CFOR

New in FY2025

• We recently repositioned our business and are still in the early stages of developing our operations in this sector.
• We have repositioned into a new industry and are working to grow our business.
• Our operations within the securities and capital markets ecosystem subject us to complex and evolving regulatory requirements that could materially adversely affect our business.
• We provide technology, data, and advisory solutions that support securities offerings, listing readiness, and cross-border capital markets activities.
• While we are not registered as a broker-dealer or securities exchange in the United States or other jurisdictions, certain aspects of our services may be subject to regulation by securities authorities in the United States and in foreign jurisdictions.
• Regulatory frameworks applicable to technology-enabled platforms in the securities industry are evolving and, in some cases, may be unclear or subject to differing interpretations.
• As a result, we may be required to obtain additional licenses or approvals, adjust our business practices, or limit certain activities in particular jurisdictions.
• Our cross-border activities may also subject us to multiple and potentially conflicting regulatory regimes, including requirements relating to investor solicitation, data handling, and capital flows.
• Compliance with these regulations may increase our costs and operational complexity and could limit our ability to expand our platform.
• Any such developments could have a material adverse effect on our business, financial condition, and results of operations.
• Our operations in Malaysia and our personnel in Singapore subject us to economic, political, and regulatory risks that could adversely affect our business.
• We operate in Malaysia and maintain personnel in Singapore, and may further expand internationally.
• As a result, we are subject to risks associated with conducting business outside the United States, including changes in laws and regulations, currency controls, and differing governance and disclosure standards.
• Regulatory frameworks in these jurisdictions, particularly for capital markets and financial services activities, may continue to evolve and may limit or condition our operations.
• In addition, legal protections and enforcement mechanisms may be more limited or uncertain than in the United States.
• These factors may increase our compliance costs and operational complexity and could limit our ability to operate effectively or expand in these markets, which could have a material adverse effect on our business, financial condition, and results of operations.
• Global economic and geopolitical conditions could adversely affect our business and the capital markets environment in which we operate.
• Our business depends, in part, on the stability of global financial markets.
• Geopolitical developments, including conflicts, sanctions, or instability in regions such as the Middle East, may result in market volatility, reduced investor confidence, and disruptions to cross-border capital flows.
• Such conditions may also contribute to inflation, currency volatility, and tighter financial conditions, which could reduce demand for capital markets transactions, including public offerings and cross-border listings.
• In addition, sanctions or export controls could restrict our ability to engage with certain counterparties or jurisdictions.
• Any such developments could adversely affect our business, financial condition, and results of operations.
• We may not realize the anticipated benefits of our acquisition of iCapX, and integration and development of the platform may present challenges.
• The integration of iCapX into our platform and its continued development involve risks, including potential difficulties in combining systems, data, and product offerings, as well as maintaining data integrity and security.
• We may also face challenges in scaling the platform and supporting new functionalities.
• The anticipated benefits of the acquisition, including enhanced capabilities and business opportunities, may not be realized within expected timeframes or at all.
• In addition, we may incur ongoing costs related to development and maintenance.
• If integration of the platform into our other offerings is not successful or proves more costly than expected, it could adversely affect our business, financial condition, and results of operations.
• Our reliance on data and advanced computational model-enabled analytics presents risks related to data quality, regulatory oversight, and performance.
• Our platform will depend on the accuracy and completeness of underlying data, including data provided by third parties.
• If such data is inaccurate or incomplete, our outputs may be less reliable, which could affect customer confidence.
• Since we do not control third party providers of data, we may have limited ability to ensure or verify the accuracy and completeness of such data.
• The use of advanced computational model-enabled tools in financial and regulatory contexts may also be subject to evolving regulatory requirements, which could increase compliance obligations or limit certain applications.
• In addition, our models may not perform as expected in all circumstances.
• We may pursue joint ventures or strategic partnerships in the future, which could involve risks that adversely affect our business.
• We have established a framework for a joint venture with the European Credit Investment Bank (“ECIB”), and we may enter into such joint venture in the future.
• We may also pursue and enter into joint ventures or alternative strategic partnerships with other parties.
• These arrangements, if consummated, would involve risks that are not present in wholly owned operations, including shared control, reliance on third parties, and the potential for disagreements regarding strategy or execution.
• We may have limited ability to influence partners’ actions, and their performance may not align with our expectations.
• In addition, such arrangements may require management attention and resources and could involve operational or financial risks.

and 27 more.

Gone since FY2024

• We are repositioning our business and are still in the early stages of developing our operations in this sector.
• We are repositioning into a new industry and working to grow our business.
• We have incurred significant net losses since our inception and, although we generated revenue during the current reporting period, we cannot assure you that we will achieve or sustain profitability in the future.
• We are currently undergoing a strategic repositioning of our business, and our long-term success depends on our ability to effectively implement and adapt this evolving strategy in a dynamic and competitive market.
• As a result, we may continue to experience operating losses, and we cannot guarantee that our business model will succeed or that we will achieve positive financial results.
• Our success depends in part on the service of our senior management team as well as key technical employees and other highly skilled personnel, and on our ability to identify, hire, develop, motivate, retain and integrate highly qualified personnel for all areas of our organization.
• AEI and its affiliates own approximately 75.9% of our outstanding common stock.
• The successful operation of our business depends upon the performance and reliability of Internet, mobile, and other infrastructures that are not under our control.
• Our business depends on the performance and reliability of Internet, mobile and other infrastructures that are not under our control.
• During 2024, the market price of our common stock fluctuated from a low of $0.60 per share to a high of $7.80 per share, and our stock price continues to fluctuate.
• There is limited trading activity for our Common Stock in the OTC market.
• As of December 31, 2024, we had outstanding warrants to acquire a total of 1,092,572 shares of our common stock, and stock options to purchase 138 shares of our common stock.
• A significant number of such warrants have exercise prices above our common stock’s recent trading prices; however, the holders have the right to effect a cashless exercise of such warrants.
• If a significant number of such warrants and stock options are exercised by the holders, whether through cash or cashless exercises, the percentage of our common stock owned by our existing stockholders will be diluted.
• We have never paid dividends on our capital stock, and we do not anticipate paying dividends in the foreseeable future.
• We have never paid dividends on any of our capital stock and currently intend to retain any future earnings to fund the growth of our business.
• We may also enter into credit agreements or other borrowing arrangements in the future that will restrict our ability to declare or pay cash dividends on our common stock.
• Any determination to pay dividends in the future will be at the discretion of our Board of Directors and will depend on our financial condition, operating results, capital requirements, general business conditions and other factors that our Board of Directors may deem relevant.
• As a result, capital appreciation, if any, of our common stock will be the sole source of gain, if any, for the foreseeable future.
• The financial markets and the global economy may also be adversely affected by the current or anticipated impact of military conflict, including the conflicts between (i) Russia and Ukraine and (ii) Israel and Hamas, terrorism or other geopolitical events.