STOCKHOLDERS' (DEFICIT)/EQUITY |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Equity [Abstract] | |
| STOCKHOLDERS' (DEFICIT)/EQUITY | NOTE 8. STOCKHOLDERS' (DEFICIT)/EQUITY
Preferred stock
The Company is authorized to issue preferred stock shares with a par value of $ per share. preferred stock issued or outstanding as at December 31, 2025 and December 31, 2024.
Common stock
The Company is authorized to issue common stock shares with a par value of $ per share.
On October 2, 2023, the Company issued shares of common stock to Mrs. Chaoxia Huang, par value $ per share for $100,000, which was received in the year ended September 30, 2023, as the operating capital.
On March 27, 2024, the Company issued shares of common stock to Mrs. Chaoying Huang, for $100,000 as the operating capital.
On April 8, 2024 Summit Networks, Inc. (“SNTW”) entered into a stock purchase agreement with the shareholders of 1103001 B.C. Ltd., dba St. Mega Enterprises, a Canadian corporation, located in British Columbia Canada, (“Mega”). SNTW acquired all the outstanding common stock of Mega and the shareholders of Mega received shares of the common stock of SNTW. The shares are contingently returnable if the closing conditions are not met. On October 11, 2024, the Company and Mega agreed to entered into a reverse merger agreement, whereby the stock purchase agreement was rescinded and all previous actions in support of the transaction were reversed including the shares issued to the shareholders of Mega. On December 12, 2024, the shares of common stock were returned to the Company's share pool.
On April 9, 2024, the Company issued shares of common stock to Ms. Luo Qun in exchange for consulting services. The fair value of the common stock is $ per share based on the share price on the issuance date.
On July 13, 2024, the Company issued shares of common stock to Mrs. He Chen as consideration for providing IT-related services for a period of two years and shares of common stock to Mr. Xuezhi Ma for consideration for providing consulting services for a period of two years. The fair value of the common stock is $ per share based on the share price on the issuance date.
On December 14, 2024, the Company issued shares of common stock to Mr. Zhuo An Li as consideration for providing IT-related services for a period of one year. The fair value of the common stock is $ per share based on the share price on the issuance date.
On December 16, 2024, the Company issued shares of common stock to Ms. Julie Yijia Yan as a nominee of Mr. Jun Yan as consideration for providing IT-related services for a period of one year. The fair value of the common stock is $ per share based on the share price on the issuance date.
On December 16, 2024, the company issued shares of common stock to Mr. Adrian Sylvain Chua as consideration for providing IT-related services for a period of one year. The fair value of the common stock is $ per share based on the share price on the issuance date.
There were no shares issued during the year ended December 31, 2025.
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