10-Q
Birdie Win Corp (BRWC)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
FORM 10-Q
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended ### April 30, 2025
or
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ______ to ______
Commission File Number 000-56644
BIRDIE WIN CORPORATION
(Exact name of registrant issuer as specified in its charter)
| Nevada | 8200 | 38-4179726 |
|---|---|---|
| (State or other jurisdiction<br><br> <br>of incorporation or organization) | (Primary Standard Industrial<br><br> <br>Classification Number) | (IRS Employer<br><br> <br>Identification Number) |
0000
Unit 8,6/F, Wayson Commercial Building, 28 Connaught Road West, Hong Kong
(Address of principal executive offices, including zip code)
Issuer’s telephone number: (+86) 13824472731
Company email: brwc888@163.com
(Registrant’s telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter) during the preceding twelve months (or shorter period that the registrant was required to submit and post such files).
Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
| Large Accelerated Filer ☐ | Accelerated Filer ☐ | Non-accelerated Filer ☒ | Smaller reporting company ☒ |
|---|---|---|---|
| Emerging growth company ☒ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCYPROCEEDINGS DURING THE
PRECEDING FIVE YEARS:
Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.
N/A
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name on each exchange on which registered |
|---|---|---|
| N/A | N/A | N/A |
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
| Class | Outstanding on April 30, 2025 |
|---|---|
| Common Stock, $0.001 par value | 6,720,000 |
TABLE OF CONTENTS
| Page | ||
|---|---|---|
| PART I | FINANCIAL INFORMATION | |
| ITEM 1. | CONDENSED FINANCIAL STATEMENTS: | |
| CONDENSED BALANCE SHEETS AS OF APRIL 30, 2025 (UNAUDITED) AND JULY 31, 2024 (AUDITED) | F-1 | |
| CONDENSED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS FOR THE THREE AND NINE MONTHS ENDED APRIL 30, 2025 AND 2024 (UNAUDITED) | F-2 | |
| CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY FOR THE THREE AND NINE MONTHS ENDED APRIL 30, 2025 AND 2024 (UNAUDITED) | F-3 | |
| CONDENSED STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED APRIL 30, 2025 AND 2024 (UNAUDITED) | F-4 | |
| NOTES TO CONDENSED FINANCIAL STATEMENT FOR THE NINE MONTHS ENDED APRIL 30, 2025 | F-5 – F-12 | |
| ITEM 2. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 3 - 5 |
| ITEM 3. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK | 6 |
| ITEM 4. | CONTROLS AND PROCEDURES | 6 |
| PART II | OTHER INFORMATION | |
| ITEM 1 | LEGAL PROCEEDINGS | 8 |
| ITEM 2 | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS | 8 |
| ITEM 3 | DEFAULTS UPON SENIOR SECURITIES | 8 |
| ITEM 4 | MINE SAFETY DISCLOSURES | 8 |
| ITEM 5 | OTHER INFORMATION | 8 |
| ITEM 6 | EXHIBITS | 8 |
| SIGNATURES | 9 |
| -2- |
| --- |
PART I — FINANCIAL INFORMATION
ITEM 1. CONDENSED FINANCIAL STATEMENTS
BIRDIE WIN CORPORATION
CONDENSED BALANCE SHEETS
AS OF APRIL 30, 2025 (UNAUDITED) ANDJULY 31, 2024(AUDITED)
(CURRENCY EXPRESSED IN UNITED STATESDOLLARS (“US$”), EXCEPT FOR NUMBER OF SHARES)
| As<br> of | |||||
|---|---|---|---|---|---|
| July<br> 31, 2024 | |||||
| (Audited) | |||||
| ASSETS | |||||
| Current<br> assets | |||||
| Cash<br> and cash equivalents | 1,768 | $ | 1,845 | ||
| Accounts<br> receivable | - | - | |||
| Prepayment<br> (including 20,000 and 0 of consulting services from related parties as of April 30, 2025 and April 30, 2024 respectively) | 26,368 | 10,912 | |||
| Total<br> current assets | 28,136 | 12,757 | |||
| Non - current<br> asset | |||||
| Plant<br> and equipment, net | - | $ | 137 | ||
| Total<br> non - current asset | - | 137 | |||
| TOTAL<br> ASSETS | 28,136 | $ | 12,894 | ||
| LIABILITIES<br> AND STOCKHOLDERS’ EQUITY | |||||
| Current<br> liabilities | |||||
| Accrued<br> liabilities | 2,500 | $ | 5,410 | ||
| Other<br> payable | - | 7,780 | |||
| Total<br> current liabilities | 2,500 | 13,190 | |||
| Total<br> liabilities | 2,500 | $ | 13,190 | ||
| Stockholders’<br> equity | |||||
| Common<br> stock – Par value 0.001; Authorized: 75,000,000 shares; Issued and outstanding: 6,720,000 and 5,760,000 shares as of April<br> 30, 2025 and July 31, 2024, respectively | 6,720 | $ | 5,760 | ||
| Additional<br> paid in capital | 82,845 | 51,840 | |||
| Accumulated<br> deficit | (63,929 | ) | (57,896 | ) | |
| Total<br> stockholders’ equity | 25,636 | $ | (296 | ) | |
| TOTAL<br> LIABILITIES AND STOCKHOLDERS’ EQUITY | 28,136 | $ | 12,894 |
All values are in US Dollars.
The accompanying notes are an integral part of these financial statements.
| F-1 |
| --- |
BIRDIE WIN CORPORATION
CONDENSED STATEMENT OF OPERATIONS AND COMPREHENSIVELOSS
FOR THE THREE AND NINE MONTHS ENDED APRIL 30,2025 AND 2024
(UNAUDITED)
(CURRENCY EXPRESSED IN UNITED STATES DOLLARS(“US$”), EXCEPT FOR NUMBER OF SHARES)
| 2024 | 2025 | 2024 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nine<br> months ended April 30 | |||||||||||
| 2024 | 2025 | 2024 | |||||||||
| Revenue | 5,000 | $ | 5,000 | $ | 25,000 | $ | 20,000 | ||||
| Operating<br> expenses | |||||||||||
| General<br> and administrative expenses (including 4,000 and 0 of general and administrative expenses to related parties for the three<br> months ended April 30, 2025 and 2024, respectively, and 4,000 and 0 of general and administrative expenses to related<br> parties for the nine months ended April 30, 2025 and 2024, respectively) | 11,855 | 9,420 | 30,897 | 36,161 | |||||||
| Depreciation | - | 186 | 137 | 558 | |||||||
| Total<br> operating expenses | 11,855 | 9,606 | 31,033 | 36,719 | |||||||
| Loss<br> from operations | (6,855 | ) | (4,606 | ) | (6,033 | ) | (16,719 | ) | |||
| Net<br> loss | (6,855 | ) | (4,606 | ) | (6,033 | ) | (16,719 | ) | |||
| Earnings<br> per share | |||||||||||
| Net<br> loss per common share – basic and diluted | (0.00 | ) | (0.00 | ) | (0.00 | ) | (0.00 | ) | |||
| Weighted<br> average number of ordinary shares | |||||||||||
| Basic<br> and diluted | 6,417,978 | 5,464,889 | 5,974,505 | 5,179,562 |
All values are in US Dollars.
The accompanying notes are an integral part of these financial statements.
| F-2 |
| --- |
BIRDIE WIN CORPORATION
CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS’EQUITY
FOR THE THREE AND NINE MONTHS ENDED APRIL 30,2025 AND 2024
(UNAUDITED)
(CURRENCY EXPRESSED IN UNITED STATES DOLLARS(“US$”), EXCEPT FOR NUMBER OF SHARES)
| Shares | Amount | capital | Deficit | Total | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Common<br> Stock | Additional<br> paid in | Accumulated | ||||||||||
| Shares | Amount | capital | Deficit | Total | ||||||||
| Balance as<br> of July 31, 2024 | 5,760,000 | 5,760 | 51,840 | (57,896 | ) | (296 | ) | |||||
| Net loss | - | - | - | (82 | ) | (82 | ) | |||||
| Balance as of October 31,<br> 2024 | 5,760,000 | 5,760 | 51,840 | (57,978 | ) | (378 | ) | |||||
| Net income | - | - | - | 904 | 904 | |||||||
| Balance as of January 31,<br> 2025 | 5,760,000 | 5,760 | 51,840 | (57,074 | ) | 526 | ||||||
| Net loss | (6,855 | ) | (6,855 | ) | ||||||||
| Debt forgiveness | - | - | 7,965 | - | 7,965 | |||||||
| Share<br> issuance# | 960,000 | 960 | 23,040 | - | 24,000 | |||||||
| Balance as of April 30,<br> 2025 | 6,720,000 | 6,720 | 82,845 | (63,929 | ) | 25,636 | ||||||
| # | 960,000 shares of common stock were issued to 3 new directors. | |||||||||||
| --- | --- | |||||||||||
| Common<br> Stock | Additional<br> paid in | Accumulated | ||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Shares | Amount | capital | Deficit | Total | ||||||||
| Balance as<br> of July 31, 2023 | 5,040,000 | 5,040 | 34,560 | (33,814 | ) | 5,786 | ||||||
| Net loss | - | - | - | (11,993 | ) | (11,993 | ) | |||||
| Balance as of October 31,<br> 2023 | 5,040,000 | 5,040 | 34,560 | (45,807 | ) | (6,207 | ) | |||||
| Net loss | - | - | - | (120 | ) | (120 | ) | |||||
| Balance as of January 31,<br> 2024 | 5,040,000 | 5,040 | 34,560 | (45,927 | ) | (6,327 | ) | |||||
| Balance | 5,040,000 | 5,040 | 34,560 | (45,927 | ) | (6,327 | ) | |||||
| Net loss | - | - | - | (4,606 | ) | (4,606 | ) | |||||
| Net<br> income (loss) | - | - | - | (4,606 | ) | (4,606 | ) | |||||
| Share<br> issuance* | 200,000 | 200 | 4,800 | - | 5,000 | |||||||
| Share<br> issuance# | 520,000 | 520 | 12,480 | - | 13,000 | |||||||
| Balance as of April 30,<br> 2024 | 5,760,000 | 5,760 | 51,840 | (50,533 | ) | 7,067 | ||||||
| Balance | 5,760,000 | 5,760 | 51,840 | (50,533 | ) | 7,067 | ||||||
| * | 200,000 shares of common stock were issued to subscriber | |||||||||||
| --- | --- | |||||||||||
| # | 520,000 shares of common stock were issued to service provider. | |||||||||||
| --- | --- |
The accompanying notes are an integral part of these financial statements.
| F-3 |
| --- |
BIRDIE WIN CORPORATION
CONDENSED STATEMENT OF CASH FLOWS
FOR THE NINE MONTHS ENDED APRIL 30, 2025 AND2024
(UNAUDITED)
(CURRENCY EXPRESSED IN UNITED STATES DOLLARS(“US$”), EXCEPT FOR NUMBER OF SHARES)
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| For<br> the Nine Months Ended | ||||||
| April<br> 30 | ||||||
| 2025 | 2024 | |||||
| Cash Flows<br> From Operating Activities: | ||||||
| Net<br> loss | $ | (6,033 | ) | $ | (16,719 | ) |
| Adjustments<br> to reconcile net loss to net cash used in operating activities: | ||||||
| Depreciation | 137 | 558 | ||||
| Debt<br> forgiveness | 7,965 | - | ||||
| Impairment<br> of accounts receivable | - | 10,000 | ||||
| Non-cash<br> compensation | 24,000 | 13,000 | ||||
| Changes<br> in operating assets and liabilities: | ||||||
| Prepayment | (15,456 | ) | (13,137 | ) | ||
| Accrued<br> liabilities | (2,910 | ) | (2,500 | ) | ||
| Amounts<br> due to a director | - | 3,990 | ||||
| Other<br> payable | (7,780 | ) | - | |||
| Net<br> cash used in operating activities | (77 | ) | (4,808 | ) | ||
| Cash<br> Flows From Investing Activity: | - | - | ||||
| Cash Flows<br> From Financing Activity: | ||||||
| Proceeds<br> from issuance of shares | - | 5,000 | ||||
| Net<br> cash provided by financing activity | - | 5,000 | ||||
| Net change<br> in cash and cash equivalents | (77 | ) | 192 | |||
| Cash<br> and cash equivalents, beginning of year | 1,845 | - | ||||
| Cash<br> and cash equivalents, end of year | $ | 1,768 | $ | 192 | ||
| Supplemental<br> Disclosures of Non-Cash Investing and Financing Activities | ||||||
| Issuance<br> of common stock for service provider | $ | 24,000 | $ | - |
The accompanying notes are an integral part of these financial statements.
| F-4 |
| --- |
BIRDIE WIN CORPORATION
NOTES TO CONDENSED FINANCIAL STATEMENTS
FOR THE NINE MONTHS ENDED APRIL 30, 2025
(CURRENCYEXPRESSED IN UNITED STATES DOLLARS (“US$”), EXCEPT FOR NUMBER OF SHARES)
1. ORGANIZATION AND BUSINESS BACKGROUND
Birdie Win Corporation, a Nevada corporation (“the Company”) was incorporated under the laws of the State of Nevada on April 16, 2021.
Birdie Win Corporation is headquartered in Hong Kong. We provide financial literacy seminar services to Malaysian and Hong Kong individuals and families. Our mission is to improve the financial well-being of our clients.
The Company’s executive office is located at Unit 8, 6/F, Wayson Commercial Building, 28 Connaught Road West, Hong Kong.
On April 16, 2021, Mr. Chee Yong Yee (“Mr. Yee”) was appointed as President, Secretary, Treasurer and a member of our Board of Directors. Mr. Yee also served as Chief Executive Officer of the Company.
On April 16, 2021, the
Company issued 3,600,000 shares of restricted common stock, with a par value of $0.001 per share, to Mr. Chee Yong Yee in consideration of $3,600. The $3,600 in proceeds went to the Company to be used as working capital.
In regards to all of the above transactions we claim an exemption from registration afforded by Section 4a(2) and/or Regulation S of the Securities Act of 1933, as amended (“Regulation S”) due to the fact that all sales of stock were made to non-U.S. persons (as defined under Rule 902 section (k)(2)(i) of Regulation S), pursuant to offshore transactions, and no directed selling efforts were made in the United States by the issuer, a distributor, any of their respective affiliates, or any person acting on behalf of any of the foregoing.
On August 27, 2021, the
Company has submitted initial Form S-1 Registration Statement to S.E.C registering an offering by the Company amounted up to $120,000 to Securities & Exchange Commission (“S.E.C”), which was later declared effective on September 23, 2021.
On October 11, 2021,
the Company resolved to close the public offering pursuant to Form S-1, resulting in 1,440,000 shares of common stock being sold at $0.025 per share for a total of $36,000. The proceed of $36,000 went directly to the Company and shall be utilized pursuant to the use of proceed stated in the Form S-1.
On July 27, 2023, the sole officer and director of the Company, Chee Yong Yee, tendered his resignations as Director, President, Chief Executive Officer, Secretary, and Treasurer of the Company, and appointed Mr. Zonghan Wu as new President, Chief Executive Officer, Secretary, Treasurer, and Director of the Company, effective July 27, 2023.
On July 18, 2024, the sole officer and director of the Company, Zonghan Wu, tendered his resignations as Director, President, Chief Executive Officer, Secretary, and Treasurer of the Company, and appointed Yunyuan Chen as new President, Chief Executive Officer, Secretary, Treasurer, and Director of the Company, effective July 18, 2024.
On March 04, 2025, the sole officer and director of the Company, Yunyuan Chen, tendered her resignations as Director, President, and Chief Executive Officer of the Company. Ms Chen will remain the Secretary and Treasurer of the Company. The Company’s Board of Directors appointed Shiyong Zhao to serve as the Company’s Chief Executive Officer and Chairman, Fengjun Wang and Yidong Bao as Directors of the Company.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation
The unaudited condensed financial statements for Birdie Win Corporation for the period ended April 30, 2025 are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial statement, instructions to Form 10-Q and Regulations S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. These condensed financial statements should be read in conjunction with the financial statements and notes thereto included in our annual report on Form 10-K for the year ended July 31, 2024. In management’s opinion, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation to make our financial statements not misleading have been included. The results of operations for the periods ended April 30, 2025 and 2024 presented are not necessarily indicative of the results to be expected for the full year. The Company has adopted July 31 as its fiscal year end.
| F-5 |
| --- |
Use of estimates
Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates.
Cash and Cash Equivalents
Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.
Accounts Receivable
Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of accounts receivable. The Company extends credit to its customers in the normal course of business and generally does not require collateral. The Company’s credit terms are dependent upon the segment, and the customer. The Company assesses the probability of collection from each customer at the outset of the arrangement based on a number of factors, including the customer’s payment history and its current creditworthiness. If in management’s judgment collection is not probable, the Company does not record revenue until the uncertainty is removed.
Management performs ongoing credit evaluations, and the Company maintains an allowance for potential credit losses based upon its loss history and its aging analysis. The allowance for doubtful accounts is the Company’s best estimate of the amount of credit losses in existing accounts receivable. Management reviews the allowance for doubtful accounts each reporting period based on a detailed analysis of trade receivables. In the analysis, management primarily considers the age of the customer’s receivable, and also considers the creditworthiness of the customer, the economic conditions of the customer’s industry, general economic conditions and trends, and the business relationship and history with its customers, among other factors. If any of these factors change, the Company may also change its original estimates, which could impact the level of the Company’s future allowance for doubtful accounts. If judgments regarding the collectability of receivables were incorrect, adjustments to the allowance may be required, which would reduce profitability.
Accounts receivable are recognized and carried at the original invoice amount less an allowance for any uncollectible amounts. An estimate for doubtful accounts receivable is made when collection of the full amount is no longer probable. Bad debts are written off as identified.
| F-6 |
| --- |
Plant and equipment
Plant and equipment are stated at cost less accumulated depreciation and impairment. Depreciation of plant, equipment and software are calculated on the straight-line method over their estimated useful lives or lease terms generally as follows:
SCHEDULE
OF ESTIMATED USEFUL LIFE
| Classification | Useful Life |
|---|---|
| Computer and Software | 3 years |
Revenue Recognition
Revenue is generated through provision of Personal Financial Literacy Seminar (PFL Seminar) services to customer. Revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods and services. The Company applies the following five-step model in order to determine this amount:
| (i) identification of the promised goods and services in the contract; |
|---|
| (ii) determination of whether the promised goods and services are performance obligations, including whether they are distinct in the context of the contract; |
| (iii) measurement of the transaction price, including the constraint on variable consideration; |
| (iv) allocation of the transaction price to the performance obligations; and |
| (v) recognition of revenue when (or as) the Company satisfies each performance obligation. |
The Company adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606). Under Topic 606, the Company records revenue when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed or determinable and collectability is probable. The Company records revenue from the provision of services upon delivery of the finalized Personal Financial Report to the customer.
Earnings Per Share
The Company reports earnings per share in accordance with ASC 260 “Earnings Per Share”, which requires presentation of basic and diluted earnings per share in conjunction with the disclosure of the methodology used in computing such earnings per share. Basic earnings per share excludes dilution and is computed by dividing income available to common stockholders by the weighted average common shares outstanding during the period. Diluted earnings per share takes into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock. Further, if the number of common shares outstanding increases as a result of a stock dividend or stock split or decreases as a result of a reverse stock split, the computations of a basic and diluted earnings per share shall be adjusted retroactively for all periods presented to reflect that change in capital structure.
The Company’s basic earnings per share is computed by dividing the net income available to holders by the weighted average number of the Company’s ordinary shares outstanding. Diluted earnings per share reflects the amount of net income available to each ordinary share outstanding during the period plus the number of additional shares that would have been outstanding if potentially dilutive securities had been issued.
Income Taxes
The Company accounts for income taxes using the asset and liability method prescribed by ASC 740 “Income Taxes”. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the years in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date.
New U.S. federal tax legislation, commonly referred to as the Tax Cuts and Jobs Act (the “U.S. Tax Reform”), was signed into law on December 22, 2017. The U.S. Tax Reform modified the U.S. Internal Revenue Code by, among other things, reducing the statutory U.S. federal corporate income tax rate from 35% to 21% for taxable years beginning after December 31, 2017; limiting and/or eliminating many business deductions; migrating the U.S. to a territorial tax system with a one-time transaction tax on a mandatory deemed repatriation of previously deferred foreign earnings of certain foreign subsidiaries; subject to certain limitations, generally eliminating U.S. corporate income tax on dividends from foreign subsidiaries; and providing for new taxes on certain foreign earnings. Taxpayers may elect to pay the one-time transition tax over eight years, or in a single lump-sum payment.
| F-7 |
| --- |
Related parties
Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.
Fair Value Measurement
Accounting Standards Codification (“ASC”) 820 “Fair Value Measurements and Disclosures”, which defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. The statement clarifies that the exchange price is the price in an orderly transaction between market participants to sell the asset or transfer the liability in the market in which the reporting entity would transact for the asset or liability, that is, the principal or most advantageous market for the asset or liability. It also emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and that market participant assumptions include assumptions about risk and effect of a restriction on the sale or use of an asset.
This ASC establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:
Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
Level 2: Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and
Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).
Recently accounting pronouncements
The Company has reviewed all recently issued, but not yet effective, considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which requires disaggregated information about the reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The ASU 2023-09 is effective for annual periods beginning after December 15, 2024.
In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses. The new standard requires entities to disclose additional information about certain expenses, such as purchases of inventory, employee compensation, depreciation, intangible asset amortization, as well as selling expenses included in commonly presented expense captions on the income statement. The FASB further clarified the effective date in January 2025 with the issuance of ASU 2025-01, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. The ASU is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Companies have the option to apply this guidance either on a retrospective or prospective basis, and early adoption is permitted.
The Company reviews new accounting standards as issued. Management has not identified any other new standards that it believes will have a significant impact on the Company’s financial statements.
| F-8 |
| --- |
3. ACCOUNTS RECEIVABLE
SCHEDULE
OF ACCOUNTS RECEIVABLE
| As of<br> <br>April 30, 2025<br> <br>(Unaudited) | As of<br> <br>July 31, 2024<br> <br>(Audited) | |||||
|---|---|---|---|---|---|---|
| Accounts<br> receivable | $ | 10,000 | $ | 10,000 | ||
| Allowance<br> for doubtful accounts | (10,000 | ) | (10,000 | ) | ||
| Total | $ | - | $ | - |
As of April 30, 2025 and July 31, 2024, accounts
receivable of $10,000 were netted off with allowance for doubtful debts of $10,000. The total outstanding balance for trade receivable is $0.
The amount due from trade receivable is subject to normal trade credit term.
4. PREPAYMENT
SCHEDULE
OF PREPAYMENT
| As of<br> <br>April 30, 2025<br> <br>(Unaudited) | As of<br> <br>July 31, 2024<br> <br>(Audited) | |||
|---|---|---|---|---|
| Prepaid<br> expenses | $ | 26,368 | $ | 10,912 |
| Total | $ | 26,368 | $ | 10,912 |
As of April 30, 2025 and July 31, 2024, total
prepaid expenses was $26,368 and $10,912 which mainly from the consultancy fee, stock and registrar fee, professional and legal fee.
As of April 30, 2025 and July 31, 2024, amount
of $20,000 and $0 of consulting services from related parties.
5. PLANT AND EQUIPMENT
Plant and equipment consisted of the following as of April 30, 2025 and July 31, 2024:
SCHEDULE
OF PLANT AND EQUIPMENT
| As of<br> <br>April 30, 2025 (Unaudited) | As of<br> <br>July 31, 2024 (Audited) | |||||
|---|---|---|---|---|---|---|
| Computer and<br> software | $ | 2,231 | $ | 2,231 | ||
| Less:<br> accumulated depreciation | (2,231 | ) | (2,094 | ) | ||
| Plant<br> and equipment, net | $ | - | $ | 137 |
Depreciation expense for the period ended April
30, 2025 and April 30, 2024 was $137 and $558 respectively.
6. OTHER PAYABLE
As of January 31, 2025, the former director of
the Company, Zonghan Wu advanced $7,780 to the Company, which is unsecured and non-interest bearing and is repayable on demand.
On July 18, 2024, Mr. Zonghan Wu tendered his resignations as director.
As of January 31, 2025, the current director of
the Company, Yunyuan Chen advanced $185 to the Company, which is unsecured and non-interest bearing and is repayable on demand.
On February 01, 2025, Mr. Zonghan Wu waived the
repayment of the $7,780 loan. Ms. Yunyuan Chen waived the repayment of the $185 loan. As such, there are currently no interested/related party loans between Zonghan Wu, Yunyuan Chen and the Company.
On March 04, 2025, Ms. Yunyuan Chen tendered her resignations as Director, President, and Chief Executive Officer of the Company. Ms Chen will remain the Secretary and Treasurer of the Company.
7. SHAREHOLDERS’ EQUITY
The Company has 75,000,000 shares of common stock
authorized.
During the year ended July 31, 2024, the Company
issued an aggregated of 200,000 shares of its common stock at $0.025 per share for aggregate gross proceeds of $5,000. The Company also issued an aggregated of 520,000 shares of its common stock at $0.025 per share for two service providers for consideration of $13,000.
On March 24, 2025, a Stock Purchase Agreement
was entered into between TOPP Holdings Group Ltd (the “Seller”), whose controlling person is Yunyuan Chen, and Shiyong Zhao (the “Purchaser”), wherein the Purchaser purchased 2,640,000 shares of Common Shares from the Seller, par value $0.001 per share (the “Shares”), of Birdie Win Corporation, a Nevada corporation (the “Company”). As a result, the Purchaser became an approximately 44.6% holder of the voting rights of the issued and outstanding shares of the Company, on a fully-diluted basis.
During the nine months period ended April 30,
2025, the Company issued an aggregated of 960,000 shares of its common stock at $0.025 per share, totaling $24,000, as consideration for consulting services provided by three newly appointed directors.
As of April 30, 2025, the Company has 6,720,000
shares of common stock issued and outstanding. There are no shares of preferred stock authorized.
| F-9 |
| --- |
8. INCOME TAX
The loss from operation before income taxes of the Company for the nine months ended April 30, 2025 and 2024 were comprised of the following:
SCHEDULE
OF LOSS FROM OPERATION BEFORE INCOME TAXES
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| For the nine months ended<br> <br>April 30 | ||||||
| 2025 | 2024 | |||||
| Tax jurisdictions from: | ||||||
| – Local | $ | (6,033 | ) | $ | (16,719 | ) |
| Loss<br> before income taxes | $ | (6,033 | ) | $ | (16,719 | ) |
United States of America
The Tax Act reduces the U.S. statutory corporate
tax rate from 35% to 21% for our tax years beginning in 2018, which resulted in the re-measurement of the federal portion of our deferred tax assets from the 35% to 21% tax rate. The Company is registered in the State of Nevada and is subject to United States of America tax law. As of April 30, 2025, the operations in the United States of America incurred $63,929 of cumulative net operating losses (NOL’s) which can be carried forward to offset future taxable income. The NOL carryforwards begin to expire in 2042, if unutilized. The Company has provided for a full valuation allowance of approximately $13,425 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.
The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of April 30, 2025 and July 31, 2024:
SCHEDULE OF AGGREGATE DEFERRED TAX ASSETS
| As<br> of | As<br> of | |||||
|---|---|---|---|---|---|---|
| April<br> 30, 2025 | July<br> 31, 2024 | |||||
| Deferred tax assets: | ||||||
| Net operating loss carryforwards | ||||||
| – United<br> States of America | $ | 13,425 | $ | 12,158 | ||
| Net<br> operating loss carryforwards – United States of America | $ | 13,425 | $ | 12,158 | ||
| Less:<br> valuation allowance | (13,425 | ) | (12,158 | ) | ||
| Deferred<br> tax assets | $ | - | $ | - |
Management believes that it is more likely than
not that the deferred tax assets will not be fully realizable in the future. Accordingly, the Company provided for a full valuation allowance against its deferred tax assets of $13,425 as of April 30, 2025.
9. RELATED PARTY TRANSACTIONS
On March 1, 2025, the company has entered into
an agreement with 3 new director for a term of 12 months by providing consultant services. The Company issued an aggregated of 960,000 shares of its common stock at $0.025 per share, totaling $24,000, as consideration for consulting services provided by three newly appointed directors.
During the nine months period ended April 30,
2025, the directors provided consulting services of $4,000 to the Company and remaining $20,000 of consulting services will be rendered in subsequent periods.
10.
CONCENTRATIONS OF RISK
Customer Concentration
For the three months ended April 30, 2025, there
was one customer who accounted for 100% of the Company’s revenues. For the three months ended April 30, 2024, there was one customer who accounted for 100% of the Company’s revenues. The customers who accounted for 100% of the Company’s revenues and its outstanding receivable balance at period-end is presented below:
SCHEDULE OF REVENUES AND OUTSTANDING RECEIVABLE
| For<br> the three months ended April 30 | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | |||||||||
| Revenue | Percentage of<br> <br>Revenue | Accounts<br> <br> receivable | ||||||||||||
| Customer A | $ | 5,000 | $ | - | 100 | % | - | $ | - | $ | - | |||
| Customer<br> B | - | 5,000 | - | 100 | % | - | - | |||||||
| Total | $ | 5,000 | $ | 5,000 | 100 | % | 100 | % | $ | - | $ | - |
For the nine months ended April 30, 2025, there
was one customer who accounted for 100% of the Company’s revenues. For the nine months ended April 30, 2024, there was one customer who accounted for 100% of the Company’s revenues. The customers who accounted for 100% of the Company’s revenues and its outstanding receivable balance at period-end is presented below:
| For<br> the nine months ended April 30 | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | |||||||||
| Revenue | Percentage of<br> <br>Revenue | Accounts<br> <br> receivable | ||||||||||||
| Customer<br> A | $ | 25,000 | $ | - | 100 | % | - | $ | - | $ | - | |||
| Customer<br> B | - | 20,000 | - | 100 | % | - | - | |||||||
| Total | $ | 25,000 | $ | 20,000 | 100 | % | 100 | % | $ | - | $ | - |
| F-10 |
| --- |
11. SEGMENT REPORTING
ASC 280, “Segment Reporting” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organization structure as well as information about services categories, business segments and major customers in financial statements. The Company has single reportable segment based on business unit, financial services business and two reportable segments based on country, Malaysia and Hong Kong.
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. Existing 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.
SCHEDULE OF SEGMENT REPORTING
| By<br> Business Unit | Financial<br> Services <br> Business | Total | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| For the Nine Months Ended and<br> <br>As of April 30, 2025 | ||||||||||
| By<br> Business Unit | Financial<br> Services <br> Business | Total | ||||||||
| Revenue | $ | 25,000 | $ | 25,000 | ||||||
| Cost of revenue | - | - | ||||||||
| Operating<br> expenses | (31,033 | ) | (31,033 | ) | ||||||
| Loss<br> from operations | (6,033 | ) | (6,033 | ) | ||||||
| Total assets | $ | 28,136 | $ | 28,136 | ||||||
| Capital expenditure | $ | - | $ | - | ||||||
| By<br> Business Unit | Financial<br> Services <br> Business | Total | ||||||||
| --- | --- | --- | --- | --- | --- | --- | ||||
| For the Nine Months Ended and<br> <br>As of April 30, 2024 | ||||||||||
| By<br> Business Unit | Financial<br> Services <br> Business | Total | ||||||||
| Revenue | $ | 20,000 | $ | 20,000 | ||||||
| Cost of revenue | - | - | ||||||||
| Operating<br> expenses | (36,719 | ) | (36,719 | ) | ||||||
| Loss<br> from operations | (16,719 | ) | (16,719 | ) | ||||||
| Total assets | $ | 16,347 | $ | 16,347 | ||||||
| Capital expenditure | $ | - | $ | - | ||||||
| By<br> Country | United<br> States | Hong<br> Kong | Malaysia | Total | ||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| For<br> the Nine Months Ended and As of April 30, 2025 | ||||||||||
| By<br> Country | United<br> States | Hong<br> Kong | Malaysia | Total | ||||||
| Revenue | $ | - | $ | 25,000 | $ | - | $ | 25,000 | ||
| Cost of revenue | - | - | - | - | ||||||
| Operating<br> expenses | - | (31,033 | ) | - | (31,033 | ) | ||||
| Loss<br> from operations | - | (6,033 | ) | - | (6,033 | ) | ||||
| Total assets | $ | - | $ | 28,136 | $ | - | $ | 28,136 | ||
| Capital expenditure | $ | - | $ | - | $ | - | $ | - |
| F-11 |
| --- | | By<br> Country | United<br> States | | Hong<br> Kong | | | Malaysia | | | Total | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | For<br> the Nine Months Ended and As of April 30, 2024 | | | | | | | | | | | | By<br> Country | United<br> States | | Hong<br> Kong | | | Malaysia | | | Total | | | | Revenue | $ | - | $ | 20,000 | | $ | - | | $ | 20,000 | | | Cost of revenue | | - | | - | | | - | | | - | | | Operating<br> expenses | | - | | (26,719 | ) | | (10,000 | ) | | (36,719 | ) | | Loss<br> from operations | | - | | (6,719 | ) | | (10,000 | ) | | (16,719 | ) | | Total assets | $ | - | $ | 16,347 | | $ | - | | $ | 16,347 | | | Capital expenditure | $ | - | $ | - | | $ | - | | $ | - | |
12. SUBSEQUENT EVENTS
In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred after April 30, 2025 up through the date the Company issued the financial statements. During the period, the Company did not have any material recognizable subsequent events.
| F-12 |
| --- |
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSISOF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The information contained in this quarter reporton Form 10-Q is intended to update the information contained in our Form 10-K dated October 3, 2024, for the year ended July 31,2024 andpresumes that readers have access to, and will have read, the “Management’s Discussion and Analysis” and other informationcontained in such Form 10-K. The following discussion and analysis also should be read together with our financial statements and thenotes to the financial statements included elsewhere in this Form 10-Q.
The following discussion contains certain statementsthat may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.Such statements appear in a number of places in this Report, including, without limitation, “Management’s Discussion and Analysis”These statements are not guarantees of future performance and involve risks, uncertainties and requirements that are difficult to predictor are beyond our control. Forward-looking statements speak only as of the date of this quarter report. You should not put undue relianceon any forward-looking statements. We strongly encourage investors to carefully read the factors described in our Form S-1 registrationstatement, filed on August 27, 2021, in the section entitled “Risk Factors” for a description of certain risks that could,among other things, cause actual results to differ from these forward-looking statements. We assume no responsibility to update the forward-lookingstatements contained in this quarter report on Form 10-Q. The following should also be read in conjunction with the unaudited CondensedFinancial Statements and notes thereto that appear elsewhere in this report.
Company Overview
We, Birdie Win Corporation, a Nevada corporation (“the Company”) was incorporated under the laws of the State of Nevada on April 16, 2021.
The Company’s executive office is located at Unit 8, 6/F, Wayson Commercial Building, 28 Connaught Road West, Hong Kong. We offer one-on-one Personal Financial Literacy Seminar services, with a focus on providing such services to customers in Malaysia and Hong Kong individuals or families.
| -3- |
| --- |
Results of operations
Three months ended April 30, 2025 and 2024
Revenues
For the three months ended April 30, 2025, the Company generated revenue in the amount of $5,000. The revenue was generated as a result of the Company having provided one Personal Financial Literacy Seminar (PFL Seminar) to a participant.
For the three months ended April 30, 2024, the Company generated revenue in the amount of $5,000. The revenue was generated as a result of the Company having provided one Personal Financial Literacy Seminar (PFL Seminar) to a participant.
Operating Expenses
For the three months ended April 30, 2025, the Company had operating expenses in the amount of $11,855. These were primarily comprised of audit fees, consultancy fees, and other professional fees.
For the three months ended April 30, 2024, the Company had operating expenses in the amount of $9,606. These were primarily comprised of audit fees, stock and registrar fees, and other professional fees.
The increase of the operating expenses was the result of the increase in consultancy fees.
Net loss
For the three months ended April 30, 2025, the Company has incurred a net loss of $6,855.
For the three months ended April 30, 2024 the Company has incurred a net loss of $4,606.
Nine months ended April 30, 2025 and 2024
Revenues
For the nine months ended April 30, 2025, the Company generated revenue in the amount of $25,000. The revenue was generated as a result of the Company having provided five Personal Financial Literacy Seminars (PFL Seminar) to participants.
For the nine months ended April 30, 2024, the Company generated revenue in the amount of $20,000. The revenue was generated as a result of the Company having provided four Personal Financial Literacy Seminars (PFL Seminar) to participants.
Operating Expenses
For the nine months ended April 30, 2025, the Company had general and administrative expenses in the amount of $31,033. These were primarily comprised of audit fees, consultancy fees, and other professional fees.
For the nine months ended April 30, 2024, the Company had general and administrative expenses in the amount of $36,719. These were primarily comprised of allowance for doubtful accounts, audit fees, bookkeeping fees, and other professional fees.
The decrease of the general and administrative expenses was the result of the decrease in allowance for doubtful accounts and bookkeeping fees.
Net loss
For the nine months ended April 30, 2025, the Company has incurred a net loss of $6,033.
For the nine months ended April 30, 2024, the Company has incurred a net loss of $16,719.
| -4- |
| --- |
Liquidity and Capital Resources
Cash Used in Operating Activities
For the nine months ended April 30, 2025, the Company has net cash outflow $77 in operating activities, which was primarily attributable to net loss from operation, increase in prepayment and decrease in accrued liabilities and other payable .
For the nine months ended April 30, 2024, the Company has net cash outflow $4,808 in operating activities, which was primarily attributable to net loss from operation, increase in prepayment, decrease in accrued liabilities and increase in amount due to a director.
Off-Balance Sheet Arrangements
The Company has no off-balance sheet arrangements.
Critical Accounting Policies
Recent adopted accounting standards
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The ASU 2023-07 is effective for annual reporting periods beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company already adopted this ASU on its consolidated financial statements and related disclosures.
Recent accounting pronouncements
The Company has reviewed all recently issued, but not yet effective, considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which requires disaggregated information about the reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The ASU 2023-09 is effective for annual periods beginning after December 15, 2024.
In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses. The new standard requires entities to disclose additional information about certain expenses, such as purchases of inventory, employee compensation, depreciation, intangible asset amortization, as well as selling expenses included in commonly presented expense captions on the income statement. The FASB further clarified the effective date in January 2025 with the issuance of ASU 2025-01, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. The ASU is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Companies have the option to apply this guidance either on a retrospective or prospective basis, and early adoption is permitted.
The Company reviews new accounting standards as issued. Management has not identified any other new standards that it believes will have a significant impact on the Company’s financial statements.
| -5- |
| --- |
Item 3 Quantitative and Qualitative DisclosuresAbout Market Risk.
As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.
Item 4 Controls and Procedures.
Disclosure Controls and Procedures
We maintain disclosure controls and procedures, as defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934 (the “Exchange Act”), that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms and that such information is accumulated and communicated to our management, including our principal executive and principal financial officers, or persons performing similar functions, as appropriate, to allow timely decisions regarding required disclosure.
We carried out an evaluation, under the supervision and with the participation of our management, including our chief executive officer, of the effectiveness of our disclosure controls and procedures as of April 30, 2025. Based on the evaluation of these disclosure controls and procedures, and in light of the material weaknesses found in our internal controls over financial reporting, our chief executive officer concluded that our disclosure controls and procedures were not effective. The matters involving internal controls and procedures that our management considered to be material weaknesses under the standards of the Public Company Accounting Oversight Board were: (i) lack of a functioning audit committee due to a lack of a majority of independent members and a lack of a majority of outside directors on our board of directors, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; (ii) inadequate segregation of duties and effective risk assessment; and (iii) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines. The aforementioned material weaknesses were identified by our chief executive officer in connection with the review of our financial statements as of April 30, 2025.
Management’s Report on Internal Controlover Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. The internal controls for the Company are provided by executive management’s review and approval of all transactions. Our internal control over financial reporting also includes those policies and procedures that:
| 1. | pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets; |
|---|---|
| 2. | provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. GAAP, and that our receipts and expenditures are being made only in accordance with the authorization of our management; and |
| 3. | provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements. |
| -6- |
| --- |
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Management assessed the effectiveness of the Company’s internal control over financial reporting as of April 30, 2025. In making this assessment, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control-Integrated Framework. Management’s assessment included an evaluation of the design of our internal control over financial reporting and testing of the operational effectiveness of these controls.
As of April 30, 2025, management assessed the effectiveness of our internal control over financial reporting based on the criteria for effective internal control over financial reporting established in Internal Control — Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in 2013 and SEC guidance on conducting such assessments. Based on such evaluation, the Company’s management concluded that, during the period covered by this Report, our internal control over financial reporting were not effective due to the presence of material weaknesses.
Changes in Internal Control over FinancialReporting:
There were no changes in our internal control over financial reporting during the nine months ended April 30, 2025, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
| -7- |
| --- |
PART II — OTHER INFORMATION
Item 1. Legal Proceedings
We are not subjected to nor engaged in any litigation, arbitration or claim of material importance, and no litigation, arbitration or claim of material importance is known to us to be pending or threatened by or against our Company that would have a material adverse effect on our Company’s results of operations or financial condition. Further, there are no proceedings in which any of our directors, officers or affiliates, or any beneficial shareholder are an adverse party or has a material interest adverse to our Company.
Item 2. Unregistered Sales of Equity Securitiesand Use of Proceeds
None.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
Item 5. Other Information.
None.
ITEM 6. Exhibits
| 31.1 | Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer |
|---|---|
| 32.1 | Section 1350 Certification of principal executive officer |
| 101.INS | Inline XBRL Instance Document |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document |
| 101.LAB | Inline XBRL Taxonomy Extension Labels Linkbase Document |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
| -8- |
| --- |
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Birdie Win Corporation |
|---|
| (Name of Registrant) |
Date: June 05, 2025
| By: | /s/ SHIYONG ZHAO |
|---|---|
| SHIYONG ZHAO | |
| Title: | Chief Executive Officer, President, Director <br><br>(Principal Executive Officer) |
| By: | /s/ YUNYUAN CHEN |
| --- | --- |
| YUNYUAN CHEN | |
| Title: | Secretary, Treasurer<br><br>(Principal Financial Officer, Principal Accounting Officer) |
| -9- |
| --- |
EXHIBIT 31.1
CERTIFICATION
I, SHIYONG ZHAO, certify that:
I have reviewed this quarterly report on Form 10-Q of Birdie Win Corporation (the “Company”) for the quarter ended April 30, 2025;
Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
| a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
|---|---|
| b. | Designed such internal control over financial reporting, or caused such internal control to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. |
| c. | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
| d. | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
- The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
| a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and | |
|---|---|---|
| b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. | |
| Date: June 05, 2025 | By: | /s/ SHIYONG ZHAO |
| --- | --- | --- |
| SHIYONG ZHAO | ||
| Chief Executive Officer, Director | ||
| (Principal Executive Officer) |
EXHIBIT 32.1
CERTIFICATION
PURSUANT TO 18
U.S.C. SECTION 1350,
AS ADOPTED
PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY
ACT OF 2002
In connection with the quarterly report of Birdie Win Corporation (the “Company”) on Form 10-Q for the period ended April 30, 2025 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), The undersigned hereby certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:
| (1) | The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and | |
|---|---|---|
| (2) | The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company. | |
| Date: June 05, 2025 | By: | /s/ YUNYUAN CHEN |
| --- | --- | --- |
| YUNYUAN CHEN | ||
| Secretary, Treasurer | ||
| (Principal Financial Officer, Principal Accounting Officer) |
A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.