Company: EGG
Filing Date: 2025-04-22
Form Type: F-1/A
Source: 0001641172-25-005604
Chunk: 113

Company: ENIGMATIG LTD
Filing Date: 2025-04-22
Form: F-1/A
Chunk 113
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 offer, hiring additional employees and opening new offices in additional jurisdictions. In particular, we aim to hire additional employees with IT expertise and additional business relationship managers who will help with business development and increase our capacity to offer our traditional licensing services. We currently plan to hire an additional four business relationship managers within a year of our listing.

Competition

We offer a range of services in the financial licensing solutions industry, the corporate secretarial services industry and, increasingly, in the financial technology (including regulatory technology) industry. The markets for services in these industries is relatively fragmented and highly competitive. With respect to services provided to small- and medium-sized corporate clients, we largely compete with small, single-office independent professionals and professional service firms such as local law firms and accountancy firms. We believe the principal competitive factors in such industries include industry expertise, breadth and depth of service offerings, quality of services, strength of client relationship, local presence, recognition of brand and marketing and selling skills.

Employees

We had 17, 14 and 15 full time employees (including Directors) as of September 30, 2022, 2023 and 2024, respectively. The following table sets forth the numbers of our full-time employees, categorized by function, as of September 30, 2024:

| Function                 |     | Number       
 of Employees |    |     | Percentage                   
 of Total Number of Employees |       |   |
| Sales, marketing         
 and business development |     |              |  8 |     |                              |  53.3 | % |
| Administration           |     |              |  5 |     |                              |  33.3 | % |
| Finance and accounting   |     |              |  2 |     |                              |  13.3 | % |
| Total                    |     |              | 15 |     |                              | 100.0 | % |

| 65 |

The following table sets forth the number of our full-time employees by location as of September 30, 2024:

| Location       |     | Number       
 of Employees |    |     | Percentage                   
 of Total Number of Employees |       |   |
| Singapore      |     |              |  8 |     |                              |  53.3 | % |
| Mainland China |     |              |  3 |     |                              |  20.0 | % |
| United Kingdom |     |              |  2 |     |                              |  13