Company: EGG
Filing Date: 2025-03-04
Form Type: DRS/A
Source: 0001493152-25-008991
Chunk: 191

Company: ENIGMATIG LTD
Filing Date: 2025-03-04
Form: DRS/A
Chunk 191
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 each quarter to identify whether events or changes in circumstances, principally decreases in the quoted (unadjusted) prices on the active exchange, indicate that it is more likely than not that any of the assets are impaired. In determining if an impairment has occurred, the Company considers the lowest price of one USDT quoted on the active exchange at any time since acquiring the USDT held by the Company. If the carrying value of a USDT exceeds that lowest price, an impairment loss has occurred with respect to that USDT in the amount equal to the difference between its carrying value and such lowest price.

Impairment losses are recognized in the period in which the impairment occurs and are reflected within “Digital asset impairment losses (gains on sale), net” in the Company’s consolidated statements of operations and comprehensive income. The impaired digital assets are written down to their fair value at the time of impairment and this new cost basis will not be adjusted upward for any subsequent increase in fair value. Gains (if any) are not recorded until realized upon sale, at which point they are presented net of any impairment losses in the Company’s consolidated statements of operations and comprehensive income. In determining the gain to be recognized upon sale, the Company calculates the difference between the sales price and carrying value of the USDT sold immediately prior to sale.

Property and equipment, net

Plant and equipment are stated at cost less accumulated depreciation and impairment if applicable. The Company computes depreciation using the straight-line method over the estimated useful lives of the assets as follows:

| Computer    
 equipment   |     | 1                     
 years                 |
| Furniture   
 & fitting   |     | 3                     
 years                 |
| Leasehold   
 improvement |     | Number                
 of years on the lease |
| Office      
 equipment   |     | 1                     
 years                 |

The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the consolidated statement of income. Expenditures for maintenance and repairs are charged to expense as incurred, while additions renewals and betterments, which are expected to extend the useful life of assets, are capitalized. The Company also re-evaluates the periods of depreciation to determine whether subsequent events and circumstances warrant revised estimates of useful lives.

| F-9 |

<div align='center'>ENIGMATIG LIMITED (FORMERLY KNOWN AS DESFRAN HOLDINGS LIMITED)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

| 2 | Summary                                        
 of significant accounting policies (continued)