Company: EGG
Filing Date: 2025-04-16
Form Type: F-1/A
Source: 0001641172-25-004947
Chunk: 88

Company: ENIGMATIG LTD
Filing Date: 2025-04-16
Form: F-1/A
Chunk 88
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,588 as of September 30, 2022 to US$76,557 as of September 30, 2023. The total lease liabilities of the Company increased by US$15,561 from US$76,557 as of September 30, 2023 to US$92,118 as of September 30, 2024.

Leases represented four property lease agreements with lease terms ranging from 1 year to 3 years. The existing lease payable represents the remaining lease period which will end during year 2024 to 2027.

Capital Expenditures

We made capital expenditures of US$3,269, US$4,075 and US$3,238 for the year ended September 30, 2022, 2023 and 2024, respectively. In these periods, our capital expenditures were mainly used for the purchase of computers and office equipment.

We plan to fund our future capital expenditures with our existing cash balance and proceeds from this offering. We will continue to make capital expenditures to meet the expected growth of our business.

Internal Control over Financial Reporting

Prior to this offering, we have been a private company with limited accounting personnel and other resources with which to address our internal controls and procedures, and we were never required to evaluate our internal controls within a specified period. As a result, we may experience difficulty in meeting these reporting requirements in a timely manner. Our management has not completed an assessment of the effectiveness of our internal control over financial reporting, and our independent registered public accounting firm has not conducted an audit of our internal control over financial reporting. However, in the course of auditing our consolidated financial statements as of and for the years ended September 30, 2022, 2023 and 2024, we and our independent registered public accounting firm identified one material weakness and one significant deficiency in our internal control over financial reporting as of September 30, 2024. As defined in the standards established by the PCAOB, a “material weakness” is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our company’s annual or interim consolidated financial statements will not be prevented or detected on a timely basis; and a “significant deficiency” is a deficiency, or a combination of deficiencies, in internal control over financial reporting that is less severe than a material weakness, yet important enough to merit attention by those responsible for oversight of our financial reporting.

The material weakness identified related to the following: during