Company: DKI
Filing Date: 2025-08-11
Form Type: 424B4
Source: 0001641172-25-022921
Chunk: 224

Company: DarkIris Inc.
Filing Date: 2025-08-11
Form: 424B4
Chunk 224
---
 PRC entities are restricted in their ability to transfer their assets to the Company. Foreign exchange and other regulation in the PRC may further restrict the PRC entities from transferring funds to the Company in the form of dividends, loans, and advances. As of March 31, 2025 and September 30, 2024, amounts restricted are the paid-in-capital and statutory reserve of the PRC entity, which amounted to $4.7 million and $4.7 million, respectively.

| F-19 |

Note 11. Concentration of major customers and suppliers

No single customer represented 10% or more of revenue for the six months ended March 31, 2025 and 2024.

As of March 31, 2025, two receivables accounted for 77%, and 20% of the Company’s accounts receivable balance, respectively. As of September 30, 2024, two receivables accounted for 61%, and 29% of the Company’s accounts receivable balance, respectively.

For the six months ended March 31, 2025, three major suppliers accounted for approximately 56%, 25%, and 17% of the cost of revenues, respectively. For the six months ended March 31, 2024, three major suppliers accounted for approximately 34%, 25%, and 10% of the cost of revenues, respectively.

As of March 31, 2025, four suppliers accounted for 33%, 31%, 13%, and 10% accounts payable balance, respectively. As of September 30, 2024, three suppliers accounted for 44%, 15%, and 10% accounts payable balance, respectively.

Note 12. Related party transactions

The relationship and the nature of related party transactions are summarized as follow:

| Name                                             |     | Relationship                                                    
 with the Company                                                |     | Nature                                                            
 of transactions                                                   |
| Xiamen Xiqi Network Technology Co., Ltd (“Xiqi”) |     | The                                                             
 shareholder owns 34% of the Company and also owns 35.4% of Xiqi |     | Providing working capital and payment of expenses for the Company |

Due to a related party

As of March 31, 2025 and September 30, 2024, the Company owed Xiqi $1,236 and $0.2 million, respectively. The balance of due to a related party is interest-free, unsecured, and due