Company: HNIT
Filing Date: 2025-01-23
Form Type: 10-K
Source: 0001493152-25-003324
Chunk: 281

Company: Huineng Technology Corp
Filing Date: 2025-01-23
Form: 10-K
Item: Item 12
Chunk 281
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 requires disaggregated information about the reporting entity’s effective
tax rate reconciliation as well as information on income taxes paid. The ASU 2023-09 is effective for annual periods beginning after December
15, 2024. Early adoption is permitted. The Company is currently evaluating the impact this ASU may have on its consolidated financial
statements and related disclosures.

The
Company reviews new accounting standards as issued. Management has not identified any other new standards that it believes will have
a significant impact on the Company’s financial statements.

    F-9

3.
GOING CONCERN UNCERTAINTIES

The
accompanying financial statements have been prepared assuming that the Company will continue as a going concern. For the year ended
November 30, 2024, the Company incurred a net loss of $39,224
and used cash in operating activities of $27,461. As of November 30, 2024, the Company had an accumulated deficit
of $44,744
and a working capital deficit of $11,869.

The
Company’s cash position may not be significant enough to support the Company’s daily operations. While the Company believes
in the viability of its strategy and in its ability to raise additional funds, there can be no assurances to that effect. The Company’s
ability to continue as a going concern is dependent upon its ability to improve profitability and the ability to acquire funding through
public offering. If funding from public offering is insufficient, then the Company shall rely on the financial support from its controlling
shareholder.

These
and other factors raise substantial doubt about the Company’s ability to continue as a going concern within one year after the
date that financial statements are issued. These financial statements do not include any adjustments to reflect the possible future effects
on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not
being able to continue as a going concern.

4.
PREPAYMENTS AND DEPOSIT

SCHEDULE
OF PREPAYMENTS AND DEPOSIT 

    As of November 30, 2024 (Audited)  
    As of November 30, 2023 (Audited) 

    Prepaid expenses 
    $8,391  
    $195 
  
    Rental deposit 
     63  
     63 
  
    Total 
    $8,454  
    $258 

Prepaid
expenses as of November 30, 2024 and