Company: HNIT
Filing Date: 2025-04-14
Form Type: 10-Q
Source: 0001641172-25-003960
Chunk: 11

Company: Huineng Technology Corp
Filing Date: 2025-04-14
Form: 10-Q
Item: Item 1
Chunk 11
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,300 and $3,000 respectively which consist of website
development, design and maintenance fees received in advance from customers but have yet to provide the service.

9.
SHAREHOLDERS’ EQUITY

On
August 15, 2023, upon the incorporation of the Company, Kae Ren Tee, subscribed 4,000,000 shares of common stock at par value of $0.001
per share for a total subscription value of $4,000.

On
July 11, 2024, the Company issued 1,545,000 shares of common stock being sold at $0.02 per share for a total of $30,900 through initial
public offering.

On
February 21, 2025, the Company issued 39,000,000 shares of common stock being subscribed by Kae Ren Tee at par value of $0.001 per share
for a total subscription value of $39,000.

As
of February 28, 2025, the Company has 44,545,000 shares of common stock issued and outstanding.

The
Company has 75,000,000 shares of commons stock authorized.

10.
INCOME TAX

The
loss from operation before income taxes of the Company for the three months ended February 28, 2025 and February 29, 2024 were comprised
of the following:

 SCHEDULE OF LOSS FROM OPERATION BEFORE INCOME TAX

    For the three
                                                                                                  months ended
                                                                                February 28, 2025  
    For the three
                                                                                                  months ended
                                                                                February 29, 2024 
  
    Tax jurisdictions from: 

    – Local 
    $(9,391) 
     (3,702)

    Foreign, representing 

    – Malaysia 
     -  
     - 
  
    Loss from operation before income tax 
    $(9,391) 
    $(3,702)

United
States of America

The
Tax Act reduces the U.S. statutory corporate tax rate from 35% to 21% for our tax years beginning in 2018, which resulted in the re-measurement
of the federal portion of our deferred tax assets from the 35% to 21% tax rate. The Company is registered in the State of Nevada and
is subject to United States of America tax law. As of February 28, 2025, the operations in the United States of America incurred $53,373