Company: NUTR
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001641172-25-025984
Chunk: 11

Company: NUSATRIP Inc
Filing Date: 2025-08-29
Form: 10-Q
Item: Item 1
Chunk 11
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before and as contemplated by the Reorganization, the Company is legally formed and ultimately controlled by SOPA. As such, the accompanying
carve-out combined and consolidated financial statements include the assets, liabilities, revenue, expenses and cash flows that are directly
attributable to the travel agency business before the Reorganization. The carve-out combined and consolidated financial statements are
presented as if the Company had been in existence and the reorganization had been in effect during the years ended December 31, 2021,
2022, 2023, 2024 and June 30, 2025.

The
excess or deficit arise from elimination between capital stock of subsidiaries and investment cost of holding companies arise from group
restructuring exercise are charged to additional paid in capital and other equity is consolidated in effect during the years ended December
31, 2024 and 2023.

The
assets and liabilities have been stated at historical carrying amounts. Only those assets and liabilities that are specifically identifiable
to the travel agency business are included in the Company’s combined and consolidated carve-out financial statements.

All
revenues, cost of revenues and operating expenses attributable to travel agency business are reflected in accompanying carve-out combined
and consolidated financial statements.

Income
tax liability is calculated based on a separate return basis as if SOPA had filed separate tax returns before the completion of the Reorganization.
Immediately following the Reorganization, the Company began to file separate tax returns and report the income tax based on the actual
tax return of each legal entity under its respective tax regime.

The
consolidation of Nusatrip Inc and its subsidiaries has been accounted for at historical cost and prepared on the basis as if the aforementioned
transactions had become effective as of the beginning of the first period, January 1, 2021, presented in the accompanying carve-out combined
and consolidated financial statements.

NOTE
2 — GOING CONCERN AND LIQUIDITY

The
accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As shown in the financial
statements, the Company has a negative operating cash flow of $1,506,976, working capital deficit of $3,826,974 and accumulated deficits
of $5,908,407 as of June 30, 2025 that raise substantial doubt about its ability to continue as a going concern. In assessing the going
concern, management and the Board has considered the following:

    1)
    Cash
    and cash