Company: MASK
Filing Date: 2025-01-10
Form Type: 424B4
Source: 0001213900-25-002376
Chunk: 153

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-01-10
Form: 424B4
Chunk 153
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 Selling and marketing expenses primarily consisted of salary and compensation expenses relating to our sales and marketing personnel, and also included entertainment, travel, and other expenses relating to our marketing activities. Selling and marketing expenses decreased by $2,070 or 96.8% from $2,139 for the year ended June 30, 2023 to $69 for the year ended June30, 2024. The decrease was primarily attributable to a reduction in salaries and benefits for the sales department staff. As we continue to expand our business, we anticipate these expenses will remain relatively stable as a percentage of our net revenues in the near future. Research and development (“R&D”) expenses R&D expenses primarily consisted of compensation and benefit expenses relating to our research and development personnel as well as office overhead and other expenses directly relating to our R&D activities. Our R&D expenses increased to $191,504 for the year ended June 30, 2024 from $86,392 for the year ended June30, 2023. The increase was mainly driven by the growth in research projects, reflecting the expansion of our business. We expect R&D expenses to increase as we develop more new products in future years. General and administrative expenses General and administrative expenses primarily consisted of salary and compensation expenses relating to our finance, human resources and executive office personnel, and included rental expenses, depreciation and amortization expenses, office overhead, professional service fees and travel and transportation costs. General and administrative expenses increased by $132,393 or 77.4% from $171,012 for the year ended June 30, 2023 to approximately $303,405 for the year ended June30, 2024, which was attributable to a combination of higher social insurance fees of $22,413 and increased bad debt expenses of $46,706 for the year ended June 30, 2024, compared with $14,383 and nil for social insurance fees and bad debt expenses for the year ended June30, 2023, respectively. 81 Exchange gain Exchange gain primarily included gain from accounts receivable due to exchange rate fluctuation. Other income, net Other income primarily included government subsidies. Income before income taxes Our income before income taxes increased by $762,110 to $1,832,763 for the year ended June30, 2024 from $1,070,653 for the year ended June 30, 2023. Provision for income taxes Our provision for income taxes for the years ended June 30, 2024 and 202