Annual Report for Fiscal Year Ending October 31, 2025 (Form 10-K)

Management's Discussion and Analysis of Financial Condition and Results of Operations

The following discussion should be read in conjunction with our financial statements, including the notes thereto, appearing elsewhere in this annual report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Our audited financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles.

Results of Operations

Revenue

During the year ended October 31, 2025 and 2024, we generated revenues of $3,478,036 and $52,800, respectively. Our revenues during the year ended October 31, 2025 consist solely of our new business of smartphones trades in the Asian market, while our revenues during the year ended October 31, 2024 consist solely of IT consulting services.

Net Income (Loss)

Our net income (loss) for the year ended October 31, 2025 and 2024 were $413,355 and $(32,557), respectively. Operating expenses consist of mainly lease expense, audit fees, professional fees, and administration expenses.

Liquidity and Capital Resources and Cash Requirements

As of October 31, 2025, our total assets were $1,375,643, consisting of cash and cash equivalents of $16,610, merchant receivable of $164,125, related party receivable of $5,121, prepaid and other receivables of $2,168, inventories of $802,159, note receivable of $238,143, rent deposits of $24,356, prepayments of $47,512, property and equipment, net of $2,011, and right of use asset of $73,438.

As of October 31, 2025, our total liabilities were $851,408, consisting of mainly related party payable of $51,382, accrued liabilities of $14,232, deferred revenue of $615,904, taxation payables of $91,049, notes payable of $5,403, and operating lease liability - short term of $62,657 and operating lease liability - long term of $10,781.

As of October 31, 2024, our total assets were $116,861 consisting of cash and cash equivalents of $107,534, prepaid and other receivable of $2,168 and right of use asset of $7,159. As of October 31, 2024, our total liabilities were $7,545 consisting of accounts payable $386 and operating lease liability - short term of $7,159.

The following is a summary of our cash flow activities:

		October 31, 2025				October 31, 2024
Net cash provided by/ (used in) operating activities		$	142,617			$	(54,565	)
Net cash provided used in investing activities			(240,508	)			-
Net cash provided by/ (used in) financing activities			(5,403	)			140,000
Effect of exchange rate changes on cash and cash equivalents			1,564				-
Net change in cash, cash equivalents and restricted cash		$	(90,924	)		$	85,435

Cash Flows from Operating Activities

During the year ended October 31, 2025, cash provided by operating activities reflected net income of $413,355 which was increased for non-cash depreciation expense of $354 and non-cash amortization of right-of-use assets of $61,103.

Key components of working capital include: Merchant receivable increased by $164,125, inventories increased by $802,159, and deferred revenue increased by $615,904, primarily due to an increase in the sale of smartphones.

During the year ended October 31, 2024, we have generated negative cash flows from operating activities of $54,565, consisting of mainly increase in accounts receivable and decrease in accounts payable, deferred revenue and accrued liabilities.

Cash Flows from Investing Activities

During the year ended October 31, 2025, we have used in investing activities of $240,508, which consists of issuance of notes receivable (non-trade) to a non-related party and purchase of property and equipment.

We have not generated cash flows from investing activities during the twelve months ended October 31, 2024.

Cash Flows from Financing Activities

During the year ended October 31, 2025, we have used in financing activities of $5,403, consisting of proceeds from promissory notes, repayment of promissory notes, proceeds from promissory notes-related party, and repayment of promissory notes - related party.

During the year ended October 31, 2024, we generated positive cash flows from financing activities of $140,000 by issuance of common stock of $140,000.

Critical Accounting Policies

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Revenue Recognition

The Company recognizes revenue in accordance with Accounting Standards Codification ("ASC") 606, "Revenue from Contracts with Customers". The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract with the customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4. Allocate the transaction price. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

Recent Accounting Pronouncements

The Company has reviewed all the recent accounting pronouncements issued to date of the issuance of these financial statements and does not believe any of these pronouncements will have a material impact on the Company's financial reporting.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements including arrangements that would affect our liquidity, capital resources, market risk support and credit risk support or other benefits.