Company: HNIT
Filing Date: 2025-07-14
Form Type: 10-Q
Source: 0001641172-25-018889
Chunk: 34

Company: Huineng Technology Corp
Filing Date: 2025-07-14
Form: 10-Q
Item: Item 8
Chunk 34
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s Pursuant to SEC Staff Accounting Bulletin
No. 122, which removes certain SEC guidance related to obligations to safeguard crypto-assets. The Company does not engage in activities
involving crypto-assets; therefore, the adoption of this ASU is not expected to have a material impact on its financial statements.

The
Company reviews new accounting standards as issued. Management has not identified any other new standards that it believes will have
a significant impact on the Company’s financial statements.

    F-7

3.
GOING CONCERN UNCERTAINTIES

The
accompanying financial statements have been prepared assuming that the Company will continue as a going concern. For the six months ended
May 31, 2025, the Company incurred a net loss of $21,036 and used cash in operating activities of $1,584. As of May 31, 2025, the Company
had an accumulated deficit of $65,780.

The
Company’s cash position may not be significant enough to support the Company’s daily operations. While the Company believes
in the viability of its strategy and in its ability to raise additional funds, there can be no assurances to that effect. The Company’s
ability to continue as a going concern is dependent upon its ability to improve profitability and the ability to acquire funding through
public offering. If funding from public offering is insufficient, then the Company shall rely on the financial support from its controlling
shareholder.

These
and other factors raise substantial doubt about the Company’s ability to continue as a going concern within one year after the
date that financial statements are issued. These financial statements do not include any adjustments to reflect the possible future effects
on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not
being able to continue as a going concern.

4.
PREPAYMENTS AND DEPOSIT

SCHEDULE OF PREPAYMENTS AND DEPOSIT 

    As of May 31, 2025 (Unaudited)  
    As of November
                                                                                                                                                                                                                                                                                                                   30, 2024 (Audited) 

    Prepaid expenses 
     7,284  
     8,391 
  
    Rental deposit 
     63  
     63 
  
    Total 
    $7,347  
    $8,454 

Prepaid
expenses as of May 31, 2025 and November 30, 2024 represent the payments made for Edgar filing fee