Cover
Cover - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Dec. 28, 2023 | |
Cover [Abstract] | ||
Document Type | 10-K | |
Amendment Flag | false | |
Document Annual Report | true | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 2023 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --09-30 | |
Entity File Number | 333-271858 | |
Entity Registrant Name | DFP HOLDINGS LIMITED | |
Entity Central Index Key | 0001976900 | |
Entity Tax Identification Number | 00-0000000 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 2F-1, No. 178-5, Section 2 | |
Entity Address, Address Line Two | Chang’an East Road | |
Entity Address, Address Line Three | Zhongshan District | |
Entity Address, City or Town | Taipei City | |
Entity Address, Country | TW | |
City Area Code | (886) | |
Local Phone Number | 2 8772 2001 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Public Float | $ 0 | |
Entity Common Stock, Shares Outstanding | 215,212,900 | |
Document Financial Statement Error Correction [Flag] | false | |
Auditor Firm ID | 572 | |
Auditor Name | Weinberg & Company, P.A. | |
Auditor Location | Los Angeles, California |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 763,591 | $ 1,461,506 |
Accounts receivable | 18,554 | |
Other current assets-deposits | 15,095 | |
Total current assets | 804,043 | 1,490,281 |
Non-current assets: | ||
Property and equipment, net | 12,767 | |
TOTAL ASSETS | 816,810 | 1,490,281 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 73,325 | 34,522 |
Deferred revenue | 28,698 | 9,324 |
Total liabilities | 106,280 | 57,473 |
Stockholders’ equity: | ||
Preferred Stock, $0.0001 par value; 200,000,000 shares authorized; no shares issued and outstanding | ||
Common Stock, $0.0001 par value; 600,000,000 shares authorized; 213,855,500 shares issued and outstanding | 21,386 | 21,386 |
Additional paid in capital | 2,148,714 | 2,148,714 |
Accumulated other comprehensive loss | (12,561) | (4,615) |
Accumulated deficit | (1,447,009) | (732,677) |
Total stockholders’ equity | 710,530 | 1,432,808 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 816,810 | 1,490,281 |
Related Party [Member] | ||
Current assets: | ||
Prepaid expenses-related party | 25,357 | 10,221 |
Current liabilities: | ||
Due to officer | $ 4,257 | $ 13,627 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2023 | Sep. 30, 2022 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 200,000,000 | 200,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 600,000,000 | 600,000,000 |
Commom stock, shares issued | 213,855,500 | 213,855,500 |
Commom stock, shares outstanding | 213,855,500 | 213,855,500 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) | 10 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Sep. 30, 2023 | |
REVENUES: | ||
Service revenue | $ 111,201 | $ 1,216,130 |
OPERATING COSTS AND EXPENSES: | ||
Cost of service revenue | 41,540 | 188,658 |
Impairment of prepaid application development fee-related party | 450,000 | 450,000 |
Total operating costs and expenses | 844,242 | 1,910,632 |
LOSS FROM OPERATIONS | (733,041) | (694,502) |
OTHER INCOME: | ||
Interest income | 364 | 8,160 |
LOSS BEFORE INCOME TAXES | (732,677) | (686,342) |
Income taxes | (27,990) | |
NET LOSS | (732,677) | (714,332) |
Other comprehensive loss | ||
- Foreign currency translation loss | (4,615) | (7,946) |
COMPREHENSIVE LOSS | $ (737,292) | $ (722,278) |
NET LOSS PER SHARE - basic | $ 0 | $ 0 |
NET LOSS PER SHARE - diluted | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF COMMON STOCK OUTSTANDING - basic | 155,424,448 | 213,855,500 |
WEIGHTED AVERAGE NUMBER OF COMMON STOCK OUTSTANDING - diluted | 155,424,448 | 213,855,500 |
Nonrelated Party [Member] | ||
OPERATING COSTS AND EXPENSES: | ||
General and administrative expense | $ 37,366 | $ 909,960 |
Related Party [Member] | ||
OPERATING COSTS AND EXPENSES: | ||
General and administrative expense | $ 315,336 | $ 362,014 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 07, 2021 | |||||
Balance, shares at Dec. 07, 2021 | |||||
Shares issued for founders | 20,000 | $ 20,000 | |||
Shares issued for founders, shares | 200,000,000 | ||||
Shares issued for cash in private placements | 1,386 | 2,148,714 | $ 2,150,100 | ||
Shares issued for cash in private placements, shares | 13,855,500 | ||||
Foreign currency translation | (4,615) | $ (4,615) | |||
Net loss | (732,677) | (732,677) | |||
Balance at Sep. 30, 2022 | $ 21,386 | 2,148,714 | (4,615) | (732,677) | $ 1,432,808 |
Balance, shares at Sep. 30, 2022 | 213,855,500 | ||||
Shares issued for cash in private placements, shares | 0 | ||||
Foreign currency translation | (7,946) | $ (7,946) | |||
Net loss | (714,332) | (714,332) | |||
Balance at Sep. 30, 2023 | $ 21,386 | $ 2,148,714 | $ (12,561) | $ (1,447,009) | $ 710,530 |
Balance, shares at Sep. 30, 2023 | 213,855,500 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 10 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Sep. 30, 2023 | |
Cash flows from operating activities: | ||
Net loss | $ (732,677) | $ (714,332) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 2,731 | |
Impairment of prepaid application development fee-related party | 450,000 | 450,000 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (18,554) | 18,554 |
Other current assets-deposits | (15,095) | |
Prepaid expenses-related party | (10,221) | (15,136) |
Accounts payable and accrued liabilities | 34,522 | 38,803 |
Deferred revenue | 9,324 | 19,374 |
Net cash used in operating activities | (267,606) | (215,101) |
Cash flows from investing activities: | ||
Prepaid application development fee-related party | (450,000) | (450,000) |
Purchase of property and equipment | (15,399) | |
Net cash used in investing activities | (450,000) | (465,399) |
Cash flows from financing activities: | ||
Proceeds from sales of common stock | 2,170,100 | |
(Repayment to) advances from officer | 13,627 | (9,370) |
Net cash (used in) provided by financing activities | 2,183,727 | (9,370) |
Effect of exchange rate changes in cash and cash equivalents | (4,615) | (8,045) |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 1,461,506 | (697,915) |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR / PERIOD | 1,461,506 | |
CASH AND CASH EQUIVALENTS, END OF YEAR / PERIOD | 1,461,506 | 763,591 |
Supplemental information | ||
Income taxes paid | $ 27,990 |
BASIS OF PRESENTATION AND SUMMA
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of business DFP Holdings Limited, a Nevada corporation (the “Company”), was incorporated in the State of Nevada on December 8, 2021 . The Company provides online and offline educational services in Taiwan. The Company has a September 30 fiscal year end. On March 8, 2022, the Company’s wholly owned subsidiary, DFP Holdings Limited, was formed in Seychelles (the “Seychelles Company”). The Seychelles Company is an intermediate holding company, and operates business through its wholly owned subsidiary, DFP Holdings Limited, a company incorporated in Taiwan (the “Taiwan Company”). On May 24, 2022, the Company acquired 100% Going concern The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements for the year ended September 30, 2023, the Company incurred a net loss of $ 714,332 215,101 Management estimates that the current funds on hand will be sufficient to continue operations through the next six months. The Company’s ability to continue as a going concern is dependent upon its ability to continue to implement its business plan to increase its customer base and realize increased revenues. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing. Risks & uncertainties resulting from inflation, COVID-19, and geopolitical instability As a result of the COVID-19 pandemic and actions taken to slow its spread, the ongoing military conflict between Russia and Ukraine, and other geopolitical and macroeconomic factors beyond our control, the global credit and financial markets have experienced extreme volatility, including diminished liquidity and credit availability, declines in consumer confidence, declines in economic growth, increases in unemployment rates and uncertainty about economic stability. If equity and credit markets deteriorate, it may affect our ability to raise equity capital, borrow on our existing facilities, access our existing cash, or make any additional necessary debt or equity financing more difficult to obtain, more costly and/or more dilutive. Basis of presentation The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Tide Holdings Limited (TIDE), DFP Holdings Limited (Seychelles) (the “Seychelles Company”), and DFP Holdings Limited (Taiwan) (the “Taiwan Company”). Intercompany accounts and transactions have been eliminated in consolidation. Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting year. Actual results could differ from those estimates. Significant estimates include estimates for assumptions used in impairment testing of long-term assets, and the accrual of potential liabilities. Revenue recognition The Company recognizes revenue in accordance with Financial Accounting Standard Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers, The Company’s revenue consists of revenue from providing online and offline educational services (“service revenue”). Revenue is recognized in the period in which the services are delivered, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. The Company offers no discounts, rebates, rights of return, or other allowances to clients which would result in the establishment of reserves against service revenue. Additionally, to date, the Company has not incurred incremental costs in obtaining a client contract. The Company recognizes revenue from subscription services ratably over the subscription period. The Company recognizes deferred revenue at each period end for contracts that have been paid but which the related service has not been performed or delivered. Cost of revenue Cost of service revenue primarily consists of advertising and promotion fee, and facility rentals directly attributable to the services rendered. Cash and cash equivalents Cash equivalents includes demand deposits placed with banks or other financial institutions and all highly liquid investments with original maturities at purchase of three months or less, including money market funds. SCHEDULE OF CASH AND CASH EQUIVALENTS 2023 2022 As of 2023 2022 Cash and cash equivalents Denominated in United States Dollars $ 480,406 $ 1,378,501 Denominated in New Taiwan Dollars 283,185 83,005 Cash and cash equivalents $ 763,591 $ 1,461,506 Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash. As of September 30, 2023, substantially all the Company’s cash was held by two major financial institutions located in Taiwan, which management believes is of high credit quality. At September 30, 2023, none Accounts receivable Accounts receivable is recorded at the invoiced amounts net of an allowance for expected losses. The Company evaluates the collectability of our accounts receivable based on several factors. In circumstances where it becomes aware of a specific customer’s inability to meet its financial obligations to us, a specific reserve for bad debts is estimated and recorded which reduces the recognized receivable to the estimated amount that management believes will ultimately be collected. In addition to specific customer identification of potential bad debts, bad debt charges are recorded based on our historical losses and an overall assessment of past due accounts receivable outstanding. At September 30, 2023 and 2022, the Company had no Property and equipment Property and equipment are recorded at cost less accumulated depreciation. Additions, improvements, and major renewals or replacements that substantially extend the useful life of an asset are capitalized. Repairs and maintenance expenditures are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets of four years. Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or the remaining lease term. Management assesses the carrying value of property and equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value at that time. At September 30, 2023 and 2022, management determined there were no Software costs Costs related to developing or obtaining internal-use software incurred during the preliminary project and post-implementation stages of an internal use software project will be expensed as incurred and certain costs incurred in the project’s application development stage will be capitalized. On an annual basis, or more frequently as conditions indicate, the Company will assess the recovery of the unamortized software development costs by estimating the net undiscounted cash flows the asset is expected to generate. If the undiscounted cash flows are not sufficient to recover the unamortized software cost, such assets will be considered to be impaired. The impairment to be recognized will be measured as the amount by which the carrying amount of the asset exceeds its fair value. During the year ended September 30, 2023, the Company recognized an impairment of prepaid application development fees of $ 450,000 450,000 Impairment of long-lived assets The Company evaluates its long-lived assets for indicators of possible impairment by comparison of the carrying amount to future net undiscounted cash flows expected to be generated by such asset when events or changes in circumstances indicate the carrying amount of an asset or asset group may not be recoverable. Should an impairment exist, the impairment loss would be measured based on the excess carrying value of the asset over the asset’s fair value generally determined by estimates of future discounted cash flows. Leases The Company currently lease an office space under a short-term lease from an external party. A short-term lease is defined as a lease that, at the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise. For all short-term leases, the Company does not recognize a lease liability or right-of-use asset on the balance sheet. Instead, the Company recognizes short-term lease payments as an expense on a straight-line basis over the lease term. For the year ended September 30, 2023, total rent expense was $ 24,492 Income taxes The Company accounts for income taxes using an asset and liability approach which allows for the recognition and measurement of deferred tax assets based upon the likelihood of realization of tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain. The Company conducts its business in Taiwan and is subject to tax in Taiwan jurisdictions. As a result of its business activities, the Company will file tax returns that are subject to examination by the Taiwan tax authority. The Company’s deferred tax assets relate to the Company’s net operating losses in the U.S. and net operating losses and temporary differences between accounting basis and tax basis for its Taiwan-based subsidiaries which are subject to corporate income tax in Taiwan. Fair value measurements The Company follows the guidance of ASC 820-10, “Fair Value Measurements and Disclosures”, with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: Level 1: Level 2: Level 3: The Company believes the carrying amount reported in the balance sheet for cash and cash equivalents, accounts receivable, prepaid expenses, accounts payable and accrued liabilities, deferred revenue and due to officer, approximate their fair values because of the short-term nature of these financial instruments. Foreign currency translation The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying consolidated financial statements have been expressed in US$. In addition, the Company’s operating subsidiary maintains its books and records in its functional currency, New Taiwan Dollars (“NT$”). In general, for consolidation purposes, assets and liabilities of the Company’s subsidiaries whose functional currency is not the US$, are translated into US$ using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of a foreign subsidiary are recorded as a separate component of accumulated other comprehensive income or loss within stockholders’ equity. Translation of amounts from the local currencies of the Company into US$ has been made at the following exchange rates for the respective periods: SCHEDULE OF TRANSLATION OF AMOUNTS BETWEEN USD AND TWD As of and for the year ended As of Period-end NT$ : US$1 exchange rate 32.28 31.79 Period-average NT$ : US$1 exchange rate 31.11 29.23 Net income (loss) per share The Company calculates net income (loss) per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic income (loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. At September 30, 2023 and 2022, the Company has no Segment information Operating segments are components of an enterprise for which separate financial information is available and are evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker is its Chief Executive Officer. The Company’s Chief Executive Officer views the Company’s operations and manages its business in one operating segment, which is conducting business as an educational service company. Concentrations For the year ended September 30, 2023 and for the period from December 8, 2021 (Inception) to September 30, 2022, no customer accounted for 10 For the year ended September 30, 2023 and for the period from December 8, 2021(Inception) to September 30, 2022, one service provider, a related party, accounted for 42% 91% Recent accounting pronouncements In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40). This ASU reduces the number of accounting models for convertible debt instruments and convertible preferred stock and amends the guidance for the derivatives scope exception for contracts in an entity’s own equity to reduce form-over-substance-based accounting conclusions. In addition, this ASU improves and amends the related earnings per share guidance. This standard becomes effective for the Company beginning on October 1, 2024. Adoption is either a modified retrospective method or a fully retrospective method of transition. The Company adopted this guidance effective October 1, 2023, and the adoption of this standard did not have a material impact on its consolidated financial statements. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future financial statements. |
STOCKHOLDERS_ EQUITY
STOCKHOLDERS’ EQUITY | 12 Months Ended |
Sep. 30, 2023 | |
Equity [Abstract] | |
STOCKHOLDERS’ EQUITY | NOTE 2 - STOCKHOLDERS’ EQUITY During the year ended September 30, 2023, the Company did no For the period from December 8, 2021 (Inception) to September 30, 2022, the Company issued 213,855,500 0.0001 0.25 2,170,100 Shares issued to founders On February 25, 2022, the Company issued 86,260,000 10,000,000 0.0001 9,626 Between February 22, 2022, and February 25, 2022, the Company issued 103,740,000 0.0001 10,374 Shares issued for cash in private placements Between March 1, 2022, and September 26, 2022, the Company sold 13,855,500 0.10 0.25 2,150,100 The Company sold 7,200,000 0.10 720,000 4,675,500 0.20 935,100 1,980,000 0.25 495,000 |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 3 - INCOME TAXES The Company recorded and paid income tax expense of $ 27,990 no Provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES Year ended For the Current: U.S. $ - $ - Taiwan 27,990 - Subtotal 27,990 Current: 27,990 Deferred: - - Provision for Income tax $ 27,990 $ - A reconciliation of the income tax expense determined at the statutory income tax rate to the Company’s income taxes is as follows: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE BENEFIT Year ended For the period from Loss before income taxes $ (686,342 ) $ (732,677 ) United States of America statutory income tax rate 21 % 21 % Income tax (benefit) expense computed at statutory corporate income tax rate (144,132 ) (153,862 ) Effect of different tax jurisdictions 6,864 7,327 Change in valuation allowance 165,258 146,535 Provision for income taxes $ 27,990 $ - The Company’s wholly owned subsidiary in Taiwan, DFP Holdings Limited (Taiwan) (the “Taiwan Company”), is governed by the income tax law of Taiwan and is subject to a tax rate of 20% Significant components of the aggregate deferred tax assets consisted of the following: SCHEDULE OF OMPONENTS OF AGGREGATE DEFERRED TAX ASSETS 2023 2022 As of 2023 2022 Deferred tax assets: Net operating loss carry forwards $ 297,994 $ 153,862 Gross deferred tax assets 297,994 153,862 Less: valuation allowance (297,994 ) (153,862 ) Net deferred tax assets $ - $ - The provisions of ASC Topic 740, “Accounting for Income Taxes”, require an assessment of both positive and negative evidence when determining whether it is more likely than not that deferred tax assets are recoverable. As of September 30, 2023 and 2022, based on all available objective evidence, including the existence of cumulative losses, the Company determined that it was more likely than not that the net deferred tax assets were not fully realizable. Accordingly, the Company established a full valuation allowance against its net deferred tax assets. The Company intends to maintain a full valuation allowance on net deferred tax assets until sufficient positive evidence exists to support reversal of the valuation allowance. The Company adopted the provisions of ASC 740, which requires companies to determine whether it is “more likely than not” that 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 September 30, 2023 and 2022, no |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Sep. 30, 2023 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 4 - RELATED PARTY TRANSACTIONS On December 8, 2021, Mr. Hsu Shou Hung (“Mr. Hsu”), a founder of the Company, was appointed as Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer, and sole director of the Company. Currently, Mr. Hsu is our sole officer and director. As of September 30, 2023, Mr. Hsu collectively owns 96,260,000 45.01% At September 30, 2023 and 2022, $ 4,257 13,627 Mr. Lin Yi Hsiu (“Jeff Lin”) is Chief Executive Officer and a director of Leader Capital Holdings Corp. (“LCHC”). LCHC owns 15,000,000 shares of the Company’s restricted Common Stock and is a 7.01% shareholder in the Company. In addition, CPN Investment Limited (“CPN”), a company wholly owned by Jeff Lin, owns 15,000,000 shares of the Company’s restricted Common Stock, and is also a 7.01% shareholder of the Company. LCHC, through its wholly owned subsidiary, LOC Weibo Co., Limited (“LOC”) provides IT and maintenance services to the Company. Leader Financial Asset Management Limited (“LFAML”), another company wholly owned by Jeff Lin, provides consulting and company secretarial services to the Company. For the year ended September 30, 2023, and during the period from December 8, 2021 (Inception) to September 30, 2022, the Company incurred the following fees to LCHC and affiliates: SCHEDULE OF RELATED PARTIED INCURRED FEES TO LCHC AND AFFILIATES Paid to: Description Year ended September 30, 2023 For the period from LCHC IT services $ 30,000 $ 5,336 LOC IT services 32,014 - LFAML Secretarial fees - 10,000 LFAML Consulting fees 300,000 300,000 Subtotal 362,014 315,336 LCHC Prepaid application development fees 450,000 450,000 Total $ 812,014 $ 765,336 At September 30, 2023 and 2022, $ 25,357 10,221 During fiscal 2022 and 2023, the Company prepaid a total of $900,000 to LCHC for the development of two mobile applications. $ 450,000 450,000 450,000 450,000 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Sep. 30, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 5 - SUBSEQUENT EVENTS Between November 1, 2023, and December 13, 2023, the Company sold 1,357,400 0.50 678,700 |
BASIS OF PRESENTATION AND SUM_2
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Going concern | Going concern The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements for the year ended September 30, 2023, the Company incurred a net loss of $ 714,332 215,101 Management estimates that the current funds on hand will be sufficient to continue operations through the next six months. The Company’s ability to continue as a going concern is dependent upon its ability to continue to implement its business plan to increase its customer base and realize increased revenues. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing. |
Risks & uncertainties resulting from inflation, COVID-19, and geopolitical instability | Risks & uncertainties resulting from inflation, COVID-19, and geopolitical instability As a result of the COVID-19 pandemic and actions taken to slow its spread, the ongoing military conflict between Russia and Ukraine, and other geopolitical and macroeconomic factors beyond our control, the global credit and financial markets have experienced extreme volatility, including diminished liquidity and credit availability, declines in consumer confidence, declines in economic growth, increases in unemployment rates and uncertainty about economic stability. If equity and credit markets deteriorate, it may affect our ability to raise equity capital, borrow on our existing facilities, access our existing cash, or make any additional necessary debt or equity financing more difficult to obtain, more costly and/or more dilutive. |
Basis of presentation | Basis of presentation The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Tide Holdings Limited (TIDE), DFP Holdings Limited (Seychelles) (the “Seychelles Company”), and DFP Holdings Limited (Taiwan) (the “Taiwan Company”). Intercompany accounts and transactions have been eliminated in consolidation. |
Use of estimates | Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting year. Actual results could differ from those estimates. Significant estimates include estimates for assumptions used in impairment testing of long-term assets, and the accrual of potential liabilities. |
Revenue recognition | Revenue recognition The Company recognizes revenue in accordance with Financial Accounting Standard Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers, The Company’s revenue consists of revenue from providing online and offline educational services (“service revenue”). Revenue is recognized in the period in which the services are delivered, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. The Company offers no discounts, rebates, rights of return, or other allowances to clients which would result in the establishment of reserves against service revenue. Additionally, to date, the Company has not incurred incremental costs in obtaining a client contract. The Company recognizes revenue from subscription services ratably over the subscription period. The Company recognizes deferred revenue at each period end for contracts that have been paid but which the related service has not been performed or delivered. |
Cost of revenue | Cost of revenue Cost of service revenue primarily consists of advertising and promotion fee, and facility rentals directly attributable to the services rendered. |
Cash and cash equivalents | Cash and cash equivalents Cash equivalents includes demand deposits placed with banks or other financial institutions and all highly liquid investments with original maturities at purchase of three months or less, including money market funds. SCHEDULE OF CASH AND CASH EQUIVALENTS 2023 2022 As of 2023 2022 Cash and cash equivalents Denominated in United States Dollars $ 480,406 $ 1,378,501 Denominated in New Taiwan Dollars 283,185 83,005 Cash and cash equivalents $ 763,591 $ 1,461,506 Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash. As of September 30, 2023, substantially all the Company’s cash was held by two major financial institutions located in Taiwan, which management believes is of high credit quality. At September 30, 2023, none |
Accounts receivable | Accounts receivable Accounts receivable is recorded at the invoiced amounts net of an allowance for expected losses. The Company evaluates the collectability of our accounts receivable based on several factors. In circumstances where it becomes aware of a specific customer’s inability to meet its financial obligations to us, a specific reserve for bad debts is estimated and recorded which reduces the recognized receivable to the estimated amount that management believes will ultimately be collected. In addition to specific customer identification of potential bad debts, bad debt charges are recorded based on our historical losses and an overall assessment of past due accounts receivable outstanding. At September 30, 2023 and 2022, the Company had no |
Property and equipment | Property and equipment Property and equipment are recorded at cost less accumulated depreciation. Additions, improvements, and major renewals or replacements that substantially extend the useful life of an asset are capitalized. Repairs and maintenance expenditures are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets of four years. Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or the remaining lease term. Management assesses the carrying value of property and equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value at that time. At September 30, 2023 and 2022, management determined there were no |
Software costs | Software costs Costs related to developing or obtaining internal-use software incurred during the preliminary project and post-implementation stages of an internal use software project will be expensed as incurred and certain costs incurred in the project’s application development stage will be capitalized. On an annual basis, or more frequently as conditions indicate, the Company will assess the recovery of the unamortized software development costs by estimating the net undiscounted cash flows the asset is expected to generate. If the undiscounted cash flows are not sufficient to recover the unamortized software cost, such assets will be considered to be impaired. The impairment to be recognized will be measured as the amount by which the carrying amount of the asset exceeds its fair value. During the year ended September 30, 2023, the Company recognized an impairment of prepaid application development fees of $ 450,000 450,000 |
Impairment of long-lived assets | Impairment of long-lived assets The Company evaluates its long-lived assets for indicators of possible impairment by comparison of the carrying amount to future net undiscounted cash flows expected to be generated by such asset when events or changes in circumstances indicate the carrying amount of an asset or asset group may not be recoverable. Should an impairment exist, the impairment loss would be measured based on the excess carrying value of the asset over the asset’s fair value generally determined by estimates of future discounted cash flows. |
Leases | Leases The Company currently lease an office space under a short-term lease from an external party. A short-term lease is defined as a lease that, at the commencement date, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise. For all short-term leases, the Company does not recognize a lease liability or right-of-use asset on the balance sheet. Instead, the Company recognizes short-term lease payments as an expense on a straight-line basis over the lease term. For the year ended September 30, 2023, total rent expense was $ 24,492 |
Income taxes | Income taxes The Company accounts for income taxes using an asset and liability approach which allows for the recognition and measurement of deferred tax assets based upon the likelihood of realization of tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain. The Company conducts its business in Taiwan and is subject to tax in Taiwan jurisdictions. As a result of its business activities, the Company will file tax returns that are subject to examination by the Taiwan tax authority. The Company’s deferred tax assets relate to the Company’s net operating losses in the U.S. and net operating losses and temporary differences between accounting basis and tax basis for its Taiwan-based subsidiaries which are subject to corporate income tax in Taiwan. |
Fair value measurements | Fair value measurements The Company follows the guidance of ASC 820-10, “Fair Value Measurements and Disclosures”, with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: Level 1: Level 2: Level 3: The Company believes the carrying amount reported in the balance sheet for cash and cash equivalents, accounts receivable, prepaid expenses, accounts payable and accrued liabilities, deferred revenue and due to officer, approximate their fair values because of the short-term nature of these financial instruments. |
Foreign currency translation | Foreign currency translation The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying consolidated financial statements have been expressed in US$. In addition, the Company’s operating subsidiary maintains its books and records in its functional currency, New Taiwan Dollars (“NT$”). In general, for consolidation purposes, assets and liabilities of the Company’s subsidiaries whose functional currency is not the US$, are translated into US$ using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of a foreign subsidiary are recorded as a separate component of accumulated other comprehensive income or loss within stockholders’ equity. Translation of amounts from the local currencies of the Company into US$ has been made at the following exchange rates for the respective periods: SCHEDULE OF TRANSLATION OF AMOUNTS BETWEEN USD AND TWD As of and for the year ended As of Period-end NT$ : US$1 exchange rate 32.28 31.79 Period-average NT$ : US$1 exchange rate 31.11 29.23 |
Net income (loss) per share | Net income (loss) per share The Company calculates net income (loss) per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic income (loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. At September 30, 2023 and 2022, the Company has no |
Segment information | Segment information Operating segments are components of an enterprise for which separate financial information is available and are evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker is its Chief Executive Officer. The Company’s Chief Executive Officer views the Company’s operations and manages its business in one operating segment, which is conducting business as an educational service company. |
Concentrations | Concentrations For the year ended September 30, 2023 and for the period from December 8, 2021 (Inception) to September 30, 2022, no customer accounted for 10 For the year ended September 30, 2023 and for the period from December 8, 2021(Inception) to September 30, 2022, one service provider, a related party, accounted for 42% 91% |
Recent accounting pronouncements | Recent accounting pronouncements In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40). This ASU reduces the number of accounting models for convertible debt instruments and convertible preferred stock and amends the guidance for the derivatives scope exception for contracts in an entity’s own equity to reduce form-over-substance-based accounting conclusions. In addition, this ASU improves and amends the related earnings per share guidance. This standard becomes effective for the Company beginning on October 1, 2024. Adoption is either a modified retrospective method or a fully retrospective method of transition. The Company adopted this guidance effective October 1, 2023, and the adoption of this standard did not have a material impact on its consolidated financial statements. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future financial statements. |
BASIS OF PRESENTATION AND SUM_3
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
SCHEDULE OF CASH AND CASH EQUIVALENTS | Cash equivalents includes demand deposits placed with banks or other financial institutions and all highly liquid investments with original maturities at purchase of three months or less, including money market funds. SCHEDULE OF CASH AND CASH EQUIVALENTS 2023 2022 As of 2023 2022 Cash and cash equivalents Denominated in United States Dollars $ 480,406 $ 1,378,501 Denominated in New Taiwan Dollars 283,185 83,005 Cash and cash equivalents $ 763,591 $ 1,461,506 |
SCHEDULE OF TRANSLATION OF AMOUNTS BETWEEN USD AND TWD | Translation of amounts from the local currencies of the Company into US$ has been made at the following exchange rates for the respective periods: SCHEDULE OF TRANSLATION OF AMOUNTS BETWEEN USD AND TWD As of and for the year ended As of Period-end NT$ : US$1 exchange rate 32.28 31.79 Period-average NT$ : US$1 exchange rate 31.11 29.23 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
SCHEDULE OF PROVISION FOR INCOME TAXES | Provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES Year ended For the Current: U.S. $ - $ - Taiwan 27,990 - Subtotal 27,990 Current: 27,990 Deferred: - - Provision for Income tax $ 27,990 $ - |
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE BENEFIT | A reconciliation of the income tax expense determined at the statutory income tax rate to the Company’s income taxes is as follows: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE BENEFIT Year ended For the period from Loss before income taxes $ (686,342 ) $ (732,677 ) United States of America statutory income tax rate 21 % 21 % Income tax (benefit) expense computed at statutory corporate income tax rate (144,132 ) (153,862 ) Effect of different tax jurisdictions 6,864 7,327 Change in valuation allowance 165,258 146,535 Provision for income taxes $ 27,990 $ - |
SCHEDULE OF OMPONENTS OF AGGREGATE DEFERRED TAX ASSETS | Significant components of the aggregate deferred tax assets consisted of the following: SCHEDULE OF OMPONENTS OF AGGREGATE DEFERRED TAX ASSETS 2023 2022 As of 2023 2022 Deferred tax assets: Net operating loss carry forwards $ 297,994 $ 153,862 Gross deferred tax assets 297,994 153,862 Less: valuation allowance (297,994 ) (153,862 ) Net deferred tax assets $ - $ - |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Related Party Transactions [Abstract] | |
SCHEDULE OF RELATED PARTIED INCURRED FEES TO LCHC AND AFFILIATES | For the year ended September 30, 2023, and during the period from December 8, 2021 (Inception) to September 30, 2022, the Company incurred the following fees to LCHC and affiliates: SCHEDULE OF RELATED PARTIED INCURRED FEES TO LCHC AND AFFILIATES Paid to: Description Year ended September 30, 2023 For the period from LCHC IT services $ 30,000 $ 5,336 LOC IT services 32,014 - LFAML Secretarial fees - 10,000 LFAML Consulting fees 300,000 300,000 Subtotal 362,014 315,336 LCHC Prepaid application development fees 450,000 450,000 Total $ 812,014 $ 765,336 |
SCHEDULE OF CASH AND CASH EQUIV
SCHEDULE OF CASH AND CASH EQUIVALENTS (Details) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Cash and cash equivalents | $ 763,591 | $ 1,461,506 |
United States of America, Dollars | ||
Cash and cash equivalents | 480,406 | 1,378,501 |
Taiwan, New Dollars | ||
Cash and cash equivalents | $ 283,185 | $ 83,005 |
SCHEDULE OF TRANSLATION OF AMOU
SCHEDULE OF TRANSLATION OF AMOUNTS BETWEEN USD AND TWD (Details) | Sep. 30, 2023 | Sep. 30, 2022 |
Accounting Policies [Abstract] | ||
Period-end NT$ : US$1 exchange rate | 32.28 | 31.79 |
Period-average NT$ : US$1 exchange rate | 31.11 | 29.23 |
BASIS OF PRESENTATION AND SUM_4
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 10 Months Ended | 11 Months Ended | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2023 | May 24, 2022 | |
Product Information [Line Items] | ||||
Entity Incorporation, Date of Incorporation | Dec. 08, 2021 | |||
Net loss | $ 732,677 | $ 714,332 | ||
Net cash used in operating activities | 267,606 | 215,101 | ||
Federal deposit insurance | $ 0 | 0 | ||
Reserve for uncollectible accounts receivable | 0 | 0 | 0 | |
Property, plant equipment impairments | 0 | 0 | ||
Impairment of application development fees | 450,000 | 450,000 | ||
Impairment of application development fees | 450,000 | |||
Operating leases, rent expense | $ 24,492 | |||
Dilutive securities | $ 0 | $ 0 | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | No Customer [Member] | ||||
Product Information [Line Items] | ||||
Operating costs and expenses percentage | 10% | 10% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | One Service [Member] | ||||
Product Information [Line Items] | ||||
Operating costs and expenses percentage | 91% | 42% | ||
Tide Holdings Limited [Member] | ||||
Product Information [Line Items] | ||||
Ownership percentage | 100% |
STOCKHOLDERS_ EQUITY (Details N
STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($) | 7 Months Ended | 10 Months Ended | 12 Months Ended | |
Feb. 25, 2022 | Sep. 26, 2022 | Sep. 30, 2022 | Sep. 30, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Number of shares issued during period | 13,855,500 | |||
Shares issued to additional founders | 200,000,000 | |||
Restricted common stock par value | $ 0.0001 | $ 0.0001 | ||
Net Proceeds from restricted common stock | $ 2,170,100 | |||
Restricted Stock [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Number of shares issued | 213,855,500 | |||
Net Proceeds from restricted common stock | $ 2,170,100 | |||
Value of shares issued to shareholders | $ 2,150,100 | |||
Restricted Stock [Member] | Terra Wave Holdings Limited [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Shares issued to additional founders | 10,000,000 | |||
Restricted common stock par value | $ 0.0001 | |||
Net Proceeds from restricted common stock | $ 9,626 | |||
Restricted Stock [Member] | Chief Executive Officer [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Shares issued to additional founders | 86,260,000 | |||
Restricted Stock [Member] | Additional Founders [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Shares issued to additional founders | 103,740,000 | |||
Restricted common stock par value | $ 0.0001 | |||
Net Proceeds from restricted common stock | $ 10,374 | |||
Restricted Stock [Member] | Stockholders [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Number of shares sold to shareholders | 13,855,500 | |||
Restricted Stock [Member] | Minimum [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Price per share | $ 0.0001 | |||
Restricted Stock [Member] | Minimum [Member] | Stockholders [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Price per share | $ 0.10 | |||
Restricted Stock [Member] | Maximum [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Price per share | $ 0.25 | |||
Restricted Stock [Member] | Maximum [Member] | Stockholders [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Price per share | $ 0.25 | |||
0.10 Dollar Per Share [Member] | Additional Stockholders [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Number of shares sold to shareholders | 7,200,000 | |||
Price per share | $ 0.10 | |||
0.10 Dollar Per Share [Member] | Additional Stockholders [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Value of shares issued to shareholders | $ 720,000 | |||
0.20 Dollar Per Share [Member] | Additional Stockholders [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Number of shares sold to shareholders | 4,675,500 | |||
Price per share | $ 0.20 | |||
Value of shares issued to shareholders | $ 935,100 | |||
0.25 Dollar Per Share [Member] | Additional Stockholders [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Number of shares sold to shareholders | 1,980,000 | |||
Price per share | $ 0.25 | |||
Value of shares issued to shareholders | $ 495,000 | |||
Common Stock [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Number of shares issued during period | 0 |
SCHEDULE OF PROVISION FOR INCOM
SCHEDULE OF PROVISION FOR INCOME TAXES (Details) - USD ($) | 10 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Sep. 30, 2023 | |
Current: | $ 27,990 | |
Deferred: | ||
Provision for Income tax | 27,990 | |
UNITED STATES | ||
Current: | ||
TAIWAN | ||
Current: | $ 27,990 |
SCHEDULE OF COMPONENTS OF INCOM
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE BENEFIT (Details) - USD ($) | 10 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | ||
Loss before income taxes | $ (732,677) | $ (686,342) |
United States of America statutory income tax rate | 21% | 21% |
Income tax (benefit) expense computed at statutory corporate income tax rate | $ (153,862) | $ (144,132) |
Effect of different tax jurisdictions | 7,327 | 6,864 |
Change in valuation allowance | 146,535 | 165,258 |
Provision for Income tax | $ 27,990 |
SCHEDULE OF OMPONENTS OF AGGREG
SCHEDULE OF OMPONENTS OF AGGREGATE DEFERRED TAX ASSETS (Details) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carry forwards | $ 297,994 | $ 153,862 |
Gross deferred tax assets | 297,994 | 153,862 |
Less: valuation allowance | (297,994) | (153,862) |
Net deferred tax assets |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | 10 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | ||
Income tax expenses | $ 27,990 | |
Taiwan effective interest rate | 20% | |
Unrecognized tax benefits | $ 0 | $ 0 |
SCHEDULE OF RELATED PARTIED INC
SCHEDULE OF RELATED PARTIED INCURRED FEES TO LCHC AND AFFILIATES (Details) - USD ($) | 10 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Sep. 30, 2023 | |
Related Party Transaction [Line Items] | ||
Total | 765,336 | 812,014 |
Leader Capital Holdings Corp [Member] | ||
Related Party Transaction [Line Items] | ||
LOC | $ 5,336 | $ 30,000 |
LCHC | 450,000 | 450,000 |
LOC Weibo Co Limited [Member] | ||
Related Party Transaction [Line Items] | ||
LOC | 32,014 | |
Leader Financial Asset Management Limited [Member] | ||
Related Party Transaction [Line Items] | ||
LFAML | 10,000 | |
LFAML | 300,000 | 300,000 |
Related Party [Member] | ||
Related Party Transaction [Line Items] | ||
Subtotal | $ 315,336 | $ 362,014 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 10 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Sep. 30, 2023 | |
Related Party Transaction [Line Items] | ||
Stock Issued During Period, Shares, New Issues | 13,855,500 | |
Impairment of application development | $ 450,000 | |
Mr Hsu [Member] | ||
Related Party Transaction [Line Items] | ||
Related party advanced amount | 13,627 | $ 4,257 |
Mr Hsu [Member] | Restricted Stock [Member] | ||
Related Party Transaction [Line Items] | ||
Shares owned | 96,260,000 | |
Mr Hsu [Member] | Restricted Stock [Member] | DFP Holdings Limited [Member] | ||
Related Party Transaction [Line Items] | ||
Percentage of equity owned | 45.01% | |
Chief Executive Officer [Member] | Restricted Stock [Member] | Leader Capital Holdings Corp [Member] | ||
Related Party Transaction [Line Items] | ||
Percentage of equity owned | 7.01% | |
Stock Issued During Period, Shares, New Issues | 15,000,000 | |
Mr. Jeff Lin [Member] | CPN Investment Limited [Member] | ||
Related Party Transaction [Line Items] | ||
Percentage of equity owned | 7.01% | |
Mr. Jeff Lin [Member] | Restricted Stock [Member] | CPN Investment Limited [Member] | ||
Related Party Transaction [Line Items] | ||
Stock Issued During Period, Shares, New Issues | 15,000,000 | |
LOC Weibo Co Limited [Member] | ||
Related Party Transaction [Line Items] | ||
Prepaid maintenance expenses to related party | 10,221 | $ 25,357 |
Leader Capital Holdings Corp [Member] | ||
Related Party Transaction [Line Items] | ||
Application development fees | 450,000 | 450,000 |
Impairment of application development | 450,000 | 450,000 |
Leader Capital Holdings Corp [Member] | Software Development [Member] | ||
Related Party Transaction [Line Items] | ||
Prepaid Expense, Current | $ 900,000 | $ 900,000 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - Private Placement [Member] - Subsequent Event [Member] - Common Stock [Member] - USD ($) | Dec. 13, 2023 | Nov. 01, 2023 |
Subsequent Event [Line Items] | ||
Number of shares sold | 1,357,400 | 1,357,400 |
Price per share | $ 0.50 | $ 0.50 |
Proceeds from sale of stock | $ 678,700 | $ 678,700 |