Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2024

Summary of Significant Accounting Policies [Abstract]

Schedule of Subsidiaries

The consolidated financial statements include the financial statements of the Company and its subsidiaries as of September 30, 2024. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation.

	Principal activities	Percentage of ownership	Date of incorporation	Place of incorporation
EpicQuest Education Group International Limited (the “Company” or “EpicQuest”) (formerly  Elite Education International Co. Ltd.)	Investment holding	—	December 13, 2017	BVI
Quest Holdings International LLC (“QHI”)	Foreign education programs and student dormitory services	100%	December 19, 2012	Ohio, US
Quest International Education Center LLC (“QIE”) (formerly Miami International Education Center LLC)	Collection of tuition payments from oversea students	100%	January 23, 2017	Ohio, US
Highrim Holding International Limited (“HHI”)	Investing holding	100%	July 9, 2021	BC, Canada
Richmond Institute of Language Inc. (“RIL” or “EduGlobal College”)	Academic services for college and university applications	100%	April 18, 2008	BC, Canada
Ameri-Can Education Group Corp. (“Ameri-Can”)	Education services	70%	November 17, 2019	Ohio, US
Study Up Center, LLC (“SUPC”)	Student education assistance	100%	April 27, 2022	Ohio, US
Davis University (“DU”)	Education services	70%	1858	Ohio, US
Skyward Holding International Limited (“Skyward”)	Investment holding	100%	June 13, 2023	MB, Canada
Gilmore INV LLC (“Gilmore”)	Investment holding	100%	November 17, 2023	Ohio, US
SouthGilmore LLC  (“SouthGilmore”)	Sporting	40%	November 20, 2023	Ohio, US

Schedule of Foreign Currency Exchange Rates

The following are the exchange rates that were used in translating RIL’s financial statements into the consolidated financial statements:

	September 30, 2024	September 30, 2023
Year-end spot rate	US$1=C$ 1.3511	US$1=C$ 1.3535
Average rate	US$1=C$ 1.3606	US$1=C$ 1.3486

Schedule of Property and Equipment Expected Useful Lives and Estimated Residual Values

The estimated annual deprecation rates of these assets are generally as follows:

Category	Depreciation years	Estimated residual value
Buildings	33 to 39	$Nil
Machinery & equipment	3	$Nil
Vehicles	5	$Nil
Furniture and fixtures	7	$Nil
Software	5	$Nil
Leasehold improvement	Lesser of lease term or economic life	$Nil

Schedule of Intangible Assets Estimated Useful Lives

Amortization is recognized in net earnings on a straight-line basis over the estimated useful lives of intangible assets from the date that they are available for use. The estimated useful lives are:

Asset	Basis	Rate / term
University relationship	Straight-line	10 years
Education license/certificate	Straight-line	5 years
In-process course curriculum	Straight-line	5 years
Accreditations and licensing	n/a	Indefinite life
Accredited curriculum	Straight-line	10 years
Articulation agreement	Straight-line	5 years
Brand related assets	n/a	Indefinite life

Schedule of Consolidated Balance Sheets

Consolidated Balance Sheets

	Year ended September 30, 2023						Year ended September 30, 2023
	As previously reported (US$)			Adjustment (US$)			As revised (US$)
Additional paid-in-capital		18,232,263			(103,263	)		18,129,000
Deficit		(9,071,818	)		103,263			(8,968,555	)
Total shareholder’ equity		9,143,206			-			9,143,206

Schedule of Consolidated Statements of Operations and Comprehensive Loss

Consolidated Statements of Operations and Comprehensive Loss

	September 30, 2023						September 30, 2023
	As previously reported (US$)			Adjustment (US$)			As revised (US$)
General and administrative		10,314,223			(103,263	)		10,210,960
Total operating costs and expenses		11,333,117			(103,263	)		11,229,854
Loss from operations		(7,122,892	)		103,263			(7,019,629	)
Loss before provision for income taxes		(6,883,661	)		103,263			(6,780,398	)
Net loss		(7,173,125	)		103,263			(7,069,862	)
Net loss attributable to common stockholders		(6,762,704	)		103,263			(6,659,441	)
Comprehensive loss		(7,180,470	)		103,263			(7,077,207	)
Basic & diluted net loss per share		(0.58	)		0.01			(0.57	)
Weighted average number of ordinary shares-basic and diluted		11,655,642			-			11,655,642

Schedule of Consolidated Statements of Cash flows

Consolidated Statements of Cash flows

	Year ended September 30, 2023						Year ended September 30, 2023
	As previously reported (US$)			Adjustment (US$)			As revised (US$)
Cash Flows from Operating Activities
Net loss		(7,173,125	)		103,263			(7,069,862	)
Adjustments for items not affecting cash:
Share-based compensation		2,165,073			(103,263	)		2,061,810
Net cash provided from (used in) operating activities		(5,252,527	)		-			(5,252,527	)