Ahead-Wanting Statements
Sure statements, apart from purely historic info, together with
estimates, projections, statements referring to our enterprise plans, targets,
and anticipated working outcomes, and the assumptions upon which these statements
are based mostly, are “forward-looking statements” throughout the which means of the Personal
Securities Litigation Reform Act of 1995, Part 27A of the Securities Act of
1933 and Part 21E of the Securities Change Act of 1934. These
forward-looking statements usually are recognized by the phrases “believes,”
“undertaking,” “expects,” “anticipates,” “estimates,” “intends,” “technique,” “plan,”
“might,” “will,” “would,” “will probably be,” “will proceed,” “will seemingly end result,” and
comparable expressions. We intend such forward-looking statements to be coated by
the safe-harbor provisions for forward-looking statements contained within the
Personal Securities Litigation Reform Act of 1995, and are together with this
assertion for functions of complying with these safe-harbor provisions.
Ahead-looking statements are based mostly on present expectations and assumptions
which might be topic to dangers and uncertainties which can trigger precise outcomes to
differ materially from the forward-looking statements. Our capacity to foretell
outcomes or the precise impact of future plans or methods is inherently
unsure. Components which may have a fabric antagonistic impact on our operations
and future prospects on a consolidated foundation embody, however aren’t restricted to:
modifications in financial situations, legislative/regulatory modifications, availability of
capital, rates of interest, competitors, and usually accepted accounting
rules. These dangers and uncertainties also needs to be thought-about in
evaluating forward-looking statements and undue reliance shouldn’t be positioned on
such statements.
Any references to “the Firm” seek advice from Exceed World, Inc., which operates
by means of its wholly owned subsidiaries.
Firm Overview
Company Historical past
The Firm was initially integrated with the title Good Acquisition,
Inc., beneath the legal guidelines of the State of Delaware on November 25, 2014, with an
goal to amass, or merge with, an working enterprise. On January 12, 2016,
Thomas DeNunzio of 780 Reservoir Avenue, #123, Cranston, RI 02910, the only real
shareholder of the Firm, entered right into a Share Buy Settlement with
e-Studying Laboratory Co., Ltd., a Japan company (“e-Studying”). Pursuant to
the Settlement, Mr. DeNunzio transferred to e-Studying, 20,000,000 shares of our
widespread inventory which represents all of our issued and excellent shares.
Following the closing of the share buy transaction, e-Studying gained a
100% curiosity within the issued and excellent shares of our widespread inventory and
turned the controlling shareholder of the Firm.
On January 12, 2016, the Firm modified its title to Exceed World, Inc. and
filed with the Delaware Secretary of State, a Certificates of Modification. On
January 12, 2016, Mr. Thomas DeNunzio resigned as our Chief Govt Officer,
Chief Monetary Officer, President, Director, Secretary, and Treasurer. Additionally, on
January 12, 2016, Mr. Tomoo Yoshida was appointed as our Chief Govt
Officer, Chief Monetary Officer, President, Director, Secretary, and Treasurer.
On February 29, 2016, the Firm entered right into a Inventory Buy Settlement with
Tomoo Yoshida, our Chief Govt Officer, Chief Monetary Officer, President,
Director, Secretary, and Treasurer. Pursuant to this Settlement, Tomoo Yoshida
transferred to Exceed World, Inc., 10 shares of the widespread inventory of E&F Co.,
Ltd., a Japan company (“E&F”), which represents all of its issued and
excellent shares in consideration of $4,835 (JPY 500,000). Following the
efficient date of the share buy transaction on February 29, 2016, Exceed
World, Inc. gained a 100% curiosity within the issued and excellent shares of E&F’s
widespread inventory and E&F turned an entirely owned subsidiary of Exceed World. On August
4, 2016, the E&F modified its title to Faculty TV Co., Ltd (“Faculty TV”) and filed
with the Authorized Affairs Bureau in Osaka, Japan.
On April 1, 2016, e-Studying entered into inventory buy agreements with 7
Japanese people. Pursuant to those agreements, e-Studying offered 140,000
shares of widespread inventory in whole to those people and obtained $270 as
mixture consideration. Every paid JPY0.215 per share. On the time of buy
the worth paid per share by every was the equal of about $0.002. This sale
of shares was exempt from registration in accordance with Regulation S of the
Securities Act of 1933, as amended (“Regulation S”) as a result of the above gross sales of
the inventory have been made to non-U.S. individuals as outlined beneath Rule 902 part
(ok)(2)(i) of Regulation S, pursuant to offshore transactions, and no directed
promoting efforts have been made in america by the issuer, a distributor, any
of their respective associates, or any particular person appearing on behalf of any of the
foregoing.
On August 1, 2016, the Firm modified its fiscal 12 months finish from November 30 to
September 30.
On August 9, 2016, e-Studying entered into inventory buy agreements with 33
Japanese people. Pursuant to those agreements, e-Studying offered 3,300 shares
of widespread inventory in whole to those people and obtained $330 as mixture
consideration. Every paid JPY10 per share. On the time of buy the worth paid
per share by every shareholder was the equal to about $0.1. These shares
have been offered pursuant to the Firm’s efficient S-1 Registration Assertion deemed
efficient on July 20, 2016 at 4pm EST.
On October 28, 2016, the Firm, with the approval of its board of administrators
and its majority shareholders by written consent in lieu of a gathering,
licensed the cancellation of shares owned by e-Studying. e-Studying consented
to the cancellation of shares. The entire variety of shares cancelled was
19,000,000 shares which was comprised of 16,500,000 restricted widespread shares and
2,500,000 free buying and selling shares.
On October 28, 2016, each one (1) share of widespread inventory, par worth $.0001 per
share, of the Firm issued and excellent was routinely reclassified and
became twenty (20) shares absolutely paid and non-assessable shares of widespread
inventory of the Firm, par worth $.0001 per share. (“20-for-1 Ahead Inventory
Break up”) No fractional shares have been issued. The licensed variety of shares, and
par worth per share, of widespread inventory aren’t affected by the 20-for-1 Ahead
Inventory Break up.
Throughout July 2017 and August 2017, e-Studying entered into inventory buy
agreements with 24 Japanese people. Pursuant to those agreements,
e-Studying offered 2,240,000 shares of its widespread inventory in whole to those
people and obtained $38,263 as mixture consideration.
On September 26, 2018, Power Internationale Restricted, a Cayman Island restricted
firm (“Power Internationale”) entered right into a Share Buy Settlement with
its wholly-owned subsidiary, e-Studying and 74.5% proprietor of the Firm. Beneath
this Share Buy Settlement, e-Studying transferred its 74.5% curiosity within the
Firm to Power Internationale. As consideration for this switch, Power
Internationale paid $26,000.00 to e-Studying. Instantly subsequent, the
Firm entered right into a Share Buy Settlement with Power Internationale, to
purchase 100% of Power Holdings and 100% direct proprietor of e-Studying. In
consideration of this settlement, the Firm issued 12,700,000 widespread shares to
Power Internationale. The results of these transaction is that Power
Internationale is a 84.4% proprietor of the Firm, the Firm is a 100% proprietor of
Power Holdings, and Power Holdings is a 100% proprietor of e-Studying. Previous to the
Share Buy Agreements, Power Internationale was an oblique proprietor of 74.5%
of the Firm and subsequent to the Share Buy Agreements, Power
Internationale is a direct proprietor of 84.4% of the Firm. The Share Buy
Agreements have been permitted by the boards of administrators of every of the Firm,
Power Internationale, Power Holdings, and e-Studying.
On December 6, 2018, the Firm entered right into a share contribution settlement
(the “Contribution Settlement”) with Power Internationale. Beneath this Settlement,
the Firm transferred 100% of the fairness curiosity of Faculty TV Co., Ltd.
(“Faculty TV”), to Power Internationale with out consideration. This Contribution
Settlement was permitted by the board of administrators of the Firm, Power
Internationale and Faculty TV. Upon the completion of the disposal, Faculty TV was
deconsolidated from the Firm’s consolidated monetary statements.
Enterprise Info
As of June 30, 2022, we function by means of our wholly-owned subsidiaries, that are
engaged within the provision of the academic providers by means of an web
platform known as “Power Membership”.
Our principal government places of work are situated at 1-1-36, 1-23-38-6F, Esakacho,
Suita-shi, Osaka 564-0063, Japan. Our telephone quantity is +81-6-6339-4177.
Liquidity and Capital Sources
As of June 30, 2022, and September 30, 2021, we had money within the quantity of
$25,089,367 and $23,056,242, respectively. Presently, our money steadiness is
adequate to fund our operations with out the necessity for extra funding.
Revenues
We recorded income of $14,293,974 for the three months ended June 30, 2022 as
against $4,570,352 for the three months ended June 30, 2021. We recorded
income of 25,862,330 for the 9 months ended June 30, 2022 versus
$19,726,053 for the 9 months ended June 30, 2021. The rise in income, in
our opinion, is attributed to extend in recruitment actions of premium
Power Membership members and membership payment.
Internet Revenue
We recorded web revenue of $3,441,214 for the three months ended June 30, 2022 as
against web lack of $217,804 for the three months ended June 30, 2021. We
recorded web revenue of $3,489,768 for the 9 months ended June 30, 2022 as
against $1,994,960 for the 9 months ended June 30, 2021. The rise in
web revenue is attributed to extend in revenues.
Money move
For the 9 months ended June 30, 2022 we had money flows from operations within the
quantity of $6,755,722 versus $1,677,218 for the 9 months ended June 30,
2021. The rise in working money move, in our opinion, is principally attributed
to the rise in web revenue and deferred revenue, and reduce in settlement of
account payable.
Working capital
As of June 30 2022, and September 30, 2021, we had working capital of
$15,608,766 and $15,695,158, respectively.
Promoting
Promoting prices are expensed as incurred and included in promoting and
distributions bills. Promoting bills have been $405,240 and $480,283 for the
three months ended June 30, 2022 and 2021, respectively. For the 9 months
ended June 30, 2022 and 2021, promoting bills have been $956,869 and $657,186,
respectively.
Promoting bills have been comprised of, however not restricted to, gross sales occasions hosted
for gross sales brokers, exhibitions to advertise and show firm product choices,
signboards, and public relations actions.
Future Plans
Over the course of the following twelve months, the Firm continues to give attention to
increasing its gross sales community as a way to strengthen its enterprise actions. The
gross sales have been recovered within the interval beneath the evaluation. We additionally plan to
present some advantages and incentives to the Premium Members as value-added
providers, along with the traditional compensation package deal.
Influence of COVID-19
The quasi-emergency measures have been lifted in March 2022, financial system exercise in
Japan is regularly normalized. The Firm’s efficiency has considerably
improved in the course of the interval beneath evaluation. Nevertheless, as there may be nonetheless excessive
uncertainty of the evolving state of affairs, the Firm has restricted visibility on the
full influence introduced upon by the COVID-19 pandemic and the associated monetary
influence can’t be estimated presently.
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