Financial Performance - Revenues for the three months ended April 30, 2025, were $250,000, up 25% from $200,000 in the same period of 2024[20] - Net loss for the nine months ended April 30, 2025, was $3,859,571, compared to a net loss of $1,840,689 for the same period in 2024, indicating an increase in losses of approximately 109%[20] - For the nine months ended April 30, 2025, the Company reported a net loss of approximately $3.9 million, compared to a net loss of $1.8 million for the same period in 2024, indicating a 116.67% increase in losses year-over-year[32] - Net loss for the three months ended April 30, 2025, was approximately $1.6 million, an increase of $781,452, or 97%, from a net loss of $807,588 in 2024[126] - Net loss for the nine months ended April 30, 2025, was approximately $3.9 million, an increase of $2.1 million, or 110%, from a net loss of $1.8 million in 2024[135] Assets and Liabilities - Total current assets increased to $8,687,975 as of April 30, 2025, compared to $2,898,748 as of July 31, 2024, representing a growth of 200%[19] - Cash and cash equivalents rose significantly to $6,681,402 as of April 30, 2025, from $1,249,376 as of July 31, 2024, marking a 435% increase[19] - Total liabilities decreased to $278,073 as of April 30, 2025, from $1,258,834 as of July 31, 2024, a reduction of approximately 78%[19] - As of April 30, 2025, the Company had cash of approximately $6.7 million and short-term investments in trading securities of approximately $1.1 million, which could cover current liabilities of approximately $0.3 million[35] Share Issuance and Capital - The company issued 5,400,000 ordinary shares during the nine months ended April 30, 2025, raising $5,456,769 in capital[22] - The Company issued and sold 3,820,000 ordinary shares at a price of $1.25 per share in January 2025, generating gross proceeds of $4.8 million[33] - In February 2025, the Company issued and sold 1,580,000 ordinary shares at a price of $1 per share, along with warrants, for gross proceeds of $2.5 million[34] - The Company had 100,000,000,000 authorized ordinary shares, with 17,317,452 ordinary shares issued and outstanding as of April 30, 2025[78] Operating Expenses - The company reported total operating expenses of $1,510,918 for the nine months ended April 30, 2025, down from $2,075,577 in the same period of 2024, a decrease of approximately 27%[20] - General and administrative expenses decreased by $196,270, or 31%, from approximately $635,282 for the three months ended April 30, 2024, to $439,012 for the same period in 2025[122] - Selling expenses for the nine months ended April 30, 2025, were $120,000, a decrease of $131,000, or 52%, from $251,000 in 2024[130] - Rent expenses for the nine months ended April 30, 2025, were $12,000 compared to $291,771 for the same period in 2024[75] Investment Losses - Loss from investment in trading securities for the nine months ended April 30, 2025, was $2,538,592, compared to $338,255 for the same period in 2024, reflecting a significant increase in losses[24] - The Company recognized a loss of $1,400,028 from investments in trading securities for the three months ended April 30, 2025, compared to a loss of $309,521 for the same period in 2024[41] - Loss from investment in trading securities increased by approximately $1.1 million, or 352%, from $309,521 in 2024 to $1.4 million in 2025 for the three months ended April 30[123] - Loss from investment in trading securities for the nine months ended April 30, 2025, was approximately $2.5 million, compared to $338,255 in 2024, representing an increase of $2.2 million, or 650%[133] Revenue Concentration Risk - One customer accounted for 100% of the Company's consolidated revenue for the three months ended April 30, 2025, highlighting significant revenue concentration risk[60] - For the nine months ended April 30, 2025, two customers accounted for 56% and 44% of the Company's consolidated revenue, indicating a high dependency on a limited customer base[60] - For the three and nine months ended April 30, 2025, substantially all of the Company's revenues were generated from going public related consulting services[62] Future Plans and Concerns - The company plans to transition its consulting services from PRC based customers to more international customers to mitigate risks[62] - The company plans to strategically expand into the Bitcoin sector with a five-year plan to accumulate 1,000 BTC, having purchased 0.19 BTC to date[110] - The company is currently facing uncertainties regarding its ability to continue as a going concern due to a history of net losses and cash outflows from operating activities[137] - The company plans to support future operations primarily from cash generated from operations and cash on hand, but may need to raise additional funds[136] Legal Matters - A settlement agreement with Boustead Securities, LLC requires the company to pay a total of $1,000,000, with $750,000 already paid in two installments[102] - The company is involved in a pending legal proceeding with J.P. Morgan Securities LLC, claiming damages of $5,064,160 related to a stock transaction[103] - The parties involved in a dispute have agreed to attempt mediation, but no resolution was reached as of May 6, 2024[165] - Defendants filed a Petition on May 15, 2024, seeking to compel arbitration and stay the underlying State Court action[165] Tax Matters - The company is subject to a federal tax rate of 21% and a state tax rate of 8.84% in the US, but did not incur any income tax expenses for the three and nine months ended April 30, 2025[91][92] - The company has a 100% valuation allowance against deferred tax assets, indicating uncertainty regarding their realization[93] - The company has no uncertain tax positions as of April 30, 2025, and does not expect changes in unrecognized tax benefits over the next twelve months[94] Cash Flow - Operating cash outflows for the nine months ended April 30, 2025, were approximately $2.1 million, significantly higher than approximately $0.08 million for the same period in 2024[32] - The company recorded net cash used in operating activities of approximately $2.1 million for the nine months ended April 30, 2025, primarily due to a net loss of approximately $3.9 million[143] - Net cash provided by financing activities was approximately $6.9 million for the nine months ended April 30, 2025, compared to $2.3 million for the same period in 2024, showing a significant increase in financing[147] Miscellaneous - The Company operates in one reporting segment, which is the consulting service business, as of April 30, 2025[57] - The Company recorded accrued litigation fees of $250,000 as current liabilities as of April 30, 2025[76] - The company is in the process of evaluating the impact of recent FASB updates on its consolidated financial statements[64][65][66][67] - The company is in the process of evaluating steps to improve its disclosure controls and procedures, including hiring qualified accounting personnel and implementing training programs[152] - The company extended a loan of $93,013 to Mr. Jun Liu during the nine months ended April 30, 2025, which was subsequently collected[86] - The company has a total of $600,000 due from Mr. Jun Liu as of April 30, 2025[88] - The Company recognized a decrease in fair value of investments of $1,400,028 for the three months and $2,538,592 for the nine months ended April 30, 2025[73] - The Company recorded a loss on disposal of property and equipment amounting to $53,765 due to the premature termination of a lease agreement[71] - As of April 30, 2025, the company had 3,355,106 outstanding and exercisable warrants, with a weighted average exercise price of $0.89[82]

Financial Performance - Total revenues for the three months ended January 31, 2025, were $200,000, a significant increase from $25,000 in the same period of 2024, representing an increase of 700%[20] - The net loss for the six months ended January 31, 2025, was $2,270,531, compared to a net loss of $1,033,101 for the same period in 2024, indicating a 120% increase in losses[20] - Loss from operations for the three months ended January 31, 2025, was $350,797, a decrease from $547,516 in the same period of 2024, showing a reduction of 36%[20] - The company reported a loss per share of $0.16 for the three months ended January 31, 2025, compared to a loss per share of $0.04 for the same period in 2024[20] - For the six months ended January 31, 2025, the Company reported a net loss of approximately $2.3 million, compared to a net loss of $1.0 million for the same period in 2024, indicating a 130% increase in losses year-over-year[33] - Net loss was approximately $1.9 million for the three months ended January 31, 2025, an increase of loss of approximately $1.5 million from net loss of $0.4 million for the three months ended January 31, 2024[126] - Net loss for the six months ended January 31, 2025, was approximately $2.3 million, an increase of loss of approximately $1.3 million from net loss of $1.0 million for the six months ended January 31, 2024[136] Cash and Assets - Cash and cash equivalents increased to $5,269,690 as of January 31, 2025, up from $1,249,376 as of July 31, 2024, reflecting a growth of 320%[18] - Total current assets rose to $8,640,046 as of January 31, 2025, compared to $2,898,748 as of July 31, 2024, marking an increase of 197%[18] - The total shareholders' equity increased to $7,869,118 as of January 31, 2025, from $1,753,754 as of July 31, 2024, representing a growth of 348%[18] - As of January 31, 2025, the Company had cash of approximately $5.3 million and short-term investments in trading securities of approximately $2.8 million, which could cover current liabilities of approximately $0.8 million[35] - Cash at the end of the period was approximately $5.3 million, with current liabilities of approximately $0.8 million, indicating sufficient liquidity to cover current obligations[140] Share Issuance - The company issued 3,820,000 ordinary shares during the period, raising $4,774,895 in proceeds[23] - The Company issued and sold 3,820,000 ordinary shares at a price of $1.25 per share in January 2025, resulting in gross proceeds of $4.8 million[34] - The company entered into a securities purchase agreement to sell 3,820,000 ordinary shares for gross proceeds of approximately $4.7 million, with a purchase price of $1.25 per share[79] Revenue Concentration and Services - For the three and six months ended January 31, 2025, one customer accounted for 100% of the Company's consolidated revenue, highlighting significant revenue concentration risk[60] - The Company plans to mitigate revenue concentration risks by transitioning its consulting services from PRC-based customers to more international customers[62] - The Company operates in one reporting segment, which is the consulting service business, as of January 31, 2025[57] - The company generated total revenue from consulting services of $0.2 million for the three months ended January 31, 2025, compared to approximately $25,000 for the same period in 2024, indicating a significant increase[114] - For the six months ended January 31, 2025, total revenue from consulting services remained at approximately $0.2 million, consistent with the same period in 2024[114] Legal Matters - A settlement agreement with Boustead Securities, LLC requires the company to pay a total of $1,000,000, with the first installment of $250,000 due upon execution of the agreement[101] - The company is currently facing a lawsuit from J.P. Morgan Securities LLC, claiming $5,064,160 in damages related to a stock transaction[102] - The company is currently involved in a lawsuit filed by J.P Morgan Securities LLC, claiming $5,064,160 in damages related to a stock transaction[164] - The company is in the process of evaluating claims and defenses related to the lawsuit with J.P Morgan Securities LLC, which has led to mediation attempts[165] - Boustead's lawsuit claims damages of $1,000,000, with payments structured in three installments: $250,000 paid on September 24, 2024, $500,000 due by February 27, 2025, and the final $250,000 payable before December 31, 2025[163] Expenses - Selling expenses decreased by $45,000, or 48%, from $93,000 for the three months ended January 31, 2024, to $48,000 for the three months ended January 31, 2025[121] - General and administrative expenses increased by $23,281, or 5%, from approximately $0.5 million for the three months ended January 31, 2024, to approximately $0.5 million for the three months ended January 31, 2025[122] - Selling expenses for the six months ended January 31, 2025, were $120,000, representing a decrease of $45,000, or 27%, from $165,000 for the six months ended January 31, 2024[131] - Rent expenses for the three months ended January 31, 2025, were $3,000, significantly lower than $120,692 for the same period in 2024[77] Investments and Fair Value - For the three months ended January 31, 2025, the Company recognized a loss of $1,286,722 from investments in trading securities, compared to a gain of $80,670 for the same period in 2024[40] - For the six months ended January 31, 2025, the Company recognized a loss of $1,138,564 from investments in trading securities, compared to a loss of $28,734 for the same period in 2024[40] - The company reported a decrease in fair value of investments of $1,286,722 for the three months ended January 31, 2025, compared to an increase of $80,670 for the same period in 2024[74] - As of January 31, 2025, the fair value of 7,850,000 ordinary shares granted as a capital contribution was $2,570,090[73] Internal Controls and Compliance - The company has concluded that its disclosure controls and procedures were not effective as of January 31, 2025, due to insufficient qualified accounting personnel and lack of documented financial closing procedures[151] - The company is implementing steps to remediate the ineffectiveness of its disclosure controls, including hiring qualified accounting personnel and establishing an internal audit function[151] - There have been no changes in internal controls over financial reporting that materially affected the company during the three months ended January 31, 2025[152] - The company is not currently a party to any legal or arbitration proceeding that would materially affect its business, operating results, cash flows, or financial condition, except for the disclosed litigation[154] - The company has not identified any critical accounting policies and estimates that affect the preparation of its financial statements[149] - The company is not required to provide quantitative and qualitative disclosures about market risk as a smaller reporting company[150] Strategic Focus - The company has shifted its geographic focus from China to North America, emphasizing assistance to mid and small companies in becoming public on U.S. capital markets[112] - The company has established a new office in California and expanded its service models to include asset management and media services[111] - The company has provided consulting services to one customer primarily focused on going public in the U.S. through IPO, reverse merger, and acquisition[113] Tax and Accounting Standards - The company has implemented a 100% valuation allowance against its deferred tax assets due to uncertainty regarding their realization[90] - The company is actively monitoring the potential impact of recent U.S. tax reforms, with no material impact expected based on current analysis[88] - The company is evaluating the impact of recent accounting standards updates on its consolidated financial statements[69]

Core Viewpoint - ATIF Holdings Limited has entered into definitive agreements for a registered direct offering and a concurrent private placement, aiming to raise approximately $2.5 million through the sale of ordinary shares and pre-funded warrants [1][3]. Group 1: Offering Details - The transactions involve the sale of 1,580,000 ordinary shares at an offering price of $1.00 each and 887,553 pre-funded warrants, which will be sold together with warrants to purchase one ordinary share at an exercise price of $1.20 [2]. - The pre-funded warrants are immediately exercisable and can be exercised at any time until fully exercised [2]. Group 2: Financial Proceeds and Use - The aggregate gross proceeds from both transactions are expected to be approximately $2.5 million, with the closing anticipated on or about February 5, 2025, subject to customary closing conditions [3]. - The company plans to use the net proceeds from the offerings, along with existing cash, for general corporate purposes and working capital [3]. Group 3: Regulatory and Legal Aspects - The registered direct offering is made under an effective shelf registration statement previously filed with the SEC [5]. - The private placement securities are not registered under the Securities Act and are offered only to accredited investors [6].

Financial Performance - Revenues for the three months ended October 31, 2024, were $125,000, a decrease from $31 in the same period of 2023[23]. - Total operating expenses decreased to $521,109 for the three months ended October 31, 2024, down from $781,779 in the same period of 2023, reflecting a reduction of approximately 33.3%[23]. - Net loss for the three months ended October 31, 2024, was $367,074, compared to a net loss of $625,463 for the same period in 2023, indicating an improvement of approximately 41.3%[23]. - The company reported a loss per share of $0.03 for the three months ended October 31, 2024, compared to a loss per share of $0.06 for the same period in 2023[23]. - For the three months ended October 31, 2024, the Company reported a net loss of approximately $0.4 million, compared to a net loss of $0.6 million for the same period in 2023, indicating a 33.33% improvement in net loss year-over-year[32]. - Total revenue from consulting services decreased to $nil for the three months ended October 31, 2024, down from approximately $0.1 million for the same period in 2023, representing a 100% decrease[112][120]. Assets and Liabilities - Total current assets increased to $5,785,278 as of October 31, 2024, compared to $2,898,748 as of July 31, 2024, representing a growth of approximately 99.5%[21]. - Cash and cash equivalents decreased to $457,764 as of October 31, 2024, from $1,249,376 as of July 31, 2024, a decline of approximately 63.3%[21]. - Total liabilities decreased to $886,838 as of October 31, 2024, from $1,258,834 as of July 31, 2024, representing a reduction of approximately 29.5%[21]. - Shareholders' equity increased to $4,997,680 as of October 31, 2024, compared to $1,753,754 as of July 31, 2024, reflecting a growth of approximately 185.5%[21]. - As of October 31, 2024, the Company had cash of approximately $0.5 million and short-term investments in trading securities of approximately $4.2 million, which could cover current liabilities of approximately $0.6 million[33]. Cash Flow - Operating cash outflows for the three months ended October 31, 2024, were approximately $0.8 million, while the previous year had operating cash inflows of approximately $0.2 million, reflecting a significant change in cash flow dynamics[32]. - Cash at the end of the period on October 31, 2024, was approximately $0.5 million, with current liabilities of approximately $0.6 million[130]. Investments and Securities - The Company recognized a gain of $148,158 and a loss of $109,404 from investments in trading securities for the three months ended October 31, 2024, and 2023, respectively[42]. - Loss from investment in trading securities was approximately $0.1 million for the three months ended October 31, 2023, compared to a gain of approximately $0.1 million for the same period in 2024[124]. Operational Changes and Future Plans - The Company plans to transition its consulting services from PRC-based customers to more international customers to mitigate revenue concentration risks[66]. - The Company has shifted its geographic focus from China to North America, emphasizing assistance to mid and small companies in becoming public on U.S. capital markets[110]. - The Company plans to expand operations to other Asian countries, including Malaysia, Vietnam, and Singapore, while maintaining a focus on the North American market[110]. Legal and Compliance Issues - The company is currently involved in a lawsuit filed by J.P. Morgan Securities LLC, claiming $5,064,160 in damages related to a stock transaction[157]. - The company is evaluating claims and defenses related to the lawsuit with J.P. Morgan Securities LLC, and mediation efforts have been attempted[158]. - A settlement agreement was reached with Boustead, requiring the company to pay a total of $1,000,000 in three installments, with the first installment of $250,000 due upon execution of the agreement[156]. - The court has granted Boustead leave to amend its complaint, focusing solely on breach of contract claims[152]. - The company filed a motion to compel arbitration in response to Boustead's claims, which has been granted by the court[153]. Management and Internal Controls - The Company’s ability to continue as a going concern is dependent on management's ability to successfully execute its business plan, which includes increasing revenue while controlling operating costs[33]. - The Company has a history of net losses from operations and cash outflows from operating activities, raising substantial doubt about its ability to continue as a going concern[32]. - The financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business[34]. - As of October 31, 2024, the company's disclosure controls and procedures were deemed ineffective due to insufficient full-time accounting and financial reporting personnel[143]. - The company is in the process of hiring qualified accounting personnel and implementing training programs to strengthen financial reporting functions[143]. - The company has established a plan to implement regular U.S. GAAP accounting training for its personnel to address compliance issues[143]. - The company is working on establishing an internal audit function and standardizing financial reporting processes[143].

Company Overview - New Century Logistics (BVI) Limited is a freight forwarding service provider founded and based in Hong Kong, offering air and ocean export and import freight forwarding services [2][3] - The company has been operational since 2004 and has provided routes to over 140 countries, managed by professionals with over 20 years of combined expertise in the industry [3] Initial Public Offering (IPO) Details - New Century is conducting its initial public offering on the Nasdaq Exchange, offering 1,500,000 shares at an open offer price of $4.00 per share, aiming to raise $6,000,000 [1][2] - The IPO is expected to close on or about December 18, 2024 [2] Strategic Insights - Jun Liu, President and CEO of ATIF Holdings Limited, expressed excitement about New Century's Nasdaq listing, viewing it as a recognition of past achievements and a new starting point for future growth [3] - The listing is anticipated to provide New Century with additional resources and opportunities to drive growth and innovation [3] Consulting and Advisory Services - ATIF Holdings Limited specializes in providing professional IPO, M&A advisory, and post-IPO compliance services to small and medium-sized companies seeking to go public in the U.S. [4] - The company has a proven track record in delivering comprehensive U.S. IPO consulting services, recognized for its excellence in the financial and securities industry [4]

Company Overview - ATIF Holdings Limited is a business consulting company based in Lake Forest, California, specializing in IPO, M&A advisory, and post-IPO compliance services for small and medium-sized companies seeking to go public in the U.S. [3] - The company has a proven track record in delivering comprehensive U.S. IPO consulting services, primarily to clients in the United States and internationally [3]. - ATIF aims to simplify the complex process of going public while ensuring optimal outcomes for its clients through its comprehensive consulting services [3]. - The company has received the "Golden Bauhinia Award," recognizing it as one of the "Top 10 Best Listed Companies" in the financial and securities industry in Hong Kong [3]. Ticker Symbol Change - ATIF Holdings Limited will change its ticker symbol from "ATIF" to "ZBAI," effective on or around December 18, 2024 [1]. - Existing shareholders do not need to take any action regarding the ticker symbol change, and the company's Ordinary Shares will continue to be listed on Nasdaq with an unchanged CUSIP [2].

Group 1 - ATIF Holdings Limited will change its ticker symbol from "ATIF" to "ZBAI" effective on or around December 18, 2024 [1] - Existing shareholders do not need to take any action regarding the ticker symbol change, and the company's Ordinary Shares will continue to be listed on Nasdaq with an unchanged CUSIP [2] Group 2 - ATIF Holdings Limited is a business consulting company based in Lake Forest, specializing in IPO, M&A advisory, and post-IPO compliance services for small and medium-sized companies [3] - The company has a proven track record in delivering comprehensive U.S. IPO consulting services, primarily to clients in the United States and internationally [3] - ATIF aims to simplify the complex process of going public while ensuring optimal outcomes for its clients through comprehensive consulting services [3] - The company has received the "Golden Bauhinia Award" for being one of the "Top 10 Best Listed Companies" in the financial and securities industry in Hong Kong [3]

Company Announcement - ATIF Holdings Limited plans to change its Nasdaq ticker symbol from "ATIF" to "ZBAI" with the announcement of the date and detailed plans expected by the end of December 2024 [1] - No actions will be required by existing shareholders regarding the ticker symbol change, and the company's Ordinary Shares will continue to be listed on Nasdaq with the CUSIP remaining unchanged [2] Company Overview - ATIF Holdings Limited is a business consulting company based in Lake Forest, specializing in IPO, M&A advisory, and post-IPO compliance services for small and medium-sized companies seeking to go public in the United States [3] - The company has a proven track record in delivering comprehensive U.S. IPO consulting services, primarily to clients in the United States and internationally [3] - ATIF aims to simplify the complex process of going public while ensuring optimal outcomes for its clients through its comprehensive consulting services [3] - The company has received the "Golden Bauhinia Award," the highest award in the financial and securities industry in Hong Kong, for being one of the "Top 10 Best Listed Companies" [3]

Company Announcement - ATIF Holdings Limited plans to change its Nasdaq ticker symbol from "ATIF" to "ZBAI" with the announcement of the date and detailed plans expected by the end of December 2024 [1] - No actions will be required by existing shareholders regarding the ticker symbol change, and the company's Ordinary Shares will continue to be listed on Nasdaq with the CUSIP remaining unchanged [2] Company Overview - ATIF Holdings Limited is a business consulting company based in Lake Forest, specializing in IPO, M&A advisory, and post-IPO compliance services for small and medium-sized companies seeking to go public in the United States [3] - The company has a proven track record in delivering comprehensive U.S. IPO consulting services, primarily to clients in the United States and internationally [3] - ATIF aims to simplify the complex process of going public while ensuring optimal outcomes for its clients through its comprehensive consulting services [3] - The company has received the "Golden Bauhinia Award," the highest award in the financial and securities industry in Hong Kong, for being one of the "Top 10 Best Listed Companies" [3]

Revenue Performance - Total revenue decreased by approximately $1.8 million, or 75%, from approximately $2.5 million in fiscal year 2023 to approximately $0.6 million in fiscal year 2024[251] - Revenue from consulting services to third parties was approximately $0.4 million for the fiscal year ended July 31, 2024, compared to approximately $1.2 million for the fiscal year ended July 31, 2023, reflecting a decrease of approximately $0.8 million[253] - Revenues from related parties decreased by approximately $1.1 million, or 85%, from approximately $1.3 million in fiscal year 2023 to approximately $0.2 million in fiscal year 2024[250] Expenses - Selling expenses increased by approximately $0.1 million, or 61%, from approximately $0.2 million in fiscal year 2023 to approximately $0.3 million in fiscal year 2024[256] - General and administrative expenses remained stable at approximately $2.3 million and $2.2 million for the fiscal years ended July 31, 2024 and 2023, respectively[258] - Loss from operations increased by approximately $1.2 million, or 158%, from approximately $0.8 million in fiscal year 2023 to approximately $2.0 million in fiscal year 2024[252] Net Loss - Net loss for the fiscal year ended July 31, 2024, was approximately $3.2 million, an increase of $0.3 million from a net loss of approximately $2.9 million in fiscal year 2023[265] - For the fiscal year ended July 31, 2024, the company reported a net loss of approximately $3.2 million, compared to a net loss of $2.9 million for the fiscal year ended July 31, 2023[268] Cash Flow and Liquidity - The company had cash of $1.2 million and current liabilities of $1.0 million as of July 31, 2024, indicating that cash on hand could cover current liabilities[269] - Net cash used in operating activities was approximately $0.1 million for the fiscal year ended July 31, 2024, a significant improvement from $2.3 million in the previous fiscal year[274][275] - Net cash used in investing activities was approximately $1.6 million in fiscal year 2024, primarily due to loans made to a related party and investments in trading securities[276] - Net cash provided by financing activities was approximately $2.3 million in fiscal year 2024, resulting from the issuance of ordinary shares through a private placement[278] - The company reported a net increase in cash of $643,354 for the fiscal year ended July 31, 2024, compared to a net decrease of $1,144,115 in the previous year[272] - The company had a short-term investment in trading securities of $0.4 million and accounts receivable of $0.2 million due from a related party, which were highly liquid[269] Future Outlook - The company plans to expand operations to other Asian countries, such as Malaysia, Vietnam, and Singapore, while continuing to focus on the North American market[239] - The company has successfully helped nine Chinese enterprises to be quoted on the U.S. OTC markets since its inception[239] - The company’s ability to continue as a going concern is dependent on management's ability to execute its business plan, which includes increasing revenue and controlling operating costs[269] - The company monitors its cash flow and operating expenses to assess its ability to continue as a going concern, indicating substantial doubt about its future viability[268] Dividends - The company has not declared or paid any cash dividends to shareholders and does not plan to do so from its restricted net assets as of July 31, 2024[271]