Company: LVPA
Filing Date: 2025-05-06
Form Type: 10-K
Source: 0001477932-25-003365
Chunk: 249

Company: LVPAI GROUP Ltd
Filing Date: 2025-05-06
Form: 10-K
Item: Item 7
Chunk 249
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, “Earnings per Share.” Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which establishes a new lease accounting model for lessees. The updated guidance requires an entity to recognize assets and liabilities arising from financing and operating leases, along with additional qualitative and quantitative disclosures. The amended guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, with early adoption permitted. In March 2019, the FASB issued ASU 2019-01, Codification Improvements, which clarifies certain aspects of the new lease standard. The FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases in July 2018. Also in 2018, the FASB issued ASU 2018-11, Leases (Topic 842) Targeted Improvements, which provides an optional transition method whereby the new lease standard is applied at the adoption date and recognized as an adjustment to retained earnings. The amendments have the same effective date and transition requirements as the new lease standard. We adopted ASC 842 on July 1, 2020. The adoption of this guidance did not have any impact on our financial statements.

 F-8Table of Contents

NOTE 4 – COMMITMENTS AND CONTINGENCIES The Company did not have any contractual commitments of January 31, 2025, and 2024.

NOTE 5 – NOTES PAYABLE RELATED PARTY Mr. Chen Yuanhang, the Company’s  chief executive officer, the principal member of the Company’s Court-appointed custodian is considered a related party. During the year ended January 31, 2025 and 2024, he extended $111,691 and $80,161 in interest free demand loans to the Company, respectively. Mr. Fuzhu Yang, the Company’s chief executive officer and chief financial officer the principal member of the Company’s Court-appointed custodian is considered a related party. During the year ended January 31, 2025 and 2024, he extended $24