Company: GINT
Filing Date: 2025-07-18
Form Type: F-1/A
Source: 0001213900-25-065552
Chunk: 121

Company: Gifts International Holdings Ltd
Filing Date: 2025-07-18
Form: F-1/A
Chunk 121
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 each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. Commitments and Contingencies The Company follows the ASC Topic 450 -20, Loss Contingencies,to report accounting for contingencies. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un -assertedclaims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or un -assertedclaims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. Fair Value Measurement The Company follows the guidance of the ASC Topic 820 -10, Fair Value Measurements and Disclosures(“ASC 820 -10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820 -10establishes a three -tierfair value hierarchy that prioritizes the inputs used in measuring fair value as follows: • Level 1:Inputs are based upon unadjusted quoted prices for identical instruments traded in active markets; • Level 2:Inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model -basedvaluation techniques (e.g. Black -ScholesOption -Pricingmodel) for which all significant inputs are observable in the market 67 or