Company: EGG
Filing Date: 2025-03-04
Form Type: DRS/A
Source: 0001493152-25-008991
Chunk: 196

Company: ENIGMATIG LTD
Filing Date: 2025-03-04
Form: DRS/A
Chunk 196
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 potentially expose the Company to concentration of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company has designed their credit policies with an objective to minimize their exposure to credit risk. The Company’s accounts receivable are short term in nature and the associated risk is minimal. The Company conducts credit evaluations on its clients and generally does not require collateral or other security. The Company periodically evaluates the creditworthiness of the existing clients in determining the allowance for doubtful accounts primarily based upon the age of the receivables and factors surrounding the credit risk of specific clients.

| F-12 |

<div align='center'>ENIGMATIG LIMITED (FORMERLY KNOWN AS DESFRAN HOLDINGS LIMITED)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

| 2 | Summary of significant accounting policies (continued) |

Customers that consisted of more than 10% of total sales for the years ended September 30, 2024, 2023 and 2022 were as follow:

|            |     | Sales |       |   |     | Account receivables |   |
| 2024       |     |       |       |   |     |                     |   |
| Customer A |     |       | 27.73 | % |     |                     | - |
| Customer B |     |       | 20.13 | % |     |                     | - |
| Customer F |     |       | 11.36 | % |     |                     | - |
| 2023       |     |       |       |   |     |                     |   |
| Customer A |     |       | 30.87 | % |     |                     | - |
| Customer D |     |       | 23.78 | % |     |                     | - |
| Customer E |     |       | 15.27 | % |     |                     | - |
| 2022       |     |       |       |   |     |                     |   |
| Customer C |     |       | 32.98 | % |     |                     | - |
| Customer A |     |       | 13.27 | % |     |                     | - |

None of the suppliers consisted of more than 10% of total cost of sales for the years ended September 30, 2024, 2023 and 2022.

Employee benefits

Employee benefits are recognized as an expense, unless the cost qualifies to be capitalized as an asset.

Defined