LDXC — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-09-15

• Londax Corp. was incorporated in Wyoming on May 19, 2023. During the fiscal year ended May 31, 2026, the Company continued to operate as a development-stage technology company focused on IT consulting services and software development solutions. The Company’s historical principal product, londax.ai,…

• During the fiscal year, the Company’s principal executive office was located in Limassol, Cyprus. Following the fiscal year-end and the change in control described below, the Company relocated its principal executive offices and corporate books and records to 201 E. Fifth Street, Suite 1900, Cincinn…

• The Company’s technology has historically been delivered through web and mobile applications. Its CRM and recruiting workflow tools were designed to assist customers with job postings, applicant management, hiring stages, employee profiles and related workforce functions. The Company has used third-…

• As of February 28, 2026, the Company’s capitalized intangible assets included website development, mobile application development, CRM platform development and its Interview Kit Generator program. The Company historically estimated a three-year useful life for these technology assets, subject to con…

• The Company’s historical business plan contemplated revenue from software subscriptions, customization, data migration, training and consulting, integration, maintenance and support, and software upgrades and add-ons.

Text removed vs the prior filing · source: 10-K · 2025-09-02

• Our company was established as a Wyoming corporation on May 19, 2023. As a developmental-stage enterprise, our primary focus is on offering IT consulting services and software development solutions. Our web site is https://londaxcorp.com/. Currently, we have developed and implemented our flagship pr…

• Our principal executive office is located at Puces iela 47, Riga, Latvia LV-1082. Our phone number is +371 29591676.

• Our company develop and implement a customized Customer Relationship Management (CRM) System that facilitates out-staffing for our future clients. Our software is designed to seamlessly integrate into our clients' corporate structure, enabling them to hire and manage their staff, including top manag…

• We are intending to operate in Europe with potential for working worldwide. From a technical perspective, londax.ai is a web application consisting of Frontend and Backend components hosted on cloud services provided by AWS. Londax.ai CRM system is developed for analyzing and monitoring the recruitm…

• For the Artificial Intelligence functionality (advertisement generation), the OpenAI API is used.

Text added vs the prior filing · source: 10-K · 2026-09-15

• An investment in our common stock involves a high degree of risk. The following material risks should be considered together with the other information contained in this Annual Report.

• The Company has a limited operating history, limited revenue and recurring losses. For the year ended May 31, 2026, the Company recorded a net loss of $37,343 and had no cash at year-end. The Company may not generate sufficient operating cash flow to fund its activities.

• The audited financial statements include going-concern disclosure. At May 31, 2026, the Company had no cash, an accumulated deficit of $40,622 and current liabilities of $44,035. These conditions raise substantial doubt about the Company’s ability to continue as a going concern without additional fi…

• Liquidity, creditor payment and related-party financing risk

• At May 31, 2026, the Company had no cash and current liabilities of $44,035, including $37,741 of related-party loans and $5,298 of deferred income. The Company may be unable to pay creditors as obligations become due without additional financing or continued related-party support. There is no assur…

Text removed vs the prior filing · source: 10-K · 2025-09-02

• The Company currently relies on third-party hosting and software providers for its core platform operations, email communications, and data storage. These vendors maintain their own cybersecurity programs, which include network protection, access controls, and incident response procedures. While Lon…

• Executive management, consisting of the Chief Executive Officer and the Board, is responsible for identifying, evaluating, and responding to potential cyber risks. The Company periodically reviews its internal systems and third-party vendor protocols to assess vulnerabilities and ensure secure handl…

• To date, Londax Corp. has not experienced any material cybersecurity incidents, and no specific threat has materially affected or is reasonably likely to materially affect the Company’s business strategy, operations, or financial condition. However, the Company recognizes that its reliance on cloud …

• Management plans to formalize its cybersecurity policies and implement internal training protocols as the business grows.

• As of May 31, 2025, we have not identified an indication of a cybersecurity incident that would have a material impact on our business and consolidated financial statements. However, despite our efforts, we cannot eliminate all risks from cybersecurity threats, or provide assurances that we have not…

Text added vs the prior filing · source: 10-K · 2026-09-15

• Based on the information available to current management, the Company was not a party to any material legal proceedings during the fiscal year ended May 31, 2026.

Text removed vs the prior filing · source: 10-K · 2025-09-02

• During the past ten years, none of the following occurred with respect to the President of the Company: (1) any bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that …

• We are not currently a party to any legal proceedings, and we are not aware of any pending or potential legal actions.

Text added vs the prior filing · source: 10-K · 2026-09-15

• The following discussion should be read together with the audited financial statements and notes included in Item 8. The fiscal 2026 amounts below are derived from the final audited financial statements for the years ended May 31, 2026 and 2025.

• Revenue decreased by approximately $38,087, or 57.3%, to $28,323 in fiscal 2026 from $66,410 in fiscal 2025. The decrease was mainly due to a shift in the Company’s revenue model. In fiscal 2026, revenue was recognized from annual subscription services ratably over the subscription term, whereas the…

• Cost of sales was $0 in fiscal 2026 compared with $12,000 in fiscal 2025. Gross profit decreased to $28,323 from $54,410, primarily as a result of the decrease in revenue and the change in revenue model described above.

• Total operating expenses increased approximately $22,008, or 39.6%, to $77,616 from $55,608. Amortization and depreciation increased to $25,030 from $11,287. General and administrative expense declined to $232 from $26,932. Professional fees increased to $52,353 from $17,389, including approximately…

• Other income, net, was $11,949 in fiscal 2026, consisting principally of $12,000 of debt-forgiveness income offset by $51 of foreign-exchange loss. As a result, the Company recorded a net loss of $37,343 for fiscal 2026 compared with a net loss of $1,198 for fiscal 2025.

Text removed vs the prior filing · source: 10-K · 2025-09-02

• Results of Operations for the years ended May 31, 2025 and 2024:

• For the years ended May 31, 2025 and 2024, the Company generated total revenue of $66,410 and $25,297, respectively, from providing services to its customers. Revenue increased by approximately $41,113, or 162.5%, for the year ended May 31, 2025, compared to the same period in 2024. The increase was…

• Cost of sales for the years ended May 31, 2025 was $12,000, compared to $0 for the comparable period in 2024.

• Total operating expenses for the year ended May 31, 2025 were $55,608 ($27,179 for the year ended May 31, 2024) consisting of amortization and depreciation expense of $11,287 ($1,100 for the year ended May 31, 2024); general and administrative expenses of $26,932 ($4,271 for the year ended May 31, 2…

• The company recorded a net loss of $1,198 for the years ended May 31, 2025, and $1,882 for the year ended May 31, 2024. As a result of the factors described above, net loss for the year ended May 31, 2025 decreased by approximately $684, or 36.3%, as compared for the same period for 2024.