INCOME TAXES

12 Months Ended

Nov. 30, 2025

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 8 – INCOME TAXES

The components of the Company’s provision for federal income tax for the years ended November 30, 2025 and 2024 consists of the following:

	November 30, 2025			November 30, 2024
Federal income tax benefit attributable to:
Current operations	$	564,891		$	497,739
Less: valuation allowance		(564,891	)		(497,739	)
Net provision for federal income taxes	$	–		$	–

For the fiscal year ended November 30, 2025, taxable income/loss and accrued income taxes by jurisdiction are as follows:

Jurisdiction	Taxable Income/Loss (USD)			Accrued Income Taxes (USD)
Hong Kong (Mei Sheng Corporation Limited)	$	206,563		$	17,041
United States (Ankam LLC, Apex Intelligence LLC, Ankam, Inc.)	$	(771,454	)	$	–
Total	$	(564,891	)	$	17,041

Note: The Hong Kong profits tax for Mei Sheng Corporation Limited is calculated at 8.25% on the first HKD 2,000,000 (equivalent to approximately USD 257,353) of taxable income, resulting in an accrued tax amount of $17,041. As the company’s financial year-end in Hong Kong is March 31, this tax amount has not yet been settled as of the end of the reporting period (November 30, 2025). The company’s taxable income of $206,563 does not exceed HKD 2,000,000, so no additional tax is required. The three U.S. entities generated a combined net operating loss of $771,454, paid no income taxes, and recorded a full valuation allowance.

ANKAM, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOVEMBER 30, 2025 AND 2024

The cumulative tax effect at the expected rate of 21% of significant items comprising our net deferred tax amount is as follows:

	November 30, 2024			November 30, 2023
Deferred tax asset attributable to:
Net operating loss carryover	$	118,627		$	104,525
Less: valuation allowance		(118,627	)		(104,525	)
Net deferred tax asset	$	–		$	–

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $564,891 as of November 30, 2025, for federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carry forwards may be limited as to use in future years.