Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 325

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 325
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       ​ |
|:-------------------------------|:--|:---------------|--------:|
| Client list                    | ​ | $              | 473,021 |
| Subtotal                       | ​ |                | 473,021 |
| Less: accumulated amortization | ​ |                |  -7,885 |
| Intangible assets, net         | ​ | $              | 465,137 |

The Company acquired a customer list from Netclass Japan and expects that it will be able to derive benefit from the information on the acquired customer list for at least but for no more than . Therefore, the Company recorded it as an intangible asset and amortized over , on a straight-line basis, from acquisition date. Amortization for the six months ended March 31, 2025 was $.

NOTE 8 — RELATED PARTIES BALANCES AND TRANSACTIONS

The Company records transactions with various related parties. These related party balances as of March 31, 2025 and September 30, 2024 (audited) and transactions for the six months ended March 31, 2025 and 2024 are identified as follows:

| (1) | Related parties with transactions and related party relationships |

F-49

| Name of Related Party                        |   | Relationship to the Company                                             |
| Jianbiao Dai                                 | ​ | Chief Executive Officer (“CEO”); Chairman of the Company                |
| Shanghai Youfu Network Co., Ltd.             | ​ | Shareholder of the Company                                              |
| Lang Wide Investment Inc.                    | ​ | A shareholder of the Company                                            |
| Shanghai Longruan Electronics Group Co., Ltd | ​ | Jianbiao Dai serves as legal representative and holds 80% of the shares |

| (2) | Related Party Transactions |

Borrowing from a related party

| ​            | ​ |                        ​ |     ​ | ​ |         ​ |     ​ |
| ​            |   | For the six months ended |       |   |           |       |
| ​            | ​ |                March 31, |       | ​ | March 31, |       |
| ​            | ​ |                     2025 |       | ​ |      2024 |       |
| Jianbiao Dai |   |                        $ | 2,314 |   |         $ | 1,502 |

| (3) | Due to related parties |

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 Due to related parties                       | ​