Recent Updates — POAS

AssentSure PAC included a going-concern explanatory paragraph in its audit report for the fiscal year ended April 30, 2026, citing substantial doubt regarding Phaos Technology Holdings' ability to continue operating. Management identified no immediate liquidation risk and outlined mitigation plans involving debt and equity financing, product-sale cash flows, and potential shareholder support, though these do not guarantee resolution of the uncertainty. The company is a Singapore-headquartered firm with roots in advanced microscopy technology pursuing strategic repositioning toward engineering, procurement and construction.

Phaos Technology Holdings reported fiscal year 2026 revenue of S$132,077, down from S$167,707 in the prior year due to delayed customer orders. Service revenue rose 59.3% to S$10,845, while cash and equivalents surged to S$762,234. Total shareholders' equity improved to S$5.30 million from a deficit of S$1.96 million. The company expects significant momentum in the six months ended October 2026. Phaos Technology Holdings is an advanced microscopy technology company.

Phaos Technology Holdings approved a one-for-fifteen reverse stock split of its Class A and Class B ordinary shares, reducing outstanding Class A shares from approximately 16.4 million to roughly 1.09 million and Class B shares from approximately 15.1 million to roughly 1.0 million. The transaction increases the par value to $0.0015 per share and reduces authorized shares to 6.67 trillion, with trading resuming on a post-split basis under symbol POAS on October 12, 2026. This company operates in the advanced microscopy technology sector.

Phaos Technology Holdings (Cayman) Ltd entered into a Securities Purchase Agreement with High West Partners LLC on September 28, 2026. The agreement grants the Company the right to sell Class A ordinary shares to the Investor up to an initial commitment amount of $10,000,000. Additionally, the Company issued Commitment Shares valued at $100,000 as a fee. Purchases are subject to volume limitations and pricing mechanisms based on VWAP or average closing prices. Concurrently, the parties executed a Registration Rights Agreement requiring the filing of a Form F-1 registration statement within 30 days for resale of the shares. Phaos Technology Holdings operates in the technology sector.

Phaos Technology Holdings approved several corporate actions at its Extraordinary General Meeting on August 31, 2026. Shareholders authorized an increase in authorized share capital to US$10 billion and a forward stock split consolidating every fifteen pre-consolidation ordinary shares into one new ordinary share with a par value of US$0.0015. The company also adopted amended articles of association and approved the issuance of 2,900,000 Pre-Consolidation Class B Ordinary Shares to director Gan Hong Loon. Phaos Technology Holdings operates in the advanced microscopy technology industry.