Company: DKI
Filing Date: 2025-07-29
Form Type: F-1/A
Source: 0001641172-25-021310
Chunk: 249

Company: DarkIris Inc.
Filing Date: 2025-07-29
Form: F-1/A
Chunk 249
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 September 30, 2023, two receivables accounted for 79% and 17% of the Company’s accounts receivable balance, respectively.

For the year ended September 30, 2024, four major suppliers accounted for approximately 48%, 12%, 12%, and 12% of the cost of revenues, respectively. For the year ended September 30, 2023, three major suppliers accounted for approximately 50%, 19%, and 13% of the cost of revenues, respectively.

As of September 30, 2024, three suppliers accounted for 44%, 15%, and 10% accounts payable balance, respectively. As of September 30, 2023, one supplier accounted for 81% accounts payable balance.

Note 11. 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 
 2024  | September 30, |     | As of 
 2023  | September 30, |
|:-----|:----|:------|--------------:|:----|:------|--------------:|
| Xiqi |     | $     |       243,788 |     | $     |     2,712,450 |

As of September 30, 2024 and 2023, the Company owed Xiqi $0.2 million and $2.7 million, respectively. The balance of due to a related party is interest-free, unsecured, and due upon demand.

For the year ended September 30, 2024, the Company’s related parties provided working capital to support the Company’s operations when needed. The borrowings were unsecured, due on demand, and interest free. The following table summarizes borrowing transactions with the Company’s related parties:

| Name of related parties |     | Payment 
 Amount  |           |     | Borrowing 
 Amount    |           |
|:------------------------|:----|:--------|----------:|:----|:----------|----------:|
| Xiqi                    |     | $