Company: NUVI
Filing Date: 2025-03-04
Form Type: 1-SA
Source: 0001410708-25-000001
Chunk: 23

Company: Emo Capital Corp.
Filing Date: 2025-03-04
Form: 1-SA
Chunk 23
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,000 common stock shares returned by Holife Trading Limited, Singapore. Holife Trading Limited had originally acquired a total of 150,000,000 shares from Mr. Guo at an aggregate cost of $50,000. However, as only $15,000 of the transaction was executed, Holife Trading Limited agreed to return 105,000,000 shares, and Mr. Guo consented to their cancellation.

NOTE 6 – LOAN PAYABLE

A series of loans were made from August 23, 2006 to October 31, 2015 totaling $13,425. A total balance of $8,354 is still outstanding as of January 31, 2025, including the advance $8,354 provided by Mr. Guo, without interest and fixed term of repayment. The loan is due at demand. The loan $13,425 was incurred prior to the previous management taking over in 2019.

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NOTE 7 – DEBT/ACCRUED LIABILITIES AND ACCOUNTS PAYABLE

Debts (Accrued Liabilities and Accounts Payable) have been made by an unrelated third party equal to the operating deficits as they have been incurred for the period from August 23, 2006 through April 30, 2017 totaling $46,990. The debts were incurred prior to the previous management taking over in 2019. These debts are without interest or a fixed term of repayment. The debts are due on demand.

NOTE 8 – INCOME TAX

The Company provides for income taxes under (now included under Accounting Standards Codification (ASC 740), Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rated in effect when these differences are expected to reverse.

ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all the deferred tax assets will not be realized. For Federal income tax purposes, the Company has net operating loss carry forwards that expire through 2030. The net operating loss carry forward as of July 31, 2024 is approximately $1,810,713 and as of July 31, 2023 is $1,213,869 approximately. The total deferred tax asset is