Company: JSKJ
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001477932-25-008401
Chunk: 224

Company: Jiansu (Shanghai) Information Technology Co., Ltd
Filing Date: 2025-11-17
Form: F-1
Chunk 224
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 assets and liquidation of liabilities in the normal course of business.

The Company had accumulated deficits of $4,635,767 as of June 30, 2024 and negative cash flow of $14, 179,754 in operating activities for the fiscal year ended June 30, 2024. The Company had cash, cash equivalents and restricted cash of $12, 182, 143 as of June 30, 2024 and generated an operating income of $1,254,098 for the fiscal year ended June 30, 2024.

In assessing whether the going concern assumption is appropriate, management considers all available information about the future, which is at least, but not limited to, twelve months from the end of the reporting period. The Company’s ability to continue operations and fund its exploration and development expenditures is dependent on management’s ability to secure additional financing. Management is actively pursuing such additional sources of financing, and while it has been successful in doing so in the past, there can be no assurance it will be able to do so in the future.

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Management plans to address these concerns further by securing additional financing through this offering and other debt financing. Management assessed the mitigating effect of its plans to determine if it is probable that the plans would be effectively implemented within one year after the date of issuance of these consolidated financial statements, and would mitigate the relevant conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern.

The Company has implemented or intends to implement plans which encompass short-term cash preservation initiatives and completing the IPO to provide the Company with adequate liquidity to meet its obligations for at least the 12-month period following the date its consolidated financial statements are issued, in addition to creating sustained cash flow generation thereafter.

Management has prepared estimates of operations and believes that sufficient funds will be generated from operations to fund its operations, and to service its debt obligations for one year from the date of the issuance of these consolidated financial statements. The consolidated financial statements have been prepared on a going concern basis under which the Company is expected to be able to realize its assets and satisfy its liabilities in the normal course of business. Management believes that based on relevant conditions and events that are known and reasonably knowable that its forecasts, for one year from the date of the issuance of these consolidated financial statements, indicate improved operations and the Company’s ability to continue operations as a going concern.

Revenue recognition

The Company recognizes revenue pursuant to ASC 606, Revenue from Contracts with Customers (“ASC 606