Company: EGG
Filing Date: 2025-03-04
Form Type: DRS/A
Source: 0001493152-25-008991
Chunk: 70

Company: ENIGMATIG LTD
Filing Date: 2025-03-04
Form: DRS/A
Chunk 70
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 to US$426,445 for Fiscal 2024, primarily driven by a one-off bonus paid to our directors and senior management in Fiscal 2023 that did not recur in Fiscal 2024. Any inability to manage such costs in the future could contribute to an increase in our operating costs which could impact our margins and profitability.

Key Components of Results of Operations

Corporate services income

We derive our corporate services income from sale of our services, including license application and renewal services and corporate secretarial and other services, to our clients.

In Fiscal 2022, Fiscal 2023 and Fiscal 2024, we generated total corporate services income of US$2,821,504, US$4,607,006 and US$3,967,802, respectively.

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The following table sets forth the breakdown of our corporate services income for the periods indicated:

|                                          |     | For the years ended 
       September 30, |           |     |      |           |     |      |           |
|                                          |     |                2022 |           |     | 2023 |           |     | 2024 |           |
|                                          |     |                 US$ |           |     |  US$ |           |     |  US$ |           |
| Corporate services income:               |     |                     |           |     |      |           |     |      |           |
| License application and renewal services |     |                     | 2,386,085 |     |      | 3,201,761 |     |      | 2,126,338 |
| Corporate secretarial and other services |     |                     |   435,419 |     |      | 1,405,245 |     |      | 1,841,464 |
| Total                                    |     |                     | 2,821,504 |     |      | 4,607,006 |     |      | 3,967,802 |

Corporate services income by geographical location

We book our corporate services income primarily in relation to the office in which we contract with our clients and in which the services are performed. Prior to July 2022, our headquarters were located in Hong Kong and the majority of our business was booked out of Hong Kong. In July 2022, we moved our corporate headquarters to Singapore, where the majority of our employees currently reside, and the majority of our new contracts are entered into with Enigmatig Singapore. However, we have opted to continue