What changed in this filing

/stocks — the workspaceLOADING

Item 9A. Controls and Procedures

2025-10-14 compared with 2024-09-30 · 457 added, 282 removed, 635 unchanged (54% of the section changed)

19 unchanged sentences

in Internal Control-Integrated Framework (2013) (COSO).

Based on the assessment, management concluded that, as of June 30, 2024,

the Company’s internal controls over financial reporting were not effective.

Based on the assessment, management concluded that, as of June 30, 2025, the

Company’s internal controls over financial reporting were not effective.

identified material weaknesses in our internal controls over financial reporting.

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years ended June 30, 2025 and 2024.

Name of Directors

other compensation

CEO, Chairman

CEO, Chairman & Director

CFO & Director

Wong Ching Wing

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do not have any outstanding warrant, options, or other securities exercisable for or convertible into shares of our Common Stock.

Name of Beneficial Owner

Percentage of

Wo Kuk Ching (Chief Executive Officer, President, and Director) (1)

Wong Ching Wing (Chief Financial Officer, Treasurer, and Director (2)

Name of Beneficial

Wo Kuk Ching (Chief Executive Officer,

President, and Director) (1)

Wong Ching Wing (Chief Financial Officer, Treasurer,

and Director (2)

Wong Erin (Secretary)

All executive officers and directors as a group (3 persons named above)

All executive officers and

directors as a group (3 persons named above)

Empower International Trading Sdn.

Other owners of the Company

Kuk Ching, our Chief Executive Officer, President, and Director, and currently owns 56,882,222 shares of our Common Stock, approximately

35.15% of total issued and outstanding shares.

Kuk Ching, our Chief Executive Officer, President, and Director, and currently owns 56,882,222

shares of our Common Stock, approximately 35.15% of total issued and outstanding shares.

Wo is mother of our Chief Financial Officer, Treasurer and Director, Wong Ching Wing (“Elise”) and our Secretary, Wong

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Wo is also spouse of our former Chief Executive Officer and Director, Luo Xiong (“Mr.

Ching Wing (“Elise”), our Chief Financial Officer, Treasurer and Director, and currently owns 6,453,968 shares of our

Common Stock, approximately 3.99% of total issued and outstanding shares.

Ching Wing (“Elise”), our Chief Financial Officer, Treasurer and Director, and

currently owns 6,453,968 shares of our Common Stock, approximately 3.99% of total issued

and outstanding shares.

is daughter of our Chief Executive Officer, President, and Director, Ms.

Wo and sister of our Secretary, Erin.

Erin (“Erin”), our Secretary, and currently owns 6,453,968 shares of our Common Stock, approximately 3.99% of total issued

and outstanding shares.

Erin (“Erin”), our Secretary, and currently owns 6,453,968 shares of our Common

Stock, approximately 3.99% of total issued and outstanding shares.

is daughter of our Chief Executive Officer, President, and Director, Ms.

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International Trading Sdn.

(“Empower”), a Malaysia corporation, currently owns 75,484,125 shares of our Common Stock,

approximately 46.65% of total issued and outstanding shares.

(“Empower”), a Malaysia corporation, currently

owns 75,484,125 shares of our Common Stock, approximately 46.65% of total issued and outstanding

Xiong, spouse of our Chief Executive Officer, President and Director, Wo Kuk Ching, is sole director and shareholder of Empower.

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years indicated.

ACCOUNTING FEES AND SERVICES

For the years ended June 30,

FEES AND SERVICES

the years ended June 30,

Audit Fees (1)

Audit-Related Fees (2)

All Other Fees (4)

This category consists of fees for professional services rendered by our principal independent registered public accountants for the

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the professional services rendered by principal accountants for the audit of our annual financial statements that are normally provided

by the accountant in connection with statutory and regulatory filings or engagements by AUDIT ALLIANCE LLP (2024) and Weinberg &

Company, P.A.

(2023) were approved by our board of directors.

by the accountant in connection with statutory and regulatory filings or engagements by AUDIT ALLIANCE LLP was approved by our board

of directors.

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

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Section 1350 Certification of principal financial officer*

Inline XBRL Instance Document*

Inline XBRL Schema Document*

Inline XBRL Calculation Linkbase Document*

Inline XBRL Definition Linkbase Document*

Inline XBRL Label Linkbase Document*

Inline XBRL Presentation Linkbase Document*

Cover Page Interactive Data File (embedded within the Inline XBRL document)

accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned,

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Green Land Corp.

September 30, 2024

October 14 , 2025

& Chief Executive Officer, Director

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Consolidated Statements of Operations and Comprehensive Loss

Consolidated Statements of

Stockholders’ Equity (Deficit)

Consolidated Statements of Stockholders’ (Deficit)

Consolidated Statements of Cash Flows

Notes to Cinsolidated Financial Statements

Notes to Consolidated Financial Statements

OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

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on the Financial Statements

have audited the accompanying consolidated balance sheets of Sino Green Land Corporation and its

subsidiaries (the “Company”) as of June 30, 2024, the related consolidated statements of operations and comprehensive

loss, changes in stockholders’ equity (deficit), and cash flows for the year then ended June 30, 2024, and the related

notes (collectively referred to as the “consolidated financial statements”).

have audited the accompanying consolidated balance sheets of Sino Green Land Corporation and its subsidiaries (the

“Company”) as of June 30, 2025 and 2024, the related consolidated statements of operations and comprehensive loss,

changes in stockholders’ deficit, and cash flows for the years then ended June 30, 2025 and 2024, and the related notes

(collectively referred to as 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 June 30, 2024, and the results of

its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the

United States of America (“U.S.

statements present fairly, in all material respects, the financial position of the Company as of June 30, 2025 and 2024, and the

results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in

the United States of America (“U.S.

Uncertainty Related to Going Concern

accompanying financial statements have been prepared assuming that the Company will continue as a going concern.

consolidated financial statements have been prepared assuming that the Company will continue as a going concern.

As discussed in Note

1 to the financial statements, during the year ended June 30, 2024, the Company incurred a net loss of $798,804 and used cash in operating

activities of $752,278, result in an accumulated deficit of $2,891,559.

The Company’s current liabilities exceeded current assets

$2,679,437, and the stockholder deficit of $560,144.

These conditions raise substantial doubt about the Company’s ability

to continue as a going concern.

Management’s plans regarding these matters are also described in Note 1.

The financial statements

do not include any adjustments that might result from the outcome of this uncertainty.

1 to the consolidated financial statements, during the year ended June 30, 2025, the Company incurred a net loss of $1,808,994 and

used cash in operating activities of $845,971, result in an accumulated deficit of $4,700,553.

The Company’s

current liabilities exceeded current assets $4,442,949, and the stockholder deficit of $2,394,659.

These conditions

raise substantial doubt about the Company’s ability to continue as a going concern.

Management’s plans regarding these matters

are also described in Note 1.

The consolidated financial statements do not include any adjustments that might result from the outcome

of this uncertainty.

consolidated financial statements are the responsibility of the Company’s management.

Our responsibility is to express

an opinion on the Company’s consolidated 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.

Our responsibility is to express an opinion

on the Company’s consolidated 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.

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 consolidated 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

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.

we express no such opinion.

Those standards require that we plan and perform the audits to obtain

reasonable assurance about whether the consolidated 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.

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.

audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether

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regarding the amounts and disclosures in the consolidated 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 consolidated financial

We believe that our audits provides a reasonable basis for our opinion.

Our audits also included evaluating the accounting principles

used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.

We believe that our audits provide a reasonable basis for our opinion.

have served as the Company’s auditor since 2024.

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OF JUNE 30, 2025 AND 2024

IN US DOLLARS)

Current assets

Cash and cash

Cash and cash equivalents

Accounts receivable

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Total current assets

Property, plant and equipment,

Operating lease Right-of-use

Non-current assets

Property, plant and equipment, net

Financing lease Right-of-use

and Stockholders’ Equity

Liabilities and Stockholders’

Current liabilities

Accounts payable

Accrued liabilities and other

C ontract liabilities

Convertible note payable

Accrued liabilities and other payable

Contract liabilities

Loan from third party

Bank loan payable - current

Short-term borrowing

Amount due to the related

Amount due to the related parties

Financing Lease liabilities

Operating Lease liabilities

Total current liabilities

Bank loan payable –

Non-current liabilities

Bank loan payable – non-current

Financing Lease liabilities

– non-current

Operating Lease liabilities

– non-current

Total Liabilities

Stockholders’

Preferred Stock, $ 0.001 par

Stockholders’ Deficit

Preferred Stock, $ 0.001 par value;

shares authorized;

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Additional paid in capital

Accumulated other comprehensive

Accumulated other comprehensive income

Accumulated deficit

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Total stockholders’

equity (deficit)

Total Liabilities and Stockholders’

Equity (Deficit)

accompanying notes are an integral part of these financial statements.

( 2,394,659 )

Total Liabilities and

Stockholders’ Deficit

accompanying notes are an integral part of these consolidated financial statements.

GREEN LAND CORPORATION

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THE YEARS ENDED JUNE 30, 2025 AND 2024

IN US DOLLARS)

ended June 30,

and administrative expenses

from operations

income (expenses):

Cost of revenues

( 2,593,124 )

( 2,163,421 )

( 1,254,824 )

Operating expenses:

General and administrative

Loss from operations

( 1,691,773 )

Other income (expenses):

Gain on disposal of property, plant and equipment

Interest income

Interest expenses

expenses, net

loss before tax

comprehensive (loss) / income:

currency translation (loss) / income

comprehensive loss

accompanying notes are an integral part of these financial statements.

Net loss before tax

( 1,808,994 )

Income tax expenses

Other comprehensive (loss):

currency translation loss

Total comprehensive

$ ( 1,834,515 )

$ ( 834,962 )

accompanying notes are an integral part of these consolidated financial statements.

GREEN LAND CORPORATION

STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT)

STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

THE YEARS ENDED JUNE 30, 2025 AND 2024

Stockholders’

IN US DOLLARS)

Comprehensive

Stockholders’

Balance as of June 30, 2023

( 2,092,755 )

Capital contribution attributable to related party debt extinguishment

Foreign currency translation

Balance as of June 30, 2024

( 2,891,559 )

$ ( 560,144 )

Foreign currency translation adjustment

Balance as of June 30, 2023

( 2,891,559 )

$ ( 560,144 )

Foreign currency translation adjustment

( 1,808,994 )

Foreign currency translation

Balance as of June

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$ ( 2,394,659 )

accompanying notes are an integral part of these financial statements.

accompanying notes are an integral part of these consolidated financial statements.

GREEN LAND CORPORATION

STATEMENTS OF CASH FLOWS

THE YEAR ENDED JUNE 30, 2024 AND 2023

Year ended June 30,

THE YEARS ENDED JUNE 30, 2025 AND 2024

IN US DOLLARS)

ended June 30,

Cash flows from operating activities

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$ ( 798,804 )

Adjustments to reconcile net income to net cash used in operating activities:

Adjustments to reconcile net income to net

cash used in operating activities:

Amortization expenses

Depreciation expenses

Gain on disposal of property,

plant and equipment

Interest expenses

Provision for the inventory

Allowance for Impairment of Other Receivables

Changes in operating assets and liabilities

Accounts receivable

Prepaid expenses and other current assets

Operating lease Right of use assets

Prepaid expenses and other

current assets

Operating lease Right of

Accounts payable

Accrued liabilities and other payable

C ontract liabilities

Operating lease liabilities

Net cash used in operating activities

Cash flows from investing activity

Acquisition of property and equipment

Net cash used in investing activity

Accrued liabilities and

other payable

Contract liabilities

lease liabilities

cash used in operating activities

Cash flows from investing activities

Acquisition of property,

plant and equipment

from disposal of property, plant and equipment

cash used in investing activities

Cash flows from financing activities

Advances from related parties, net

Payments on finance lease liabilities

Principal payments of notes payable, secured

Proceeds from notes payable, unsecured

Proceeds from convertible note payable

Short term borrowing

Net cash provided by financing activities

Effect of exchange rate changes on cash and cash equivalents

Payment of interest

Advances from related parties,

Principle payment on finance lease

Principal payments of bank loan, secured

Proceeds from notes payable,

term borrowing

cash provided by financing activities

Effect of exchange rate

changes on cash and cash equivalents

Net changes in cash and cash equivalents

Cash and cash equivalents-beginning of the year

Cash and cash equivalents-ended of the year

Supplementary cash flow information:

Cash and cash equivalents-beginning

Cash and cash equivalents-ended

Supplementary of cash flow

Interest paid

$ ( 123,168 )

Income taxes paid

Non-cash investing and financing activities:

Acquisition of factory building No.

Supplementary of non-cash information:

Acquisition of factory

5 with note payable, secured

Acquisition of two vehicles with note payable, secured

Liabilities assumed in connection with purchase of vehicles

Capital contribution attributable to related party debt extinguishment

accompanying notes are an integral part of these financial statements.

Acquisition of two vehicles

with note payable, secured

assumed in connection with purchase of vehicles

accompanying notes are an integral part of these consolidated financial statements.

GREEN LAND CORPORATION

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method of accounting.

accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates

the realization of assets and the discharge of liabilities in the normal course of business for the foreseeable future.

ended June 30, 2024, the Company incurred a net loss of $ 798,804 and used cash in operating activities of $ 752,278 .

These factors raise

substantial doubt about the Company’s ability to continue as a going concern within one year after the date the financial statements

The Company’s financial statements do not include any adjustments that might result from the outcome of this uncertainty

should we be unable to continue as a going concern.

estimates that the current funds on hand will be sufficient to continue operations through the next nine months.

The continuation of

the Company as a going concern is dependent upon (1) the continued financial support from its stockholders or

its ability to obtain external financing, and (2) further implement management’s business plan to extend its operations and generate

sufficient revenues to meet its obligations.

While the Company believes in the viability of its strategy to increase sales volume and

in its ability to raise additional funds, there can be neither any assurances to that effect, nor any assurance that the Company will

be successful in securing sufficient funds to sustain the operations.

Management believes that the actions presently being taken to obtain

additional funding and implement its strategic plan provides the opportunity for the Company to continue as a going concern.

As reported in the accompanying consolidated financial

statements, the Company incurred a net loss in the amount of $ 1,808,994 and net operating cash outflow in the amount of $ 845,971 during

the year ended June 30, 2025 and had an accumulated losses of $ 4,700,553 and the stockholder deficit of $ 2,394,659 as of June 30, 2025.

Management of the Company has evaluated the sufficiency

of additional capital resources.

Management’s plan is to obtain such resources by seeking debt financing and/or third-party equity sufficient

to meet its minimal operating expenses.

Besides, management has taken immediate and significant mitigating actions to reduce costs and

optimize the Company’s cash flow and liquidity.

Measures includes reducing expenditure through deferring or canceling discretionary spend,

freezing non-essential recruitment and securing new round of equity financing to replenish working capital.

The Company has also acquired

the financial support letter from Empower International Trading Sdn.

Bhd., the holding company of the Company, who has expressed the willingness

and intention to provide the necessary financial support to the Company.

However, there is uncertainty as to whether these plans will

be effectively implemented or yield sufficient results.

Accordingly, the Company’s consolidated financial

statements are prepared on a going concern basis, which assumes that the Company will continue in operation for the foreseeable future

and, accordingly, will be able to realize its assets and discharge its liabilities in the normal course of operations as they fall due.

In the event the Company will not be able to continue as a going concern, adjustments will have to be made to reflect the situation that

assets will need to be realised other than in the amounts at which they are currently recorded in the balance sheet.

In addition, the

Company may have to provide for further liabilities that might arise and to reclassify non-current assets and liabilities as current assets

and liabilities.

of Presentation

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in the United States of America (“U.S.

preparation of our financial statements in conformity with US GAAP requires management to make certain estimates and assumptions that

affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities.

results could differ from those estimates.

On an ongoing basis, management reviews its estimates and if deemed appropriate, those estimates

are adjusted.

Significant estimates include those related to assumptions used in valuing inventories at net realizable value, accruals

for potential liabilities, and assumptions used in the determination of the Company’s liquidity.

Actual results could differ from

those estimates.

The preparation of financial statements in conformity

GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures

of contingent assets and liabilities on the date of the financial statements, and the reported amounts of revenue and expenses during

the reporting period.

Actual results could differ from those estimates.

On an ongoing basis, management reviews these estimates and assumptions

using the currently available information.

Changes in facts and circumstances may cause the Company to revise its estimates.

In accordance

with ASC250, the changes in estimates will be recognized in the same period of changes in facts and·and circumstances.

bases its estimates on past experiences and on various other assumptions that are believed to be reasonable, the results of which form

the basis for making judgments about the carrying values of assets and liabilities.

Estimates are used when accounting for items and matters

including, but not limited to, allowances for expected credit losses, estimates for inventory provisions, useful lives and impairment

of long lived assets, and valuation:allowance for deferred tax assets.

Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with

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price to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied.

Company generates revenue primarily from the sales of plastic recycle products directly to customers.

The Company recognizes revenue

at a point in time when the control of the products has been transferred to customers.

The transfer of control is considered complete

when products have been picked up by our customers or delivered to our customers.

The Company recognizes revenues net of sales discount

and relevant charges, and accounts for packaging, shipping and handling fees as a fulfilment cost.

The majority of the Company’s

revenues are generated from customers in Malaysia.

The Company generates revenue primarily from the sales of plastic recycled products.

We enter into sales contracts

with the customers as a principal.

The contracts contain only one performance obligation for domestic customers, transferring the plastic

recycled products to the customers in exchange for consideration.

Revenue is recognized at a point in time when control

of the goods is transferred to the customer, which occurs upon delivery.

The Company considers a signed delivery receipt as objective

evidence of transfer of control.

The terms of pricing and payment stipulated in the

contract are fixed.

30% deposit payable upon signing of Sales Contract, 70% payable upon delivery the plastic recycled products to the

designated location.

We recognize revenue at a point in time when the control of the products has been transferred to customers.

transfer of control is considered complete when products have been accepted and received by customers.

In the normal course of business,

our products are sold with no right of return unless the item is defective.

Each contract contains a single performance obligation

for the transfer of goods, as the promise is to transfer a series of distinct items that are substantially the same and have the same

pattern of transfer.

The Company satisfies this performance obligation and recognizes revenue at a point in time when control of the goods

is transferred to the customer, which occurs upon delivery.

A signed delivery receipt serves as evidence of transfer.

Significant payment terms are as agreed in the contracts,

with payment typically due within a short-term credit period.

The contracts do not contain a significant financing component, and variable

consideration is not significant.

The Company acts as the principal in all arrangements.

Obligations for returns, refunds, or warranties

beyond standard assurance are not offered.

The transaction price is the fixed amount of consideration

stated in the sales contract.

As the contracts contain a single performance obligation, no allocation is necessary.

Costs incurred for

packaging and shipping are recognized as expenses when incurred.

and cash equivalents

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OF PRIMARY BANK DEPOSITS

June 30, 2024

June 30, 2023

Cash, cash equivalents, and restricted cash

Denominated in United States Dollars

Cash, cash equivalents

Denominated in United States

Denominated in Chinese Renminbi

Denominated in Malaysian Ringgit

Denominated in Malaysian

Cash and cash equivalents

receivables are recorded at net realizable value consisting of the carrying amount less an allowance for uncollectible accounts, as needed.

The Company uses the allowance method to account for uncollectible trade receivable balances.

Under the allowance method, if needed,

an estimate of uncollectible customer balances is made based upon specific account balances that are considered uncollectible.

used to establish an allowance include the credit quality and payment history of the customer.

The Company did not deem it necessary

to provide an allowance for doubtful accounts as of June 30, 2024 and 2023.

are stated at the lower of cost or net realizable value, with cost determined on a first-in, first-out (“FIFO”) basis.

Company records adjustments to its inventory based on an estimated forecast of the inventory demand, taking into consideration, among

others, inventory turnover, inventory quantities on hand, unfilled customer order quantities, forecasted demand, current prices, competitive

Accounts receivable are recorded at the gross billing

amount less an allowance for expected credit losses from the customers.

Accounts receivable do not bear interest.

Since July 1, 2022, the Company adopted Accounting

Standards Update ( “ ASU ” ) No.

Financial Instruments-Credit Losses (Topic 326):

Measurement of Credit Losses on Financial Instruments ( “ ASU

2016-13 ” ), using the modified retrospective transition method.

ASU 2016-13 replaces the

existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses.

Upon adoption, the Company changed the impairment model to utilize a forward-looking current expected credit losses (CECL) model in place

of the incurred loss methodology for financial instruments measured at amortized cost and receivables resulting from the application of

ASC 606, including contract assets.

The Company maintains an allowance for credit losses

in accordance with ASC Topic 326, Credit Losses ( “ ASC 326 ” )

and records the allowance for credit losses as an offset to accounts receivable and contract assets, and the estimated credit losses charged

to the allowance in the combined statements of operations and comprehensive income (loss).

The Company assesses collectability by reviewing

accounts receivable on a collective basis where similar characteristics exist, primarily based on similar business lines, services or

product offerings and on an individual basis when the Company identifies specific customers with known disputes or collectability issues.

In determining the amount of the allowance for credit losses, the Company considers historical collectability based on past due status,

the age of the accounts receivable balances and contract assets balances, credit quality of the Company ’ s

customers based on ongoing credit evaluations, current economic conditions, reasonable and supportable forecasts of future economic conditions,

and other factors that may affect the Company ’ s ability to collect from customer.

For the years ended June 30, 2025 and 2024, the Company

did not provide expected credit losses against accounts receivable.

are stated at the lower of cost or net realizable value, with cost determined on the weighted average cost basis.

records adjustments to its inventory based on an estimated forecast of the inventory demand, taking into consideration, among others,

inventory turnover, inventory quantities on hand, unfilled customer order quantities, forecasted demand, current prices, competitive

pricing, and trends and performance of similar products.

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it creates a new cost basis for inventory that may not be subsequently written up.

For the years ended June 30, 2024 and 2023, there

was no write down of inventory.

For the years ended June 30, 2025, there was USD 119,886

write down of inventory.

For the years ended June 30, 2024, there was no write down of inventory.

plant and equipment, net

plant and equipment are stated at cost less accumulated depreciation and amortization.

plant and equipment are stated at cost less accumulated depreciation.

Depreciation is calculated on the straight-line

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estimated residual values:

OF ESTIMATED USEFUL LIVE

SCHEDULE OF ESTIMATED USEFUL LIVES

the shorter of estimated useful life or term of lease

assesses the carrying value of property and equipment whenever events or changes in circumstances indicate that the carrying value may

assesses the carrying value of property, plant and equipment whenever events or changes in circumstances indicate that the carrying value may

not be recoverable.

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For the years ended June 30, 2025 and 2024, the Company determined

there were no indicators of impairment of its property and equipment.

Company accounts for its leases in accordance with the guidance of ASC 842, Leases.

The Company determines whether a contract is, or

contains, a lease at inception.

Right-of-use assets represent the Company’s right to use an underlying asset during the lease term,

and lease liabilities represent the Company’s obligation to make lease payments arising from the lease.

Right-of-use assets and

lease liabilities are recognized at lease commencement based upon the estimated present value of unpaid lease payments over the lease

The Company uses its incremental borrowing rate based on the information available at lease commencement in determining the present

value of unpaid lease payments.

there were no indicators of impairment of its property, plant and equipment.

From January 1, 2022, the

Group adopted Accounting Standards Update (“ASU”) 2016-02, Lease (FASB ASC Topic 842).

The adoption of Topic 842 resulted

in the presentation of operating lease right-of-use (“ROU”) assets and operating lease liabilities on the consolidated balance

The Group has elected the package of practical expedients, which allows the Group not to reassess (1) whether any expired or existing

contracts as of the adoption date are or contain a lease, (2) lease classification for any expired or existing leases as of the adoption

date and (3) initial direct costs for any expired or existing leases as of the adoption date.

Lastly, the Group elected the short-term

lease exemption for all contracts with lease terms of 12 months or less.

At inception of a contract,

the Group assesses whether a contract is, or contains, a lease.

A contract is a lease if it conveys the right to control the use of an

identified asset for a period of time in exchange of a consideration.

To assess whether a contract is or contains a lease, the Group assess

whether the contract involves the use of an identified asset, whether it has the right to obtain substantially all the economic benefits

from the use of the asset and whether it has the right to control the use of the asset.

Operating lease assets are

included within “ Operating lease right-of-use assets”, and the corresponding operating

lease liabilities are included within “ operating lease liabilities” for the current

portion, and within “ Operating lease liabilities, non-current” for the long-term

portion on the combined balance sheets as of June 30, 2025 and 2024.

Finance lease assets are included within “ Property

and equipment, net” and the corresponding finance lease liabilities are included within “ Finance

lease liabilities” for the current portion, and within “ Finance lease liabilities,

non-current” for the long-term portion on the combined balance sheets as of June 30, 2025 and 2024.

The initial lease liability

is equal to the future fixed minimum lease payments discounted using the Company’s incremental borrowing rate, on a secured basis.

The lease term includes optional renewal periods and early termination payments when it is reasonably certain that the Company will exercise

those rights.

The initial measurement of the right-of-use asset is equal to the initial lease liability plus any initial direct costs

and prepayments, less any lease incentives.

Company accounts for income taxes using the asset and liability method whereby deferred tax assets are recognized for deductible temporary

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by the taxing authorities based on technical merits of the position.

The tax benefits recognized in the financial statements from such

a position are measured based on the largest benefit that has greater than 50 percent likelihood of being realized upon ultimate resolution.

The tax benefits recognized in the consolidated financial statements

from such a position are measured based on the largest benefit that has greater than 50 percent likelihood of being realized upon ultimate

Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

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approximate their fair values due to the fact that the interest rates on these obligations are based on prevailing market interest rates.

Company operates in one segment for the manufacture and distribution of its products.

In accordance with the “Segment Reporting”

Topic of the ASC, the Company’s chief operating decision maker has been identified as the Chief Executive Officer and President,

who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company.

guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information

quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the

entity holds material assets and reports revenue.

All material operating units qualify for aggregation under “Segment Reporting”

due to their similar customer base and similarities in:

economic characteristics;

nature of products and services;

and procurement, manufacturing

and distribution processes.

Since the Company operates in one segment, all financial information required by “Segment Reporting”

can be found in the accompanying financial statements.

An operating segment is a component of the Company

that engages in business activities from which it may earn revenue and incur expenses and is identified on the basis of the internal financial

reports that are provided to and regularly reviewed by the Company’s chief operating decision maker in order to allocate resources

and assess performance of the segment.

In accordance with ASC 280, Segment Reporting,

operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated

regularly by the chief operating decision maker (“CODM”), in deciding how to allocate resources and in assessing performance.

The Company’s revenue segments have similar economic characteristics and they are managed as a single business unit.

uses the “management approach” in determining reportable operating segments.

The management approach considers the internal

organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance

as the source for determining the Company’s reportable segments.

The Company’s CODM has been identified as the chief executive

officer (the “CEO”), who reviews consolidated results when making decisions about allocating resources and assessing performance

of the Company.

The Company has determined that there is only one reportable operating segment.

Concentrations

For the year ended June 30, 2025, 36 %, 14 % and 14 %, respectively, of our revenue was generated from the Company’s three largest

For the year ended June 30, 2023, 50 % and 13 %, respectively, of our revenue was generated from the Company’s two largest

For the year ended June 30, 2024, 34 %, 22 % and 13 %, respectively, of our revenue was generated from the Company’s three

largest customers.

There was no other customer that accounted for more than 10 % of the Company’s revenues for the years ended June

30, 2025 and 2024.

At June 30, 2024, 49 %, 17 % and 13 % of the Company’s accounts receivable was from the Company’s three largest

receivable accounts.

At June 30, 2023, 87 % and 13 %, respectively, of the Company’s accounts receivable was due from two customers.

At June 30, 2025, 64 % and 33 % of the Company’s accounts receivable was from the Company’s two largest receivable

At June 30, 2024, 49 %, 17 % and 13 %, respectively, of the Company’s accounts receivable was due from three customers.

There was no other customer that accounted for more than 10 % of the Company’s accounts receivable at June 30, 2025 and 2024.

from vendors.

For the year ended June 30, 2024, 23 %, 22 %, 19 %, and 10 %, of our purchases was from four vendors.

For the year ended June 30, 2025, 58 %,

30, 2023, 41 % and 21 %, of our purchases was from two vendors.

There was no other vendor that accounted for more than 10 % of the Company’s

purchases for the years ended June 30, 2024 and 2023.

At June 30, 2024, the two largest accounts payable accounts to the Company’s vendors represented 68 % and 15 %.

30, 2023, there was no account payable.

of our purchases was from three vendors.

For the year ended June 30, 2024, 23 %,

of our purchases was from four vendors.

There was no other vendor that accounted for more than 5 %

of the Company’s purchases for the years ended June 30, 2025 and 2024.

At June 30, 2025, the two largest accounts payable accounts to the Company’s vendors represented 51 %,

14 % and 12 %.

At June 30, 2024, the two largest accounts payable accounts to the Company’s vendors represented 68 %

currency translation

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Revenues and expenses are translated at average rates prevailing during the

The gains and losses resulting from translation of financial statements of a foreign subsidiary are recorded as a separate component

of accumulated other comprehensive loss within equity.

The gains and losses resulting from translation of consolidated financial statements of a foreign subsidiary are recorded as

a separate component of accumulated other comprehensive loss within equity.

of amounts from the local currencies of the Company into US$ has been made at the following exchange rates for the respective periods:

OF FOREIGN EXCHANGE RATES

As of and for the year ended June 30,

of and for the year ended June 30,

Year-end USD:

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Accounting Pronouncements

Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not

believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial

position or results of operations.

In December 2023, the FASB issued ASU No.

“ Income Taxes (Topic 740):

Improvements to Income Tax Disclosures ” .

This ASU requires additional quantitative and qualitative income tax disclosures to enable financial statements users better assess how

an entity ’ s operations and related tax risks and tax planning and operational opportunities

affect its tax rate and prospects for future cash flows.

This ASU is effective for fiscal years beginning after December 15,

Early adoption is permitted.

The Company adopted this guidance effective July 1, 2025 and the Company is currently evaluating

the impact of adopting this ASU on its consolidated financial statements.

The Company does not believe other recently issued

but not yet effective accounting standards, if currently adopted, would have a material effect on the Company ’ s

balance sheets, statements of income and statements of cash flows.

2 – PREPAID EXPENSES AND OTHER CURRENT ASSETS

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OF PREPAYMENTS AND OTHER CURRENT ASSETS

June 30, 2025

Prepaid expenses

Deposit on factory building purchase

Deposit on factory equipment purchase

Other deposits

Other receivables

Prepaid expenses

Prepayments and other current assets

Allowance for Other receivables

Net value of prepaid

expenses and other current assets

3 – INVENTORIES

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OF PET (POLYETHYLENE TEREPHTHALATE) MATERIALS

June 30, 2025

June 30, 2024

PET strap belt

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In Transit Materials

Provision for the inventory

Net value of Inventories

4 – PROPERTY, PLANT AND EQUIPMENT, NET

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OF PROPERTY AND EQUIPMENT

June 30, 2025

June 30, 2024

Factory building

Factory equipment

Computer and Software

Office equipment

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Accumulated depreciation

Net book value

( 1,276,097 )

Carrying amount

January 2024, the Company acquired a factory building (“Factory No.

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leased, for MYR 8,075,275.40 (approximately US$ 1,696,467 ), and funded by a bank loan payable (see Note 7).

and amortization expense was $ 319,369 and $ 260,173 for the fiscal years ended June 30, 2024 and 2023, respectively.

Depreciation expense was $ 404,759 and $ 319,369 for the fiscal years ended June 30, 2025 and 2024, respectively.

5 – ACCOUNTS PAYABLE, ACCRUED LIABILITIES AND OTHER PAYABLE

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of other payables included the office expenses payable and balance of property, plant and equipment, net from third party.

6 – CONVERTIBLE NOTE PAYABLE

note payable consists of the following as of June 30, 2024 and 2023:

6 – LOAN FROM THIRD PARTY

Loan from third party consists of the following as of June 30, 2025 and 2024:

OF CONVERTIBLE NOTE

Convertible note

Loan from third party

January 9, 2023, the Company issued a convertible note payable to a third party for $ 750,000 .

The note is unsecured, has an interest

rate 3 % per annum, matures November 14, 2024 , and is convertible into 937,500 shares of the Company’s common stock at $ 0.80 per

share, any time after the completion of a reverse acquisition with Sino Green Land Corp.

(see Note 11).

The note is unsecured, has an interest rate 3 %

per annum, and is convertible into 937,500

shares of the Company’s common stock at $ 0.80

per share, any time after the completion of a reverse acquisition

with Sino Green Land Corp.

On May 16, 2025, the note holder decided not to exercise

their conversion right into the Company’s equity, the instrument is no longer classified as a convertible note but is accounted for as

a standard term loan.

7 – BANK LOAN PAYABLE

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and loan drawdown was completed in March 2023.

The loan bears interest at the base lending rate, as defined, minus 2.2% (4.06% at March

The loan bears interest at the base lending rate, as defined, minus 2.2% (4.06% at June

30, 2025), is secured by the No.

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OF MINIMUM PRINCIPAL PAYMENTS

Current balance

Non-current balance

8 – RELATED PARTY TRANSACTIONS

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OF AMOUNT DUE FROM (DUE TO) RELATED PARTIES

Due from Invent Fortune Sdn.

June 30, 2025

June 30, 2024

Payable to Invent Fortune Sdn.

$ ( 715,444 )

Payable to Luo Xiong and Wo Kuk Ching (1)

( 1,209,120 )

Payable to Empower International Trading

( 1,413,058 )

Payable to TLC Global International Trading (3)

Total due to related parties, net

Payable to TLC Global

International Trading (3)

Total due to related

$ ( 3,262,864 )

$ ( 2,093,010 )

amounts due from and payable to related parties are unsecured, non-interest bearing, and payable on demand.

The Company has the right

to offset amounts with related parties controlled by the same common control group.

amounts payable to related parties are unsecured, non-interest bearing, and payable on demand.

The Company has the right to offset amounts

with related parties controlled by the same common control group.

Xiong and spouse Wo Kuk Ching and their immediate family members own 90 % of the Company’s common stock.

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OF RECONCILIATION OF INCOME TAX EXPENSE

Year ended June 30,

Loss from continuing operations before income tax:

ended June 30,

Loss from continuing operations

before income tax:

$ ( 1,808,994 )

$ ( 798,804 )

Federal statutory tax rate

Federal statutory

Income tax benefit at statutory rate

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Change in valuation allowance

Income tax provision

Income tax expenses

OF DEFERRED TAX ASSETS

Components of deferred tax assets:

Net operating loss carry forwards

Gross deferred tax assets

of deferred tax assets:

operating loss carry forwards

deferred tax assets

valuation allowance

Net deferred tax asset

deferred tax asset

provisions of ASC Topic 740, Accounting for Income Taxes, require an assessment of both positive and negative evidence when determining

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a tax position will be sustained upon examination by the appropriate taxing authorities before any tax benefit can be recorded in the

financial statements.

ASC 740 also provides guidance on the recognition, measurement, classification and interest and penalties related

to uncertain tax positions.

As of June 30, 2024 and 2023, no liability for unrecognized tax benefits was required to be recorded or disclosed.

consolidated financial statements.

ASC 740 also provides guidance on the recognition, measurement, classification and interest and penalties

related to uncertain tax positions.

As of June 30, 2025 and 2024, no liability for unrecognized tax benefits was required to be recorded

or disclosed.

Company’s primary operations are located in Malaysia, which is taxed at 24 %.

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The aggregate monthly lease

payments are $ 1,800 with an aggregate commitment of approximately $ 95,000 .

The Company recognized financing lease right-of-use assets

and related finance lease liabilities of approximately $ 95,000 upon commencement of the leases.

As of June 30, 2023, the Company

has one operating lease agreements for space (No.

5 factory building) in Malaysia.

In February 2024, the Company completed the acquisition

5 factory building and space from the lessor (See Note 4).

payments are $ 1,800 with

an aggregate commitment of approximately $ 95,000 .

The Company recognized financing lease right-of-use assets and related finance lease liabilities of approximately $ 95,000

upon commencement of the leases.

The amortization expense for the fiscal years ended June 30, 2025 and 2024

was $ 25,612 and $ 20,982 , respectively.

The interest expense for the fiscal years ended June 30, 2025 and 2024 was $ 3,379 and $ 3,831 ,

respectively.

OF OPERATING AND FINANCE LEASE AGREEMENT

June 30, 2024

June 30, 2023

Operating lease Right-of-use assets

Finance leases Right-of-use assets

Finance leases

Right-of-use assets

Total Right-of-use assets

Operating Lease liabilities – current

Operating Lease liabilities – non-current

Finance Lease liabilities – current

Finance Lease liabilities – non-current

Finance Lease liabilities

– non-current

Total Lease liabilities

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OF SUPPLEMENTAL CASH FLOW AND OTHER INFORMATION RELATED TO LEASES

Other information for the year ended

June 30, 2024

June 30, 2023

Cash paid for amounts included in the measurement of lease liabilities

Other information for the year

Cash paid for amounts included in the measurement

of lease liabilities

Cash payments for operating lease

Cash payments for finance lease

Cash payments for finance

Weighted average remaining lease term (in years)

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OF FUTURE MINIMUM PAYMENTS

Operating lease

Finance lease

Total lease payment

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Total lease liabilities

11 — CONTRACT LIABILITIES

A contract liability is an entity ’ s

obligation to transfer goods or services to a customer for which the entity has received consideration or an amount of consideration is

due from the customer.

For the years ended June 30, 2025 and 2024, certain customers made advances to the Company before equipment delivered

or services provided.

The advance payments were transferred into revenues upon revenue recognition.

For the years ended June 30, 2025 and 2024, the movement

of contract liabilities was as follows:

SCHEDULE OF CONTRACT LIABILITIES

June 30, 2025

June 30, 2024

Opening balance

Addition of contract liabilities

Revenue recognition during the year

Foreign exchange adjustment

Ending balance

COMMITMENTS AND CONTINGENCIES

From time to time, the Company and its subsidiaries

are parties to various legal actions arising in the ordinary course of business.

The Company accrues costs associated with these matters

when they become probable and the amount can be reasonably estimated.

Legal costs incurred in connection with loss contingencies are expensed

The Company also disclosed operating lease commitments and financing lease commitments in Note 10.

Capital expenditure commitments

As of June 30, 2025, the Company had commitments for

capital expenditures of CNY 231,000 (approximately $ 31,647 ) for purchase of wastewater treatment equipment.

A deposit of CNY 50,000 (approximately

US$ 6,989 ) was paid in May 2025.

The Company expected to make the payments in the twelve months ending June 30, 2026.

Other than the capital expenditure commitment, the

Company did not have other significant commitments, long-term obligations, significant contingencies or guarantees as of June 30, 2025

13 – SUBSEQUENT EVENT

October 1, 2023, Sino Green Land Corp.

(“SGLA”) entered into a definitive share exchange agreement with Sunshine Green whereby

SGLA agreed to acquire all of the outstanding shares of Sunshine Green.

Upon completion of the acquisition, all of the outstanding shares

in the capital stock of the Sunshine Green were cancelled.

The Company has evaluated all events or transactions

that occurred up to October 14, 2025, the date the consolidated financial statements were available to issue.

Based upon this review,

the Company did not identify any subsequent events that would have required adjustment or disclosure in the condensed financial statements..

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures