Company: DKI
Filing Date: 2025-07-29
Form Type: F-1/A
Source: 0001641172-25-021310
Chunk: 109

Company: DarkIris Inc.
Filing Date: 2025-07-29
Form: F-1/A
Chunk 109
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, which mainly consisted of purchases of plant and equipment.

Financing activities

Net cash provided by financing activities
was approximately $0.2 million in FY2024, which mainly consisted of (i) proceeds of approximately $2.7 million from capital contribution;
and (ii) advances of approximately $1.5 million from shareholder. The cash provided by financing was partially offset by repayments of
approximately $4.0 million to shareholder.

Net cash provided by financing activities
was $1.0 million in FY2023, which mainly consisted of (i) proceeds of approximately $0.4 million from capital contribution; and (ii)
advances of approximately $5.6 million from shareholders. The cash provided by financing was partially offset by repayments of approximately
$5.0 million to shareholders.

Contractual Obligations and Commitments

As of September 30, 2024, the Company does
not have any contractual obligations and commitments.

Trend Information

There are no known trends or uncertainties
that have had or are reasonably likely to have a material impact on our cash flows, liquidity, capital resources, cash requirements,
financial position, or results of operations. During FY2024 and FY2023, inflation did not materially affect our business or the results
of our operations.

Critical Accounting Policies and Estimates

Revenue recognition

The Company adopted ASC Topic 606 Revenue
from Contracts with Customers (“ASC 606”) on April 1, 2019. Accordingly, the combined financial statements for the years
ended September 30, 2024, and 2023 are presented under ASC 606. Under ASC 606, revenue is recognized when control of promised goods or
services is transferred to the Company’s customers in an amount of consideration to which an entity expects to be entitled to in
exchange for those goods or services. To determine revenue recognition for contracts with customers, the Company performs the following
five steps : (i) identify the contract(s) with the customer, (ii) identify the performance obligations in the contract,
(iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future
reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize
revenue when (or as) we satisfy the performance obligation. VAT that the Company collects concurrent with revenue-producing activities
is excluded from revenue.

The Company follows the requirements
of Topic 606-10-