Company: HNIT
Filing Date: 2025-01-23
Form Type: 10-K
Source: 0001493152-25-003324
Chunk: 126

Company: Huineng Technology Corp
Filing Date: 2025-01-23
Form: 10-K
Item: Item 5
Chunk 126
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 the commissions payable
to both the broker-dealer and the registered representative, current quotations for the securities and, if the broker-dealer is the sole
market-maker, the broker-dealer must disclose this fact and the broker-dealer’s presumed control over the market. Finally, monthly
statements must be sent disclosing recent price information for the penny stock held in the account and information on the limited market
in penny stocks. Consequently, the “penny stock” rules may restrict the ability of broker-dealers to sell our Common Stock
and may affect the ability of investors to sell their Common Stock in the secondary market.

In
addition to the “penny stock” rules promulgated by the Securities and Exchange Commission, the Financial Industry Regulatory
Authority (“FINRA”) has adopted rules that require that in recommending an investment to a customer, a broker-dealer must
have reasonable grounds for believing that the investment is suitable for that customer. Prior to recommending speculative low-priced
securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain information about the customer’s
financial status, tax status, investment objectives and other information. Under interpretations of these rules, FINRA believes that
there is a high probability that speculative low-priced securities will not be suitable for at least some customers. The FINRA requirements
make it more difficult for broker-dealers to recommend that their customers buy our common stock, which may limit the investors’
ability to buy and sell our stock.

Dividends

Any
future determination as to the declaration and payment of dividends on shares of our Common Stock will be made at the discretion of our
board of directors out of funds legally available for such purpose. We are under no contractual obligations or restrictions to declare
or pay dividends on our shares of Common Stock. In addition, we currently have no plans to pay such dividends. Our board of directors
currently intends to retain all earnings for use in the business for the foreseeable future.

8

Recent
Sales of Unregistered Securities

No
securities have been sold by the Company during the period covered by this Form 10-K.

Purchases
of Equity Securities by the Registrant and Affiliated Purchasers

We
have not repurchased any shares of our common stock during the fiscal year ended November 30, 2024.

Other
Stockholder Matters

None.

ITEM
6. SELECTED FINANCIAL DATA

We
are a smaller reporting company as defined by Rule 12b-2 of the Securities