COMMITMENTS AND CONTINGENCIES

12 Months Ended

Jan. 31, 2023

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

Note 10 – COMMITMENTS AND CONTINGENCIES

Legal Proceedings

The Company is from time to time involved in ordinary routine litigation incidental to the conduct of its business. The Company regularly reviews all pending litigation matters in which it is involved and establishes reserves deemed appropriate for such litigation matters, which reserved amounts are charged to operations in the year during which they are accrued. The Company believes that no presently pending litigation matters are likely to have a material adverse effect on the Company’s financial statements or results of operations, taken as a whole.

During the reporting period, the Company became aware that its former Chief Executive Officer, Mr. Cheng-Hsiang Kao, and Chairman of the Board, Mr. Pao-Chi Chu, are involved in civil and criminal legal proceedings in Taiwan. The proceedings involve allegations concerning the unauthorized use or disclosure of business know-how and intellectual property. The Company is not a named party in these proceedings. On August 7, 2025, Mr. Kao and Chu, along with the other officers resigned and appointed Ms. Ssu-Chuan Lai as the sole director and to all of the officer positions. The new management has evaluated the available information and, as of the balance sheet date, concluded that the matters are not expected to have a material adverse effect on the Company’s financial condition or results of operations. Management will continue to monitor the situation and assess any implications on the Company’s leadership or its operations.