GOING CONCERN AND RISKS RELATED TO WTL

9 Months Ended

Sep. 30, 2025

GOING CONCERN AND RISKS RELATED TO WTL

GOING CONCERN AND RISKS RELATED TO WTL

26.  GOING CONCERN AND RISKS RELATED TO WTL

GOING CONCERN UNCERTAINTY

Worldcall Telecom Limited (WTL) has incurred recurring losses from operations, has overdue borrowings, and is dependent on continued financial support from its shareholders, including the Company, to meet its obligations. These conditions raise substantial doubt about WTL’s ability to continue as a going concern.

Risks and Restrictions

Pursuant to ASC 810-10-50, the Company has considered risks and restrictions relating to WTL, including:

· Restrictions on transfer of funds: Due to WTL’s financial condition and local regulatory environment, there are restrictions on the upstreaming of dividends and other transfers of cash to the Company.

· Exposure to losses: As majority shareholder and financial supporter, the Company may be required to provide additional financial support to WTL in the future.

· Carrying amounts: As of September 30, 2025, WTL’s consolidated assets and liabilities included in the Company’s consolidated balance sheet were approximately $64.54 million and $47.74 million, respectively.

Management will continue to monitor WTL’s financial condition, liquidity requirements, and regulatory environment. Any material changes in WTL’s ability to continue as a going concern or transfer funds to the Company will be disclosed in future filings.