Company: HNIT
Filing Date: 2025-01-23
Form Type: 10-K
Source: 0001493152-25-003324
Chunk: 227

Company: Huineng Technology Corp
Filing Date: 2025-01-23
Form: 10-K
Item: Item 9
Chunk 227
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 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 2023 represent the payments made for Edgar filing fee, stock storage and registrar fee, OTC fee,
and virtual office rental fee. The rental deposit represents the deposit of the virtual office tenancy agreement.

5.
PLANT AND EQUIPMENT, NET

Plant
and equipment consisted of the following as of November 30, 2024 and 2023:

SCHEDULE
OF PLANT AND EQUIPMENT NET 

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

    Office equipment 
    $3,062  
    $2,333 
  
    Less: accumulated depreciation 
     (744) 
     (156)
  
    Plant and equipment, net 
    $2,318  
    $2,177 

Depreciation
expense for the year ended November 30, 2024 and from August 15, 2023 (Date of Inception) to November 30, 2023 was $588 and $156 respectively.

6.
AMOUNT DUE TO A DIRECTOR

As
of November