# EDGAR Filing Document

**Accession Number:** 0001818152
**File Stem:** 0001599916-25-000077
**Filing Date:** 2025-6
**Character Count:** 115340
**Document Hash:** 8b5a8e7e9e5a80d3401b0ecc3d002c90
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001599916-25-000077.hdr.sgml**: 20250611

**ACCESSION NUMBER**: 0001599916-25-000077

**CONFORMED SUBMISSION TYPE**: 10-K/A

**PUBLIC DOCUMENT COUNT**: 35

**CONFORMED PERIOD OF REPORT**: 20241231

**FILED AS OF DATE**: 20250611

**DATE AS OF CHANGE**: 20250611

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Zentrum Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001818152
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMUNICATION SERVICES, NEC [4899]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 320620813
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-K/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56221
- **FILM NUMBER:** 251038861

**BUSINESS ADDRESS:**
- **STREET 1:** 4-30-4F, YOTSUYA
- **CITY:** SHINJUKU-KU, JAPAN
- **STATE:** M0
- **ZIP:** 160-0004
- **BUSINESS PHONE:** 81-3-6369-3727

**MAIL ADDRESS:**
- **STREET 1:** 4-30-4F, YOTSUYA
- **CITY:** SHINJUKU-KU, JAPAN
- **STATE:** M0
- **ZIP:** 160-0004

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OFF Line International, Inc.
- **DATE OF NAME CHANGE:** 20200714

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-K/A**

**AMENDMENT NO. 1** 

**[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.**

**FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024**

**OR**

**[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the transition period from to**

**COMMISSION FILE NUMBER: 000-56221**

**ZENTRUM HOLDINGS, Inc.**

**(Exact name of registrant as specified in its charter)**

---

| | |
|:---|:---|
| **Delaware** | **32-0620813** |
| (State or other jurisdiction<br> of incorporation or organization) | (I.R.S. Employer Identification No.) |
| **4-30-4F, Yotsuya Shinjuku-ku,**<br> **Tokyo, Japan** | **160-0004** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

Securities to be registered under Section 12(b) of the Act: None

Securities to be registered under Section 12(g) of the Exchange Act:

---

| | |
|:---|:---|
| &nbsp;&nbsp;Title of each class | &nbsp;&nbsp; Name of each exchange on which<br> registered |
| &nbsp;&nbsp;**Common Stock, $0.0001** | &nbsp;&nbsp;**N/A** |

---

------

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

[ ] Yes [X] No

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

[ ] Yes [X] No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

[X] Yes [ ] No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

[X] Yes [ ] No

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.

[ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act:

Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [X] Smaller reporting company [X] Emerging growth company [X]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

[ ] Yes [X] No

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.

As of June 30, 2023, the aggregate market value of the voting common stock held by non-affiliates of the Registrant (without admitting that any person whose shares are not included in such calculation is an affiliate) was approximately $193. This was calculated using the par value $0.0001.

As of May 12, 2025, there were 20,000,000 shares of the Registrant's common stock, par value $0.0001 per share, issued and outstanding.

------

[**Table of Contents**](#table)

**Explanatory Note:** This Amendment No. 1 to the Annual Report on Form 10-K (the "Form 10-K/A") amends the Form 10-K originally filed with the Securities and Exchange Commission on May 12, 2025. The sole purpose of this amendment is to correct a clerical error in the date of the audit report included on page F2. No other changes have been made to the original filing. This Form 10-K/A speaks only as of the original filing date and does not reflect events occurring after May 12, 2025.

**TABLE OF CONTENTS**

**ZENTRUM HOLDINGS, INC.**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PART I** |  | **PAGE** |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 1](#business) | &nbsp;&nbsp;&nbsp;&nbsp;[Business](#business) | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 1A](#risk) | &nbsp;&nbsp;&nbsp;&nbsp;[Risk Factors](#risk) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 1B](#unresolved) | &nbsp;&nbsp;&nbsp;&nbsp;[Unresolved Staff Comments](#unresolved) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 1C](#cyber) | &nbsp;&nbsp;&nbsp;&nbsp;[Cybersecurity](#cyber) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 2](#properties) | &nbsp;&nbsp;&nbsp;&nbsp;[Properties](#properties) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 3](#legal) | &nbsp;&nbsp;&nbsp;&nbsp;[Legal Proceedings](#legal) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 4](#mine) | &nbsp;&nbsp;&nbsp;&nbsp;[Mine Safety Disclosures](#mine) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;**PART II** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 5](#market) | &nbsp;&nbsp;&nbsp;&nbsp;[Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](#market) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 6](#selected) | &nbsp;&nbsp;&nbsp;&nbsp;[Selected Financial Data](#selected) | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 7](#management) | &nbsp;&nbsp;&nbsp;&nbsp;[Management's Discussion and Analysis of Financial Condition and Results of Operations](#management) | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 7A](#quantitative) | &nbsp;&nbsp;&nbsp;&nbsp;[Quantitative and Qualitative Disclosures about Market Risk](#quantitative) | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 8](#financial) | &nbsp;&nbsp;&nbsp;&nbsp;[Financial Statements and Supplementary Data](#financial) | F1-F8 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 9](#changes) | &nbsp;&nbsp;&nbsp;&nbsp;[Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](#changes) | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 9A](#controls) | &nbsp;&nbsp;&nbsp;&nbsp;[Controls and Procedures](#controls) | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 9B](#other) | &nbsp;&nbsp;&nbsp;&nbsp;[Other Information](#other) | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;**PART III** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 10](#directors) | &nbsp;&nbsp;&nbsp;&nbsp;[Directors, Executive Officers and Corporate Governance](#directors) | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 11](#executive) | &nbsp;&nbsp;&nbsp;&nbsp;[Executive Compensation](#executive) | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 12](#security) | &nbsp;&nbsp;&nbsp;&nbsp;[Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](#security) | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 13](#certain) | &nbsp;&nbsp;&nbsp;&nbsp;[Certain Relationships and Related Transactions, and Director Independence](#certain) | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 14](#principal) | &nbsp;&nbsp;&nbsp;&nbsp;[Principal Accounting Fees and Services](#principal) | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;**PART IV** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;[Item 15](#exhibits) | &nbsp;&nbsp;&nbsp;&nbsp;[Exhibits, Financial Statement Schedules](#exhibits) | 11 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;[Signatures](#signatures) | 11 |

---

------

[**Table of Contents**](#table)

**PART I**

**<u>Item 1. Business</u>**

***Corporate History***

OFF Line International, Inc., a Delaware corporation ("the Company") was incorporated under the laws of the State of Delaware on November 22, 2019 with the name OFF Line International, Inc.

On November 22, 2019, Mr. Koichi Ishizuka was appointed as Chief Executive Officer, Chief Financial Officer, President, Director, Secretary, and Treasurer. As of the date of this report, he remains our only officer and director.

On November 22, 2019, Koichi Ishizuka paid for expenses relating to the incorporation of the Company with personal funds on behalf of the Company, in exchange for 20,000,000 shares of restricted Common Stock.

On December 30, 2019, the Company entered into and consummated a Share Contribution Agreement (the "Share Contribution Agreement") with Koichi Ishizuka. Pursuant to this agreement Mr. Ishizuka gifted to the Company, at no cost, 100 shares of common stock of OFF Line Japan Co., Ltd., a Japan corporation ("OFF Line Japan"), which represented all of its issued and outstanding shares. Following the execution of this agreement OFF Line Japan Co., Ltd. became our wholly owned subsidiary.

OFF Line Japan was incorporated under the laws of Japan on June 13, 2018. Currently, OFF Line Japan is headquartered in Tokyo, Japan. The Company is a start-up stage company with a focus on providing telecommunication services and products.

Currently, we operate exclusively through our wholly owned subsidiary, OFF Line Japan and share the same business plan as that of our wholly owned subsidiary.

On January 15, 2021, Koichi Ishizuka, our sole officer and director, entered into Stock Purchase Agreements with 64 Japanese shareholders. Pursuant to these agreements, Koichi Ishizuka sold a total of 1,933,000 shares of our common stock to these individuals and received $193,300 as aggregate consideration. Each shareholder paid $0.10 USD per share.

The aforementioned sale of free trading shares was conducted pursuant to the Company's effective S-1 Registration Statement deemed effective by the Securities and Exchange Commission on October 29, 2020 at 4pm EST. As such, the shares sold were deemed freely transferable.

On June 16, 2021, the Company's Board of Directors approved to change the name of the Company from "OFF Line International, Inc." to "Zentrum Holdings, Inc." On June 16, 2021, we filed a Certificate of Amendment with the Delaware Secretary of State to change our name to Zentrum Holdings, Inc.

On May 24, 2022, our largest controlling shareholder, Koichi Ishizuka, sold a total of 3,567,000 shares of restricted common stock of the Company to the following parties in the respective quantities:

---

| | | | |
|:---|:---|:---|:---|
| **Name of Purchaser** | **Common Shares Purchased** | **Price Paid Per Share ($)** | **Total Approximate Amount Paid ($)** |
| Rei Ishizuka<sup>1</sup> | 1716000 | 0.0001 | 171.60 |
| White Knight Co., Ltd. <sup>2</sup> | 1000000 | 0.0001 | 100.00 |
| Eiichi Ueda | 251000 | 0.0001 | 25.10 |
| Yuko Takeuchi | 600000 | 0.0001 | 60.00 |
| **Total** | **3567000** | **0.0001** | **356.70** |

---

<sup>1</sup> Rei Ishizuka is the wife of Koichi Ishizuka. Koichi Ishizuka is our controlling shareholder, sole officer, and only director.

<sup>2</sup> White Knight Co., Ltd. is owned and controlled by Koichi Ishizuka. White Knight Co., Ltd. is a Japanese entity.

In regards to all of the above transactions, Koichi Ishizuka claims an exemption from registration afforded by Section Regulation S of the Securities Act of 1933, as amended ("Regulation S") for the above sales of the stock since the sales of the stock were made to non-U.S. persons (as defined under Rule 902 section (k)(2)(i) of Regulation S), pursuant to offshore transactions, and no directed selling efforts were made in the United States by the issuer, a distributor, any of their respective affiliates, or any person acting on behalf of any of the foregoing.

Due to a clerical error, the Company failed to provide its transfer agent with the necessary documentation to record the above sales of shares that occurred in May 2022. This issue has now been resolved, and the transfer agent recorded the sales of shares on November 13, 2024.

**Overview**

Our principal executive offices are located at 4-30-4F, Yotsuya, Shinjuku-ku, Tokyo, 160-0004, Japan.

The Company has elected December 31st as its fiscal year end.

Currently, we operate through our wholly owned subsidiary, OFF Line Japan, "OFF Line Japan" which provides telecommunication services and related products.

OFF Line Japan was incorporated under the laws of Japan on June 13, 2018.

Currently, OFF Line Japan is headquartered at 4-30-4F, Yotsuya, Shinjuku-ku, Tokyo, 160-0004, Japan. OFF Line Japan's office space is provided rent free by our Chief Executive Officer, Koichi Ishizuka.

**Background of Operations**

Currently, we operate through our wholly owned subsidiary, OFF Line Japan Co., Ltd., "OFF Line Japan", which is engaged in providing telecommunication products and related services in Japan, particularly, the following:

- SNS system called "AirTalk"

- AI Camera Service

- Beacon Business

- Kidnapping Prevention Device named "KID"

- Drone Management System Development

**AirTalk**

AirTalk is a social networking service (mobile application) with anonymous online/offline chat, allowing users to post photos on maps, and the ability to post short messages. The most current version was released in December 2020. Although it was, at one point, our intention to further develop AirTalk, as of the current date we have not made any additional developmental efforts. AirTalk was originally developed and released by OFF Line Co., Ltd., and the networking service has more than 20,000 users.

On December 1, 2019 OFF Line Co., Ltd. gifted the source code and rights to the program "AirTalk" to our wholly owned subsidiary, OFF Line Japan. OFF Line Co., Ltd. is controlled by our sole officer and director, Koichi Ishizuka.

After taking possession of the source code and rights to the program "AirTalk" we subsequently began to fix numerous bugs that we had discovered throughout the program.

AirTalk's unique feature is its offline chat function, which allows users to chat with each other even when they are unable to use the internet, using Bluetooth Low Energy (BLE) and Wi-Fi at a radius of 120 meters. Once users exceed a radius of 120 meters, offline chat will automatically switch over to online (internet-based) chat.

Another feature of AirTalk is its GPS Crossed Paths functionality. Users will set their Crossed Paths distance to any distance between 100 m and 2 km of their device. When another user enters this range (ex: 100 m), the user will receive a notification to their AirTalk app that they have crossed paths with that other user. As of today, this feature only works when the user is online, but during the process of ongoing development we intend to convert this feature to Bluetooth.

<u>Features</u>

- Communicate without an active internet or data connection – great for people on limited data plans, when traveling, or if there's no internet connectivity in the area.

- Integrated profile builder.

- Send and receive messages with anybody using AirTalk in a 100 m radius.

- Users will be able to share AirTalk user messages simultaneously via the local map and Twitter.

<u>Current status</u>

The most current version of AirTalk was released in December 2020; however, due to our financial condition, we indefinitely suspended our marketing activities and we have, thus far, made no marketing efforts whatsoever.

On January 1, 2020, OFF Line Japan Co., Ltd entered into an agreement with Ueda Tsusho Ltd to administer "AirTalk", and to provide further development and maintenance of "AirTalk" and the Company's other various software and hardware it may have, such as the Company's AI system, all to be further developed on an ongoing need be basis. OFF Line Japan Co., Ltd shall compensate Ueda Tsusho Ltd in the amount of JPY 40,000 (approximately $380) per day; in this case a "day" will be defined as a calendar day during which services have been rendered. The total amount of days will be totaled and accordingly invoiced by Ueda Tsusho Ltd. to the Company at the end of the month, and the Company will be responsible for remitting full payment the following month. Any additional services not covered by the agreement shall receive compensation determined on a case-by-case basis. The term of the agreement shall be from January 1, 2020 until December 31, 2020, with automatic (unless terminated) extension for additional year long periods. On January 1, 2023, the agreement was automatically renewed for another twelve-month period. At present, any and all efforts by Ueno Tsusho Ltd to further develop AirTalk are indefinitely paused, and Ueno Tsusho Ltd.'s sole responsibility is to provide ongoing maintenance.

We have not yet determined a definitive plan as to how we will monetize AirTalk but we have tentative plans to monetize the mobile application in the future by adding "in app" advertisements from third parties that we would be compensated for by "pay per click," or for each placement of each advertisement. At this time, we cannot state with any level of specificity when we will solidify any monetization plans.

**AI Camera Service**

Our AI camera service uses AI facial recognition to distinguish between and identify human faces. We seek to release this service to institutions with the purpose of preventing the wandering of individuals suffering from dementia, but at this point we do not have definitive plans for how we will achieve this goal. In Japan, approximately 8.5 million people suffer from mild cognitive impairment (MCI), and incidents continue to occur in which such individuals wander away from care facilities and die or go missing.

<u>Features</u>

AI camera is a system that uses face recognition technology to prevent wandering and prevent unauthorized outings from medical institutions. To date, we have been pairing our AI camera service with Amazon's AWS DeepLens, a camera which can be used in multiple focal planes. This service is for "wander prevention" purposes, and it has the capability to detect "people who are, and are not, wearing surgical masks", outsiders entering a "restricted area", and in general allows for the detection of men, women, animals, etc. AI Camera Service's settings will allow it to detect individuals whose faces are stored in the data server and/or individuals whose features are not stored in the data server, and alerts can be sent out depending upon the user's settings and preferences.

Face recognition detects the movement of a target person who may be wandering about when going out of the entrance/exit of a facility, and could alert the facility staff with a warning sound or a detection alert. In addition, by utilizing the mobile notification function, it is possible to know the wandering behavior of the target person trying to go out in real time even if there is no facility staff or manager nearby, so quick response and information sharing are possible.

<u>Current status</u>

Currently, AI camera service's host system is being further developed and improved by Ueda Tsusho Co., Ltd.

On January 1, 2020, OFF Line Japan Co., Ltd entered into an agreement with Ueda Tsusho Ltd to administer "AirTalk", and to provide further development and maintenance of "AirTalk" and the Company's other various software and hardware it may have, such as the Company's AI system, all to be further developed on an ongoing need be basis. OFF Line Japan Co., Ltd shall compensate Ueda Tsusho Ltd in the amount of JPY 40,000 (approximately $380) per day; in this case a "day" will be defined as a calendar day during which services have been rendered. The total amount of days will be totaled and accordingly invoiced by Ueda Tsusho Ltd. to the Company at the end of the month, and the Company will be responsible for remitting full payment the following month. Any additional services not covered by the agreement shall receive compensation determined on a case by case basis. The term of the agreement shall be from January 1, 2020 until December 31, 2020, with automatic (unless terminated) extension for additional year long periods. On January 1, 2023 the agreement was automatically renewed for another twelve month period.

We released the AI camera service in September of 2022, but we have thus far not realized any sales. We have not yet commenced any marketing efforts, and at present we rely entirely on prospective clients to contact us pertaining to this service, which has yielded no results thus far. We may, if possible, rely upon the personal and professional relationships of our sole Officer and Director in order to acquire future clients.

**Beacon Business**

Over the past two years we have sold "beacon devices" that broadcast over a diameter of 900 m while using Bluetooth Low Energy (BLE) 4.0. Because this signal can be received using a smartphone, it can be used to look after children and the elderly. It can also be used for the protection of objects, and therefore to retrieve lost or dropped property.

Subsequently, the Company completed development of its BLE 5.0 device, known as "Blette," which is currently available for purchase on Amazon. However, beyond simply listing the product, the Company has made no substantive effort to market it or generate awareness of its availability, except for a Youtube/Facebook/Instagram video which demonstrates how the product works. There are no advertising campaigns, promotional efforts, or outreach initiatives currently in place. As a result, sales are entirely passive and depend solely on potential customers discovering the product organically.

Although Blette is a fully developed and functional product, the Company's commercial activity related to it remains minimal and lacks any form of active market engagement. The Company may consider launching a meaningful marketing effort in the future if funding becomes available, but at present, there are no plans to pursue additional funding to support such efforts.

Manufacturing of Beacons is conducted by an unrelated third party. We purchase inventory from OFF Line Co., Ltd, on a need be basis without any formal agreement, who in turn purchases their inventory from Betz Technik Industries, Ltd on a need be basis, and with no formal agreement. We plan to continue to purchase beacons from OFF Line Co., Ltd. and sell them to nursing institutes. It should be noted that OFF Line Co., Ltd. is also owned and controlled by our sole officer and director, Koichi Ishizuka.

**Drone Management System Development and Entrusted System Development**

The current newest Bluetooth standard is BLE 5.0. OFF Line is currently in the process of developing a new drone identification system using this Bluetooth 5.0 standard. By placing BLE 5.0 on a GPS chip, signals can be broadcast to a clear-air distance of around 3.5 km. This technology is currently under development; however, we have been able to transmit a drone's location information up to a radius of 3.5 km using a BLE 5.0 chip mounted on that drone, detect this signal using a smartphone, and indicate the drone's location on Google Maps.

As of today, throughout the world drones lack any kind of "registration plate" system. Accordingly, it is impossible to distinguish between drones performing legitimate tasks, such as surveying, and drones being used to take privacy-invading photos and video. OFF Line, in anticipation of the establishment of laws applying to drones in the future, will equip drones with BLE 5.0 beacons and register the purpose of drone flights on servers. We intend to develop a system by which ordinary people can recognize drones in flight with their smartphones to find out what company is flying those drones and for what purpose.

The Japanese Ministry of Economy, Trade, and Industry and Ministry of Land, Infrastructure, Transport, and Tourism, with whom our officer has met, have already inquired as to the feasibility of this system, and OFF Line plans to complete development within the year. Once the system is complete, we are considering contacting not only authorities within Japan but US states as well to ascertain their interest in its adoption.

As of the date of this report, development on the drone management system remains ongoing.

**The below depicts the BLE 5.0, known as "Blette", Android application:**

![](image_002.jpg)

**Item 1A. Risk Factors.**

As a smaller reporting company, as defined in Rule 12b-2 of the Exchange Act, we are not required to provide the information called for by this Item.

**Item 1B. Unresolved Staff Comments.**

None.

**Item 1C. Cybersecurity.**

**Cybersecurity Risk Management and Strategy**

We maintain basic processes to identify and manage cybersecurity risks. These include regular system updates, employee training, and monitoring for unauthorized access. When needed, we work with external IT consultants to assess our systems.

Our cybersecurity efforts are part of our broader risk management approach. To date, we have not experienced any cybersecurity events that have had a material impact on our business or operations.

**Governance**

Our management oversees cybersecurity risks.

The board of directors is informed about cybersecurity risks on a periodic basis, especially when significant threats or issues are identified.

**Item 2. Properties.**

We neither rent nor own any properties. We utilize the office space and equipment of our management at no cost. Management estimates such amounts to be immaterial.

**Item 3. Legal Proceedings.**

From time to time, we may become party to litigation or other legal proceedings that we consider to be a part of the ordinary course of our business. We are not currently involved in legal proceedings that could reasonably be expected to have a material adverse effect on our business, prospects, financial condition or results of operations. We may become involved in material legal proceedings in the future.

**Item 4. Mine Safety Disclosures.**

Not applicable.

------

[**Table of Contents**](#table)

**PART II**

**Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.**

**Market Information**

We are not quoted or listed on any recognized exchange.

**Holders**

As of the date of this report, there were 69 shareholders of record holding shares of our common stock, and 20,000,000 shares of common stock issued and outstanding. There are no shares of preferred stock issued and outstanding.

**Dividends and Share Repurchases**

We have not paid any dividends to our shareholder. There are no restrictions which would limit our ability to pay dividends on common equity or that are likely to do so in the future.

**Issuer Purchases of Equity Securities**

None.

**Equity Compensation Plan Information**

Not applicable.

**Recent Sales of Unregistered Securities; Uses of Proceeds from Registered Securities**

None.

------

[**Table of Contents**](#table)

**Item 6. Selected Financial Data.**

Not applicable because the Company is a smaller reporting company.

**Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.**

**Forward-Looking Statements**

Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are "forward-looking statements."

These forward-looking statements generally are identified by the words "believes," "project," "expects," "anticipates," "estimates," "intends," "strategy," "plan," "may," "will," "would," "will be," "will continue," "will likely result," and similar expressions.

Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations and future prospects on a consolidated basis include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.

***Liquidity and Capital Resources***

As of December 31, 2024 and 2023, we had cash and cash equivalents in the amount of $827 and $3,549, respectively. Currently, our cash balance is not sufficient to fund our operations and our revenues cannot cover our costs and expenses for any substantive period of time. We have been utilizing and may utilize funds from OFF Line Co., Ltd., owned and managed by Koichi Ishizuka, our CEO. OFF Line Co., Ltd., and Koichi Ishizuka, however, have no formal commitment, arrangement or legal obligation to advance or loan funds to the company. In order to implement our plan of operations for the next twelve-month period, we require further funding. Being a start-up stage company, we have very limited operating history. After a twelve-month period, we may need additional financing but currently do not have any arrangements for such financing.

If we need additional cash and cannot raise it, we will either have to suspend operations until we do raise the cash we need, or cease operations entirely.

For the year ended December 31, 2024 and 2023, the Company borrowed $135,977 and $209,031 from OFF Line Co., Ltd., a Company controlled by Koichi Ishizuka, CEO. The total due to related party as of December 31, 2024 and 2023 was $790,137 and $735,769 and are unsecured, due on demand and non-interest bearing.

***Revenues***

For the year ended December 31, 2024 and 2023, we generated revenues in the amount of $196 and $0, respectively. If we commence marketing activities, we believe that will have a positive impact on our revenue, however, at this point in time, our financial condition does not allow us to allocate funds to this purpose.

***Net Loss***

 ****

We recorded a net loss of $205,786 and $254,745 for the years ended December 31, 2024 and 2023, respectively.

***Cash flow***

For the year ended December 31, 2024 and 2023, cash used in operating activities was $138,432 and $207,702, respectively. Negative cash flow resulted due to the fact that expense costs were more than revenue.

For the year ended December 31, 2024 and 2023, cash provided by investing activities was $0 and $0, respectively.

For the year ended December 31, 2024 and 2023, cash provided by financing activities was $135,977 and $209,031, respectively. Financing activities were predominantly comprised of funds due to a related party.

***Working capital***

As of December 31, 2024 and 2023, we had a working deficit of $802,440 and $740,098, respectively.

***Going Concern***

The accompanying consolidated financial statements are prepared on a basis of accounting assuming that the Company is a going concern that contemplates realization of assets and satisfaction of liabilities in the normal course of business. The Company is in the early stage of operations and has reoccurring net losses and negative cash flows. These factors raise substantial doubt about the Company's ability to continue as a going concern. The Company will offer noncash consideration and seek equity lines as a means of financing its operations. If the Company is unable to obtain revenue- producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

**Item 7A. Quantitative and Qualitative Disclosures about Market Risk.**

As a "smaller reporting company", we are not required to provide the information required by this Item.

------

[**Table of Contents**](#table)

**Item 8. Financial Statements and Supplementary Data.**

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>Pages</u>** |
| Report of Independent Registered Public Accounting Firm (PCAOB Firm ID - 2738) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F2 |
| Consolidated Balance Sheets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F3 |
| Consolidated Statements of Operations and Comprehensive Loss | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F4 |
| Consolidated Statements of Changes in Stockholders' Deficit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F5 |
| Consolidated Statements of Cash Flows | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F6 |
| Notes to Consolidated Financial Statements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F7-F8 |

---

- F1 -

------

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the Board of Directors and

Shareholders of Zentrum Holdings, Inc.

**Opinion on the Financial Statements**

We have audited the accompanying consolidated balance sheets of Zentrum Holdings, Inc. (the Company) as of December 31, 2024 and 2023, and the related consolidated statements of operations and comprehensive loss, changes in Stockholders' deficit, and cash flows for each of the years then ended and the related notes to the consolidated financial statements. In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the years then ended in conformity with accounting principles generally accepted in the United States of America.

**Going Concern**

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the financial statements, the Company had insufficient revenues to provide sufficient cash flows to enable the Company to finance its operations internally, which raises substantial doubt about its ability to continue as a going concern. Management's plans regarding those matters are also described in Note 3. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

**Basis for Opinion**

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

**Critical Audit Matters**

The critical audit matter communicated below is a matter arising from the current period audit of the financial statements that was communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing separate opinions on the critical audit matter or on the accounts or disclosures to which it relates.

***Going Concern***

As discussed in Note 3 to the financial statements, the Company had a going concern due to the cumulative net loss year-over-year which resulted in stockholders' deficiency.

Auditing management's evaluation of a going concern can be a significant judgment given the fact that the Company uses management estimates on future revenues and expenses which are not able to be substantiated.

To evaluate the appropriateness of the going concern, we examined and evaluate the financial information that was the initial cause along with management's plans to mitigate the going concern and management's disclosure on going concern.

/s/ M&K CPAS, PLLC

We have served as the Company's auditor since 2019.

The Woodlands, TX

May 12, 2025

- F2 -

------

**ZENTRUM HOLDINGS, INC.**

**CONSOLIDATED BALANCE SHEETS**

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;December 31, 2024 | &nbsp;&nbsp;December 31, 2023 |
| &nbsp;&nbsp;ASSETS |  |  |
| &nbsp;&nbsp;Current Assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $&nbsp;&nbsp;827 | $&nbsp;&nbsp;3549 |
| &nbsp;&nbsp;　Accounts receivable, trade | &nbsp;&nbsp;150 | &nbsp;&nbsp;- |
| &nbsp;&nbsp; Inventories | &nbsp;&nbsp;1889 | &nbsp;&nbsp;- |
| &nbsp;&nbsp;TOTAL CURRENT ASSETS | &nbsp;&nbsp;2866 | &nbsp;&nbsp;3549 |
| &nbsp;&nbsp;TOTAL ASSETS | &nbsp;&nbsp;2866 | &nbsp;&nbsp;3549 |
| &nbsp;&nbsp;LIABILITIES AND STOCKHOLDERS' DEFICIT |  |  |
| &nbsp;&nbsp;CURRENT LIABILITIES: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses | $&nbsp;&nbsp;15040 | $&nbsp;&nbsp;7878 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other current liabilities | &nbsp;&nbsp;129 | &nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;&nbsp;Due to related party | &nbsp;&nbsp;790137 | &nbsp;&nbsp;735769 |
| &nbsp;&nbsp;TOTAL CURRENT LIABILITIES | &nbsp;&nbsp;805306 | &nbsp;&nbsp;743647 |
| &nbsp;&nbsp;TOTAL LIABILITIES | &nbsp;&nbsp;805306 | &nbsp;&nbsp;743647 |
| &nbsp;&nbsp;STOCKHOLDERS' DEFICIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock ($0.0001 par value, 20,000,000 shares authorized; 0 issued and outstanding as of December 31, 2024 and December 31, 2023) | &nbsp;&nbsp;- | &nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock ($0.0001 par value, 500,000,000 shares authorized, 20,000,000 shares issued and outstanding as of December 31, 2024 and December 31, 2023) | &nbsp;&nbsp;2000 | &nbsp;&nbsp;2000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid in capital | &nbsp;&nbsp;189053 | &nbsp;&nbsp;128026 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | &nbsp;&nbsp; (1197540) | &nbsp;&nbsp; (991754) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive (loss) | &nbsp;&nbsp;204047 | &nbsp;&nbsp;121630 |
| &nbsp;&nbsp;TOTAL STOCKHOLDERS' DEFICIT | &nbsp;&nbsp; (802440) | &nbsp;&nbsp; (740098) |
| &nbsp;&nbsp;TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT | $&nbsp;&nbsp;2866 | $&nbsp;&nbsp;3549 |
| &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. | &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. | &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. |

---

- F3 -

------

**ZENTRUM HOLDINGS, INC.**

**CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS**

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Year Ended<br>&nbsp;&nbsp;December 31, 2024 | &nbsp;&nbsp;Year Ended<br>&nbsp;&nbsp;December 31, 2023 |
| &nbsp;&nbsp;Revenues | $&nbsp;&nbsp;196 | &nbsp;&nbsp;- |
| &nbsp;&nbsp;Cost of revenues | &nbsp;&nbsp;80 | &nbsp;&nbsp;- |
| &nbsp;&nbsp;Gross profit | &nbsp;&nbsp;116 | &nbsp;&nbsp;- |
| &nbsp;&nbsp;OPERATING EXPENSES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;General and Administrative Expenses | $&nbsp;&nbsp;144414 | $&nbsp;&nbsp;203648 |
| &nbsp;&nbsp;TOTAL OPERATING EXPENSES | $&nbsp;&nbsp;144414 | $&nbsp;&nbsp;203648 |
| &nbsp;&nbsp;OTHER INCOME | $&nbsp;&nbsp;- | $&nbsp;&nbsp;- |
| &nbsp;&nbsp;INTEREST EXPENSE | &nbsp;&nbsp;(61027) | &nbsp;&nbsp;(50599) |
| &nbsp;&nbsp;TOTAL OTHER INCOME (EXPENSES) | &nbsp;&nbsp;(61027) | &nbsp;&nbsp;(50599) |
| &nbsp;&nbsp;NET LOSS BEFORE TAXES | $&nbsp;&nbsp; (205325) | $&nbsp;&nbsp; (254247) |
| &nbsp;&nbsp;INCOME TAX EXPENSES | $&nbsp;&nbsp;461 | $&nbsp;&nbsp;498 |
| &nbsp;&nbsp;**NET LOSS** | $&nbsp;&nbsp; (205786) | $&nbsp;&nbsp; (254745) |
| &nbsp;&nbsp;OTHER COMPREHENSIVE INCOME (LOSS) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign currency translation adjustment | $&nbsp;&nbsp;82417 | $&nbsp;&nbsp; 38651 |
| &nbsp;&nbsp;**TOTAL COMPREHENSIVE LOSS** | $&nbsp;&nbsp; (123369) | $&nbsp;&nbsp; (216094) |
| &nbsp;&nbsp;BASIC AND DILUTED NET LOSS PER COMMON STOCK | $&nbsp;&nbsp; (0.01) | $&nbsp;&nbsp; (0.01) |
| &nbsp;&nbsp;WEIGHTED AVERAGE NUMBER OF COMMON STOCK OUTSTANDING, BASIC AND DILUTED | &nbsp;&nbsp;20000000 | &nbsp;&nbsp;20000000 |
| &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. | &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. | &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. |

---

- F4 -

------

**ZENTRUM HOLDINGS, INC.**

**CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;COMMON STOCK | &nbsp;&nbsp;COMMON STOCK | | | | |
|  | &nbsp;&nbsp;NUMBER | &nbsp;&nbsp;AMOUNT | &nbsp;&nbsp;ADDITIONAL<br>&nbsp;&nbsp;PAID IN<br>&nbsp;&nbsp;CAPITAL | &nbsp;&nbsp;OTHER<br>&nbsp;&nbsp;COMPREHENSIVE<br>&nbsp;&nbsp;INCOME (LOSS) | <br>&nbsp;&nbsp;ACCUMULATED<br>&nbsp;&nbsp;DEFICIT | <br>&nbsp;&nbsp;TOTALS |
| &nbsp;&nbsp;Balance December 31, 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77427 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82979 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (737009) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (574603) |
| &nbsp;&nbsp;Net loss | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (254745) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (254745) |
| &nbsp;&nbsp;Imputed interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;50599 |
| &nbsp;&nbsp;Foreign currency translation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38651 |
| &nbsp;&nbsp;Balance December 31, 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121630 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (991754) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (740098) |
| &nbsp;&nbsp;Net loss | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;(205786) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (205786) |
| &nbsp;&nbsp;Imputed interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61027 |
| &nbsp;&nbsp;Foreign currency translation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82417 |
| &nbsp;&nbsp;Balance December 31, 2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189053 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204047 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1197540) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (802440) |
| &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. | &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. | &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. | &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. | &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. | &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. | &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. |

---

- F5 -

------

**ZENTRUM HOLDINGS, INC.**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Year Ended<br>&nbsp;&nbsp;December 31, 2024 | &nbsp;&nbsp;Year Ended<br>&nbsp;&nbsp;December 31, 2023 |
| &nbsp;&nbsp;CASH FLOWS FROM OPERATING ACTIVITIES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $&nbsp;&nbsp;(205786) | $&nbsp;&nbsp;(254745) |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss to net cash: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Imputed interest | &nbsp;&nbsp;61027 | &nbsp;&nbsp;50599 |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | &nbsp;&nbsp;(157) | &nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory | &nbsp;&nbsp;(1969) | &nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payables | &nbsp;&nbsp;8702 | &nbsp;&nbsp;(457) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses | &nbsp;&nbsp;(384) | &nbsp;&nbsp;(3099) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current Liabilities | &nbsp;&nbsp;135 | &nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | &nbsp;&nbsp;(138432) | &nbsp;&nbsp;(207702) |
| &nbsp;&nbsp;CASH FLOWS FROM INVESTING ACTIVITIES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | &nbsp;&nbsp;- | &nbsp;&nbsp;- |
| &nbsp;&nbsp;CASH FLOWS FROM FINANCING ACTIVITIES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from due to related party | &nbsp;&nbsp;135977 | &nbsp;&nbsp;209031 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing activities | &nbsp;&nbsp;135977 | &nbsp;&nbsp;209031 |
| &nbsp;&nbsp;Net effect of exchange rate changes on cash | &nbsp;&nbsp;(267) | &nbsp;&nbsp;(164) |
| &nbsp;&nbsp;Net Change in Cash and Cash equivalents | &nbsp;&nbsp;(2722) | &nbsp;&nbsp;1165 |
| &nbsp;&nbsp;Cash and cash equivalents - beginning of period | &nbsp;&nbsp;3549 | &nbsp;&nbsp;2384 |
| &nbsp;&nbsp;Cash and cash equivalents - end of period | $&nbsp;&nbsp;827 | $&nbsp;&nbsp;3549 |
| &nbsp;&nbsp;NON-CASH TRANSACTIONS |  |  |
| &nbsp;&nbsp;SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION |  |  |
| &nbsp;&nbsp;Interest paid | $&nbsp;&nbsp;- | $&nbsp;&nbsp;- |
| &nbsp;&nbsp;Income taxes paid | &nbsp;&nbsp;461 | &nbsp;&nbsp;498 |
| &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. | &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. | &nbsp;&nbsp;The accompanying notes are an integral part of these audited consolidated financial statements. |

---

- F6 -

------

[**Table of Contents**](#table)

**ZENTRUM HOLDINGS, INC.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**DECEMBER 31, 2024 and 2023**

**NOTE 1 - ORGANIZATION, DESCRIPTION OF BUSINESS**

OFF Line International, Inc., a Delaware corporation ("the Company") was incorporated under the laws of the State of Delaware on November 22, 2019 with the name OFF Line International, Inc.

On November 22, 2019, Mr. Koichi Ishizuka was appointed as Chief Executive Officer, Chief Financial Officer, President, Director, Secretary, and Treasurer.

On December 30, 2019, the Company entered into and consummated a Share Contribution Agreement (the "Share Contribution Agreement") with Koichi Ishizuka. Pursuant to this agreement Mr. Ishizuka gifted to the Company, at no cost, 100 shares of common stock of OFF Line Japan Co., Ltd., a Japan corporation ("OFF Line Japan"), which represented all of its issued and outstanding shares.

OFF Line Japan was incorporated under the laws of Japan on June 13, 2018. Currently, OFF Line Japan is headquartered in Tokyo, Japan. The Company's primary business is focused on telecommunication service.

On June 16, 2021, the Company's Board of Directors approved to change the name of the Company from "OFF Line International, Inc." to "Zentrum Holdings, Inc."

Our principal executive offices are located at 4-30-4F, Yotsuya, Shinjuku-ku, Tokyo, 160-0004, Japan.

The Company has elected December 31st as its fiscal year end.

**NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES**

**PRINCIPLES OF CONSOLIDATION**

The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All significant intercompany accounts and transactions have been eliminated.

**USE OF ESTIMATES**

The presentation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. The most significant estimates and assumptions made by management include going concern, allowance for doubtful accounts, valuation allowance on deferred income tax, inventory obsolescence and sales allowance. Operating results in the future could vary from the amounts derived from management's estimates and assumptions.

**RELATED PARTY TRANSACTION**

The Company accounts for related party transactions in accordance with ASC 850 ("Related Party Disclosures"). A related party is generally defined as (i) any person that holds 10% or more of the Company's securities and their immediate families, (ii) the Company's management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with the Company, or (iv) anyone who can significantly influence the financial and operating decisions of the Company. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. The Company conducts business with its related parties in the ordinary course of business.

Transactions involving related parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive, free market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm's-length transactions unless such representations can be substantiated.

**CASH EQUIVALENTS**

The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. There were no cash equivalents as of December 31, 2024 and 2023.

**INVENTORY**

Inventory are primarily accounted for using the moving average method, and are valued at the lower of cost or net realizable value. This valuation requires the Company to make judgments, based on currently-available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, or liquidations, and expected recoverable values of each disposition category.

**ADVANCE PAYMENTS**

The Company capitalizes certain costs related to obtaining or developing computer software for internal use. Payments incurred during the application development stage internally or externally are capitalized as advance payment.

**FOREIGN CURRENCY TRANSLATION**

The Company maintains its books and record in its local currency, Japanese YEN ("JPY"), which is a functional currency as being the primary currency of the economic environment in which its operation is conducted. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statements of operations.

The reporting currency of the Company is the United States Dollars ("USD$") and the accompanying consolidated financial statements have been expressed in USD$. In accordance with ASC Topic 830-30, "Translation of Financial Statement", assets and liabilities of the Company whose functional currency is not USD$ are translated into USD$, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements are recorded as a separate component of accumulated other comprehensive income within the statements of shareholders' equity.

Translation of amounts from the local currency of the Company into USD$1 has been made at the following exchange rates:

---

| | | |
|:---|:---|:---|
|  | December 31, 2024 | December 31, 2023 |
| Current JPY: USD$1 exchange rate | 158.18 | 141.83 |
| Average JPY: USD$1 exchange rate | 151.69 | 140.67 |

---

- F7 -

------

[**Table of Contents**](#table)

**COMPREHENSIVE INCOME OR LOSS**

ASC Topic 220, "Comprehensive Income", establishes standards for reporting and display of comprehensive income or loss, its components and accumulated balances. Comprehensive income or loss as defined includes all changes in equity during a period from non-owner sources. Accumulated comprehensive income, as presented in the accompanying consolidated statements of shareholders' equity consists of changes in unrealized gains and losses on foreign currency translation.

**REVENUE RECOGNITION AND DEFERRED REVENUE**

The Company adopted ASC 606 - Revenue from contracts with Customers: (1) identify the contract with a customer;(2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. The company's performance obligation is to deliver the product(s) per the contract and the obligation is met upon receipt of the product by the purchaser.

The company sells the "Blette Stick", an external antenna that can be attached to a mobile phone to extend the communication range of the Android application "Blette". Prices are predetermined plus applicable taxes and shipping costs. The products are sold at standalone selling price. The company's main source of revenue comes from online sales. and online sales primarily coming from the company website and Amazon USA. Amounts invoiced or collected in advance of product delivery are recorded as deferred revenue. The company recognizes revenue when the purchaser receives the product.

For the year ended December 31, 2024 and 2023, we generated revenues in the amount of $196 and $0 for goods and services sold, respectively.

**NET LOSS PER COMMON SHARE**

Net income per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were no potentially dilutive shares outstanding as of December 31, 2024 and 2023.

**INCOME TAX**

The Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of operations in the period that includes the enactment date. The Company adopted section 740-10-25 of the FASB Accounting Standards Codification ("Section 740-10-25"). Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement.

**Fair Value of Financial Instruments**

The Company's balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization.

ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

- Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

- Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

- Level 3 - Inputs that are both significant to the fair value measurement and unobservable.

Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2024. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accrued expenses. As of December 31, 2024, the Company had no financial instruments.

**RECENT ACCOUNTING PRONOUNCEMENTS**

There have been no new accounting pronouncements not yet effective or adopted in the current year that we believe have a significant impact, or potential significant impact, to our condensed consolidated financial statements.

**NOTE 3 - GOING CONCERN**

The accompanying consolidated financial statements are prepared on a basis of accounting assuming that the Company is a going concern that contemplates realization of assets and satisfaction of liabilities in the normal course of business. The Company is in the early stage of operations and has reoccurring net losses and negative operating cash flows. These factors raise substantial doubt about the Company's ability to continue as a going concern. The Company will offer noncash consideration and seek equity lines as a means of financing its operations. If the Company is unable to obtain revenue- producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

**NOTE 4 – SEGMENT INFORMATION**

The Company operates as a single reportable segment. The Chief Executive Officer (CEO), who serves as the Chief Operating Decision Maker (CODM), manages and oversees the business as one integrated operation.

There are no significant differences in the Company's products and services, customer base, or distribution channels, all of which are managed under a unified strategy.

a. Description
 of the types of products from which the reportable segment derives its revenues

As a single reportable segment , the Company generates revenue by selling the "Blette Stick" to users through the Amazon US website. The Blette software itself is available for free download from Google Play; however, in order to use the software, users need an Android smartphone and a USB device called the Blette Stick, which connects to the smartphone. The Blette Stick can be used semi-permanently unless it becomes damaged.

b. Measure
 of segment profit or loss and assets.

The accounting policies of the segment are the same as those described in the summary of significant accounting policies. Decision maker assesses performance for the segment and decides how to allocate resources based on net income that also is reported on the income statement as consolidated net income. The measure of segment assets is reported on the balance sheet as total consolidated assets.

c. How
 the decision maker uses the reported measure of segment profit or loss.

The decision maker uses net income to evaluate income generated from segment assets (return on assets) in deciding whether to reinvest profits into the segment or into other parts of the entity, such as for acquisitions or to pay dividends.

d. The company does not have intra-entity sales or transfers.

e. Factors that management used to identify the public entity's reportable segments.

The company has one reportable segment: The company derives revenue primarily in North America and manages the business activities on a consolidated basis.

**NOTE 5 - RELATED-PARTY TRANSACTIONS**

For the year ended December 31, 2024 and 2023, the Company borrowed $135,977 and $209,031 from OFF Line Co., Ltd., a Company controlled by Koichi Ishizuka, CEO. The total due to related party as of December 31, 2024 and 2023 was $790,137 and $735,769 and are unsecured, due on demand and non-interest bearing.

For the period ended December 31, 2024 and 2023, the Company had imputed interest of $61,027 and $50,599.

For the year ended December 31, 2024 and 2023, the Company rented office space and storage space from the Company's officer free of charge.

**NOTE 6 - SHAREHOLDER EQUITY**

***Preferred Stock*** 

The authorized preferred stock of the Company consists of 20,000,000 shares with a par value of $0.0001. The Company has not issued any shares during December 31, 2024 and 2023.

 ****

***Common Stock***

The authorized common stock of the Company consists of 500,000,000 shares with a par value of $0.0001. There were 20,000,000 shares of common stock issued and outstanding as of December 31, 2024 and 2023.

The Company did not have any potentially dilutive instruments as of December 31, 2024 and, thus, anti-dilution issues are not applicable.

***Pertinent Rights and Privileges***

Holders of shares of common stock are entitled to one vote for each share held to be used at all stockholders' meetings and for all purposes including the election of directors. Common stock does not have cumulative voting rights. Nor does it have preemptive or preferential rights to acquire or subscribe for any unissued shares of any class of stock.

 ****

***Additional paid-in capital***

For the period ended December 31, 2024, the Company had imputed interest of $61,027.

For the period ended December 31, 2023, the Company had imputed interest of $50,599.

**NOTE 7 - INCOME TAXES**

The Company conducts its major businesses in Japan and is subject to tax in this jurisdiction. As a result of its business activities, the Company files tax returns that are subject to examination by the local tax authority.

National income tax in Japan is charged at 15% of a company's assessable profit. The Company's subsidiary, OFF Line Japan, was incorporated in Japan and is subject to Japanese national income tax and city income tax at the applicable tax rates on the taxable income as reported in their Japanese statutory accounts in accordance with the relevant enterprises income tax laws applicable to foreign enterprises.

OFF Line Japan's operation during the year ended December 31, 2024 has resulted in a net taxable loss, as such OFF Line Japan was not subject to income tax for the year ended December 31, 2024. The effective income tax rate of OFF Line Japan is 0%.

Zentrum Holdings, Inc., which acts as a holding company on a non-consolidated basis, does not plan to engage any business activities and current or future loss will be fully allowed. For the year ended December 31, 2024 and 2023, respectively, Zentrum Holdings, Inc., as a holding company registered in the state of Delaware, has incurred net loss and, therefore, has no tax liability.

In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carryforwards for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carryforwards may be limited as to use in future years.

---

| | | |
|:---|:---|:---|
|  | December 31, | December 31, |
|  | 2024 | 2023 |
| Deferred tax asset, generated from net operating loss at statutory rates | $251483 | $208268 |
| Valuation allowance | (251483) | (208268) |
|  | $- | $- |

---

The reconciliation of the effective income tax rate to the federal statutory rate is as follows:

---

| | |
|:---|:---|
| Federal income tax rate | 21.0% |
| Increase in valuation allowance | (21.0%) |
| Effective income tax rate | 0.0% |

---

**NOTE 8 - ACCRUED EXPENSES**

Accrued expenses totaled $15,040 and $7,878 as of December 31, 2024 and 2023. As of December 31, 2024 and 2023, accrued expenses were mainly for R&D expense for Ueda Tsusho.

**NOTE 9 - SUBSEQUENT EVENTS**

None.

- F8 -

------

[**Table of Contents**](#table)

**Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.**

None.

**Item 9A. Controls and Procedures.**

**Disclosure Controls and Procedures**

The Company has adopted and maintains disclosure controls and procedures that are designed to provide reasonable assurance that information required to be disclosed in the reports filed under the Exchange Act, such as this annual report, is collected, recorded, processed, summarized and reported within the time periods specified in the rules of the SEC. The Company's disclosure controls and procedures are also designed to ensure that such information is accumulated and communicated to management to allow timely decisions regarding required disclosure. As required under Exchange Act Rule 13a-15, the Company's management, including the Chief Executive Officer who also serves as our Principal Financial Officer, has conducted an evaluation of the effectiveness of disclosure controls and procedures as of the end of the period covered by this report. Based on that evaluation, the Chief Executive Office who also serves as our Principal Financial Officer concluded that the disclosure controls and procedures are ineffective.

Our Chief Executive Officer, Koichi Ishizuka, has reviewed the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) as of the end of the period covered by the report December 31, 2024 and has concluded that (i) the Company's disclosure controls and procedures are not effective to ensure that material information relating to the Company is recorded, processed, summarized, and reported within the time periods specified in the rules and forms of the Commission, and (ii) the Company's controls and procedures have not been designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the Company's management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

**Management's Report on Internal Control over Financial Reporting**

The Company's management, comprised solely of Koichi Ishizuka, is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Exchange Act Rule 13a-15(f). The Company's internal control over financial reporting is designed to provide reasonable assurance to the Company's management and board of directors regarding the preparation and fair presentation of published financial statements. Management conducted an assessment of the Company's internal control over financial reporting based on the framework and criteria established by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control – Integrated Framework issued in 2013. Based on the assessment, management concluded that, as of December 31, 2024, the Company's internal control over financial reporting is ineffective based on those criteria.

The Company's management, including its Chief Executive Officer who also serves as our Chief Financial Officer, does not expect that the Company's disclosure controls and procedures and its internal control processes will prevent all error and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of error or fraud, if any, within the Company have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that the breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the control. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, controls may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate. Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and may not be detected. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk.

The matters involving internal controls and procedures that our Chief Executive Officer considered to be material weaknesses under the standards of the Committee of Sponsoring Organizations of Treadway Commission were: domination of management by a single individual without adequate compensating controls, lack of a majority of outside directors on board of directors, inadequate segregation of duties consistent with control objectives, lack of well-established procedures to identify, approve and report related party transactions, and lack of an audit committee.

Management believes that the material weaknesses did not have an effect on our financial results. However, management believes that the lack of a functioning audit committee and inadequate segregation of duties results in ineffective oversight in the establishment and monitoring of required internal controls and procedures, which could result in a material misstatement in our financial statements in future periods.

Management recognizes that its controls and procedures would be substantially improved if we had an audit committee and two individuals serving as officers and as such is actively seeking to remediate this issue.

**<u>Management's Remediation Initiatives</u>**

In an effort to remediate the identified material weaknesses and other deficiencies and enhance our internal controls, we have initiated, or plan to initiate, the following series of measures:

We will create a position to segregate duties consistent with control objectives and will increase our personnel resources and technical accounting expertise within the accounting function when funds are available to us. And, we plan to appoint one or more outside directors to our board of directors who shall be appointed to an audit committee resulting in a fully functioning audit committee who will undertake the oversight in the establishment and monitoring of required internal controls and procedures such as reviewing and approving estimates and assumptions made by management when funds are available to us.

Management believes that the appointment of one or more outside directors, who shall be appointed to a fully functioning audit committee, will remedy the lack of a functioning audit committee and a lack of a majority of outside directors on our Board.

We will work as quickly as possible to implement these initiatives; however, the lack of adequate working capital and positive cash flow from operations will likely slow this implementation.

**Changes in Internal Control**

There have been no changes in internal controls over the financial reporting that occurred during the year ended December 31, 2024, that have materially affected, or are reasonably likely to materially affect our internal controls over financial reporting.

This annual report does not include an attestation report of the Company's registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by the Company's registered public accounting firm pursuant to temporary rules of the SEC that permit the Company to provide only management's report in this annual report.

**Item 9B. Other Information.**

None.

------

[**Table of Contents**](#table)

**PART III**

**Item 10. Directors, Executive Officers and Corporate Governance.**

**<u>Mr. Koichi Ishizuka, Age 54 - Chief Executive Officer, Chief Financial Officer, President, Director, Secretary, and Treasurer</u>**

**Background of Mr. Koichi Ishizuka** 

Mr. Koichi Ishizuka's academic journey includes earning his MBA from the University of Aoyama Gakuin in 2004 and completing the Advanced Management Program at Harvard School of Business in 2011. Stepping into the professional arena, he commenced as the head of marketing at Thomson Reuters, a prominent mass media and information firm. His career trajectory led him to pivotal roles, serving as CEO for Xinhua Finance Japan in 2006, Fate Corporation in 2008, and LCA Holdings, Ltd. in 2009.

Presently, Mr. Ishizuka holds the position of Chief Executive Officer across a spectrum of companies, including OFF Line Co., Ltd., Photozou Co., Ltd., Photozou Holdings, Inc., Photozou Koukoku Co., Ltd., Off Line International, Inc., and OFF Line Japan Co., Ltd. He has held the position of CEO with OFF Line Co., Ltd. since 2013, Photozou Co., Ltd. since 2016, Photozou Holdings, Inc. since 2017, Photozou Koukoku Co., Ltd. since 2017, Zentrum Holdings, Inc. (formerly known as Off Line International, Inc.) since 2019, and OFF Line Japan Co., Ltd. since 2018. On November 18, 2020, Koichi Ishizuka assumed the roles of Chief Financial Officer and Director of Next Meats Holdings, Inc., followed by his appointment as Chief Executive Officer on December 28, 2021. He continues to hold these positions to this day, and additionally maintains a controlling interest in Next Meats Holdings, Inc. Additionally, he serves as the Chief Financial Officer of Next Meats Co., Ltd., a Japanese alternative meat company and wholly owned subsidiary of Next Meats Holdings, Inc.

Since its inception on April 14, 2021, Koichi Ishizuka has served as CEO of WB Burgers Japan Co., Ltd., a Japanese company. On May 7, 2021, Mr. Koichi Ishizuka was appointed as the Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer, and Director of Business Solutions Plus, Inc., which is now known as WB Burgers Asia, Inc. WB Burgers Japan Co., Ltd. is a wholly owned subsidiary of WB Burgers Asia, Inc. WB Burgers Japan Co., Ltd. holds the *rights* to the "Master Franchise Agreement" with Jakes' Franchising LLC, a Delaware Limited Liability Company, as it pertains to the establishment and operation of Wayback Burger Restaurants within the country of Japan. On July 23, 2021, Mr. Ishizuka was appointed as Chief Executive Officer, Chief Financial Officer, President, Treasurer, and Director of Japan Food Tech Holdings, Inc. (formerly known as Dr. Foods, Inc.). Koichi Ishizuka has a controlling interest in Dr. Foods, Inc. On March 21, 2022, Mr. Ishizuka was appointed as the Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer, and Director of WeCapital Holdings, Inc., (formerly known as Perfect Solutions Group, Inc.).

Given Mr. Ishizuka's extensive business acumen and long-standing entrepreneurial background, the company firmly believes that Koichi Ishizuka is well-suited to continue to serve as our sole officer and director.

As of the date of this filing, there has not been any material plan, contract or arrangement (whether or not written) to which our sole officer and director are a party in connection with their appointments at Zentrum Holdings, Inc.

***Employees***

As of December 31, 2024, we had no employees outside of our sole officer and director.

***Director's Term of Office***

Directors will hold office until the next annual meeting of stockholders and the election and qualification of their successors. Officers are elected annually by our board of directors and serve at the discretion of the board of directors. Presently, we have a single director, Koichi Ishizuka.

<u>Corporate Governance</u>

The Company promotes accountability for adherence to honest and ethical conduct; endeavors to provide full, fair, accurate, timely and understandable disclosure in reports and documents that the Company files with the Securities and Exchange Commission (the "SEC") and in other public communications made by the Company; and strives to be compliant with applicable governmental laws, rules and regulations. The Company has not formally adopted a written code of business conduct and ethics that governs the Company's employees, officers and Directors as the Company is not required to do so.

In lieu of an Audit Committee, the Company's Board of Directors, comprised solely of Koichi Ishizuka, is responsible for reviewing and making recommendations concerning the selection of outside auditors, reviewing the scope, results and effectiveness of the annual audit of the Company's financial statements and other services provided by the Company's independent public accountants. Our sole officer and director review the Company's internal accounting controls, practices and policies.

*Committees of the Board*

Our Company currently does not have nominating, compensation, or audit committees or committees performing similar functions nor does our Company have a written nominating, compensation or audit committee charter. Our Director believes that it is not necessary to have such committees, at this time, because the Director can adequately perform the functions of such committees.

 

*Audit Committee Financial Expert*

Our Board has determined that we do not have a board member that qualifies as an "audit committee financial expert" as defined in Item 407(D)(5) of Regulation S-K, nor do we have a Board member that qualifies as "independent" as the term is used in Item 7(d)(3)(iv)(B) of Schedule 14A under the Securities Exchange Act of 1934, as amended, and as defined by Rule 4200(a)(14) of the FINRA Rules.

We believe that our Director is capable of analyzing and evaluating our financial statements and understanding internal controls and procedures for financial reporting. The Director of our Company does not believe that it is necessary to have an audit committee because management believes that the Board of Directors can adequately perform the functions of an audit committee. In addition, we believe that retaining an independent Director who would qualify as an "<u>audit committee financial expert</u>" would be overly costly and burdensome and is not warranted in our circumstances given the stage of our development and the fact that we have not generated any positive cash flows from operations to date.

***Involvement in Certain Legal Proceedings***

Our sole officer and director has not been involved in any of the following events during the past ten years:

1. bankruptcy
 petition filed by or against any business of which such person was a general partner or executive officer either at the time of the
 bankruptcy or within two years prior to that time;

2. any conviction in a criminal
 proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);

3. being subject to any order,
 judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily
 enjoining, barring, suspending or otherwise limiting his/her involvement in any type of business, securities or banking activities;
 or

4. being found by a court
 of competent jurisdiction (in a civil action), the Commission or the Commodity Futures Trading Commission to have violated a federal
 or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated.

5. Such person was found by
 a court of competent jurisdiction in a civil action or by the Commission to have violated any Federal or State securities law, and
 the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated;

6. Such person was found by
 a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities
 law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed,
 suspended or vacated;

7. Such person was the subject
 of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed,
 suspended or vacated, relating to an alleged violation of:(i) Any Federal or State securities or commodities law or regulation; or(ii)
 Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent
 injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal
 or prohibition order; or(iii) Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity;
 or

8. Such person was the subject
 of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as
 defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of
 the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary
 authority over its members or persons associated with a member.

***Independence of Directors***

We are not required to have independent members of our Board of Directors, and do not anticipate having independent Directors until such time as we are required to do so.

***Code of Ethics***

We have not adopted a formal Code of Ethics. The Board of Directors, consisting solely of Koichi Ishizuka, evaluated the business of the Company and the number of employees and determined that since the business is operated by a small number of persons, general rules of fiduciary duty and federal and state criminal, business conduct and securities laws are adequate ethical guidelines. In the event our operations, employees and/or Directors expand in the future, we may take actions to adopt a formal Code of Ethics.

***Shareholder Proposals***

Our Company does not have any defined policy or procedural requirements for shareholders to submit recommendations or nominations for Directors. The Board of Directors believes that, given the stage of our development, a specific nominating policy would be premature and of little assistance until our business operations develop to a more advanced level. Our Company does not currently have any specific or minimum criteria for the election of nominees to the Board of Directors and we do not have any specific process or procedure for evaluating such nominees. The Board of Directors will assess all candidates, whether submitted by management or shareholders, and make recommendations for election or appointment.

A shareholder who wishes to communicate with our Board of Directors may do so by directing a written request addressed to our President, at the address appearing on the first page of this Registration Statement.

------

[**Table of Contents**](#table)

**Item 11. Executive Compensation.**

**<u>Summary Compensation Table</u>** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name and principal position (a)** | **As of December 31, (b)** | **Salary ($) (c)** | **Bonus ($) (d)** | **Stock Awards ($) (e)** | **Option Awards ($) (f)** | **Non-equity incentive plan compensation ($) (g)** | **Non-qualified deferred compensation earnings ($) (h)** | **All other compensation ($) (i)** | **Total ($) (j)** |
| Koichi Ishizuka, Sole Officer and Director | 2023 |  |  |  |  |  |  |  |  |
|  | 2024 |  |  |  |  |  |  |  |  |

---

**Summary of Compensation**

<u>Stock Option Grants</u>

We have not granted any stock options to our executive officers since our incorporation.

<u>Employment Agreements</u>

We do not have an employment or consulting agreements with any officer or director.

**Compensation Discussion and Analysis**

<u>Director Compensation</u>

Our Board of Directors, consisting solely of Koichi Ishizuka, does not currently receive any consideration for their services as members of the Board of Directors. The Board of Directors reserves the right in the future to award the members of the Board of Directors cash or stock based consideration for their services to the Company, which awards, if granted shall be in the sole determination of the Board of Directors.

<u>Executive Compensation Philosophy</u>

Our Board of Directors, consisting solely of Koichi Ishizuka, determines the compensation given to our executive officers in their sole determination. Our Board of Directors reserves the right to pay our executive or any future executives a salary, and/or issue them shares of common stock issued in consideration for services rendered and/or to award incentive bonuses which are linked to our performance, as well as to the individual executive officer's performance. This package may also include long-term stock based compensation to certain executives, which is intended to align the performance of our executives with our long-term business strategies. Additionally, while our Board of Directors has not granted any performance base stock options to date, the Board of Directors reserves the right to grant such options in the future, if the Board in its sole determination believes such grants would be in the best interests of the Company.

<u>Incentive Bonus</u>

The Board of Directors, consisting solely of Koichi Ishizuka, may grant incentive bonuses to our executive officer and/or future executive officers in its sole discretion, if the Board of Directors believes such bonuses are in the Company's best interest, after analyzing our current business objectives and growth, if any, and the amount of revenue we are able to generate each month, which revenue is a direct result of the actions and ability of such executives.

<u>Long-term, Stock Based Compensation</u>

In order to attract, retain and motivate executive talent necessary to support the Company's long-term business strategy we may award our executive and any future executives with long-term, stock-based compensation in the future, at the sole discretion of our Board of Directors, which we do not currently have any immediate plans to award.

------

[**Table of Contents**](#table)

**Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.**

As of May 12, 2025, the Company has 20,000,000 shares of common stock issued and outstanding, which number of issued and outstanding shares of common stock have been used throughout this report.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name and Address of Beneficial Owner** | **Shares of Common Stock Beneficially Owned** | **Common Stock Voting Percentage Beneficially Owned** | **Voting Shares of Preferred Stock** | **Preferred Stock Voting Percentage Beneficially Owned** | **Total Voting Percentage Beneficially Owned (1)** |
| **Executive Officers and Directors** |  |  |  |  |  |
| Koichi Ishizuka<br> 3-1-21, Chuo, Nakano-ku, Tokyo, 164-0011, Japan | 14500000 | 72.50% |  | n/a | 72.50% |

---

Beneficial ownership has been determined in accordance with Rule 13d-3 under the Exchange Act. Under this rule, certain shares may be deemed to be beneficially owned by more than one person (if, for example, persons share the power to vote or the power to dispose of the shares). In addition, shares are deemed to be beneficially owned by a person if the person has the right to acquire shares (for example, upon exercise of an option or warrant) within 60 days of the date as of which the information is provided. In computing the percentage ownership of any person, the amount of shares is deemed to include the amount of shares beneficially owned by such person by reason of such acquisition rights. As a result, the percentage of outstanding shares of any person as shown in the following table does not necessarily reflect the person's actual voting power at any particular date.

**Item 13. Certain Relationships and Related Transactions, and Director Independence.**

For the year ended December 31, 2024 and 2023, the Company borrowed $135,977 and $209,031 from OFF Line Co., Ltd., a Company controlled by Koichi Ishizuka, CEO. The total due to related party as of December 31, 2024 and 2023 was $790,137 and $735,769 and are unsecured, due on demand and non-interest bearing.

For the period ended December 31, 2024 and 2023, the Company had imputed interest of $61,027 and $50,599.

For the year ended December 31, 2024 and 2023, the Company was provided office space and storage space from the Company's sole officer and director, Koichi Ishizuka, free of charge.

<u>Review, Approval and Ratification of Related Party Transactions</u>

Given our small size and limited financial resources, we have not adopted formal policies and procedures for the review, approval or ratification of transactions, such as those described above, with our executive officer(s), Director(s) and significant stockholders. We intend to establish formal policies and procedures in the future, once we have sufficient resources and have appointed additional Directors, so that such transactions will be subject to the review, approval or ratification of our Board of Directors, or an appropriate committee thereof. On a moving forward basis, our Directors will continue to approve any related party transaction.

**Item 14. Principal Accounting Fees and Services.**

Below is the aggregate amount of fees billed for professional services rendered by our principal accountants with respect to our last two fiscal years.

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;2024 | &nbsp;&nbsp;2023 |
| &nbsp;&nbsp;Audit fees | M&K CPAS, PLLC | &nbsp;&nbsp;$20771 | &nbsp;&nbsp;$23030 |
| &nbsp;&nbsp;Audit related fees |  | &nbsp;&nbsp; - | &nbsp;&nbsp;- |
| &nbsp;&nbsp;Tax fees |  | &nbsp;&nbsp; - | &nbsp;&nbsp;- |
| &nbsp;&nbsp;All other fees |  | &nbsp;&nbsp; - | &nbsp;&nbsp;- |
| &nbsp;&nbsp;Total |  | &nbsp;&nbsp;$20771 | &nbsp;&nbsp;$23030 |

---

Audit fees represent the professional services rendered for the audit of our annual financial statements and the review of our financial statements included in quarterly reports, along with services normally provided by the accounting firm in connection with statutory and regulatory filings or engagements. Audit-related fees represent professional services rendered for assurance and related services by the accounting firm that are reasonably related to the performance of the audit or review of our financial statements that are not reported under audit fees.

Tax fees represent professional services rendered by the accounting firm for tax compliance, tax advice, and tax planning. All other fees represent fees billed for products and services provided by the accounting firm, other than the services reported for in the other categories.

------

[**Table of Contents**](#table)

**PART IV**

**Item 15. Exhibits, Financial Statement Schedules.**

(a) Financial Statements

&nbsp;&nbsp;&nbsp;&nbsp;1. Financial statements for our company are listed in the index under Item 8 of this document

&nbsp;&nbsp;&nbsp;&nbsp;2. All financial statement schedules are omitted because they are not applicable, not material or the required information is shown in the financial statements or notes thereto.

(b) Exhibits required by Item 601 of Regulation S-K.

---

| | |
|:---|:---|
| Exhibit No. | Description |
| 3.1 | [Certificate of Incorporation](https://www.sec.gov/Archives/edgar/data/1818152/000159991620000133/certification.htm) (1) |
| 3.1 (i) | [Certificate of Amendment](https://www.sec.gov/Archives/edgar/data/1818152/000159991621000104/ex31amendment.htm) (2) |
| 3.2 | [By-laws](https://www.sec.gov/Archives/edgar/data/1818152/000159991620000133/bylaws.htm) (1) |
| 31 | [Certification of the Company's Principal Executive and Principal Financial Officer pursuant to the Securities Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002](exhibit31.htm) (3) |
| 32 | [Certification of the Company's Principal Executive and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002](exhibit32.htm) (3) |
| 101.INS | Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document). |
| 101.SCH | Inline XBRL Taxonomy Extension Schema |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

(1) Filed
 as an exhibit to the Company's Registration Statement on Form S-1/A, as filed with the SEC on October 22, 2020, and incorporated herein
 by this reference.

(2) Filed
 as an exhibit to the Company's Form 8-K, as filed with the SEC on June 21, 2021, and incorporated herein by this reference.

(3) Filed
 herewith.

**SIGNATURES**

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Zentrum Holdings, Inc.

(Registrant)

By: <u>/s/ Koichi Ishizuka</u>

Koichi Ishizuka, Chief Executive Officer, Chief Financial Officer, Director

Dated: June 11, 2025

In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: <u>/s/ Koichi Ishizuka</u>

Koichi Ishizuka, Chief Executive Officer, Chief Financial Officer, Director

Dated: June 11, 2025

------

## Ex-31

EXHIBIT 31.1

Zentrum Holdings, INC.

OFFICER'S CERTIFICATE PURSUANT TO SECTION 302

I, Koichi Ishizuka, certify that:

1. I have reviewed this report on Form 10-K/A of Zentrum Holdings, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report;

4. The small business issuer's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the small business issuer and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the small business issuer's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The small business owner's other certifying officer and I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small issuer's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer's internal control over financial reporting.

Dated: June 11, 2025

By: <u>/s/ Koichi Ishizuka</u>

Koichi Ishizuka,

*Chief Executive Officer*

(Principal Executive Officer)

EXHIBIT 31.2

Zentrum Holdings, INC.

OFFICER'S CERTIFICATE PURSUANT TO SECTION 302

I, Koichi Ishizuka, certify that:

1. I have reviewed this report on Form 10-K/A of Zentrum Holdings, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report;

4. The small business issuer's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the small business issuer and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the small business issuer's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The small business owner's other certifying officer and I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small issuer's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer's internal control over financial reporting.

Dated: June 11, 2025

By: <u>/s/ Koichi Ishizuka</u>

Koichi Ishizuka,

*Chief Financial Officer*

(Principal Financial Officer)

## Ex-32

EXHIBIT 32.1

Zentrum Holdings, INC.

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF

THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Zentrum Holdings, Inc. (the Company) on Form 10-K/A for the Year Ended December 31, 2024, as filed with the Securities and Exchange Commission on the date hereof (the Report), I, Koichi Ishizuka, Principal Executive Officer of the Company, certify, pursuant to 18 U.S.C. ss.1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

A signed original of this written statement required by Section 906 has been provided to Koichi Ishizuka and will be retained by Zentrum Holdings, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

Dated: June 11, 2025

By: <u>/s/ Koichi Ishizuka</u>

Koichi Ishizuka,

*Chief Executive Officer*

(Principal Executive Officer)

EXHIBIT 32.2

Zentrum Holdings, INC.

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF

THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Zentrum Holdings, Inc. (the Company) on Form 10-K/A for the Year Ended December 31, 2024, as filed with the Securities and Exchange Commission on the date hereof (the Report), I, Koichi Ishizuka, Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. ss.1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

A signed original of this written statement required by Section 906 has been provided to Koichi Ishizuka and will be retained by Zentrum Holdings, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

Dated: June 11, 2025

By: <u>/s/ Koichi Ishizuka</u>

Koichi Ishizuka,

*Chief Financial Officer*

(Principal Financial Officer)