Company: HNIT
Filing Date: 2025-04-14
Form Type: 10-Q
Source: 0001641172-25-003960
Chunk: 33

Company: Huineng Technology Corp
Filing Date: 2025-04-14
Form: 10-Q
Item: Item 8
Chunk 33
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 America 
    $11,208  
    $9,236 
  
    – Malaysia 
     183  
     114 
  
    Net operating loss carryforwards 
     183  
     114 

    Less: valuation allowance 
     (11,391) 
     (9,350)
  
    Deferred tax assets 
    $-  
    $- 

Management
believes that it is more likely than not that the deferred tax assets will not be fully realizable in the future. Accordingly, the Company
provided for a full valuation allowance against its deferred tax assets of $11,391 as of February 28, 2025.

    F-9

11.
CONCENTRATIONS OF RISK

Customer
Concentration

For
the three months ended February 28, 2025, there were four customers who accounted for more than 10% of the Company’s revenues.
The customer who accounted for more than 10% of the Company’s revenues and its outstanding receivable balance at period-end is
presented below:

 SCHEDULE OF REVENUES AND OUTSTANDING RECEIVABLES BALANCE

    For the three months ended February 28, 2025 

    Revenue  
    Percentage of Revenue  
    Accounts receivable 
  
    Customer A 
    $300  
     25% 
    $- 
  
    Customer B 
     300  
     25% 
     - 
  
    Customer C 
     300  
     25% 
     - 
  
    Customer D 
     300  
     25% 
     - 
  
    Total 
    $1,200  
     100% 
    $- 

For
the three months ended February 29, 2024, there was one customer who accounted for more than 10% of the Company’s revenues. The
customer who accounted for more than 10% of the Company’s revenues and its outstanding receivable balance at period-end is presented
below:

    For the three months ended February 29, 2024 

    Revenue  
    Percentage of Revenue  
    Accounts receivable 
  
    Customer A 
    $6,000  
     91% 
    $- 
  
    Total 
    $6,000  
     91% 
    $            - 

12.
SEGMENT REPORTING