Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 249

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 19
Chunk 249
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561  
  Prezario UNO Pty Ltd                                                                70,634                  632,613                  434,771  
  Total                                                    $                       5,993,543      $         6,159,075      $         6,897,332  

  Salaries paid to related parties:      For the year ended                                                           
                                         September 30,                                                                
                                         2022                                 2023                  2024              
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Mr. Wai Yiu Yau                        $                       110,000      $         85,000      $         10,000  
  Mr. Chun Lin Yau                                                16,769                -                     -       
  Ms. Lai Ching Ng                                                16,769                -                     -       
  Total                                  $                       143,538      $         85,000      $         10,000  

  Rental expense related to related party lease:      For the year ended                        
                                                      September 30,                             
                                                      2022                    2023        2024  
  Mr. Wai Yiu Yau                                     $                       $         $8,308  
 ────────────────────────────────────────────────────────────────────────────────────────────────
  Total                                               $                       $         $8,308  

  Interest income from related party:      For the year ended                        
                                           September 30,                             
                                           2022                    2023        2024  
  Mr. Wai Yiu Yau                          $                       $         $5,030  
 ─────────────────────────────────────────────────────────────────────────────────────
  Total                                    $                       $         $5,030  

NOTE
14 - COMMITMENTS AND CONTINGENCIES

Contingencies

The Company accounts for loss contingencies
in accordance with ASC Topic 450 and other related guidelines.

For the year ended September 30, 2022,
the Company is required to provide bank guarantee to International Air Transport Association (“ IATA”) in favor of its associated
airlines to secure the purchases of cargo spaces. IATA shall have the right from time to time by giving notice in writing to require
us to increase the amount of guarantee if the cargo spaces purchased by us were greater than the existing guaranteed sum. Bank guarantees
are provided by the principal bank of the Company, which in return required personal guarantee from a director of the Company and collateral
such as mortgage over a