Company: HNIT
Filing Date: 2025-07-14
Form Type: 10-Q
Source: 0001641172-25-018889
Chunk: 36

Company: Huineng Technology Corp
Filing Date: 2025-07-14
Form: 10-Q
Item: Item 8
Chunk 36
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 the Company issued 1,545,000 shares of common stock being sold at $0.02 per share for a total of $30,900 through initial
public offering.

On
February 21, 2025, the Company issued 39,000,000 shares of common stock being subscribed by Kae Ren Tee at par value of $0.001 per share
for a total subscription value of $39,000.

As
of May 31, 2025, the Company has 44,545,000 shares of common stock issued and outstanding.

The
Company has 75,000,000 shares of commons stock authorized.

10.
INCOME TAX

The
loss from operation before income taxes of the Company for the six months ended May 31, 2025 and May 31, 2024 were comprised of the following:

SCHEDULE OF LOSS FROM OPERATION BEFORE INCOME TAX 

    For the six months ended May 31, 2025  
    For the six months ended May 31, 2024 
  
    Tax jurisdictions from: 

    – Local 
    $(21,827) 
     (7,298)

    Foreign, representing 

    – Malaysia 
     -  
     - 
  
    Loss from operation before income tax 
    $(21,827) 
    $(7,298)

United
States of America

The
Tax Act reduces the U.S. statutory corporate tax rate from 35% to 21% for our tax years beginning in 2018, which resulted in the re-measurement
of the federal portion of our deferred tax assets from the 35% to 21% tax rate. The Company is registered in the State of Nevada and
is subject to United States of America tax law. As of May 31, 2025, the operations in the United States of America incurred $65,780 of
cumulative net operating losses (NOL’s) which can be carried forward to offset future taxable income. The NOL carryforwards begin
to expire in 2045, if unutilized. The Company has provided for a full valuation allowance of approximately $13,814 against the deferred
tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely
than not that these assets will not be realized in the future.

SCHEDULE OF DEFERRED TAX ASSETS 

    As of  May 31,