
for tracking and managing business spending reports. From 2012 to 2013, Mr.&nbsp;Liu served as the senior investment manager at Beijing
Wanze Investment Management Co. Ltd. and was responsible for leading the asset team with accountability for business planning, valuation
and optimizing net operating income to drive investment returns, developing investment strategies and managing end-to-end investment
process, and evaluating and implementing initiatives to drive investment performance. Mr.&nbsp;Liu received his master&rsquo;s degree
in Finance from the International Business School at Brandeis University in 2012, and his bachelor&rsquo;s degree in Finance and Law
from Harbin Engineering University in 2005. We believe Mr.&nbsp;Liu has the requisite qualifications to serve as our Director because
he has extensive experience in business development, investor relations, and corporate administration, including management of internal
controls.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Mr.&nbsp;Adam
Eilenberg</I></FONT> will serve as our Independent Director from the date of the effectiveness of the registration statement on Form&nbsp;S-1
of which this prospectus is a part. As the managing partner and lawyer at Eilenberg&nbsp;&amp; Krause LLP since 1997, Mr.&nbsp;Eilenberg
has been responsible for managing the law firm and practicing in corporate and securities law. From July&nbsp;2023 to December&nbsp;2024,
Mr.&nbsp;Eilenberg served as an independent director of Cheetah Net. Mr.&nbsp;Eilenberg received his Juris Doctor degree from Harvard
Law School in 1980, and his bachelor&rsquo;s degree in Economics and History from Hamilton College in 1977. We believe Mr.&nbsp;Eilenberg
has the requisite qualifications to serve as our Director because he has extensive experience in corporate and securities law practice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Mr.&nbsp;Francis
A. Braun III </I></FONT> will serve as our Independent Director from the date of the effectiveness of the registration statement on Form&nbsp;S-1
of which this prospectus is a part. Mr.&nbsp;Braun has served as a director at Crown Bank since October&nbsp;2024. As the proprietor
of Francis A. Braun III since April&nbsp;2024, Mr.&nbsp;Braun has provided financial consulting services. As a member of the advisory
council at CrossCountry Consulting since February&nbsp;2024, Mr.&nbsp;Braun has been responsible for proving consulting and advisory
services. Mr.&nbsp;Braun has served as the director and treasurer at Wellington Place II at Kensington Condominium Association. From
December&nbsp;2016 to July&nbsp;2023, Mr.&nbsp;Braun served as a partner at Grant Thronton LLP, where he supervised the auditing of the
financial statements of public and private companies. Mr.&nbsp;Braun received his bachelor&rsquo;s degree in Accounting from Rider University
in 1983. We believe Mr.&nbsp;Braun has the requisite qualifications to serve as our Director because of his extensive experience in finance,
accounting and corporate governance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Mr.&nbsp;Ninoslav
Vasic</I></FONT> will serve as our Independent Director from the date of the effectiveness of the registration statement on Form&nbsp;S-1
of which this prospectus is a part. As the chief executive officer at Golden Consultancy Inc. since August&nbsp;2017, Mr.&nbsp;Vasic
has been responsible for project management, financial planning and analysis, business process management, financial management and strategy
development. As the head of innovation and development at Credit Agricole Banking Group, Mr.&nbsp;Vasic was responsible for managing
various departments including cash management, trade finance card business and product department. Mr.&nbsp;Vasic received his Master
of Business Administration from Cotrugli Business Chool in 2012, and his bachelor&rsquo;s degree in Economics from University of Belgrade
in 2004. We believe Mr.&nbsp;Vasic has the requisite qualifications to serve as our Director because he has extensive experience in project
management, business strategy and financial management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Family Relationships</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">There is no family relationship
among any directors, executive officers, or persons nominated to become directors or executive officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Involvement in Certain Legal Proceedings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the best of our knowledge, none of our directors,
director appointees, or executive officers have, during the past 10 years, been involved in any legal proceedings described in subparagraph
(f)&nbsp;of Item 401 of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Controlled Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
completion of this offering, </FONT>Huan Liu, our Chairman of the Board of Directors, is expected to collectively own approximately [<FONT STYLE="font-family: Symbol">&middot;</FONT>]%
of the aggregate voting power of our outstanding shares of Class&nbsp;A common stock and Class&nbsp;B common stock and thus have the
ability to determine all matters requiring approval by our stockholders. As a result, we may be a &ldquo;controlled company&rdquo; within
the meaning of the Nasdaq listing rules. If we are a controlled company, we are permitted to elect to rely on certain exemptions from
the obligations to comply with certain corporate governance requirements, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the
                                            requirement that a majority of the board of directors consist of independent directors;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the
                                            requirement that our director nominees be selected or recommended solely by independent directors;
                                            and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the
                                            requirement that we have a nominating and corporate governance committee and a compensation
                                            committee that are composed entirely of independent directors with a written charter addressing
                                            the purposes and responsibilities of the committees.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Although
we do not intend to rely on the controlled company exemptions under the Nasdaq listing rules&nbsp;even though we are deemed a controlled
company, we could elect to rely on these exemptions in the future, and if so, you would not have the same protection afforded to stockholders
of companies that are subject to all of the corporate governance requirements of Nasdaq.</FONT> See &ldquo;Risk Factors&mdash;We will
be a &lsquo;controlled company&rsquo; within the meaning of the Nasdaq listing rules, and may follow certain exemptions from certain
corporate governance requirements that could adversely affect our public stockholders.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Board of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our board of directors will consist of five directors
upon the date of the effectiveness of our registration statement on Form&nbsp;S-1 of which this prospectus is a part, three of whom will
be &ldquo;independent&rdquo; within the meaning of the corporate governance standards of the Nasdaq listing rules&nbsp;and will meet
the criteria for independence set forth in Rule&nbsp;10A-3 of the Exchange&nbsp;Act&nbsp;.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Leadership Structure and Risk Oversight</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our board of directors actively manages the Company&rsquo;s
risk oversight process and receives periodic reports from management on areas of material risk to the Company, including operational,
financial, legal, and regulatory risks. The audit committee will assist the board of directors with its oversight of the Company&rsquo;s
major financial risk exposures. While an audit committee will be responsible for evaluating certain risks and overseeing the management
of those risks, the entire board of directors will continue to be regularly informed about the risks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Committees of the Board of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
</FONT>will establish three committees under the board of directors: an audit committee, a compensation committee, and a nominating and
corporate governance committee upon the date of the effectiveness of our registration statement on Form&nbsp;S-1 of which this prospectus
is a part. Our independent directors will serve on each of the committees. We will adopt a charter for each of the three committees.
Each committee&rsquo;s members and functions are described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Audit Committee</I>. Our audit committee will
consist of Adam Eilenberg, Francis A. Braun III, and Ninoslav Vasic. Ninoslav Vasic will be the chairperson of our audit committee. We
have determined that Adam Eilenberg, and Francis A. Braun III, and Ninoslav Vasic will satisfy the &ldquo;independence&rdquo; requirements
of the Nasdaq listing rules&nbsp;under and Rule&nbsp;10A-3 under the Exchange Act. Our board of directors has also determined that Francis
A. Braun III qualifies as an audit committee financial expert within the meaning of the SEC rules&nbsp;or possesses financial sophistication
within the meaning of the Nasdaq listing rules. The audit committee will oversee our accounting and financial reporting processes and
the audits of the financial statements of our company. The audit committee will be responsible for, among other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">appointing the independent
    auditors and pre-approving all auditing and non-auditing services permitted to be performed by the independent auditors;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing with the independent
    auditors any audit problems or difficulties and management&rsquo;s response;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">discussing the annual audited
    financial statements with management and the independent auditors;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing the adequacy
    and effectiveness of our accounting and internal control policies and procedures and any steps taken to monitor and control major
    financial risk exposures;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing and approving
    all proposed related party transactions;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">meeting separately and
    periodically with management and the independent auditors; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">monitoring compliance with
    our code of business conduct and ethics, including reviewing the adequacy and effectiveness of our procedures to ensure proper compliance.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Compensation
Committee</I></FONT>. Our compensation committee will consist of Adam Eilenberg, Francis A. Braun III, and Ninoslav Vasic. Francis A.
Braun III will be the chairperson of our compensation committee. We have determined that Adam Eilenberg, Francis A. Braun III, and Ninoslav
Vasic will satisfy the &ldquo;independence&rdquo; requirements of the Nasdaq listing rules&nbsp;and Rule&nbsp;10C-1 under the Exchange
Act. The compensation committee will assist the board in reviewing and approving the compensation structure, including all forms of compensation,
relating to our directors and executive officers. Our chief executive officer may not be present at any committee meeting during which
his compensation is deliberated. The compensation committee will be responsible for, among other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing and approving
    the total compensation package for our most senior executive officers;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">approving and overseeing the total compensation
    package for our executives other than the most senior executive officers;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing and recommending
    to the board with respect to the compensation of our directors;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing periodically
    and approving any long-term incentive compensation or equity plans;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">selecting compensation consultants, legal
    counsel or other advisors after taking into consideration all factors relevant to that person&rsquo;s independence from management;
    and</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing programs or similar
    arrangements, annual bonuses, employee pension, and welfare benefit plans.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Nominating
and Corporate Governance Committee</I></FONT>. Our nominating and corporate governance committee will consist of Adam Eilenberg, Francis
A. Braun III, and Ninoslav Vasic. Adam Eilenberg will be the chairperson of our nominating and corporate governance committee. We have
determined that Adam Eilenberg, Francis A. Braun III, and Ninoslav Vasic will satisfy the &ldquo;independence&rdquo; requirements of
the Nasdaq listing rules. The nominating and corporate governance committee will assist the board of directors in selecting individuals
qualified to become our directors and in determining the composition of the board and its committees. The nominating and corporate governance
committee will be responsible for, among other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">identifying and recommending nominees for
    election or re-election to our board of directors or for appointment to fill any vacancy;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">reviewing annually with our board of directors
    its current composition in light of the characteristics of independence, age, skills, experience and availability of service to us;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">identifying and recommending
    to our board of the directors the directors to serve as members of committees;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">advising the board periodically with respect
    to significant developments in the law and practice of corporate governance as well as our compliance with applicable laws and regulations,
    and making recommendations to our board of directors on all matters of corporate governance and on any corrective action to be taken;
    and</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">monitoring compliance with our code of business
    conduct and ethics, including reviewing the adequacy and effectiveness of our procedures to ensure proper compliance.</P></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Code of Business Conduct and Ethics</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our board of directors will adopt a code of business
conduct and ethics, which is to be filed as Exhibit&nbsp;14.1 of this registration statement of which this prospectus forms a part and
applicable to all of our directors, officers, and employees. We will make our code of business conduct and ethics publicly available
on our website prior to the closing of this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="s_002"></A><B>EXECUTIVE AND DIRECTOR
COMPENSATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table sets forth, for the period
from October 26, 2024 to November 30, 2024 (Successor), the dollar value of all cash and noncash compensation earned by or paid to our
directors and executive officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Summary Compensation Table</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name&nbsp;<BR>
    and&nbsp;<BR>
    Principal<BR>
    Position</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Year<SUP>(1)</SUP>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Salary&nbsp;<BR>
    ($)&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Bonus&nbsp;<BR>
    ($)&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Stock&nbsp;<BR>
    Awards&nbsp;<BR>
    ($)&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Option<BR>
    Awards<BR>
    ($)&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Non-Equity<BR>
    Incentive<BR>
    Plane<BR>
    Compensation<BR>
    ($)&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Non-Qualified<BR>
    Deferred<BR>
    Compensation<BR>
    Earnings&nbsp;<BR>
    ($)&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>All
    Other<BR>
    Compensation<BR>
    ($)<SUP>(2)</SUP></B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Totals<BR>
    ($)&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 16%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shenrui Yin, Chief Executive Officer
    and Director<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2024</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: right">&nbsp;&nbsp; &nbsp; 0</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Robert Cook, Chief Financial
    Officer</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2024</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">Huan Liu, Director</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2024</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compensation calculated for the period from October
    26, 2024 to November 30, 2024.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shenrui Yin stepped down as our Chief Executive Officer
    and Director, and Yidan Chen was appointed to these roles on January 7, 2025.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Employment Agreements with Our Named Executive Officers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have entered into employment agreements with
Yidan Chen, our Chief Executive Officer and Robert Cook, our Chief Financial Officer. A summary of the terms of each of these employment
agreements is set forth below. Currently, the annual compensation of each of the executive officers is fixed by the board of directors.
The named executive officers are also entitled to participate in the Company&rsquo;s benefit plans, which such benefits are generally
available to all full-time employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Employment Agreement with Yidan Chen</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
January&nbsp;7, 2025, we entered into an employment agreement with Yidan Chen. Pursuant to her employment agreement, effective January&nbsp;7,
2025, Ms.&nbsp;Chen will serve as the Chief Executive Officer of our Company for an employment term of three years, responsible for overseeing
the operations of all divisions in our Company. As consideration for her services, Ms.&nbsp;Chen is entitled to a base salary of $60,000
</FONT>per year. The agreement will automatically renew unless terminated by either party. The agreement may be terminated upon mutual
written consent of Ms.&nbsp;Chen and our Company. Ms.&nbsp;Chen may terminate the agreement (a)&nbsp;upon prior written notice to our
Company or (b)&nbsp;immediately if Ms.&nbsp;Chen is subject to materially diminished duties or responsibilities, provided that the retention
of a replacement CEO by our Company shall not constitute diminished duties or responsibilities. We may terminate the agreement (i)&nbsp;without
prior notice and without further obligation for reasons of just cause, such as fraud, theft, conviction of a felony, improper or dishonest
action, or significant acts of misconduct, on the part of Ms.&nbsp;Chen or any of her agents providing services to our Company, and (ii)&nbsp;without
just cause upon seven days&rsquo; written notice to Ms.&nbsp;Chen.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Employment Agreement with Robert Cook</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
November&nbsp;1, 2024, we entered into an employment agreement with Robert Cook. Pursuant to his employment agreement, Mr.&nbsp;Cook
will serve as the Chief Financial Officer of our Company, effective November&nbsp;1, 2024, responsible for the Company&rsquo;s overall
financial management, tax compliance, and accounting related matters. As consideration for his services, Mr.&nbsp;Cook is entitled to
(i)&nbsp;a salary based on an hourly rate of $225 per hour prior to the completion of this offering; and (ii)&nbsp;a base salary of $150,000
per year upon the successful completion of this offering, plus additional bonuses payable to Mr.&nbsp;Cook</FONT> after the completion
of this offering. This employee agreement is &ldquo;at will,&rdquo; namely, both Mr.&nbsp;Cook and the Company have the right to terminate
his employment at any time for any reason. In the event that either party wishes to terminate Mr.&nbsp;Cook&rsquo;s employment with the
Company, the party initiating the termination shall provide the other party with two weeks&rsquo; written notice in advance. Mr.&nbsp;Cook
further agrees and acknowledges that any bonus payable to him will be made, if any, at the sole discretion of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Outstanding Equity Awards at the Fiscal Year-End</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our named executive officers do not hold any equity awards as of the
date of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Equity Incentive Plans</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date of this prospectus, we do not
have any equity incentive plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Compensation of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our Company has not yet implemented a formal compensation plan for
our directors but plans to do so prior to the completion of this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Offer Letter to Our Director</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have entered certain director offer letter</FONT>s with our directors, Yidan Chen, Huan Liu, Francis A. Braun III, Ninoslav Vasic,
and Adam Eilenberg. A summary of the terms of the offer letters are set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Offer Letter to Yidan Chen</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition to the employment agreement with Yidan Chen mentioned above, we also issued an offer letter to </FONT>her on January 7, 2025.
Under the terms of the offer letter, Ms.&nbsp;Chen is entitled to,&nbsp;to the maximum extent, provided under applicable law, indemnification
against any expenses, including reasonable attorney&rsquo;s fees, judgments, fines, settlements, and other legally permissible amounts,
incurred in connection with any proceeding arising out of or related to Ms.&nbsp;Chen&rsquo;s performance of her duties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Offer Letter to Huan Liu</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the offer letter between us and Huan
Liu, dated June&nbsp;29, 2024, Mr.&nbsp;Liu is entitled to (i)&nbsp;cash compensation of US$100,000 per year, starting on the date of
effectiveness of our registration statement on Form&nbsp;S-1 of which this prospectus is a part; and (ii)&nbsp;to the maximum extent
provided under applicable law, indemnification against any expenses, including reasonable attorney&rsquo;s fees, judgments, fines, settlements,
and other legally permissible amounts, incurred in connection with any proceeding arising out of or related to Mr.&nbsp;Liu&rsquo;s performance
of his duties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Offer
Letter to </I></FONT><I>Francis A. Braun III</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to the offer letter between us and</FONT> Francis A. Braun III, dated January 23, 2025, Mr.&nbsp;Braun is entitled to (i)&nbsp;cash compensation
of US$20,000 per year, starting on the date of effectiveness of our registration statement on Form&nbsp;S-1 of which this prospectus
is a part; and (ii)&nbsp;to the maximum extent provided under applicable law, indemnification against any expenses, including reasonable
attorney&rsquo;s fees, judgments, fines, settlements, and other legally permissible amounts, incurred in connection with any proceeding
arising out of or related to Mr.&nbsp;Braun&rsquo;s performance of his duties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Offer
Letter to </I></FONT><I>Ninoslav Vasic</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to the offer letter between us and</FONT> Ninoslav Vasic, dated January 22, 2025, Mr.&nbsp;Vasic is entitled to (i)&nbsp;cash compensation
of US$20,000 per year, starting on the date of effectiveness of our registration statement on Form&nbsp;S-1 of which this prospectus
is a part; and (ii)&nbsp;to the maximum extent provided under applicable law, indemnification against any expenses, including reasonable
attorney&rsquo;s fees, judgments, fines, settlements, and other legally permissible amounts, incurred in connection with any proceeding
arising out of or related to Mr.&nbsp;Eilenberg&rsquo;s performance of his duties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Offer Letter to Adam Eilenberg</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="text-align: justify; margin: 0pt 0; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant to the offer letter between
us and</FONT> Adam Eilenberg, dated December&nbsp;10, 2024, Mr.&nbsp;Eilenberg is entitled to (i)&nbsp;cash compensation of US$20,000
per year, starting on the date of effectiveness of our registration statement on Form&nbsp;S-1 of which this prospectus is a part; and
(ii)&nbsp;to the maximum extent provided under applicable law, indemnification against any expenses, including reasonable attorney&rsquo;s
fees, judgments, fines, settlements, and other legally permissible amounts, incurred in connection with any proceeding arising out of
or related to Mr.&nbsp;Eilenberg&rsquo;s performance of his duties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Offer Letter to Yidan Chen</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to the offer letter between us and </FONT>Yidan Chen, dated January 7, 2025, Ms.&nbsp;Chen is entitled to (i)&nbsp; to the maximum extent
provided under applicable law, indemnification against any expenses, including reasonable attorney&rsquo;s fees, judgments, fines, settlements,
and other legally permissible amounts, incurred in connection with any proceeding arising out of or related to Ms.&nbsp;Chen&rsquo;s performance
of her duties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="s_003"></A>PRINCIPAL STOCKHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth information with respect to the beneficial ownership, within the meaning of Rule&nbsp;13d-3 under the Exchange
Act, of our Class&nbsp;A common stock</FONT> and Class&nbsp;B common stock as of the date of this prospectus, and as adjusted to reflect
the sale of the Class&nbsp;A common stock offered in this offering for:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">each of our directors and
    named executive officers; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">each person known to us
    to own beneficially more than 5% of our common stock.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beneficial
ownership includes voting or investment power with respect to the securities. Except as indicated below, and subject to applicable community
property laws, the persons named in the table have sole voting and investment power with respect to all common stock shown as beneficially
owned by them. Percentage of beneficial ownership of each listed person prior to this offering is based on 8,750,005 shares of Class&nbsp;A
common stock outstanding</FONT> and 4,166,667 shares of Class&nbsp;B common stock outstanding as of the date of this prospectus. Percentage
of beneficial ownership of each listed person after this offering is based on (i)&nbsp;[<FONT STYLE="font-family: Symbol">&middot;</FONT>]
shares of Class&nbsp;A common stock outstanding immediately after the completion of this offering if the underwriters do not exercise
their over-allotment option, and [<FONT STYLE="font-family: Symbol">&middot;</FONT>] shares of Class&nbsp;A common stock outstanding
immediately after the completion of this offering if the underwriters exercise their over-allotment option in full, and (ii)&nbsp;4,166,667
shares of Class&nbsp;B common stock outstanding immediately after the completion of this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Information with respect to beneficial ownership
has been furnished by each director, named executive officer, or beneficial owner of 5% or more of our Class&nbsp;A or Class&nbsp;B common
stock. Beneficial ownership is determined in accordance with the rules&nbsp;of the SEC and generally requires that such person have voting
or investment power with respect to the securities. In computing the number of shares of common stock beneficially owned by persons listed
below and the percentage ownership of such persons, shares of common stock underlying options, warrants, or convertible securities held
by each such person that are exercisable or convertible within 60 days of the date of this prospectus are outstanding, but are not outstanding
for computing the percentage ownership of any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Class&nbsp;A<BR>
    Common Stock <BR>
    Beneficially <BR>
    Owned Prior to<BR>
    this Offering</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Class&nbsp;B<BR>
    Common Stock <BR>
    Beneficially <BR>
    Owned Prior to <BR>
    this Offering</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Class&nbsp;A<BR>
    Common Stock<BR>
    Beneficially<BR>
    Owned After<BR>
    this Offering</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Class&nbsp;B<BR>
    Common Stock Beneficially<BR>
    Owned After<BR>
    this Offering</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Voting Power<BR>
    After this<BR>
    Offering*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Number</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>%</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Number</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>%</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Number</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>%</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Number</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>%</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>%</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 16%; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt"><B>Directors and Executive Officers<SUP>(1)</SUP>:</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Yidan Chen </FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,666,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">40.00</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,666,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">40.00</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Huan Liu </FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2,500,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">60.00</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2,500,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">60.00</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Robert Cook</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Adam Eilenberg</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Francis A. Braun III</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Ninoslav Vasic</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt"><B>All directors and executive officers as a group
    (six individuals):</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">4,166,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">4,166,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt"><B>5% Stockholders:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Apex Management Limited<SUP>(2)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;8.76</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Ping Capital Holdings Ltd<SUP>(3)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8.76</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Grand Bright International Holdings Limited<SUP>(4)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8.76</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Dongsheng Zhou<SUP>(5)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8.76</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Hillhouse Venture Capital Limited<SUP>(6)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8.76</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Hawkeyes Investment Ltd<SUP>(7)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8.76</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Shouqian Jiang<SUP>(8)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8.76</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Jiping Yin<SUP>(9)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8.76</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">766,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Zhaoxia Song<SUP>(10)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">516,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5.90</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">516,667</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Centurion Tech Holdings Limited<SUP>(11)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">500,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5.71</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">500,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Eternal Blessing Holdings Limited<SUP>(12)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">500,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5.71</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">500,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Unless otherwise indicated, the business address of each of the individuals
    is, 23046 Avenida De La Carlota, Suite&nbsp;600, Laguna Hills CA 92653, the United States.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The number of shares of Class&nbsp;A common stock beneficially owned
    prior to this offering represents 766,667 shares of Class&nbsp;A common stock held by Apex Management Limited, a British Virgin Islands
    company, which is 100% owned by Jianhui Li. The registered address of Apex Management Limited is Vistra Corporate Services Centre,
    Wickhams Cay II, Road Town, Tortola, VG1110, the British Virgin Islands.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The number of shares of Class&nbsp;A common stock beneficially owned
    prior to this offering represents 766,667 shares of Class&nbsp;A common stock held by Ping Capital Holdings Ltd, a British Virgin
    Islands company, which is 100% owned by Ping Hu. The registered address of Ping Capital Holdings Ltd is Vistra Corporate Services
    Centre, Wickhams Cay II, Road Town, Tortola, VG1110, the British Virgin Islands.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The number of shares of Class&nbsp;A common stock beneficially owned
    prior to this offering represents 766,667 shares of Class&nbsp;A common stock held by Grand Bright International Holdings Limited,
    a British Virgin Islands company, which is 100% owned by Weishu Guo. The registered address of Grand Bright International Holdings
    Limited is Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, VG1110, the British Virgin Islands.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The address of Dongsheng Zhou is NO.5 Yulin Road, Hai&rsquo;an City,
    Jiangsu Province, China.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(6)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The number of shares of Class&nbsp;A common stock beneficially owned
    prior to this offering represents 766,667 shares of Class&nbsp;A common stock held by Hillhouse Venture Capital Limited, a British
    Virgin Islands company, which is 100% owned by Shuqin Ma. The registered address of Hillhouse Venture Capital Limited is Vistra Corporate
    Services Centre, Wickhams Cay II, Road Town, Tortola, VG1110, the British Virgin Islands.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(7)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The number of shares of Class&nbsp;A common stock beneficially owned
    prior to this offering represents 766,667 shares of Class&nbsp;A common stock held by Hawkeyes Investment Ltd, a British Virgin Islands
    company, which is 100% owned by Qingyu Han. The registered address of Hawkeyes Investment Ltd is Vistra Corporate Services Centre,
    Wickhams Cay II, Road Town, Tortola, VG1110, the British Virgin Islands.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(8)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The address of Shouqian Jiang is No.57 Jianmin Street, Chengde city,
    Hebei province, China.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(9)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The address of Jiping Yin is 17 Eeqiao Village, Huhhot city,&nbsp;Inner
    Mongolia, China.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(10)</FONT></TD>
    <TD STYLE="text-align: justify">The address of Zhaoxia Song is NANYUAN XINCUN GONGYUAN 14HAO 3 CHUANG 501SHI, Jianye District, Nanjing
    City, Jiangsu Province, China.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(11)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The number of shares of Class&nbsp;A common stock beneficially owned
    prior to this offering represents 500,000 shares of Class&nbsp;A common stock held by Centurion Tech Holdings Limited, a British
    Virgin Islands company, which is 100% owned by Ruiping Yin. The registered address of Centurion Tech Holdings Limited is Craigmuir
    Chambers, Road Town, Tortola, VG 1110, British Virgin Islands.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(12)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The number of shares of Class&nbsp;A common stock beneficially owned
    prior to this offering represents 500,000 shares of Class&nbsp;A common stock held by Eternal Blessing Holdings Limited, a British
    Virgin Islands company, which is 100% owned by Haiying Wen. The registered address of Eternal Blessing Holdings Limited is Craigmuir
    Chambers, Road Town, Tortola, VG 1110, British Virgin Islands.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are not aware of any arrangement that may,
at a subsequent date, result in a change of control of our Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="s_004"></A><B>RELATED PARTY TRANSACTIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Material Transactions with Related Parties</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The relationship and the nature of related party
transactions are summarized as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 26%; border-bottom: black 1pt solid; padding-bottom: 2.25pt"><FONT STYLE="font-size: 10pt"><B>Name
    of related parties</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-bottom: 2.25pt">&nbsp;</TD>
    <TD STYLE="width: 73%; border-bottom: black 1pt solid; padding-bottom: 2.25pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Relationship
    with the Company</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Raymond June</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Former President and former stockholder of JAR</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 2.25pt; text-align: left"><FONT STYLE="font-size: 10pt">Huan Liu</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 2.25pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.25pt; text-align: justify"><FONT STYLE="font-size: 10pt">Chairman of the Board of Directors</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: top; padding-bottom: 2.25pt"><FONT STYLE="font-size: 10pt">Centurion Tech Holdings Limited</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-bottom: 2.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.25pt; text-align: justify"><FONT STYLE="font-size: 10pt">Stockholder</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: top; padding-bottom: 2.25pt"><FONT STYLE="font-size: 10pt">Eternal Blessing Holdings
    Limited</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-bottom: 2.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.25pt; text-align: justify"><FONT STYLE="font-size: 10pt">Stockholder</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Due to Related Parties</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Amount due to a related party represents funds
borrowed from the Company&rsquo;s Chairman of the Board of Directors, Mr.&nbsp;Huan Liu, to support investing activities, specifically
for ETS&rsquo;s acquisition of JAR. These payables are unsecured, non-interest bearing, and due on demand. During the period from October
26, 2024 through November 30, 2024 (Successor), the Company borrowed an aggregate of $100,088 from Mr.&nbsp;Huan Liu directly or through
his third-party business contacts. The Company also made repayments to Mr.&nbsp;Huan Liu in the amount of $71,050. As a result of these
transactions, the balance due to Mr.&nbsp;Huan Liu was $29,038 as of November&nbsp;30, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In February 2025, the Company secured two separate
$2.0 million revolving credit facilities from our major stockholders Centurion Tech Holdings Limited and Eternal Blessing Holdings Limited,
providing a total liquidity buffer of $4.0 million. These facilities carry a 12% annual interest rate, require quarterly interest payments,
and full principal repayment due at the end of the 24-months term and offer a flexible extension option for an additional 12 months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Stockholder Loan for Litigation Settlement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 20, 2023, JAR entered into a secured
loan agreement with Mr. Raymond June, a stockholder of JAR for a principal amount of $166,847, with an annual interest rate of 7.0%.
The loan is secured by JAR&rsquo;s property and equipment and accounts receivable, and required 60 monthly payments of $3,303.77, beginning
December 20, 2023. The loan was used to fund the settlement of a class-action lawsuit (see Note 12- <I>Commitments and Contingencies
</I>to our consolidated financial statements included elsewhere in this Report).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the period from December 1, 2023 through
October 25, 2024 (Predecessor), JAR made loan repayments of $33,038, including principal and interests of $23,904 and $9,134 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 22, 2024, the Company and JAR entered
into a second amended stock purchase agreement, establishing October 25, 2024, as the effective acquisition date. In accordance with
the agreement, previous JAR&rsquo;s owner fully repaid the remaining balance of the stockholder loan prior to the closing of the transaction
in November 2024. As a result, no balances remained outstanding as of November 30, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Employment Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
</FONT>&ldquo;Executive and Director Compensation&mdash;Employment Agreements with Our Named Executive Officers.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="s_005"></A>DESCRIPTION OF SHARE CAPITAL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following description of our share capital
is a summary only and not meant to be complete, but is subject to and qualified in its entirety by our certificate of incorporation and
bylaws, as amended from time to time, and by the provisions of the applicable Delaware law. Reference is made to our certificate of incorporation,
copies of which are filed as an exhibit to the registration statement of which this prospectus is a part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under our certificate of incorporation, we are
authorized to issue up to 1,005,000,000 shares of with par value $0.000001 per share, of which 1,000,000,000 are designated as common
stock (including 900,000,000 shares of Class&nbsp;A common stock with one vote per share and 100,000,000 shares of Class&nbsp;B common
stock with 15 votes per share and convertible into Class&nbsp;A on a one-to-one basis), and 5,000,000 are designed as preferred stock.
As of the date of this prospectus, there are 12,916,672 shares of common stock issued and outstanding, including 8,750,005 shares of
Class&nbsp;A common stock and 4,166,667 shares of Class&nbsp;B common stock. All of the outstanding shares of common stock are validly
issued, fully paid, and non-assessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Governing
                                            Documents</I>. Holders of shares of our common stock have the rights set forth in our certificate
                                            of incorporation and bylaws, and applicable Delaware law;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Dividend
                                            Rights and Distributions.</I>&nbsp;The holders of our common stock are entitled to share
                                            equally in dividends, if any, as may be declared from time to time by the board of directors
                                            out of funds legally available for that purpose;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Conversion
                                            Rights</I>.&nbsp;Our Class&nbsp;A common stock is not convertible into any other shares of
                                            our capital stock. The shares of Class&nbsp;B common stock are convertible into shares of
                                            Class&nbsp;A common stock at any time after issuance at the option of the holder on a one-to-one
                                            basis;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Voting
                                            Rights</I>.&nbsp;Each holder of our Class&nbsp;A common stock is entitled to one vote per
                                            share, and each holder of our Class&nbsp;B common stock is entitled to 15 votes per share
                                            on all matters to be voted upon by stockholders. Holders of our common stock do not have
                                            cumulative voting rights.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
our certificate of incorporation, we are authorized to issue up to </FONT>5,000,000 shares of preferred stock, par value $0.000001 per
share. As of the date of this prospectus, there are no shares of preferred stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Governing
                                            Documents</I>. Holders of shares of our preferred stock have the rights set forth in our
                                            certificate of incorporation and bylaws, and applicable Delaware law;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Dividend
                                            Rights and Distributions.</I>&nbsp;The board of directors is authorized to determine the
                                            rate of dividends, if any, payable on the shares of each series, the time and manner of payment
                                            and whether or not such dividends shall be cumulative;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Ranking</I>.
                                            The board of directors is authorized to determine the amount, if any, payable upon shares
                                            of each series in the event of the voluntary or involuntary liquidation, dissolution, or
                                            winding up of the Company, and the manner and preference of such payment;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Voting
                                            Rights</I>.&nbsp;The board of directors is authorized to determine the voting rights, if
                                            any, in the shares of each series and any conditions upon the exercising of such rights;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Redemption</I>.&nbsp;The
                                            board of directors is authorized to determine whether shares of each series may be redeemed
                                            and, if so, the redemption price and the terms and conditions of redemption. The board of
                                            directors is also authorized to determine the sinking fund provisions, if any, for the redemption
                                            or purchase of shares of each series which is redeemable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Warrants and Options</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have not issued any warrants to purchase or
options exercisable for our capital stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Certificate of Incorporation, Bylaws, and
Statutory Provisions Having Potential &ldquo;Anti-takeover&rdquo; Effects</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following paragraphs summarize certain provisions
of our certificate of incorporation, bylaws, and Delaware law that may have the effect, or be used as a means, of delaying or preventing
attempts to acquire or take control of the Company, or to remove or replace incumbent directors, that are not first approved by our board
of directors, even if those proposed actions are favored by our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Authorized
Shares</I></FONT>. Our certificate of incorporation currently authorizes the issuance of 1,005,000,000 shares with a par value of $0.000001
per share, of which 1,000,000,000 shares of common stock (including 900,000,000 shares of Class&nbsp;A common stock with one vote per
shares and 100,000,000 shares of Class&nbsp;B Common Stock with fifteen votes per share) and 5,000,000 shares of preferred stock. Our
board of directors is authorized to approve the issuance of shares of our common stock from time to time. This provision gives our board
of directors flexibility to effect, among other transactions, financings, acquisitions, stock dividends, stock splits, and grants of
stock options. However, the authority of our board of directors also could be used, consistent with its fiduciary duty, to deter future
attempts to gain control of the Company by issuing additional common stock to persons friendly to management in order to attempt to block
a tender offer, merger or other transaction by which a third party seeks to gain control.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Special Meetings of
    Stockholders</I></FONT>. Our bylaws provide that a special meeting of stockholders may be called by a resolution approved by the
    board of directors, the chairperson of the board, or president, and may not be called by any other person or persons.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Amendment of Bylaws</I></FONT>.
    Our bylaws authorize our board of directors to adopt, amend, or repeal our bylaws. The stockholders may make additional bylaws and
    may adopt, amend, or repeal any bylaws whether such bylaws were originally adopted by them or otherwise.&nbsp;&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Action by Written Consent.&nbsp;</I></FONT>Our
    bylaws provide that any action to be taken at any annual or special meeting of stockholders may be taken without a meeting, without
    prior notice, and without a vote, if a consent or consents in writing or by electronic transmission setting forth the action to be
    taken shall be signed by the holders of outstanding stock having not less the minimum number of votes that would be necessary to
    authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted in person or by proxy.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Listing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
intend to apply to list our Class&nbsp;A common stock on The Nasdaq Capital Market under the ticker symbol &ldquo;[</FONT><FONT STYLE="font-family: Symbol">&middot;</FONT>].&rdquo;
At the time, Nasdaq has not yet approved our application to list approval of our listing application, and there is no guarantee or assurance
our Class&nbsp;A common stock will be approved for listing on The Nasdaq Capital Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Transfer Agent</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The transfer agent of our Class&nbsp;A common stock is [<FONT STYLE="font-family: Symbol">&middot;</FONT>].
Its address is [<FONT STYLE="font-family: Symbol">&middot;</FONT>].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="s_006"></A>SHARES ELIGIBLE FOR FUTURE
SALE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to this offering, there has been no public market for our </FONT>Class&nbsp;A common stock. Future sales of substantial amounts of our
Class&nbsp;A common stock in the public market after this offering, or the possibility of these sales or issuances occurring, could adversely
affect the prevailing market price for our Class&nbsp;A common stock or impair our ability to raise equity capital. Upon completion of
this offering, we will have outstanding shares of Class&nbsp;A common stock held by public stockholders representing approximately [<FONT STYLE="font-family: Symbol">&middot;</FONT>]%
of our Class&nbsp;A common stock in issue if the underwriters do not exercise their over-allotment option, and approximately [<FONT STYLE="font-family: Symbol">&middot;</FONT>]%
of our Class&nbsp;A common stock in issue if the underwriters exercise their over-allotment option in full. All of the Class&nbsp;A common
stock sold in this offering will be freely transferable by persons other than our &ldquo;affiliates&rdquo; without restriction or further
registration under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Lock-up Arrangements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See &ldquo;Underwriting &mdash; Lock-up Agreements.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Rule&nbsp;144</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All of the shares of our common stock outstanding
prior to the closing of this offering are &ldquo;restricted securities,&rdquo; as that term is defined in Rule&nbsp;144 under the Securities
Act and may be sold publicly in the United States only if they are subject to an effective registration statement under the Securities
Act or pursuant to an exemption from the registration requirement, such as those provided by Rule&nbsp;144 and Rule&nbsp;701 promulgated
under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In general, under Rule&nbsp;144 as currently
in effect, beginning 90 days after the date of this prospectus, a person who is not deemed to have been our affiliate at any time during
the three months preceding a sale and who has beneficially owned restricted securities within the meaning of Rule&nbsp;144 for more than
six months would be entitled to sell an unlimited number of those securities, subject only to the availability of current public information
about us. A non-affiliate who has beneficially owned restricted securities for at least one year from the later of the date these shares
of common stock were acquired from us or from our affiliate would be entitled to freely sell those shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A person who is deemed to be an affiliate of
ours and who has beneficially owned &ldquo;restricted securities&rdquo; for at least six months would be entitled to sell, within any
three-month period, a number of shares of common stock that is not more than the greater of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1% of the number of shares
    of Class&nbsp;A common stock then outstanding, which will equal approximately [</FONT><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">]
    shares of Class&nbsp;A common stock immediately after this offering, assuming the underwriters do not exercise their over-allotment
    option; or</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the average weekly trading
    volume of our Class&nbsp;A common stock on The Nasdaq Capital Market or other relevant national securities exchange during the four
    calendar weeks preceding the filing of a notice on Form&nbsp;144 with respect to such sale.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Sales under Rule&nbsp;144 by our affiliates or
persons selling shares on behalf of our affiliates are also subject to certain manner of sale provisions and notice requirements and
to the availability of current public information about us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Rule&nbsp;701</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In general, under Rule&nbsp;701 of the Securities
Act as currently in effect, each of our employees, consultants, or advisors who purchases shares of our common stock from us in connection
with a compensatory stock plan or other written agreement executed prior to the completion of this offering is eligible to resell those
shares in reliance on Rule&nbsp;144, but without compliance with some of the restrictions, including the holding period, contained in
Rule&nbsp;144. However, the Rule&nbsp;701 shares would remain subject to lock-up arrangements and would only become eligible for sale
when the lock-up period expires.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Regulation S</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Regulation S provides generally that sales made
in offshore transactions are not subject to the registration or prospectus-delivery requirements of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="s_007"></A><B>UNDERWRITING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dominari Securities LLC is acting as the representative
of several underwriters to underwrite this offering (the &ldquo;Representative&rdquo;). Subject to the terms and conditions of an underwriting
agreement between us and the Representative, we have agreed to sell to each underwriter named below, and each underwriter named below
has severally agreed to purchase, at the public offering price less the underwriting discounts set forth on the cover page&nbsp;of this
prospectus, the number of shares of Class&nbsp;A common stock listed next to its name in the following table:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Underwriters</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number
    of<BR>
    Shares of <BR>
    Class&nbsp;A<BR>
    common <BR>
    stock</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dominari Securities LLC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[</FONT><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">]</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Revere Securities LLC</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">[<FONT STYLE="font-family: Symbol">&middot;</FONT>]</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 85%; padding-bottom: 2.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black medium double; padding-bottom: 2.5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black medium double; padding-bottom: 2.5pt; width: 12%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[</FONT><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">]</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The underwriting agreement provides that the
obligations of the underwriters to pay for and accept delivery of the shares of Class&nbsp;A common stock offered by this prospectus
are subject to various conditions and representations and warranties, including the approval of certain legal matters by their counsel
and other conditions specified in the underwriting agreement. The underwriters reserve the right to withdraw, cancel or modify the offer
to the public and to reject orders in whole or in part. The underwriters are obligated to take and pay for all of the shares of Class&nbsp;A
common stock offered by this prospectus if any such shares of Class&nbsp;A common stock are taken, other than those shares of Class&nbsp;A
common stock covered by the over-allotment option described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have agreed to indemnify the underwriters
against specified liabilities, including liabilities under the&nbsp;Securities Act, and to contribute to payments the underwriters may
be required to make in respect thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Over-Allotment Option</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have granted a 45-day option to the Representative
to purchase up to additional shares of our Class&nbsp;A common stock at a public offering price of $[<FONT STYLE="font-family: Symbol">&middot;</FONT>]
per share, less the underwriting discount, solely to cover over-allotments, if any. The Representative may exercise this option, at its
discretion, in whole or in part, for 45 days from the closing of this offering solely to cover sales of shares of Class&nbsp;A common
stock by the underwriters in excess of the total number of shares of Class&nbsp;A common stock set forth in the table above. If any of
these additional shares are purchased, the underwriters will offer the additional shares on the same terms as those on which the shares
are being offered. If this option is exercised in full, the total offering price to the public will be $[<FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">]
and the total net proceeds, before expenses, to us will be $[</FONT><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">],
assuming an initial public offering price of $[</FONT><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">]
per share (which is the midpoint of the price range set forth on the cover page of this prospectus).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Underwriting Discounts and Expenses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The underwriters propose initially to offer the
shares of Class&nbsp;A common stock to the public at the public offering price set forth on the cover page&nbsp;of this prospectus and
to dealers at that&nbsp;price less a concession. If all of the shares of Class&nbsp;A common stock offered by us are not sold at the
public offering price, the underwriters may change the offering price and other selling terms by means of a supplement to this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table shows the public offering
price, underwriting discounts, and proceeds, before expenses, to us. The information assumes either no exercise or full exercise of the
over-allotment option we granted to the representative of the underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Per
    Share</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total
    <BR>
    Without<BR>
    Over-<BR>
    Allotment<BR>
    Option</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total
    With <BR>
    Full Over-<BR>
    Allotment <BR>
    Option</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Public offering price</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting discounts and commissions<SUP>(1)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Non-accountable expense allowance (1%)</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proceeds, before expenses, to us</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents an underwriting
    discount equal to </FONT>7% per share. The fees do not include the expense reimbursement provisions described below.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have agreed to be responsible for all reasonable, necessary, and accountable out-of-pocket expenses relating to this offering, including
underwriter counsel fees, background check fees, and necessary travel expenses, will be capped at $</FONT>150,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will pay an advance of $</FONT>50,000 to the Representative, for the Representative&rsquo;s anticipated out-of-pocket expenses. Regardless
of whether the engagement is terminated, the advances will be refunded to the extent not actually incurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have agreed to pay the Representative an amount
equal to 1% of the gross proceeds of this offering as a non-accountable expense of the offering, at closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We estimate that expenses payable by us in connection
with this offering, other than the underwriting discounts referred to above and underwriter expense reimbursement, will be approximately
$[<FONT STYLE="font-family: Symbol">&middot;</FONT>].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Right of First Refusal</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the 9-month period following closing of this
offering, we have agreed to grant the Representative the right of first refusal to provide investment banking services to the Company
on an exclusive basis and on terms that are the same or more favorable to the Company compared to terms offered to the Company by other
underwriters/placement agents (the &ldquo;Right of First Refusal&rdquo;), which is exercisable in the Representative&rsquo;s sole discretion.
For these purposes, investment banking services shall include, without limitation, (a)&nbsp;acting as lead manager for any underwritten
public offering; and (b)&nbsp;acting as placement agent or initial purchaser in connection with any private offering of securities of
the Company. The Representative shall notify the Company of its intention to exercise the Right of First Refusal within seven (7)&nbsp;days
following notice in writing by the Company. Any decision by the Representative to act in any such capacity shall be contained in separate
agreements, which would contain, among other matters, provisions for customary fees for transactions of similar size and nature, as may
be mutually agreed upon, and indemnification of the Representative. The terms of such agreements shall be subject to general market conditions,
provided the terms for such financing or transaction are the same or more favorable to the Company comparing to terms offered to the
Company by other underwriters/placement agents. If the Representative declines to exercise the Right of First Refusal or is unable to
provide same or more favorable terms to the Company under reasonable standard, the Company shall have the right to retain any other person
or persons to provide such services on terms and conditions which are not more favorable to such other person or persons than the terms
presented to and declined by the Representative. The Right of First Refusal granted to the Representative may be terminated by the Company
for cause, defined as the Representative&rsquo;s material failure to provide the underwriting services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Listing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
intend to apply to list our Class&nbsp;A common stock on The Nasdaq Capital Market under the symbol &ldquo;[</FONT><FONT STYLE="font-family: Symbol">&middot;</FONT>].&rdquo;
At this time, Nasdaq has not yet approved our application to list our Class&nbsp;A common stock. The closing of this offering is conditioned
upon Nasdaq&rsquo;s final approval of our listing application, and there is no guarantee or assurance that our Class&nbsp;A common stock
will be approved for listing on The Nasdaq Capital Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Indemnification</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have agreed to indemnify the Representative
and its control persons, members, managers, officers, employees, agents, or affiliates (each, including the Representative, an &ldquo;Indemnified
Person&rdquo;) to the fullest extent lawful against any and all claims, losses, and reasonable expenses as incurred arising out of this
offering or the engagement, except to the extent a claim, loss, or expense is directly attributable to any action or failure to act by
the Indemnified Person, other than an action or failure to act undertaken at our request or with the our explicit consent, that is found
in a final judicial or arbitral determination (or a settlement tantamount thereto) to constitute bad faith, fraud, gross negligence,
or willful misconduct on the part of the Indemnified Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Lock-Up Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have agreed not to, for a period of six months
from the closing of this offering, (i) offer, pledge, sell, or otherwise transfer or dispose of, directly or indirectly, any number of
shares issued by us or any securities convertible into or exercisable or exchangeable for shares issued by us; and (ii) file or caused
to be filed any registration statement with the SEC relating to the offering of any shares issued by us or any securities convertible
into or exercisable or exchangeable for shares issued by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furthermore,
each of our directors and executive officers and our principal stockholders (5% or more stockholders) has also agreed to enter into a
similar lock-up agreement for a period of </FONT>six months from the date of this prospectus, subject to certain exceptions, with respect
to our Class&nbsp;A common stock and securities that are substantially similar to our Class&nbsp;A common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Pricing of the Offering</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prior to this offering, there has been no public
market for our Class&nbsp;A common stock. The initial public offering price of our Class&nbsp;A common stock has been negotiated between
us and the underwriters. Among the factors considered in determining the initial public offering price of our Class&nbsp;A common stock,
in addition to the prevailing market conditions, are our historical performance, estimates of our business potential and earnings prospects,
an assessment of our management, and the consideration of the above factors in relation to market valuation of companies in related businesses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We offer no assurances that the initial public
offering price will correspond to the price at which our securities will trade in the public market subsequent to this offering or that
an active trading market for our securities will develop and continue after this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Electronic Offer, Sale, and Distribution of
Class&nbsp;A common stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A prospectus in electronic format may be made
available on the websites maintained by the underwriters or selling group members, if any, participating in this offering and the underwriters
may distribute prospectuses electronically. The underwriters may agree to allocate a number of shares of Class&nbsp;A common stock to
selling group members for sale to their online brokerage account holders. The Class&nbsp;A common stock to be sold pursuant to internet
distributions will be allocated on the same basis as other allocations. Other than the prospectus in electronic format, the information
on these websites is not part of, nor incorporated by reference into, this prospectus or the registration statement of which this prospectus
forms a part, has not been approved or endorsed by us or the underwriters, and should not be relied upon by investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Price Stabilization, Short Positions, and
Penalty Bids</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with this offering, the underwriters
may engage in transactions that stabilize, maintain, or otherwise affect the price of our Class&nbsp;A common stock. Specifically, the
underwriters may sell more shares than they are obligated to purchase under the underwriting agreement, creating a short position. A
short sale is covered if the short position is no greater than the number of shares of Class&nbsp;A common stock available for purchase
by the underwriters under option to purchase additional shares of Class&nbsp;A common stock. The underwriters can close out a covered
short sale by exercising the option to purchase additional shares or purchasing Class&nbsp;A common stock in the open market. In determining
the source of Class&nbsp;A common stock to close out a covered short sale, the underwriters will consider, among other things, the open
market price of Class&nbsp;A common stock compared to the price available under the option to purchase additional shares of Class&nbsp;A
common stock. The underwriters may also sell Class&nbsp;A common stock in excess of the option to purchase additional shares of Class&nbsp;A
common stock, creating a naked short position. The underwriters must close out any naked short position by purchasing Class&nbsp;A common
stock in the open market. A naked short position is more likely to be created if the underwriters are concerned that there may be downward
pressure on the price of the Class&nbsp;A common stock in the open market after pricing that could adversely affect investors who purchase
in the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The underwriters may also impose a penalty bid.
This occurs when a particular underwriter or dealer repays selling concessions allowed to it for distributing our Class&nbsp;A common
stock in this offering because such underwriter repurchases the shares of Class&nbsp;A common stock in stabilizing or short covering
transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Finally, the underwriters may bid for, and purchase,
our Class&nbsp;A common stock in market making transactions, including &ldquo;passive&rdquo; market making transactions as described
below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These activities may stabilize or maintain the
market price of our Class&nbsp;A common stock at a price that is higher than the price that might otherwise exist in the absence of these
activities. The underwriters are not required to engage in these activities, and may discontinue any of these activities at any time
without notice. These transactions may be effected on Nasdaq, in the over-the-counter market, or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Passive Market Making</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These activities may stabilize or maintain the
market price of our Class&nbsp;A common stock at a price that is higher than the price that might otherwise exist in the absence of these
activities. The underwriters are not required to engage in these activities, and may discontinue any of these activities at any time
without notice. These transactions may be effected on The Nasdaq Capital Market, in the over-the-counter market, or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Passive Market Making</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">In connection with this offering, the underwriters
may engage in passive market making transactions in our Class&nbsp;A common stock on The Nasdaq Capital Market in accordance with Rule&nbsp;103
of Regulation M under the Exchange Act, during a period before the commencement of offers or sales of our Class&nbsp;A common stock and
extending through the completion of the distribution. A passive market maker must display its bid at a price not in excess of the highest
independent bid of that security. However, if all independent bids are lowered below the passive market maker&rsquo;s bid, then that
bid must then be lowered when specified purchase limits are exceeded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Other Relationships</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The underwriters and certain of their affiliates
are full service financial institutions engaged in various activities, which may include securities trading, commercial and investment
banking, financial advisory, investment management, investment research, principal investment, hedging, financing, and brokerage activities.
Some of the underwriters and certain of their affiliates may in the future engage in investment banking and other commercial dealings
in the ordinary course of business with us and our affiliates, for which they may in the future receive customary fees, commissions,
and expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, in the ordinary course of their
business activities, the underwriters and their affiliates may make or hold a broad array of investments and actively trade debt and
equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the
accounts of their customers. Such investments and securities activities may involve securities and/or instruments of ours or our affiliates.
The underwriters and their affiliates may also make investment recommendations and/or publish or express independent research views in
respect of such securities or financial instruments and may hold, or recommend to clients that they acquire, long, and/or short positions
in such securities and instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Selling Restrictions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No action has been taken in any jurisdiction
(except in the United States) that would permit a public offering of our Class&nbsp;A common stock, or the possession, circulation or
distribution of this prospectus or any other material relating to us or our Class&nbsp;A common stock, where action for that purpose
is required. Accordingly, our Class&nbsp;A common stock may not be offered or sold, directly or indirectly, and neither this prospectus
nor any other offering material or advertisements in connection with our Class&nbsp;A common stock may be distributed or published, in
or from any country or jurisdiction except in compliance with any applicable rules&nbsp;and regulations of any such country or jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>European Economic Area and United Kingdom</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In relation to each Member State of the European
Economic Area and the United Kingdom (each a &ldquo;Relevant State&rdquo;), no common stock has been offered or will be offered pursuant
to the offering to the public in that Relevant State prior to the publication of a prospectus in relation to the common stock which has
been approved by the competent authority in that Relevant State or, where appropriate, approved in another Relevant State and notified
to the competent authority in that Relevant State, all in accordance with the Prospectus Regulation, except that offers of shares may
be made to the public in that Relevant State at any time under the following exemptions under the Prospectus Regulation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to legal entities which
    are qualified investors as defined under the Prospectus Regulation;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">by the underwriters to
    fewer than 150 natural or legal persons (other than qualified investors as defined in the Prospectus Regulation), subject to obtaining
    the prior consent of the representatives of the underwriters for any such offer; or</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">in any other circumstances
    falling within Article&nbsp;1(4)&nbsp;of the Prospectus Regulation,</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">provided that no such offer of common stock shall
result in a requirement for us or any underwriter to publish a prospectus pursuant to Article&nbsp;3 of the Prospectus Regulation or
supplement a prospectus pursuant to Article&nbsp;23 of the Prospectus Regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the purposes of this provision, the expression
an &ldquo;offer of common stock to the public&rdquo; in relation to any common stock in any Relevant State means the communication in
any form and by any means of sufficient information on the terms of the offer and any common stock to be offered so as to enable an investor
to decide to purchase or subscribe for our common stock, and the expression &ldquo;Prospectus Regulation&rdquo; means Regulation (EU)
2017/1129.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>United Kingdom</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This prospectus has only been communicated or
caused to have been communicated and will only be communicated or caused to be communicated as an invitation or inducement to engage
in investment activity (within the meaning of Section&nbsp;21 of the Financial Services and Markets Act of 2000, or the FSMA) as received
in connection with the issue or sale of our common stock in circumstances in which Section&nbsp;21(1)&nbsp;of the FSMA does not apply
to us. All applicable provisions of the FSMA will be complied with in respect to anything done in relation to our common stock in, from
or otherwise involving the United Kingdom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Australia</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This prospectus is not a disclosure document
under Chapter 6D of the Australian Corporations Act, has not been lodged with the Australian Securities and Investments Commission and
does not purport to include the information required of a disclosure document under Chapter 6D of the Australian Corporations Act. Accordingly,
(i)&nbsp;the offer of the securities under this prospectus is only made to persons to whom it is lawful to offer the securities without
disclosure under Chapter 6D of the Australian Corporations Act under one or more exemptions set out in section 708 of the Australian
Corporations Act, (ii)&nbsp;this prospectus is made available in Australia only to those persons as set forth in clause (i)&nbsp;above,
and (iii)&nbsp;the offeree must be sent a notice stating in substance that by accepting this offer, the offeree represents that the offeree
is such a person as set forth in clause (i)&nbsp;above, and, unless permitted under the Australian Corporations Act, agrees not to sell
or offer for sale within Australia any of the securities sold to the offeree within 12 months after its transfer to the offeree under
this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Canada</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The shares of common stock may be sold only to
purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45-106
Prospectus Exemptions or subsection 73.3(1)&nbsp;of the Securities Act (Ontario), and are permitted clients, as defined in National Instrument
31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. Any resale of the securities must be made in accordance
with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Securities legislation in certain provinces or
territories of Canada may provide a purchaser with remedies for rescission or damages if this prospectus (including any amendment thereto)
contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within the time limit
prescribed by the securities legislation of the purchaser&rsquo;s province or territory. The purchaser should refer to any applicable
provisions of the securities legislation of the purchaser&rsquo;s province or territory for particulars of these rights or consult with
a legal advisor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to section 3A.3 of National Instrument
33-105 Underwriting Conflicts, or NI 33-105, the underwriters are not required to comply with the disclosure requirements of NI 33-105
regarding underwriter conflicts of interest in connection with this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="s_008"></A>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are being represented by Hunter Taubman Fischer&nbsp;&amp; Li LLC with respect to legal matters as to United States federal securities
and New York State law. The validity of the Class&nbsp;A common stock offered in this offering will be passed upon for us by Hunter Taubman
Fischer&nbsp;&amp; Li LLC. Sullivan &amp; Worcester LLP</FONT> is acting as counsel to the underwriters in connection with this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="s_009"></A><B>EXPERTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The financial statements of JAR Transportation
Inc for the fiscal year ended November 30, 2023 and for the period from December 1, 2023 to October 25, 2024, and the financial statements
of Elite Express Holding Inc. for the period from October 26, 2024 to November&nbsp;30, 2024, appearing in this prospectus have been
audited by Golden Eagle CPAs LLC, an independent registered public accounting firm, as stated in their report thereon and included in
this prospectus, in reliance upon such report and upon the authority of such firm as experts in accounting and auditing. The office of
Golden Eagle CPAs LLC is located at 90 Washington Valley Road, Bedminster, New Jersey 07921, U.S.A.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="s_010"></A>WHERE YOU CAN FIND ADDITIONAL
INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have filed with the SEC a registration statement
on Form&nbsp;S-1, including relevant exhibits and schedules under the Securities Act, covering the Class&nbsp;A common stock offered
by this prospectus. You should refer to our registration statement and its exhibits and schedules if you would like to find out more
about us and about our Class&nbsp;A common stock. This prospectus summarizes material provisions of contracts and other documents that
we refer you to. Since the prospectus may not contain all the information that you may find important, you should review the full text
of these documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Upon
the completion of our initial public offering, we will be required to file periodic reports, proxy statements</FONT>, and other information
with the SEC pursuant to the&nbsp;Exchange&nbsp;Act. The SEC maintains a website that contains reports, proxy statements, and other information
about issuers, such as us, who file electronically with the SEC. The address of that website is <I>http://www.sec.gov</I>. We also maintain
a website at https://www.eliteexpressholding.com, at which you may access these materials free of charge as soon as reasonably practicable
after they are electronically filed with, or furnished to, the SEC. However, the information contained in or accessible through our website
is not part of this prospectus, and investors should not rely on such information in making a decision to purchase the securities in
this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Split-Segment; Name: 3 -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="d6"></A>INDEX TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ELITE
EXPRESS HOLDING INC. AND SUBSIDI</B></FONT><B>ARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Page</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Consolidated Financial Statements</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: -9pt; padding-left: 9pt">Report of Independent Registered Public Accounting
    Firm (PCAOB ID: [7154])</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 89%; font-size: 10pt; text-align: justify; text-indent: -9pt; padding-left: 9pt"><A HREF="#d1">Consolidated Balance
    Sheets as of November&nbsp;30, 2024 (Successor) and November 30, 2023 (Predecessor)</A></TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 10%; font-size: 10pt; text-align: center"><A HREF="#d1">F-2</A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: -9pt; padding-left: 9pt"><A HREF="#d2">Consolidated Statements of Operations
    for the Period from October 26, 2024, to November&nbsp;30, 2024 (Successor), for the Period from December 1, 2023 to October 25,2024
    and for the Year Ended November 30,2023 (Predecessor)</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="#d2">F-3</A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: -9pt; padding-left: 9pt"><A HREF="#d3">Consolidated Statements of Changes
    in Stockholders&rsquo; Equity (Deficit) for the Period Ended November&nbsp;30, 2024 (Successor), for the Equity for the Period from
    December 1, 2023 to October 25,2024 and for the Year Ended November 30,2023(Predecessor)</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="#d3">F-4</A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: -9pt; padding-left: 9pt"><A HREF="#d4">Consolidated Statements of Cash
    Flows for the Period Ended November&nbsp;30, 2024 (Successor), for the Period from December 1,2023 to October 25,2024 and for the
    Year Ended November 30,2023 (Predecessor)</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="#d4">F-5</A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: -9pt; padding-left: 9pt"><A HREF="#d5">Notes to the Consolidated Financial
    Statements</A></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="#d5">F-6&ndash;F-16</A></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">To Board
of Directors and stockholders of</FONT><BR>
Elite Express Holding, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Opinion on the Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have audited the accompanying
consolidated balance sheet of Elite Express Holding, Inc. (the &ldquo;Company&rdquo;) as of November 30, 2024 (Successor Company)
and balance sheet of Jar Transportation Inc. as of November 30, 2023 (Predecessor Company), the related consolidated statements of
operations, changes in stockholders &lsquo;equity (deficit) and cash flow for the period from October 26, 2024 to November 30, 2024
(Successor Company), and for the period from December 1, 2023 to October 25, 2024 (Predecessor Company) and for the year ended
November 30, 2023 (Predecessor Company), and the related notes (collectively referred to as the &ldquo;consolidated financial
statements&rdquo;). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial
position of the Company as of November 30, 2024 (Successor Company) and as of November 30, 2023 (Predecessor Company), and the
results of its operations and its cash flow for the period from October 26, 2024 to November 30, 2024 (Successor Company) and for
the period from December 1, 2023 to October 25, 2024 (Predecessor Company) and for the year ended November 30, 2023 (Predecessor
Company), in conformity with accounting principles generally accepted in the United States of America.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Basis for Opinion</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">These consolidated financial statements are the
responsibility of the Company&rsquo;s management. Our responsibility is to express an opinion on the Company&rsquo;s financial statements
based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (&ldquo;PCAOB&rdquo;)
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We conducted our audit in accordance with the
standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged
to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding
of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company&rsquo;s
internal control over financial reporting. Accordingly, we express no such opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our audit included performing procedures to assess
the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well
as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Golden Eagle CPAs LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have served as the Company&rsquo;s auditor since 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bedminster, New Jersey</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">February 20, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="d1"></A>ELITE EXPRESS HOLDING&nbsp;INC.&nbsp;&amp;
SUBSIDIARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED BALANCE SHEETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Successor</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Predecessor</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">November 30,</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">November 30,</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2024</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2023</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">ASSETS</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">CURRENT ASSETS:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; font-size: 10pt; text-indent: -0.1in; padding-left: 0.1in">Cash</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">170,157</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">54,712</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Accounts receivable</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">56,485</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">98,041</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Prepaid expenses and
    other current assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">113,260</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,400</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">TOTAL CURRENT ASSETS</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">339,902</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">155,153</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">NONCURRENT ASSETS:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Property and equipment, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">279,790</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">562,777</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Intangible assets, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">542,800</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-indent: -0.1in; padding-left: 0.1in">Goodwill</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">668,858</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Deferred tax assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">5,437</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.1in">TOTAL
    ASSETS</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">1,831,350</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">723,367</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">LIABILITIES AND STOCKHOLDERS&rsquo;
    EQUITY</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">CURRENT LIABILITIES:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Accounts payable</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">21,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Due to a related party</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">29,038</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Current portion of long-term debt</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">225,301</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Accrued liabilities
    and other current liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">298,622</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">36,082</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">TOTAL
    CURRENT LIABILITIES</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">348,660</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">261,383</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">NONCURRENT LIABILITY:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Deferred tax liability</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">106,698</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Long-term debt, net
    of current portion</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">422,022</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">TOTAL
    LIABILITIES</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">455,358</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">683,405</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">COMMITMENTS AND CONTINGENCIES</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">STOCKHOLDERS&rsquo; EQUITY</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-indent: -0.1in; padding-left: 0.1in">Common stock, $0.000001 par value, 1,000,000,000 shares authorized;
    12,916,672 shares issued and outstanding as of November 30, 2024, including:*</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-indent: -0.1in; padding-left: 0.1in">Class A common stock, $0.000001 par value - 900,000,000 shares
    authorized; 8,750,005 shares issued and outstanding as of November 30, 2024</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">9</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-indent: -0.1in; padding-left: 0.1in">Class B common stock, $0.000001 par value - 100,000,000 shares
    authorized, 4,166,667 shares issued and outstanding as of November 30, 2024</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-indent: -0.1in; padding-left: 0.1in">Capital Stock, $1.0 par value, 10,000,000 shares authorized;
    330,000 shares issued and outstanding as of November 30, 2023</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">330,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Additional paid-in capital</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,684,988</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">22,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Stockholder&rsquo;s distributions</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(9,873</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Accumulated deficit</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(309,009</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(302,165</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">TOTAL STOCKHOLDERS&rsquo;
    EQUITY</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">1,375,992</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">39,962</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.1in">TOTAL
    LIABILITIES AND STOCKHOLDERS&rsquo; EQUITY</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">1,831,350</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">723,367</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">*Retrospectively adjusted for the reverse split
of the Company&rsquo;s common stock at a ratio of 1-for-6, which took effect on December&nbsp;23, 2024 (the &ldquo;Reverse Stock Split&rdquo;).
See also Note 11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part of
these consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ELITE EXPRESS HOLDING&nbsp;INC.&nbsp;&amp;
SUBSIDIARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="d2"></A><B>CONSOLIDATED STATEMENT OF
OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Successor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Predecessor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For
    the Period<BR>
    from October 26 to <BR>
    November 30, 2024</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For
    the Period from <BR>
    December 1, 2023 to<BR> October 25, 2024</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For
    the Year Ended <BR>
    November 30, 2023</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; font-size: 10pt; font-weight: bold">REVENUE</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; font-weight: bold; text-align: right">251,049</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; font-weight: bold; text-align: right">2,192,893</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; font-weight: bold; text-align: right">2,426,026</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold">COST OF REVENUE</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Cost of service</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">34,740</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">172,228</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">163,360</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Cost of Labor</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">183,703</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,106,231</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,207,344</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Fuel</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">42,776</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">368,108</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">395,155</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Maintenance and repairs</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">15,597</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">258,481</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">257,963</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total cost of revenue</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">276,816</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,905,048</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,023,822</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">GROSS PROFIT (LOSS)</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(25,767</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">)</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">287,845</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">402,204</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">OPERATING EXPENSES</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">General and administrative expenses</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">317,039</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">343,320</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">591,924</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total operating expenses</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">317,039</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">343,320</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">591,924</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">LOSS FROM OPERATIONS</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(342,806</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">)</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(55,475</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(189,720</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">OTHER INCOME (EXPENSE)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Interest expense, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(27,808</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(29,949</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other income, net</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">5,164</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">8,925</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total other expense, net</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(22,644</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(21,024</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">LOSS BEFORE INCOME TAX BENEFIT</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">(342,806</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">)</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">(78,119</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">(210,744</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Income Tax benefits</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(42,103</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(384</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(2,354</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">NET LOSS</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">(300,703</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">)</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">(77,735</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">(208,390</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Loss per common share - basic and diluted</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">(0.02</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">)</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">Weighted average shares - basic and diluted*</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">12,916,672</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">*Retrospectively adjusted for the reverse split
of the Company&rsquo;s common stock at a ratio of 1-for-6, which took effect on December&nbsp;23, 2024 (the &ldquo;Reverse Stock Split&rdquo;).
See Note 11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part of
these consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ELITE EXPRESS HOLDING&nbsp;INC.&nbsp;&amp;
SUBSIDIARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="d3"></A><B>CONSOLIDATED STATEMENT OF
CHANGES IN STOCKHOLDERS&rsquo; EQUITY (DEFICIT)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE PERIOD FROM OCTOBER 26, 2024 TO NOVEMBER
30, 2024, THE PERIOD FROM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DECEMBER 1, 2023 TO OCTOBER 25, 2024 AND THE
YEAR ENDED NOVEMBER 30, 2023</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Capital Stock</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Additional<BR> paid-in &nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Stockholder&rsquo;s<BR> Contributions&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Retained<BR> Earnings<BR> (Accumulated</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Total<BR> Stockholders&rsquo;<BR> Equity</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Capital stock</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Amount</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>capital</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>(Distributions)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Deficit)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>(Deficit)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 34%; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt">Balance, November 30, 2022 (Predecessor)</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">330,000</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">330,000</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">22,000</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">144,792</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD>
    <TD STYLE="width: 8%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">496,792</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">Cumulative Effect of Change in Accounting Principle (See Note 2)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#65288;</FONT><FONT STYLE="font-size: 8pt">238,567)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">(238,567</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">Stockholder&rsquo;s Distributions</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">(9,873</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">(9,873</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">Net loss</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">(208,390</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">(208,390</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Balance, November 30, 2023 (Predecessor)</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">330,000</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">330,000</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">22,000</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">(9,873</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">(302,165</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">39,962</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">Cumulative Effect of Change in Accounting Principle (See Note 2)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">(4,637</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">(4,637</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">Stockholder&rsquo;s Contributions</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">10,457</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">10,457</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">Net loss</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">(77,735</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">(77,735</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Balance, October 25, 2024 (Predecessor)</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">330,000</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">330,000</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">22,000</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">584</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">(384,537</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">(31,953</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  </TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common&nbsp;Stock*</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">Total</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">Class&nbsp;A</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">Class&nbsp;B</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">Additional</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">Stockholders&rsquo;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">Common</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">Common</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">&#8239;paid-in</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">Subscription</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">Accumulated</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center">Equity</TD><TD STYLE="font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">stock</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">stock</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">capital</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Receivable</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Deficit</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(Deficit)</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 27%; font-size: 8pt; font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">Balance, October 26,2024 (Successor)</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 8pt; text-align: right">8,750,000</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">$</TD><TD STYLE="width: 5%; font-size: 8pt; text-align: right">9</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; font-size: 8pt; text-align: right">4,166,667</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">$</TD><TD STYLE="width: 6%; font-size: 8pt; text-align: right">4</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">$</TD><TD STYLE="width: 6%; font-size: 8pt; text-align: right">1,095,988</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">$</TD><TD STYLE="width: 6%; font-size: 8pt; text-align: right">(650,000</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">)</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">$</TD><TD STYLE="width: 6%; font-size: 8pt; text-align: right">(8,306</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">)</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">$</TD><TD STYLE="width: 6%; font-size: 8pt; text-align: right">437,695</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 8pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Stock issuance</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">650,000</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">650,000</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 8pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Capital Contributions from a stockholder</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">589,000</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">589,000</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 8pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Fraction shares issued due to reverse stock
    split</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">5</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">-</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Net loss</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(300,703</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">)</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(300,703</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 8pt">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.1in">Balance, November&nbsp;30,
    2024 (Successor)</TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">8,750,005</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">9</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">4,166,667</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">4</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">1,684,988</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">(309,009</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left">)</TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">1,375,992</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*Retrospectively adjusted for the reverse split of the Company&rsquo;s
common stock at a ratio of 1-for-6, which took effect on December&nbsp;23, 2024 (the &ldquo;Reverse Stock Split&rdquo;). See Note 11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part of
these consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ELITE
EXPRESS HOLDING&nbsp;INC</B></FONT>.<B>&nbsp;&amp; SUBSIDIARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="d4"></A>CONSOLIDATED STATEMENT OF
CASH FLOWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Successor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Predecessor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For
    the<BR>
    Period Ended<BR>
    November 30,2024</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For
    the <BR>
    Period from<BR>
    December 1, 2023 to <BR>
    October 25, 20224</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For
    The<BR>
    Year Ended <BR>
    November 30, 2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Cash flows from operating
    activities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 58%; font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Net loss</TD><TD STYLE="width: 2%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; font-weight: bold; text-align: right">(300,703</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</TD><TD STYLE="width: 2%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; font-weight: bold; text-align: right">(77,735</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</TD><TD STYLE="width: 2%; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; font-weight: bold; text-align: right">(208,390</TD><TD STYLE="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Adjustments to reconcile
    net loss to net cash provided by (used in) operating activities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Amortization of intangible assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">9,200</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">-</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">-</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Depreciation of property and equipment</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">16,122</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">220,858</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">230,947</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Deferred tax provision (benefit)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(42,903</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,016</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(7,437</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Changes in operating assets
    and liabilities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Accounts receivable</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(56,485</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">57,433</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(6,146</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Prepaid expenses and other current assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(93,260</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(1,000</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">10,644</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Accounts payable</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">21,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Other payables and other
    current liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">272,193</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,203</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(28,440</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Net
    cash provided by (used in) operating activities</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(174,836</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">203,775</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(8,822</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Cash flows from investing
    activities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Acquisition of business, net of cash acquired</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(899,669</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Purchase of property
    and equipment</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(6,010</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Net
    cash used in investing activities</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(899,669</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(6,010</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Cash flows from financing
    activities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Proceeds from issuance of common stock under
    private placement agreement</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">650,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Capital contributions from a stockholder</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">589,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Repayments of long-term borrowings</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(205,452</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(197,172</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Borrowing from a stockholder</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">166,847</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Stockholders&rsquo;
    withdraw</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">10,475</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(22</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Net
    cash provided by (used in) financing activities</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">1,239,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(194,995</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">(30,347</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Net increase (decrease)
    in cash</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">164,495</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">8,780</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">(45,179</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Cash, beginning of
    period</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">5,662</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">54,712</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right">99,891</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.1in">Cash, end of period</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">170,157</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">63,492</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">54,712</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part of
these consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ELITE
EXPRESS HOLDING&nbsp;INC</B></FONT><B>. (SUCCESSOR) AND JAR TRANSPORTATION INC (PREDECESSOR)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="d5"></A>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 1 &mdash; ORGANIZATION AND BUSINESS DESCRIPTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Elite Express Holding Inc. (&ldquo;ETS&rdquo;
or the &ldquo;Company&rdquo;) was incorporated on April&nbsp;3, 2024, under the laws of the State of Delaware. The Company is a holding
entity that was formed for the purpose of acquiring JAR Transportation Inc (&ldquo;JAR&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">JAR was incorporated in the State of California
on May 27, 2020 as a S-Corporation under Subchapter S of the Internal Revenue Code. The Company operated as an Independent Service Provider
(&ldquo;ISP&rdquo;) for Federal Ground Package System, Inc. (&ldquo;FXG&rdquo;), providing last-mile package delivery services. As part
of FedEx Corporation&rsquo;s &ldquo;One FedEx&rdquo; consolidation, effective June 1, 2024, FXG merged into Federal Express Corporation
(&ldquo;FedEx&rdquo;). JAR&rsquo;s ISP contract with FXG remained in place until October 12, 2024, after which the subsequent agreement
was signed with FedEx. Unless otherwise specified, references to &ldquo;FedEx&rdquo; in this document include FXG for periods before
October 12, 2024, and Federal Express Corporation thereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 25, 2024, the Company acquired all
issued and outstanding shares of JAR for a total consideration of $1,367,169 in cash, pursuant to a stock purchase agreement dated September
16, 2024 along with Amendment No.2 to stock purchase agreement dated November 22, 2024 (the &ldquo;JAR Acquisition&rdquo;). As of October
25, 2024, JAR ceased to be an S-Corporation and became a wholly owned subsidiary of Elite, a C-Corporation. Refer to Note 6.&nbsp;<I>Acquisition</I>,
for additional information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">References to &ldquo;Successor&rdquo; or &ldquo;Successor
Company&rdquo; relate to the financial position and results of operations of the Company after the JAR Acquisition. References to &ldquo;Predecessor&rdquo;
or &ldquo;Predecessor Company&rdquo; refer to the financial position and results of operations of JAR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company operates exclusively within the State
of California. As an ISP, the Company is granted relative exclusivity in certain service areas by FedEx, which minimizes direct competition
within those regions and enables a focus on operational efficiency and service quality.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Details of the subsidiaries of the Company as
of reporting date were set out below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<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="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif">Name of Entity</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Date
                                            of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Incorporation</B></P></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>State
                                            of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Incorporation</B></P></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>%
                                            of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Ownership</B></P></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Principal Activities</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -5pt; padding-left: 5pt">Elite Express Holding
    Inc.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April&nbsp;3,
                                            2024</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Parent,
                                            100%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Holding company</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -5pt; padding-left: 5pt">Subsidiary
    of the parent:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 20%; text-align: left; text-indent: -5pt; padding-left: 5pt">JAR
    Transportation Inc</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 1%; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 17%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;27,
                                            2020</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 1%; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 17%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">California</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 1%; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 17%; text-align: center">100%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 1%; text-align: left"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 19%; text-align: center">Route business operator
    and last-mile delivery services</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 2 &mdash; SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Basis of presentation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying consolidated financial statements
have been prepared in accordance with the accounting principles generally accepted in the U.S. (the &ldquo;U.S. GAAP&rdquo;) and pursuant
to the rules&nbsp;and regulations of the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;). The accompanying consolidated
financial statements include the financial statements of the Company and its wholly owned subsidiary. All inter-company balances and
transactions are eliminated upon consolidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Uses of estimates</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In preparing the consolidated financial statements
in conformity with U.S. GAAP, management makes 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 revenue
and expenses during the reporting period. These estimates are based on information as of the date of the consolidated financial statements.
Significant estimates required to be made by management include, but are not limited to, the allowance for credit losses of accounts
receivables, useful lives of property and equipment, the recoverability of long-lived assets, impairment of goodwill, revenue recognition,
and the realization of deferred tax assets. Actual results could differ from those estimates.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Risks and Uncertainties</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The operations of the Company are located in
the U.S., with its business activities primarily focused on route delivery services as an ISP for FedEx. Accordingly, the Company&rsquo;s
business, financial condition, and results of operations may be influenced by economic, regulatory, and operational environments in the
U.S., as well as the general state of the U.S. economy. The Company&rsquo;s results may be subject to the following risks and uncertainties:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                            Company generates 100% of its revenue from FedEx, its sole customer. Any material change
                                            in the terms of the agreement, service demand, or the relationship itself could adversely
                                            affect the Company&rsquo;s financial performance.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                            route delivery industry is competitive, and the Company faces competition from both large
                                            national service providers and smaller regional operators. Changes in competitive dynamics
                                            may impact pricing, service demand, and profitability.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Seasonal
                                            demand fluctuations, particularly during peak periods such as holidays, may create challenges
                                            in resource allocation and operational scalability, potentially affecting the Company&rsquo;s
                                            performance.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                            Company is subject to various local, state, and federal transportation regulations. Changes
                                            in these regulations, or non-compliance with them, may result in increased costs or disruptions
                                            to operations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                            Company&rsquo;s operations may also be affected by external events such as natural disasters,
                                            extreme weather conditions, and other events beyond its control, which could disrupt delivery
                                            schedules and operations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Cash</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash includes deposits held by banks that can
be added or withdrawn without limitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Accounts
receivable</I></B></FONT><B><I>, net</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company adopted Accounting Standards Update (&ldquo;ASU&rdquo;) 2016-13 Financial Instruments &mdash; Credit</FONT> Losses (Topic 326):
Measurement of Credit Losses on Financial Instruments (Accounting Standards Codification (&ldquo;ASC&rdquo;) 326). This standard replaced
the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (&ldquo;CECL&rdquo;)
methodology. CECL requires an estimate of credit losses for the remaining estimated life of the financial asset using historical experience,
current conditions, and reasonable and supportable forecasts and generally applies to financial assets measured at amortized cost, including
loan receivables and held-to-maturity debt securities, and some off-balance sheet credit exposures such as unfunded commitments to extend
credit. Financial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance
for credit losses. In addition, CECL made changes to the accounting for available-for-sale debt securities. One such change is to require
credit losses to be presented as an allowance rather than as a write-down on available-for-sale debt securities if management does not
intend to sell and does not believe that it is more likely than not they will be required to sell.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable represent amounts due to
the Company upon the completion of performance obligations for last-mile delivery services. Revenue is recognized in accordance with
the Company&rsquo;s revenue recognition policy, as verified by the Weekly Independent Service Provider Charge Statement. Payments are
typically received within two days of invoicing, and the Company does not extend credit or maintain significant outstanding receivables.
The Company reviews the accounts receivable on a periodic basis and makes allowances when there is doubt as to the collectability of
individual balances. In evaluating the collectability of individual receivable balances, the Company considers many factors, including
historical losses, the age of the receivable balance, the customer&rsquo;s historical payment patterns, its current credit-worthiness
and financial condition, and current market conditions and economic trends. Accounts are written off against the allowance after all
means of collection have been exhausted and the potential for recovery is considered remote. As of November&nbsp;30, 2024 and 2023, no
allowance for credit losses was recorded, as all outstanding balances were considered fully collectible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Property and equipment, net</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment is stated at cost less
accumulated depreciation and impairment charges. Expenditures for maintenance and repairs, which do not materially extend the useful
lives of the assets, are charged to expense as incurred. Depreciation is calculated primarily based on the straight-line method over
the estimated useful lives of the assets:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; width: 35%"><FONT STYLE="font-size: 10pt">Property</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; width: 63%"><FONT STYLE="font-size: 10pt">Estimated useful life</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">Vehicles</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">5 years</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">Office equipment</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">5 years</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Impairment of Long-lived Assets</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company reviews long-lived assets to be held-and-used
for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. If
an impairment indicator is present, the Company evaluates recoverability by comparing the carrying amount of the asset group to the sum
of the undiscounted expected future cash flows over the remaining useful life of the asset group. If the carrying amount exceeds the
recoverable amount, an impairment loss is measured as the amount by which the carrying amount exceeds the fair value of the asset. The
Company estimates fair value using the expected future cash flows discounted at a rate consistent with the risks associated with the
recovery of the assets. Based on the above analysis, no impairment loss was recognized for the period from October 26, 2024 through November
30, 2024 (Successor).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Fair value of financial instruments</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. 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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679; </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1&thinsp;&mdash;&thinsp;inputs
    to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679; </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2&thinsp;&mdash;&thinsp;inputs
    to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for
    identical or similar assets in markets that are not active, inputs other than quoted prices that are observable and inputs derived
    from or corroborated by observable market data. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679; </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3&thinsp;&mdash;&thinsp;inputs
    to the valuation methodology are unobservable. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unless otherwise disclosed, the fair value of
the Company&rsquo;s financial instruments, including cash, accounts receivable, prepaid expenses and other current assets, accounts payable,
due to a related party, other payables and other current liabilities, approximate the fair value of the respective assets and liabilities
as of November&nbsp;30, 2024 and 2023, based upon the short-term nature of the assets and liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Business Combinations</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Business combinations are accounted for using
the acquisition method of accounting. Amounts paid for an acquisition are allocated to the assets acquired and liabilities assumed based
on their fair values at the date of acquisition. The accounting for business combinations requires estimates and judgment in determining
the fair value of assets acquired, liabilities assumed, and contingent consideration transferred, if any, regarding expectations of future
cash flows of the acquired business, and the allocation of those cash flows to the identifiable intangible assets. The determination
of fair value is based on management&rsquo;s estimates and assumptions, as well as other information compiled by management, including
valuations that utilize customary valuation procedures and techniques. If actual results differ from these estimates, the amounts recorded
in the financial statements could result in a possible impairment of intangible assets and goodwill. Consideration transferred in a business
acquisition is measured at the fair value as of the date of acquisition. Acquisition-related expenses are expensed when incurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Goodwill and Intangible Assets</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company records goodwill as the excess of
the consideration transferred over the fair value of net assets acquired in business combinations. Goodwill was recognized in connection
with the acquisition of JAR on October&nbsp;25, 2024 (See Note 6, &ldquo;Acquisition&rdquo;). Goodwill is not amortized but is tested
for impairment annually at the reporting unit level or more frequently if events or changes in circumstances indicate that it may be
impaired. The Company has an option to first assess qualitative factors to determine whether it is necessary to perform the two-step
quantitative goodwill impairment test. In the qualitative assessment, the Company considers primary factors such as industry and market
considerations, overall financial performance of the reporting unit which is described in more detail below, and other specific information
related to the operations. Based on the qualitative assessment, if it is more likely than not that the fair value of each reporting unit
is less than the carrying amount, the quantitative impairment test is performed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company tests goodwill and intangible assets
that are not subject to amortization for impairment annually on November 30, and the Company&rsquo;s goodwill impairment review involves
the following steps: 1) qualitative assessment &ndash; evaluate qualitative factors to determine whether it is more likely than not that
the fair value of a reporting unit is less than its carrying amount, including goodwill. The factors the Company considers include, but
are not limited to, macroeconomic conditions, industry and market considerations, cost factors, financial performance, or events specific
to that reporting unit. If, or when, the Company determines it is more likely than not that the fair value of a reporting unit is less
than the carrying amount, including goodwill, the Company would change to the quantitative method; 2) quantitative method &ndash;the
Company performs the quantitative fair value test by comparing the fair value of a reporting unit with its carrying amount and an impairment
charge is measured as the amount by which the carrying amount exceeds the reporting unit&rsquo;s fair value; however, the loss recognized
should not exceed the total amount of goodwill allocated to that reporting unit. The Company has one reporting unit. Impairment is measured
as the amount by which the carrying amount of the reporting unit exceeds its fair value, not to exceed the carrying value of goodwill.
No impairment of goodwill was recorded for the period from October 26, 2024 through November 30, 2024 (Successor).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s intangible asset consists
of customer relationship acquired as part of the JAR Acquisition. The asset is amortized on a straight-line basis over their estimated
useful lives, as outlined below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>I</B></FONT><B><FONT STYLE="font-size: 10pt">ntangible
    assets</FONT></B></TD>
    <TD STYLE="white-space: nowrap; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 63%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>E</B></FONT><B><FONT STYLE="font-size: 10pt">stimated
    useful life</FONT></B></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Customer
    </FONT><FONT STYLE="font-size: 10pt">Relationship</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT> <FONT STYLE="font-size: 10pt">years</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Revenue recognition</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ASC 606 establishes principles for reporting
information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The core
principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects
the consideration it expects to receive in exchange for those goods or services as performance obligations are satisfied. ASC 606 applies
a five-step model for revenue recognition, which requires the Company to: (i)&nbsp;identify the contract with the customer, (ii)&nbsp;identify
the performance obligations in the contract, (iii)&nbsp;determine the transaction price, including variable consideration to the extent
that it is probable that a significant future reversal will not occur, (iv)&nbsp;allocate the transaction price to the respective performance
obligations in the contract, and (v)&nbsp;recognize revenue when (or as) the Company satisfies the performance obligation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is engaged in providing last-mile
delivery services as an ISP for FedEx. The Company derives revenue from both fixed service charges and activity-based charges under its
ISP Agreement. Performance obligations include (i)&nbsp;weekly service coverage (fixed weekly service charges), (ii)&nbsp;delivery and
pickup stops (stop charges and e-commerce stop charges), (iii)&nbsp;handling and delivering packages (package charges, including e-commerce
and large package deliveries), and (iv)&nbsp;compliance with branding requirements (apparel and vehicle branding).</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue is recognized as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Over
                                            Time</B>: Fixed weekly service charges and branding-related revenue (e.g., apparel and vehicle
                                            branding) are recognized evenly over the service period.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Point-in-Time</B>:
                                            Activity-based revenue, including stop charges, package charges, and fuel surcharges, is
                                            recognized upon completion of the respective performance obligation, such as completing a
                                            delivery or pickup stop.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognizes revenue on a gross basis
under the ISP Agreement with FedEx. The Company is responsible for fulfilling the promised services, managing operational resources,
and ensuring compliance with FedEx&rsquo;s performance standards. All contracts with FedEx contain a single performance obligation for
each revenue stream, with no separately identifiable promises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Cost of revenue</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of revenue primarily includes direct expenses
incurred to fulfill the Company&rsquo;s obligations under the ISP Agreement with FedEx. These costs consist of (i)&nbsp;driver compensation
and benefits; (ii)fuel expenses; (iii)&nbsp;vehicle maintenance and leasing costs; (iv)insurance premiums related to vehicle and liability
coverage, and (v)other operational expenses such as route management systems, uniforms, and branding compliance. All costs are directly
attributable to the Company&rsquo;s delivery operations and are recognized in the same period as the corresponding revenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Concentration of Credit Risk</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is subject to concentration of credit
risk due to its reliance on a single customer, FedEx, which accounted for 100% of the Company&rsquo;s revenue for all period presented
in this report. Accounts receivable are unsecured and derived from revenue earned under the Company&rsquo;s ISP Agreement with FedEx.
The Company&rsquo;s accounts receivable are typically collected within two days of invoicing, and no allowance for credit loss was recorded
as of November&nbsp;30, 2024 and 2023. The Company&rsquo;s reliance on FedEx represents a significant concentration of revenue and accounts
receivable. This concentration reflects the Company&rsquo;s business model as an exclusive service provider to FedEx under its ISP Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Income Taxes</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Income taxes are accounted for using the asset
and liability method, as prescribed under ASC 740,&nbsp;Income Taxes (&ldquo;ASC 740&rdquo;). Deferred tax assets and liabilities are
recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of
assets and liabilities and their respective tax bases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prior to its acquisition by the Company, JAR
(the Predecessor), as an S-Corporation, was not subject to federal corporate income taxation, and its taxable income, deductions, and
credits were passed through to its stockholders. the Predecessor was subject to the California corporate franchise tax under RTC &sect;
23802, which requires S-Corporations to pay the greater of a minimum tax of $800 or 1.5% of net taxable income derived from California
sources. In accordance with ASC 740-10-15-4, deferred tax assets and liabilities were recognized for state-level temporary differences
and net operating loss (&ldquo;NOL&rdquo;) carryforwards. Following the Acquisition, the Predecessor became a wholly owned subsidiary
of the Company, a C-Corporation, and is subject to corporate income taxation under the Internal Revenue Code and applicable state tax
laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ASC 740 requires a tax position to meet a recognition
threshold before it is recognized in the financial statements. The Company assesses uncertain tax positions based on management&rsquo;s
evaluation of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. This assessment includes
consideration of any potential appeals or litigation processes based on the technical merits of the tax position. Because significant
assumptions and judgments are involved in determining whether a tax benefit is more likely than not to be sustained, actual results may
differ from estimates under different assumptions or conditions. The Company recognizes interest and penalties related to unrecognized
tax benefits as part of the income tax provision in the consolidated statements of income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Loss per share</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company computes loss per share (&ldquo;EPS&rdquo;)
in accordance with ASC 260, &ldquo;Earnings per Share&rdquo; (&ldquo;ASC 260&rdquo;). ASC 260 requires companies with complex capital
structures to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average common shares outstanding
for the period. Diluted EPS presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities,
options, and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential
common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded
from the calculation of diluted EPS. For the period from October 26, 2024 to November 30, 2024, there were no dilutive shares outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net losses for the&nbsp;Predecessor incurred
during the&nbsp;period from December 1, 2023 through October 25, 2024 and the year ended November 30, 2023 were entirely allocable to&nbsp;Predecessor&nbsp;members.
Additionally, due to the impact of the JAR Acquisition, the Company&rsquo;s capital structure for the&nbsp;Predecessor&nbsp;and Successor
periods is not comparable. As a result, the presentation of loss per share for the periods prior to such transaction is not meaningful
and only loss&nbsp;per&nbsp;share for periods subsequent to the JAR Acquisition are presented herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Related parties and transactions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company identifies related parties, and accounts
for and discloses related party transactions in accordance with ASC 850, &ldquo;Related Party Disclosures&rdquo; and other relevant ASC
standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Parties, which can be a corporation or individual,
are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant
influence over the other party in making financial and operational decisions. Companies are also considered to be related if they are
subject to common control or common significant influence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Transactions between related parties commonly
occurring in the normal course of business are considered to be related party transactions. Transactions between related parties are
also considered to be related party transactions even though they may not be given accounting recognition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Segment reporting</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company uses the management approach in determining
reportable operating segments. The management approach considers the internal reporting used by the Company&rsquo;s chief operating decision
maker for making operating decisions about the allocation of resources and the assessment of performance. Management has determined that
the Company operates as a single reportable segment, providing last-mile delivery services under its ISP Agreement with FedEx.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Recently Adopted Accounting Standards</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In October&nbsp;2021, the FASB issued Accounting
Standards Update (&ldquo;ASU&rdquo;)&nbsp;2021-08,<I>&nbsp;Accounting for Contract Assets and Contract Liabilities from Contracts with
Customers (Topic 805)</I>, which requires an acquirer in a business combination to recognize and measure contract assets and contract
liabilities (deferred revenue) from acquired contracts using the revenue recognition guidance in ASC 606,&nbsp;<I>Revenue from Contracts
with Customers</I>. At the acquisition date, the acquirer applies the revenue model as if it had originated the acquired contracts.&nbsp;The
Company adopted this guidance in connection with the acquisition of JAR. in October&nbsp;2024, and accounted for the transaction using
the acquisition method, consistent with the requirements of Topic 805.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Cumulative Effect of Change in Accounting Principle</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective December 1, 2022, JAR adopted the accrual
basis of accounting, transitioning from the cash basis previously used for financial reporting. This change was implemented in preparation
for compliance with GAAP reporting requirements and was applied retrospectively in accordance with ASC 250, Accounting Changes and Error
Corrections.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The cumulative effect of this accounting change
was recognized in retained earnings as of December 1, 2022, with additional adjustments recorded in the year ended November 30, 2023
(Predecessor) to finalize the transition. The key adjustments included:</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Accounts
                                            Receivable Recognition &ndash; Revenue was adjusted to reflect earned but unpaid amounts,
                                            increasing assets.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Interest
                                            Payable Recognition &ndash; Previously unrecorded interest obligations were recognized as
                                            liabilities.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Payroll
                                            Liabilities &ndash; Accrued but unpaid wages and benefits were properly recorded.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Reversal
                                            of Goodwill Amortization &ndash; The Company previously amortized goodwill under tax-based
                                            accounting, which is not permitted under GAAP. This amortization was reversed, increasing
                                            retained earnings.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The cumulative effect of these changes was as
follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">December
                                            1, 2022 (Predecessor): $238,567 decrease in retained earnings due to the initial application
                                            of accrual accounting.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">For
                                            the year ended November 30, 2023 (Predecessor), an additional adjustment of $4,637 was recorded
                                            as a reduction to retained earnings to finalize the transition.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>New Accounting Standards</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November&nbsp;2023, the FASB issued <B>ASU
2023-07</B>, <I>Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures</I>, which requires public entities to
disclose significant expenses for their reportable segments on an interim and annual basis. This update is effective for annual periods
beginning after December&nbsp;15, 2023, and interim periods within fiscal years beginning after December&nbsp;15, 2024, with retrospective
application to prior periods presented. As the Company operates as a single reportable segment, management is currently evaluating the
potential impact of this ASU on the disclosures in the consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December&nbsp;2023, the FASB issued <B>ASU
2023-09</B>,&nbsp;<I>Income Taxes (Topic 740): Improvements to Income Tax Disclosures</I>, which requires public entities to disclose
specific categories in the rate reconciliation and additional details for reconciling items that meet a quantitative threshold. This
update is effective for annual periods beginning after December&nbsp;15, 2024, with early adoption permitted. Management is currently
assessing the potential impact of this ASU on the Company&rsquo;s income tax disclosures in the consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 3 &mdash; LIQUIDITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company was incorporated on April 3, 2024,
with minimal operational activity until October 25, 2024, when it completed the acquisition of JAR, a FedEx ISP. The Company&rsquo;s
financial results for the Successor period ended November 30, 2024, primarily reflect the post-acquisition period from October 26, 2024
through November 30, 2024, a limited timeframe that does not capture the full operational potential of the Company following the acquisition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company incurred a net loss of $300,703 during
the period from October 26, 2024 through November 30, 2024 (Successor), primarily due to one-time acquisition-related expenses and integration
costs. As of November 30, 2024, the Company had a working capital deficit of $8,758, resulting from acquisition-related outflows. However,
the Company benefits from a stable and reliable cash flow structure under its ISP Agreement with FedEx, which provides weekly settlements,
eliminating significant receivables collection risks and ensuring a consistent cash inflow.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To further support its liquidity position, on
February 4, 2025, the Company secured two separate $2.0 million revolving credit facilities from its major stockholders, providing a
total of $4.0 million in available liquidity. These facilities bear an annual interest rate of 12%, with quarterly interest payments
and full principal repayment due at the end of the 24-month term. Additionally, the Company has the option to extend the facilities for
an additional 12-month period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In January 2025, the Company entered into agreements
to acquire two additional FedEx Ground ISP businesses. These acquisitions are expected to contribute to revenue growth and operational
efficiencies, further solidifying the Company&rsquo;s financial position. (See Note 13)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management has assessed the Company&rsquo;s ability
to continue as a going concern in accordance with ASC 205-40, Presentation of Financial Statements &ndash; Going Concern. Despite the
initial losses and working capital deficit, management believes that the Company&rsquo;s consistent cash inflows from FedEx, secured
credit facilities, and planned business expansions mitigate any substantial doubt about its ability to continue operations for at least
the next 12 months. Accordingly, management has concluded that there is no substantial doubt regarding the Company&rsquo;s ability to
continue as a going concern, and these financial statements have been prepared on a going concern basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 4 &mdash; ACCOUNTS RECEIVABLE, NET</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable consists of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Successor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Predecessor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">November&nbsp;30,
    2024</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">November&nbsp;30,
    2023</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 72%; font-size: 10pt; text-align: left">Accounts receivable</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">56,485</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">98,041</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Less: allowance for credit loss</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Accounts receivable, net</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">56,485</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">98,041</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The November 30, 2024 and 2023 accounts receivable
balances have been fully collected as of the date the Company&rsquo;s consolidated financial statements are released.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 5 &mdash; PROPERTY AND EQUIPMENT, NET</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment, net, consists of the
following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Successor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Predecessor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">November&nbsp;30,
    2024</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">November&nbsp;30,
    2023</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 72%; font-size: 10pt">Vehicles</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">295,912</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">1,137,150</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Office equipment</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">14,838</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Subtotal</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">295,912</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,151,988</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(16,122</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(589,211</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Property and equipment, net</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">279,790</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">562,777</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of October 25, 2024, upon acquisition, the
Successor revalued its vehicles to a fair value of $295,912. No additional asset transfers occurred post-acquisition, and the Predecessor&rsquo;s
vehicles, with a historical cost of $1,137,130, were fully retained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation expense was $16,122 for the period
from October 26, 2024 through November 30, 2024 (Successor), and $220,858 and $230,947 for the period from December 1, 2023 through October
25, 2024, and the year ended November 30, 2023 (Predecessor), respectively.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTE
6 </B></FONT><B>&mdash; <FONT STYLE="font-size: 10pt">ACQUISITION</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September&nbsp;16, 2024, the Company entered
into a Stock Purchase Agreement (&ldquo;Purchase Agreement&rdquo;) to acquire 100% of JAR. The transaction terms were subsequently revised
through two amendments. The stock transfer date specified in the second amendment to the Stock Purchase Agreement was October&nbsp;25,
2024, which is considered the acquisition date for accounting purposes. The transaction officially closed on December&nbsp;3, 2024. The
gross purchase price was $1,475,000, as specified in the original Stock Purchase Agreement. Following revisions in the first amendment,
the final consideration was reduced to $1,367,169, paid entirely in cash. As part of the transaction structure, certain assets and liabilities,
including cash, accounts receivable, and outstanding debt, were excluded from the acquisition and remained the responsibility of the
sellers of JAR. In accordance with ASC 805, Business Combinations (&ldquo;ASC 805&rdquo;), the purchase price was allocated to the acquired
assets and assumed liabilities based on their estimated fair values at the acquisition date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company completed the initial purchase price
allocation for the acquisition of JAR as of October&nbsp;25, 2024. Assets (vehicles) acquired were recorded at estimated fair values
as of acquisition date based on management&rsquo;s estimates, available information, and supportable assumptions that management considered
reasonable. No liabilities were assumed per Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As part of the purchase price allocation, a deferred
tax liability (&ldquo;DTL&rdquo;) was recognized for the basis difference in the acquired identifiable intangible asset&mdash;customer
relationships. In accordance with ASC 805-740-25-3, no DTL was recognized for the reported amount of goodwill that is not deductible
for tax purposes. The recognition of the DTL related to customer relationships resulted in a corresponding increase in goodwill, as required
under ASC 805. Although the Company recognized a portion of DTL and goodwill based on its initial assessment, the valuation process is
ongoing, and the final purchase price allocation, including the measurement of goodwill and deferred taxes, may be subject to further
adjustments. The Company will continue to evaluate and refine the allocation based on additional information obtained during the measurement
period in accordance with ASC 805.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The allocation of the purchase price to the major
classes of assets as of October 25, 2024 is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 86%; font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Property and equipment</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">295,912</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Customer relationship</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">552,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Deferred tax liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(149,601</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Goodwill</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">668,858</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Total purchase consideration</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">1,367,169</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of customer relationship was determined
using assumptions that are representative of those typically used by a market participant in estimating fair value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of identified intangible assets,
i.e. customer relationship, and its estimated useful life as of November 30, 2024 are as follow</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">Average</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">Useful Life</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Successor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(in Years)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 72%; font-size: 10pt; text-align: justify">Customer relationship</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">552,000</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 12%; font-size: 10pt; text-align: center">10</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Less: accumulated amortization</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(9,200</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 2.5pt">Total intangible assets, net</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">542,800</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-bottom: 2.5pt">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Amortization expense was $9,200 for the period
from October 26, 2024 through November 30, 2024 (Successor).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 7 &mdash; RELATED PARTY TRANSACTIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>a. Nature of relationship with related parties</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 35%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 62%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Relationship with Our Company</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 10pt">Mr.&nbsp;Huan Liu</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chairman of the Board of Directors</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in"><FONT STYLE="font-size: 10pt">Mr. Raymond June</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">President and Stockholder</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>b. Due to a related party</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Amount due to a related party represents funds
borrowed from the Company&rsquo;s Chairman of the Board of Directors, Mr.&nbsp;Huan Liu, to support investing activities, specifically
for the acquisition of JAR. These payables are unsecured, non-interest bearing, and due on demand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the period from October 26, 2024 through
November 30, 2024 (Successor), the Company borrowed an aggregate of $100,088 from Mr.&nbsp;Huan Liu directly or through his third-party
business contacts. The funds were primarily used for investing activities related to the acquisition of JAR. The Company also made repayments
to Mr.&nbsp;Huan Liu in the amount of $71,050. As a result of these transactions, the balance due to Mr.&nbsp;Huan Liu was $29,038 as
of November&nbsp;30, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>c. Stockholder Loan for Litigation Settlement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 20, 2023, JAR entered into a secured
loan agreement with a stockholder for a principal amount of $166,847, with an annual interest rate of 7.0%. The loan is secured by JAR&rsquo;s
property and equipment and accounts receivable, and required 60 monthly payments of $3,303.77, beginning December 20, 2023. The loan
was used to fund the settlement of a class-action lawsuit (see Note 12- <I>Commitments and Contingencies</I>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the period from December 1, 2023 through
October 25, 2024 (Predecessor), JAR made loan repayments of $33,038, including principal and interests of $23,904 and $9,134 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 22, 2024, the Company and JAR entered
into a second amended stock purchase agreement, establishing October 25, 2024, as the effective acquisition date. In accordance with
the agreement, the remaining balance of the stockholder loan was fully repaid prior to closing of the transaction in November 2024, and
no related party balances remained outstanding as of November 30, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOTE 8- LONG -TERM BORROWINGS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&rsquo;s long-term borrowings consist
of various loans from financial institutions, stockholder loan, and other financing arrangements. The following table summarizes the
Company's outstanding debt balances as of November 30, 2024 (Successor) and November 30, 2023 (Predecessor):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Successor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Predecessor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">November 30,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">November&nbsp;30,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2024</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2023</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 72%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">1<SUP>st</SUP> Source Bank <SUP>(1)</SUP></FONT></TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">238,986</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">Ford Motor Credit <SUP>(2)</SUP></FONT></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">119,302</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">Community Wide Federal Credit Union <SUP>(3)</SUP></FONT></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">83,363</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">Stockholder Loan <SUP>(4)</SUP></FONT></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">166,847</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Scanner Loans <SUP>(5)</SUP></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">38,825</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Total long-term debt</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">647,323</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Current portion of long-term debt</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">225,301</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Non-current portion of long-term debt</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">422,022</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD><TD>Between July 2021 and January 24, 2022, JAR (Predecessor) entered six separate term loans from 1st Source Bank to fund vehicle purchases,
with the vehicles&rsquo; titles pledged as collateral. These loans carried fixed interest rates ranging from&nbsp;5.39% to 5.54%, with
maturity dates extending through February 1, 2027. The fixed monthly payments of these loans, including principal and interest, were $7043.53.
All six loans were fully repaid by JAR stockholders at carrying value upon acquisition closing, releasing the associated vehicle collateral.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)</FONT></TD><TD>In August and September 2020 and April 2021, JAR (Predecessor) obtained six separate term loans from Ford Motor Credit to finance vehicle
                                                                                                                                 purchases. These loans were secured by the purchased vehicles and carried a fixed interest rate ranging from 5.19% to 5.99%, with
                                                                                                                                 maturity dates ranging from July 18, 2025, to April 22, 2026. Fixed monthly payments, including both principal and interest,
                                                                                                                                 totaling $5,471.08 for all loans. Upon the acquisition closing, JAR&rsquo;s stockholders fully repaid the outstanding balances at
                                                                                                                                 their carrying values, releasing the associated vehicle collateral.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)</FONT></TD><TD>During the fourth quarter of 2020, JAR (Predecessor) secured four term loans from Community Wide Federal Credit Union to fund additional
vehicle acquisitions. These loans were collateralized by the purchased vehicles, carried a fixed interest rate of 5.49%, and had maturity
dates extending through December 9, 2025. Monthly payments, covering both principal and interest, amount to $3,643.18 in total. At the
time of the acquisition closing, JAR stockholders repaid the full outstanding balances at their carrying values, and the associated vehicle
liens were released.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(4)</FONT></TD><TD>On November 20, 2023, JAR(Predecessor) entered into a secured loan agreement with a stockholder for a principal amount of $166,847,
with an annual interest rate of 7.0%. The loan is secured by JAR&rsquo;s property and equipment and accounts receivable, and required
60 monthly payments of $3,303.77, beginning December 20, 2023. The loan was used to fund the settlement of a class-action lawsuit.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(5)</FONT></TD><TD>In July 2020 and May 2022, JAR (Predecessor) entered into three separate term loan agreements (the &quot;Scanner Loan&quot;) to finance
technology upgrades. These unsecured loans were interest-free and with fixed monthly payments totaling $3,482.31, with maturity dates
ranging from April 19, 2024, to June 4, 2025. Each loan required fixed monthly payments covering the principal, and all loans were fully
repaid at their carrying value upon acquisition closing, with no remaining obligations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recorded interest expenses of $27,060 and $28,955 for the period from December 1, 2023 to October 25, 2024 (Predecessor) and
the year ended November 30, 2023 (Predecessor), respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 9 &mdash; INCOME TAXES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company and its operating subsidiary in United
States are subject to the tax law of the United States. The Company elected to file income taxes as a corporation for the tax year ended
November&nbsp;30, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px"></TD>
    <TD STYLE="width: 48px"><FONT STYLE="font-size: 10pt"><I>(i)</I></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><I>The components of the income tax provision were as follows:</I></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Successor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Predecessor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For
                                            the<BR>
                                            Period from</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>October 26, 2024 to</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>November
                                            30, 2024</B></P></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For
                                            the <BR>
                                            Period from</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>December 1, 2023 to</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>October
                                            25, 2024</B></P></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For
    the <BR>
    Year Ended<BR>
    November 30, 2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">Current tax provision</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;&nbsp;Federal</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; font-size: 10pt; text-align: justify; padding-bottom: 1pt">&nbsp;&nbsp;State</TD><TD STYLE="width: 2%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">800</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; width: 2%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">800</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">800</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">800</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">800</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">800</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">Deferred tax benefit</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;&nbsp;Federal</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(29,350</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(1,184</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(3,154</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">&nbsp;&nbsp;State</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(13,553</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(42,903</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,184</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(3,154</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 2.5pt">Income tax benefit</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(42,103</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="border-left: Black 1pt solid; font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(384</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(2,354</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>(ii)</I></FONT></TD><TD><I>Reconciliations
                                            of the statutory income tax rate to the effective income tax rate were as follows:</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Successor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Predecessor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For
                                            the<BR>
                                            Period from</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>October 26, 2024 to</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>November
                                            30, 2024</B></P></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For
                                            the <BR>
                                            Period from</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>December 1, 2023 to</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>October
                                            25, 2024</B></P></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For
    the<BR>
    Year Ended<BR>
    November 30, 2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; font-size: 10pt; text-align: justify">Federal statutory tax rate</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">21.0</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">%</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">State statutory tax rate</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3.0</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1.1</TD><TD STYLE="font-size: 10pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Non-deductible expenses</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(11.7</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)%</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">0.5</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 2.5pt">Effective tax rate</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">12.3</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">0.5</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">1.1</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px"><FONT STYLE="font-size: 10pt"><I>(iii)</I></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><I>Deferred tax liabilities were composed of the following:</I></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Successor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Predecessor</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">November&nbsp;30,
    2024</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">November&nbsp;30,
    2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Deferred tax assets:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 68%; font-size: 10pt; text-align: left; padding-left: 7.1pt">Net operating loss carry-forwards</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">40,265</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">5,437</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 7.1pt">Depreciation expense</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,400</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 7.1pt">Total deferred tax assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">42,665</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5,437</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Deferred tax liabilities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;Customer relationship recognized upon JAR Acquisition</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(149,363</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 7.1pt">Total deferred tax liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(149,363</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Total deferred tax assets(liabilities), net</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(106,698</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">5,437</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Valuation Allowance</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognizes income taxes using the
asset and liability method. We establish deferred tax assets and liabilities for temporary differences between the financial reporting
basis and the tax basis of assets and liabilities, using the tax rates expected to be in effect when the temporary differences reverse.
Deferred tax assets are also recognized for tax attributes such as net operating loss carryforwards. Realization of our gross deferred
tax asset depends on our ability to generate sufficient taxable income of the appropriate character within the carryforward periods of
the jurisdictions in which the net operating and capital losses, deductible temporary differences and credits were generated. When we
assess our ability to realize deferred tax assets, we consider all available evidence and we record valuation allowances to reduce deferred
tax assets to the amounts that management conclude are more-likely-than-not to be realized. As of November&nbsp;30, 2024, the Company
believes that a valuation allowance is not needed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Uncertain Tax Position</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognize income tax benefits associated
with uncertain tax positions, when, in our judgment, it is more likely than not that the position will be sustained upon examination
by a taxing authority. For a tax position that meets the more likely than not recognition threshold, we initially and subsequently measure
the tax benefit as the largest amount that we judge to have a greater than 50% likelihood of being realized upon ultimate settlement
with the taxing authority. The Company has concluded that there are no uncertain tax positions requiring recognition in its financial
statements as of November&nbsp;30, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>State Income Tax</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the extent there is state nexus based on sales,
location of employees, inventory, and/or other property, a tax provision is being prepared. In 2024, the Company identified nexus in
CA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTE
10 </B></FONT><B>&mdash; CONCENTRATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Credit risk</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of November&nbsp;30, 2024, all of the Company&rsquo;s
cash was on deposit at financial institutions in the U.S., which are insured by the Federal Deposit Insurance Corporation (FDIC) subject
to applicable insurance limits. The Company has not experienced any losses in such accounts. Accounts receivable are unsecured and derived
entirely from revenue earned under the Company&rsquo;s ISP Agreement with FedEx.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Concentrations</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s sole customer, FedEx, accounted
for 100% of the Company&rsquo;s revenue for the period from October 26, 2024 through November 30, 2024 (Successor), the period from December
1, 2023 through October 25, 2024, and the year ended November 30, 2023 (Predecessor). As of November&nbsp;30, 2024 and 2023, all accounts
receivable were derived from FedEx. The revenue and accounts receivable concentration reflects the Company&rsquo;s business model as
an exclusive service provider under its ISP Agreement with FedEx.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 11 &mdash; STOCKHOLDERS&rsquo; EQUITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Common Stock</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company was incorporated on April&nbsp;3,
2024, under the laws of the State of Delaware. Under the Company&rsquo;s amended and restated articles of incorporation on December&nbsp;19,
2024, the total authorized number of shares of common stock is 1,000,000,000 with par value of $0.000001, which consists of 900,000,000
shares of Class&nbsp;A common stock and 100,000,000 shares of Class&nbsp;B common stock. The Company also has the authority to issue
5,000,000 shares of preferred stock as deemed necessary with a par value per share equal to the par value per share of the Class&nbsp;A
common stock. Holders of Class&nbsp;A common stock and Class&nbsp;B common stock have the same rights except for voting and conversion
rights. In respect of matters requiring the votes of stockholders, each share of Class&nbsp;A common stock is entitled to one vote, and
each share of Class&nbsp;B common stock is entitled to 15 votes. Class&nbsp;B common stock is convertible into Class&nbsp;A common stock
at any time after issuance at the option of the holder on a one-to-one basis. Class&nbsp;A common stock is not convertible into shares
of any other class. The numbers of authorized and outstanding common stock were retroactively applied as if the transaction occurred
at the beginning of the period presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August&nbsp;27, 2024, the Company entered
into two separate subscription agreements with two investors, Eternal Blessing Holdings Limited and Centurion Tech Holdings Limited (the
 &ldquo;Investors&rdquo;), whereby the Company agreed to sell, and each Investor agreed to purchase, 500,000 shares of Class&nbsp;A common
stock at a purchase price of $0.90 per share. These Investors are unrelated parties to the Company. The gross proceeds from each subscription
agreement were $450,000, respectively, resulting in total proceeds of $900,000. As of November&nbsp;30,2024, all proceeds were fully
received by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Reverse Stock Split</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December&nbsp;19, 2024, the Company&rsquo;s
board of directors approved and adopted the Amended and Restated Certificate of Incorporation, pursuant to Sections 242 and 245 of the
Delaware General Corporation Law (DGCL), which authorized a reverse stock split at a ratio of one for six. The Company subsequently filed
the Amended and Restated Certificate of Incorporation with the State of Delaware, and the Reverse Stock Split became effective at 12:00
AM, Eastern Time, on December&nbsp;23, 2024. All share information included in this financial statement has been retrospectively adjusted
to reflect the Reverse Stock Split as if it had occurred at the beginning of the earliest period presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of November&nbsp;30, 2024, there were 8,750,005
shares of Class&nbsp;A common stock and 4,166,667 shares of Class&nbsp;B common stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTE
12 </B></FONT><B>&mdash; COMMITMENTS AND CONTINGENCIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From time to time, the Company may be a party
to various legal actions arising in the ordinary course of business. The Company accrues costs associated with these matters when they
become probable and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as
incurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 26, 2021, a class action lawsuit was
filed against JAR(Predecessor) and Raymond Paul June in the Superior Court of California, County of Los Angeles, by a former employee,
Joaquin Rojas. The lawsuit alleged various wage and hour violations, including failure to pay wages, overtime, and meal and rest break
violations, as well as claims under the California Private Attorneys General Act (&ldquo;PAGA&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 6, 2023, the Superior Court of California
granted final approval of a settlement agreement between the parties, under which JAR agreed to pay a Gross Settlement Amount of $165,000.
The settlement covered payments to class members, attorney fees, and a $10,000 PAGA penalty. Following court approval, JAR fully funded
the settlement account and, as of December 11, 2023, settlement payments were distributed to the eligible class members, attorneys, and
other recipients.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June 8, 2024, any unclaimed settlement
funds will be remitted to the Controller of the State of California under the Unclaimed Property Law (California Civil Code &sect; 1500).
With this, the settlement process is considered completed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of November&nbsp;30, 2024, the Company did
not have any other material legal claims or litigation that, individually or in aggregate, could have a material adverse impact on the
Company&rsquo;s consolidated financial position, results of operations, and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 13 &mdash; SUBSEQUENT EVENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 18, 2025, the Company entered into
a stock purchase agreement with Wandun Enterprise Inc (&ldquo;Wandun&rdquo;), a pickup and delivery service provider to FedEx, and all
stockholders of Wandun, to acquire the 100% equity interest in Wandun from all stockholders of Wandun, for a consideration of $4.3 million,
to be paid after February 7, 2026. On the same day, the Company entered into a stock purchase agreement with WJ Management Inc. (&ldquo;WJ&rdquo;)
and all stockholders of WJ, to acquire the 100% equity interest in WJ from all stockholders of WJ, for a consideration of $1.65 million,
to be paid after February 7, 2026. On the same day, the Company entered into two business operation agreements to entrust Wandun&rsquo;s
business operation and WJ&rsquo;s business operation to WJ for one year from February 8, 2025, and the Company agreed to pay all the
expenses incurred by operating Wandun&rsquo;s business and WJ&rsquo;s business.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 4, 2025, the Company secured two
separate $2.0 million revolving credit facilities from its two major stockholders, providing a total of $4.0 million in available liquidity.
These facilities bear an annual interest rate of 12%, with quarterly interest payments and full principal repayment due at the end of
the 24-month term. Additionally, the Company has the option to extend the facilities for an additional 12-month period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These consolidated financial statements were
approved by management and available for issuance on [ ], and the Company has evaluated subsequent events through this date. No subsequent
events required adjustments to or disclosure in these consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Red">Until
[&#9679;], 202</FONT><FONT STYLE="color: Red">5 (the 25th day after the date of this prospectus), all dealers that effect transactions
in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to the
dealers&rsquo; obligation to deliver a prospectus when acting as underwriters and with respect to their unsold allotments or subscriptions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>[&#9679;] Shares of Class&nbsp;A Common
Stock</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm254980d1_drssp4img001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ELITE EXPRESS HOLDING INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prospectus
dated [&#9679;], 202</FONT>5</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART&nbsp;II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION NOT REQUIRED IN PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 13. OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth the costs and
expenses payable by us in connection with the sale of the Class&nbsp;A common stock being registered. All amounts shown are estimates
except the SEC registration fee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC Registration Fee</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;]</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FINRA Filing Fee</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;]</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 87%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exchange Listing Fee</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 1%">[&#9679;]</TD>
    <TD STYLE="text-align: right; width: 1%">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal Fees and Other Expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;]</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounting Fees and Expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;]</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Printing Expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;]</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transfer Agent Fees and Expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;]</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Non-accountable expenses to underwriters</TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD COLSPAN="2" STYLE="text-align: right">[&#9679;]</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Miscellaneous Expenses</FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;]</FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total Expenses</B></FONT></TD>
    <TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;]</FONT></TD>
    <TD STYLE="padding-bottom: 4pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 14. INDEMNIFICATION OF DIRECTORS AND OFFICERS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Sections 145 of the Delaware General Corporation
Law provides that a corporation may indemnify directors and officers as well as other employees and individuals against expenses, including
attorneys&rsquo; fees, judgments, fines, and amounts paid in settlement in connection with specified actions, suits, and proceedings
whether civil, criminal, administrative, or investigative, other than a derivative action by or in the right of the corporation, if they
acted in good faith and in a manner they reasonably believed to be in or not opposed to the best interests of the corporation and, with
respect to any criminal action or proceeding, had no reasonable cause to believe their conduct was unlawful. A similar standard is applicable
in the case of derivative actions, except that indemnification extends only to expenses, including attorneys&rsquo; fees, incurred in
connection with the defense or settlement of such action and the statute requires court approval before there can be any indemnification
where the person seeking indemnification has been found liable to the corporation. The statute provides that it is not exclusive of other
indemnification that may be granted by a corporation&rsquo;s certificate of incorporation, bylaws, disinterested director vote, stockholder
vote, agreement, or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our certificate of incorporation provides that
we shall indemnify, to the fullest extent permitted by the Delaware General Corporation Law, as the same many be amended and supplemented,
any and all persons whom it shall have power to indemnity under said section from and against any and all of the expenses, liabilities
or other matters referred to in or covered by said section. We shall advance expenses to the fullest extent permitted by said section.
Such right to indemnification and advancement of expenses shall continue as to a person who has ceased to be a director, officer, employee,
or agent and shall inure to the benefit of the heirs, executors, and administrators of such a person. The indemnification and advancement
of expenses provided for herein shall not be deemed exclusive of any other rights to which those seeking indemnification or advancement
of expenses may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors, or otherwise. Our bylaws also
have similar provisions on indemnification and advancement of expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">These indemnification
provisions may be sufficiently broad to permit indemnification of the registrant&rsquo;s officers and directors for liabilities (including
reimbursement of expenses incurred) arising under the Securities Act of 1933 (the &ldquo;Securities Act&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 15. RECENT SALES OF UNREGISTERED SECURITIES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the past three years, we have issued the
following securities which were not registered under the Securities Act. We believe that each of the following issuance was exempt from
registration under the Securities Act in reliance on Regulation D under the Securities Act or pursuant to Section&nbsp;4(2)&nbsp;of the
Securities Act regarding transactions not involving a public offering or in reliance on Regulation S under the Securities Act regarding
sales by an issuer in offshore transactions. No underwriters were involved in these issuances of securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<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="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif">Securities/Purchaser</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Date of
    Issuance</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Number of<BR> Securities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Consideration</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Class&nbsp;A common stock</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 25%; text-align: left">Huan Liu</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 22%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April&nbsp;23,
                                            2024</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 24%; text-align: center">4,166,670 Class&nbsp;A common stock</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 22%; text-align: right">25.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Huan Liu</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April&nbsp;23,
                                            2024</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">4,166,667 Class&nbsp;B common stock</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">25.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Hillhouse Venture Capital Limited</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July&nbsp;5,
                                            2024</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">766,667 Class&nbsp;A common stock</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">460.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Hawkeyes Investment Ltd</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July&nbsp;5,
                                            2024</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">766,667 Class&nbsp;A common stock</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">460.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Shouqian Jiang</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July&nbsp;3,
                                            2024</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">766,667 Class&nbsp;A common stock</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">460.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Jiping Yin</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July&nbsp;3,
                                            2024</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">766,667 Class&nbsp;A common stock</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">460.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Zhaoxia Song</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July&nbsp;3,
                                            2024</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">516,667 Class&nbsp;A common stock</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">310.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Centurion Tech Holdings</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">November&nbsp;7,
                                            2024</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">500,000 Class&nbsp;A common stock<BR></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">450,000.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Eternal Blessing Holdings</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">November&nbsp;22,
                                            2024</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">500,000 Class&nbsp;A common stock <BR></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">450,000.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 16. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a)&nbsp;Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">See Exhibit&nbsp;Index beginning on page&nbsp;II-5 of this registration
statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(b)&nbsp;Financial Statement Schedules</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Schedules have been omitted because the information
required to be set forth therein is not applicable or is shown in the Consolidated Financial Statements or the Notes thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 17. UNDERTAKINGS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Insofar as indemnification for liabilities arising
under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing
provisions, or otherwise, the registrant has been advised that in the opinion of the U.S. Securities and Exchange Commission such indemnification
is against public policy as expressed in the Securities Act and is therefore unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer, or controlling
person of the registrant in the successful defense of any action, suit, or proceeding) is asserted by such director, officer, or controlling
person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned registrant hereby undertakes
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">(1)&nbsp;For purposes of
determining any liability under the Securities Act, the information omitted from the form of prospectus filed as part of this registration
statement in reliance upon Rule&nbsp;430A and contained in a form of prospectus filed by the registrant under Rule&nbsp;424(b)(1)&nbsp;or
(4)&nbsp;or 497(h)&nbsp;under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared
effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">(2)&nbsp;For the purpose
of determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus shall be deemed
to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">(3)&nbsp;For the purpose
of determining liability under the Securities Act to any purchaser, each prospectus filed pursuant to Rule&nbsp;424(b)&nbsp;as part of
a registration statement relating to an offering, other than registration statements relying on Rule&nbsp;430B or other than prospectuses
filed in reliance on Rule&nbsp;430A, shall be deemed to be part of and included in the registration statement as of the date it is first
used after effectiveness provided, however, that no statement made in a registration statement or prospectus that is part of the registration
statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is
part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify
any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such
document immediately prior to such date of first use.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">(4)&nbsp;For the purpose
of determining any liability of the registrant under the Securities Act to any purchaser in the initial distribution of the securities,
the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration
statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold
to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will
be considered to offer or sell such securities to such purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">(i)&nbsp;Any preliminary
prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule&nbsp;424;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">(ii)&nbsp;Any free writing
prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned
registrant;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">(iii)&nbsp;The portion of
any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities
provided by or on behalf of the undersigned registrant; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">(iv)&nbsp;Any other communication
that is an offer in the offering made by the undersigned registrant to the purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf
by the undersigned, thereunto duly authorized in the City of [&#9679;], State of [&#9679;], on [&#9679;], 2025.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Elite Express Holding Inc.</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yidan Chen</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer, President, and Director</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Executive Officer)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>Power of Attorney</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KNOW
ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints </FONT>Yidan Chen as his
or her true and lawful attorney-in-fact and agent with full power of substitution, for him or her in any and all capacities, to sign
any and all amendments to this registration statement (including post-effective amendments or any abbreviated registration statement
and any amendments thereto filed pursuant to Rule&nbsp;462(b)&nbsp;under the Securities Act of 1933 increasing the number of securities
for which registration is sought), and to file the same, with all exhibits thereto and other documents in connection therewith, with
the Securities and Exchange Commission, granting unto said attorney-in-fact, proxy, and agent full power and authority to do and perform
each and every act and thing requisite and necessary to be done in connection therewith, as fully for all intents and purposes as he
or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact, proxy and agent, or his substitute,
may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Pursuant to the requirements
of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates
indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 30%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Signature</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 38%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 30%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer, President, and Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;], 202</FONT>5</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Yidan Chen</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Executive Officer)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Financial Officer</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;], 202</FONT>5</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Robert Cook</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Principal Financial and Accounting Officer)</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board of Directors</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;], 202</FONT>5</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Huan Liu</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 15%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 84%; padding-bottom: 1pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.1*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of
    Underwriting Agreement</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.1*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate
    of Incorporation</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.2*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bylaws</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4.1*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen
    Stock Certificate</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>5.1*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion
    of Hunter Taubman Fischer&nbsp;&amp; Li LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.1*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employment
    Agreement dated January&nbsp;7, 2025 by and between Yidan Chen, the Registrant&rsquo;s CEO, and the Registrant</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.2*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employment
    Agreement dated November&nbsp;1, 2024 by and between Robert Cook, the Registrant&rsquo;s CFO, and the Registrant</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.3*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of
    Indemnification Agreement by and between the Registrant&rsquo;s directors or officers and the Registrant</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.4*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
    Offer Letter dated June&nbsp;29, 2024 by and between Huan Liu, the Registrant&rsquo;s chairman of the board of directors, and the
    Registrant</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.5*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
    Offer Letter dated January 23, 2025 by and between Francis A. Braun III, the Registrant&rsquo;s director, and the Registrant</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.6*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
    Offer Letter dated January 22, 2025 by and between Ninoslav Vasic, the Registrant&rsquo;s director, and the Registrant</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.7*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
    Offer Letter dated December 10, 2024 by and between Adam Eilenberg, the Registrant&rsquo;s director, and the Registrant</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><B>10.8*</B></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">Director Offer Letter dated January 7, 2025 by and between Yidan Chen,
the Registrant&rsquo;s director, and the Registrant</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.9*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent
    Service Provider Agreement by and between FedEx and the Registrant, dated October 12, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.10*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consulting
    Agreement by and between WJ Management Inc and the Registrant, dated September 16, 2024, amended on January 14, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.11*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock
    Purchase Agreement by and between WJ Management Inc and the Registrant, dated January 18, 2025, amended on February 7, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.12*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock
    Purchase Agreement by and between Wandun Enterprise Inc and the Registrant, dated January 18, 2025, amended on February 7, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.13*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Business
    Operation Agreements by and between WJ Management Inc and the Registrant, dated January 18, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.14*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Commission
    Fee Agreement by and between WJ Management Inc and the Registrant, dated September 16, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.15*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Business
    Operation Agreement by and between Wandun Enterprise Inc and the Registrant, dated January 18, 2025, amended on February 7, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.16*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Business
    Operation Agreement by and between WJ Management Inc and the Registrant, dated January 18, 2025, amended on February 7, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.17*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revolving
    Line of Credit Agreement by and between Eternal Blessing Holdings Limited and the Registrant, dated February 4, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.18*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revolving
    Line of Credit Agreement by and between Centruion Tech Holdings Limited and the Registrant, dated February 4, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.19*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment
    Confirmation and Assignment Agreement by and between Ginp Capital LLC, Huan Liu, and the Registrant, dated November 30, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.20*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment
    Confirmation and Assignment Agreement by and between Luxury Unlimited Group Inc., Huan Liu, and the Registrant, dated November 30,
    2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.21*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment
    Confirmation and Assignment Agreement by and between Yan Bai, Huan Liu, and the Registrant, dated November 30, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.22*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transfer
    of Debt Agreement by and between Yan Bai, Huan Liu, and the Registrant, dated December 2, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.23*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transfer
    of Debt Agreement by and between Yong Lin, Huan Liu, and the Registrant, dated November 30, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>14.1*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Code
    of Business Conduct and Ethics of the Registrant</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>19.1*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insider
    Trading Policy of the Registrant</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>21.1*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">List
    of Subsidiaries</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>23.1*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent
    of Golden Eagle CPAs LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>23.2*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent
    of Hunter Taubman Fischer&nbsp;&amp; Li LLC (included in Exhibit&nbsp;5.1)</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>24.1*</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Power
    of Attorney (included on signature page)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Audit Committee
    Charter</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.2*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Compensation
    Committee Charter</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.3*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Nomination
    and Corporate Governance Committee Charter</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.4*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Adam Eilenberg</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.5*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Ninoslav Vasic</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.6*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Francis A. Braun
    III</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">107*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filing Fee Table&nbsp;&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* To be filed by amendment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
