Company: NUTR
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023401
Chunk: 87

Company: NUSATRIP Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 87
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 respective tax regime.

The
consolidation of Nusatrip Inc and its subsidiaries has been accounted for at historical cost and prepared on the basis as if the aforementioned
transactions had become effective as of the beginning of the first period, January 1, 2021, presented in the accompanying carve-out combined
and consolidated financial statements.

    8

NOTE
2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The
accompanying unaudited condensed consolidated financial statements reflect the application of certain significant accounting policies
as described in this note and elsewhere in the accompanying condensed consolidated financial statements and notes.

    ●
    Basis
    of presentation

These
accompanying carve-out combined and consolidated financial statements have been prepared in accordance with generally accepted accounting
principles in the United States of America (“US GAAP”).

    ●
    Emerging
    Growth Company

The
Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our
Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements
that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required
to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced
disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements
of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously
approved.

Further,
Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting
standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do
not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting
standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements
that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of
such extended transition period which means that when a standard is issued or revised and it has different application dates for public
or private companies, the Company, as an emerging growth company, can