Company: HNIT
Filing Date: 2025-01-23
Form Type: 10-K
Source: 0001493152-25-003324
Chunk: 177

Company: Huineng Technology Corp
Filing Date: 2025-01-23
Form: 10-K
Item: Item 6
Chunk 177
---
On
August 15, 2023, we issued 4,000,000 shares of our common stock to Mr. Kae Ren Tee, our Chief Executive Officer, Chief Financial Officer,
President, Secretary, Treasurer, and Director in consideration of $4,000, or $0.001 per share.

In
regards to the above transaction we claim an exemption from registration afforded by Regulation S of the Securities Act of 1933, as amended
(“Regulation S”) for the above sale of stock since the sale of stock was made to a non-U.S. person (as defined under Rule
902 section (k)(2)(i) of Regulation S), pursuant to offshore transactions, and no directed selling efforts were made in the United States
by the issuer, a distributor, any of their respective affiliates, or any person acting on behalf of any of the foregoing.

As
of November 30, 2023, our sole director, Mr. Kae Ren Tee, advanced $5,124 to the Company, which is unsecured and non-interest bearing,
and payable upon demand. Proceeds from the offering herein will not be used to repay the loan to Mr. Kae Ren Tee.

As
of February 29, 2024, the sole director of the Company advanced $11,753 to the Company, which is unsecured and non-interest bearing with
no fixed terms of repayment.

As
of May 31, 2024, the sole director of the Company advanced $17,553 to the Company, which is unsecured and non-interest bearing with no
fixed terms of repayment.

On
July 11, 2024, we issued 1,545,000 shares of our common stock in consideration of $30,900, or $0.02 per share through initial public
offering.

As
of August 31, 2024, the sole director of the Company advanced $18,585 to the Company, which is unsecured and non-interest bearing with
no fixed terms of repayment.

As
of November 30, 2024, the sole director of the Company advanced $18,164 to the Company, which is unsecured and non-interest bearing with
no fixed terms of repayment.

18

Review,
Approval and Ratification of Related Party Transactions

Given
our small size and limited financial resources, we have not adopted formal policies and procedures for the review, approval or ratification
of transactions, such as those described above, with our