M&A - Xenous Holdings, Inc.

Form Type: 10-K

Filing Date: 2025-06-27

Corporate Action: Acquisition

Type: Update

Accession Number: 000164033425001069

Filing Summary: Xenous Holdings, Inc. has been actively evaluating potential acquisitions and is considering an acquisition of Dadvance Agarwood Alpha Sdn Bhd. Despite initial unsuccessful negotiations, the company is maintaining a thorough evaluation process of Dadvance's commercial viability, operational growth, market engagement, and product acceptance. Recent developments include Dadvance's expansion in the Gulf and European markets, certification of its agarwood oil quality, and scaling up production capacity. Nonetheless, the final decision on the acquisition hinges on the conversion of strategic leads into long-term contracts, confirmation of supply chain capabilities, comprehensive market feasibility studies, and receiving a fairness opinion on the acquisition’s value. The Board continues to assess Dadvance as a promising target for growth, but no definitive agreement will be made until the commercial feasibility is validated, and further updates will be issued as evaluations progress.

Form Type: 10-Q

Filing Date: 2025-02-14

Corporate Action: Acquisition

Type: Update

Accession Number: 000164033425000255

Filing Summary: Xenous Holdings, Inc. reported its financial results for the quarter ended December 31, 2024, including a continued net loss of $14,894 for the three-month period, and a total net loss of $46,049 for the nine months ended December 31, 2024. The firm's accumulated deficit reached $1,196,015, representing a substantial decline in financial condition. As of December 31, 2024, the company did not generate any revenue and had a stockholders' deficit of $885,215. Total current liabilities increased compared to the previous year, largely due to advances from its majority shareholder, Smartex Investment Ltd., who owns 82% of the company. The report notes an ongoing acquisition process of a Malaysia-based agricultural firm, highlighting the completion of preliminary due diligence and the expectation of concluding further assessments in the first half of 2025. This acquisition aims to bolster the company's operational capabilities, particularly in agricultural trading and research. Legal proceedings and ongoing risks are addressed; however, the company continues to face significant doubt regarding its ability to continue as a going concern due to its accumulated losses and lack of operational revenue.