NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS

Summit Networks Inc. (together with its subsidiary, the "Company") was incorporated under the laws of the State of Nevada on July 8, 2014.

The Company currently maintains a simplified corporate structure. On May 8, 2020, Sumnet (Canada) Inc. ("Sumnet") was incorporated in Canada and is a wholly owned subsidiary of the Company.

During the year ended December 31, 2025, the Company completed a defined phase of internal development activities. These activities included organizational structuring, governance enhancement, and the development of internal operational models and digital workflow frameworks. This phase was designed as a preparatory stage to support future operations and was not intended to generate significant revenue.

The Company is currently in a strategic transition phase. Management’s primary focus is to pursue controlling acquisitions of cash-flow generating logistics enterprises, primarily in Asia, including port-based freight forwarding and related logistics service providers.

The Company intends to utilize the operational models and digital frameworks developed during fiscal 2025 to support post-acquisition integration, operational efficiency, and governance standardization.

Management has initiated preliminary evaluation and engagement with potential acquisition targets; however, no definitive agreements have been executed as of the date of these financial statements.