GAFC 10-K & 10-Q changes, risk factors and insider trading

During the year ended July 31, 2024,2025, we incurred total operating expenses of $105,472$134,289 compared to $761$105,472 during the periodyear from inception (March 7, 2023) toended July 31, 2023.2024. General and administrative and professional fee expenses incurred generally related to corporate overhead, financial and administrative contracted services, such as legal and accounting and developmental costs. This growth was primarily driven by the increase in website development costs during the year ended July 31,2025.

As atof July 31, 20242025 our total assetsasset werewas $68,190$0 compared to $4,064$63,043 in total assets at July 31, 2023.2024. As at July 31, 2024,2025, our total liabilities were $25,803$1,303, compared to $825$25,803 as of July 31, 2023. 2024.

For the year ended July 31, 2024,2025, net cash from used in operating activities was $2,359,$23,043, consisting of net loss of $22,972,$43,690, amortization expenses of $831,$897, increasedecrease in accounts payable of $10,000 and increasedecrease in prepaid sales of $14,500.

For the periodyear from inception (March 7, 2023) toended July 31, 2023,2024, net cash from used in operating activities was $761,$37,641, consisting entirely of net loss.loss of $22,972, amortization expenses of $831, increase in accounts payable of $10,000 and increase in prepaid sales of $14,500.

For the periodyear from inception (March 7, 2023) toended July 31, 2023,2024, net cash used in investing activities was $0.$5,978.

Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next six months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments.equity. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) developmental expenses associated with a start-up business and (ii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations.

As of the date of this Annual Report, we do not have any off balanceoff-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

As of JanuaryApril 31,30, 2026, we had an accumulated deficit deficit of $98,601.$102,645. Our financial statements have been prepared assuming that we will continue as a going concern. We expect we will require additional capital to meet our long-term operating requirements. We planexpect to raise additional capital through, among other things, the sale of equity.equity or debt securities.

SixNine Months Period Ended JanuaryApril 31,30, 2026

During the six-monthnine-month period ended JanuaryApril 31,30, 2026, 2026, the Company generatedhad $39,000 in revenue of $26,000 compared to $94,500 during the six-monthnine-month period ended JanuaryApril 31,30, 2025. TheThis decrease decline was primarily due to there has a large software development order during the six-monthnine-month period ended JanuaryApril 31,202530,2025 that did not recur during the six-monthnine-month period ended JanuaryApril 31,30, 2025.

During the six-monthnine-month period ended JanuaryApril 31,30, 2026, 2026, the Company had $15,000$22,500 in cost of revenue compared to $70,000 during the six-monthnine-month period ended JanuaryApril 31,30, 2025. The decrease in costCost of revenue decreased primarily as a result of lower software development revenue during the period..current period.

During the six-monthnine-month period ended JanuaryApril 31,30, 2026, 2026, we incurred total operating expenses of $ 42,178$51,722 compared to $32,230$55,715 during the six-monthnine-month period ended JanuaryApril 31,30, 2025. Operating expenses expenses incurred generally related to general and administrative and professional fee expenses, such as legal and accounting. The increasecomposition inof operating expenses wasremained primarilysubstantially drivenconsistent by consultation fee, legal fee duringbetween the six-monthnine-month period ended JanuaryApril 31,2026.30, 2026 and nine-month period ended April 30, 2025.

Our net loss for the six-monthnine-month period ended JanuaryApril 31,30, 2026 was $31,178$35,222 compared to $7,730$31,215 during the six-monthnine-month period ended JanuaryApril 31,30, 2025. The higher net loss for the current period was primarily attributable attributable to athe decrease inCompany's revenue couplednot withbeing ansufficient increaseto inoffset its cost of revenue and operating expenses.expense.

As of JanuaryApril 31,30, 2026 our total asset was $9,000$11,500 compared to $0 in total assets at July 31, 2025. As of JanuaryApril 31,30, 2026, our total liabilities were $41,481,$48,025, compared to $1,303 as of July July 31, 2025.

Stockholders’ deficit was $32,481$36,525 as of JanuaryApril 31,30, 2026 compared to the stockholders’ equitydeficit $1,303 as of July 31, 2025.

For the six-monthnine-month period ended JanuaryApril 31,30, 2026, net cash used in operating activities was $29,178,$23,678, consisting of net loss of $31,178,$35,222, increase in accounts receivable of $8,000, increase in accounts payable of $4,500 and increase in accrued liabilities other payables of $5,500.$15,044.

For the six-monthnine-month period ended JanuaryApril 31,30, 2025, net cash used in operating activities was $18,414,$22,351, consisting of net loss of $7,730,$31,215, amortization expense of $897, decrease in accounts payable of $9,652, increase in prepaid expenses of $598, decrease in accounts payable of $10,000, increase in accounts receivables of $20,000,$7,881, decrease in prepaid sales of $9,500, increase in accrued liabilities and other payables of $11,782$14,500, and change in contract assets $40,000.

Cash flows provided by financing activity during the six-monthnine-month period ended JanuaryApril 31,30, 2026 was $30,178$27,178, consisting of advances from related party of $30,178.$27,178.

Cash flows provided by financing activity during the six-monthnine-month period ended JanuaryApril 31,30, 2025 was $0.

As of JanuaryApril 31,30, 2026, the Company had a working capital deficit of $32,481$36,525 and an accumulated deficit of $98,601.$102,645. For the six-monthnine-month period ended JanuaryApril 31,30, 2026, the Company incurred a net loss of $31,178$35,222 and negative cash flows from operating activities of $29,178.$23,678. These factors raise substantial doubt about the ability of the company to continue as a going concern for a period of one year after the date that these financial statements are issued.

The Company’s ability to continue as a going concern is dependent upon its ability to acquire financial support from its major shareholder who is also sole officer and director to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, managementthere cannotcan providebe anyno assurances assurance that the Companysuch plans will be successfuleffectively inimplemented accomplishingor anywill ofmitigate itsthe plans.conditions Theand accompanyingevents giving rise to the substantial doubt. Accordingly, substantial doubt about the Company's ability to continue as a going concern continues to exist. These unaudited condensed consolidated financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.