Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 332

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 332
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, Business Combinations.

Following table illustrate the fair value of the identical assets and liabilities of Netclass as of acquisition date and the gain on acquisition:

| ​                                                                     
 ​                                                                     
 ​                                                                     
 ​                                                                     
 ​                                                                     
 Fair value of identical assets and liabilities as of acquisition date 
 Cash                                                                  
 Receivables                                                           
 Intangible assets                                                     
 Payables                                                              
 Deferred tax liability                                                
 Net assets at acquisition                                             
 Less:                                                                 
 Non-controlling interest                                              
 Total consideration paid for acquisition                              
 ​                                                                     | ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ 
 ​ | ​            
 As of        
 February 28, 
 2025         
 Unaudited    
 ​            |         ​ 
         — 
    34,486 
    91,722 
   470,697 
 (103,913) 
  (67,897) 
   425,095 
         — 
 (206,970) 
  (16,928) 
         ​ |
|:----------------------------------------------------------------------|:--|:-------------|----------:|
| Gain on acquisition                                                   | ​ | $            |   201,197 |

NOTE 11 — LEASE

The Company primarily has operating leases for administrative offices, through third-parties. A summary of supplemental balance sheet information related to operating leases as of March 31, 2025 and September 30, 2024 (audited) was as follows:

| ​                                        
 ​                                        
 ​                                        | ​ 
 ​ | ​    
 2025 
 ​    |         ​ 
         ​ | ​      
 ​      | ​       
 2024    
 audited |      ​ | ​      
 ​      |
|:-----------------------------------------|:--|:-----|----------:|:-------|:--------|-------:|:-------|
| Operating lease right-of-use assets      | ​ | $    | 1,153,272 | ​      | $       | 13,122 | ​      |
| ​                                        | ​ | ​    |         ​ | ​      | ​       |      ​ | ​      |
| Operating lease liabilities, current     | ​ |      |     1,272 | ​      |         | 13,122 | ​      |
| Operating lease liabilities, non-current | ​ |      |         — | ​      |         |      — | ​      |
| ​                                        | ​ | ​    |         ​ | ​      | ​