Company: AGGI
Filing Date: 2025-10-31
Form Type: 10-12G
Source: 0001683168-25-007875
Chunk: 65

Company: Allied Energy, Inc.
Filing Date: 2025-10-31
Form: 10-12G
Chunk 65
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asured using the exchange rates at the dates of the initial transactions. Resulting exchange gains and losses
from remeasurement are recognized in net income.

For entities whose functional currency is not
the U.S. dollar, the financial statements are translated into U.S. dollars for reporting purposes. Assets and liabilities are translated
at exchange rates in effect at the balance sheet date, revenues and expenses are translated at average exchange rates prevailing during
the reporting period, and shareholders’ equity is translated at historical exchange rates. Translation adjustments resulting from
this process are reported as a component of other comprehensive income (loss) and accumulated in shareholders’ equity under accumulated
other comprehensive income (loss).

Cash and cash equivalents

Cash and cash equivalents include cash on hand,
deposits with banks, and highly liquid investments with original maturities of three months or less at the time of purchase. Cash equivalents
also include investments in money market mutual funds held which are available for withdrawal on demand without fees or restrictions.
As of December 31, 2024 and 2023, cash and cash equivalents consisted of the following:

|                                 |     |   | December 31, 
         2024 |     |   | December 31, 
         2023 |
|:--------------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Cash at banks                   |     | $ |       31,920 |     | $ |       31,707 |
| Money market mutual funds       |     |   |      259,466 |     |   |      154,161 |
| Total Cash and cash equivalents |     | $ |      291,385 |     | $ |      185,867 |

| F-8 |

Accounts receivable, net

The Company records accounts receivable at net
realizable value, consisting of the carrying amount less an allowance for credit losses. An estimate for the allowance for credit losses
is discussed below in “Credit Losses on Financial Instruments.” Account balances are charged off against the allowance after
all means of collection have been exhausted and the potential for recovery is considered remote, which is generally when accounts are
more than one year past due.

Credit Losses on Financial Instruments

The Company early adopted ASU 2016-13, Financial
Instruments — Credit Losses effective January 1, 2021. The Company uses the Current Expected Credit Losses (CECL) model to estimate
credit losses on financial assets measured