SEC Filing Document

Company: TRIC Global, Inc.
Ticker: 
CIK: 2124122
Filing Type: S-1/A
Document Type: S-1/A
Date Filed: 2026-05-15
Accession Number: 0002124122-26-000010
Exchange: 
SIC Code: 8742
SIC Description: Services-Management Consulting Services
URL: https://www.sec.gov/Archives/edgar/data/2124122/000212412226000010/tric_s1a1.htm

Chunk 17 of 20
Word Count: 1443
Character Count: 9207

Document Content:

Codification. The core principle of the guidance requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company has not generated any revenue since inception. Table of Contents Income Taxes The Company accounts for income taxes under ASC 740, “Income Taxes” (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statement and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized.

ASC
740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes
a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected
to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination
by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim
period, disclosure and transition. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain
tax positions requiring recognition in the Company’s financial statements.

The
Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized
tax benefits and no amounts accrued for interest and penalties as of December 31, 2025. The Company is currently not aware of any issues
under review that could result in significant payments, accruals or material deviation from its position.

There
is currently no taxation imposed on income by the Government of the State of Nevada. In accordance with Nevada Business Corporation Act,
income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements.

Fair
Value Measurements

Fair
value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction
between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs
used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets
or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:

●	Level
1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

●	Level
2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted
prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active;
and

●	Level
3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions,
such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In
those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input
that is significant to the fair value measurement.

Fair
Value of Financial Instruments

The
fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC 820, “Fair Value
Measurements and Disclosures”, approximates the carrying amounts represented in the accompanying balance sheet, primarily due to
their short-term nature.

Recently
Issued Accounting Pronouncements

December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires more
detailed information in the effective tax rate reconciliation and income taxes paid. The ASU is effective for fiscal years beginning
after December 15, 2024. As a blank check company with no current operating business and minimal taxable income prior to an initial
business combination, the adoption of this ASU does not have a material impact on the Company’s financial statements.

November 2025, the FASB issued ASU 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements, which clarifies
and amends the hedge accounting guidance to better align it with risk management activities and address issues related to reference rate
reform. The amendments are effective for the Company for annual reporting periods beginning after December 15, 2026 for public entities
or 2027 for non-public entities, with early adoption permitted. The Company is currently evaluating the impact of this ASU on its financial
statements, which will depend on the nature and extent of any hedging activities undertaken in the future.

Management
does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a
material effect on the Company’s financial statements.

NOTE
3 - Related Party Transactions

During
the period from December 2, 2025 (inception) through December 31, 2025, Chung Ming Bruce Hui, a Director of the Company, paid $1,051
for formation and operating costs on behalf of the Company. These amounts are non-interest bearing, due on demand, and are reflected
as “Amount due to related party” on the balance sheet.

NOTE
4 - Stockholders’ Equity

Preferred
Shares - The Company is authorized to issue 20,000,000 preferred shares with a par value of $0.0001 per share. As of December 31,
2025, there were no preferred shares issued or outstanding. The Board of Directors has the authority to issue preferred shares in one
or more series and to determine the rights, preferences, privileges, and restrictions of those shares.

Common
Shares - The Company is authorized to issue 500,000,000 common shares with a par value of $0.0001 per share. Each common share entitles
the holder to one vote on all matters submitted to a vote of the shareholders. On December 15, 2025, the Company issued an aggregate
of 80,100,000 restricted common shares to its founding officers and directors (or entities controlled by them) at a price of $0.0001
per share, representing the par value of the shares. The issuances were as follows:

shares to Connect Labs Limited, a British Virgin Islands entity wholly owned by Chung Ming
“Bruce” Hui, the Company’s Chief Executive Officer;

shares to Darsen Global Limited, a British Virgin Islands entity wholly owned by Muyuan Guo,
the Company’s Vice President; and

shares to Di Ban, who served as Secretary of the Company at the time of issuance and no longer
holds such position.

These
shares were issued in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended.
As of December 31, 2025, the total consideration of $8,010 for these shares remained unpaid and has been recorded as a subscription receivable,
which is presented as a deduction from shareholders’ equity in the accompanying balance sheet.

NOTE
5 - Income taxes

TRIC
GLOBAL, INC. was incorporated in the State of Nevada and is subject to the tax laws of the United States of America with a corporate
tax rate of 21% on its taxable income. For the period ended December 31, 2025, the Company incurred a net loss and has no income tax
expense. The Company has provided a full valuation allowance against its deferred tax assets consisting primarily of net operating loss
carry forwards, as it is more likely than not that these assets will not be realized.

(Loss)
income before income tax expense is attributable to the following tax jurisdictions:

For
the period from 12/2/2025 (inception) through 12/31/2025

Nevada $	(1,051	)

Loss before income tax
expense $	(1,051	)

The
following table reconciles the local (United States) statutory rates to the Company’s effective tax rate for the periods indicated
below:

For
the period from 12/2/2025 (inception) through 12/31/2025

Statutory federal income tax rate 21.0	%

State taxes, net of federal benefit 0.0	%

Change in valuation allowance (21.0	)%

Effective tax rate 0.0	%

The
following table sets forth the significant components of the deferred tax assets of the Company as of December 31, 2025:

December 31, 2025

Deferred tax assets, net:

Net operating loss carry forwards $	221

Less: valuation allowance $	(221	)

Deferred tax assets,
net $	-

The
movement of valuation allowance is as follows:

of December 31,

Beginning balance	$	-

Tax losses
recognized $	221

Ending balance $	221

Uncertain
tax positions