Company: NUTR
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001641172-25-025984
Chunk: 147

Company: NUSATRIP Inc
Filing Date: 2025-08-29
Form: 10-Q
Item: Item 2
Chunk 147
---
 in online ticketing and reservation services.

Upon
the completion of the Reorganization on May 22, 2023, these entities, through the Company, are under common control by the same beneficiary
party, SOPA. Accordingly, the combination has been treated as entities under common control and thus the current capital structure has
been retroactively presented in prior periods, from January 1, 2021, as if such structure existed at that time and in accordance with
ASC 805-50-45-5, the entities under common control are presented on a combined basis for all periods to which such entities were under
common control.

Immediately
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 and 2024.

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.

39

Financial
Condition

Results