Quarterly Report for Quarter Ending November 30, 2025 (Form 10-Q)

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

FORWARD LOOKING STATEMENTS

This report contains forward-looking statements that involve risk and uncertainties. We use words such as "anticipate", "believe", "plan", "expect", "future", "intend", and similar expressions to identify such forward-looking statements. Investors should be aware that all forward-looking statements contained within this filing are good faith estimates of management as of the date of this filing. Our actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks faced by us in this report.

DESCRIPTION OF BUSINESS

Our company was established as a Wyoming corporation on May 19, 2023. As a developmental-stage enterprise, our primary focus is on offering IT consulting services and software development solutions. Our web site is https://londaxcorp.com/. Currently, we have developed and implemented our flagship product https://londax.ai/, which comprises a Customer Relationship Management (CRM) System, Applicant Tracking Systems (ATS), and out-staffing services.

Our principal executive office is located at Yiangou Potamiti 27, Limassol, Cyprus 3010. Our phone number is +371 29591676.

Our company develop and implement a customized Customer Relationship Management (CRM) System that facilitates out-staffing for our future clients. Our software is designed to seamlessly integrate into our clients' corporate structure, enabling them to hire and manage their staff, including top managers and IT specialists, with ease.

We are intending to operate in Europe with potential for working worldwide. From a technical perspective, londax.ai is a web application consisting of Frontend and Backend components hosted on cloud services provided by AWS. Londax.ai CRM system is developed for analyzing and monitoring the recruitment process using a funnel (hiring stages) and analyzing the KPIs of the already hired personnel. Currently, our main dashboard consists of: 1) Segment for Recruitment: funnel, creating job postings (manual \ AI) and portal for applicants.2) Segment for; Employees: Profile, password and personal data change and Help.

For the Artificial Intelligence functionality (advertisement generation), the OpenAI API is used.

Revenue

Our possible revenue streams are following:

	1.	Subscription-Based Revenue Model: This revenue stream involves charging clients a monthly or annual fee for access to our CRM system. We can offer various rate plans, enabling clients to choose a subscription that best suits their needs and budget.
	2.	Customization Services: We can charge clients on a project basis for customization services. This revenue stream involves working closely with clients to develop customized solutions that meet their specific needs and objectives.
	3.	Data Migration Services: We can partner with data management companies to offer data migration services to clients who need to transfer their data from their existing system to our CRM system. This revenue stream involves charging clients a fee for data migration services.
	4.	Training and Consulting Services: We can offer training and consulting services to help clients get the most out of our CRM system. This revenue stream involves charging clients a fee for training and consulting services.
	5.	Integration Services: We can offer integration services to enable clients to integrate our CRM system with other software solutions. This revenue stream involves charging clients a fee for integration services.
	6.	Maintenance and Support Services: We can offer maintenance and support services to ensure that our clients' CRM system is functioning properly and to provide technical support as needed. This revenue stream involves charging clients a fee for maintenance and support services.
	7.	Upgrades and Add-Ons: We can offer upgrades and add-ons to our CRM system to provide additional functionality or to keep up with changing technologies. This revenue stream involves charging clients a fee for upgrades and add-ons.

Marketing and Competition

Our business is focused on the online market, and we intend to utilize various online marketing tools to promote our services effectively. To reach our potential clients, we plan to employ banners, flags, and video advertisements on popular social media platforms such as Facebook, Twitter, Instagram, and YouTube. We will present our services in an organized web catalog that can be easily accessed through our website and mobile application. Our catalog will be categorized and tagged to facilitate user-friendliness.

We intend to leverage context advertising tools such as Google AdWords, Yahoo!, and similar tools provided by AOL and Facebook to attract customer attention. Additionally, we will utilize SEO (Search Engine Optimization) to ensure that our application and web platform appear at the top of search queries related to our services.

We will participate in advertising conventions, workshops, presentations, and similar events to promote our application and services. We will also advertise our services in printed and electronic issues of magazines, commercial web communities, and communities of advertising professionals.

To further enhance our promotional activities, we will establish our social media pages on popular platforms such as Facebook, Twitter, and Instagram. We plan to demonstrate how our product works and performs on these platforms to increase customer engagement. We will also use WhatsApp accounts to post up-to-date information and create discussion channels with our customers and interested individuals. We believe that instant messaging platforms like WhatsApp, Telegram, and others will help us react and interact with our customers more efficiently.

Our company has designed our services to cater to small to midsize business entities, with the flexibility to adjust and accommodate their evolving needs as they grow.

We operate in a highly competitive industry, our strategy focuses on the following aspects:

	1.	Our officers and directors have professional management and marketing experience and a vast network.
	2.	Our customized approach aligns with the values, mission, and market needs of our clients.
	3.	We continuously analyze contemporary social media trends without interruption.
	4.	We utilize AI, data science, and data analysis to increase efficiency and productivity.

Despite the presence of numerous competitors in the market, our advantages include a focus on small and medium-sized businesses, as well as a willingness to work with larger companies. We prioritize customization and tailor our products and solutions to meet our clients' unique needs, while also providing maximum integration on their behalf.

Employees; Identification of Certain Significant Employees.

We have no employees other than our president, who currently devotes approximately twenty hours per week to company matters.

Government Regulation

Our principal office is located in Cyprus and we are intending to operate in EU (European Union). We are might be subject of following EU governmental regulations:

GDPR governs the processing of personal data in the European Union (EU). Our Company must ensure that we comply with GDPR when collecting, storing, and processing personal data through their software products.

Consumer Protection Laws. This EU directive establishes rules for online and distance sales, including software. It covers issues such as the right of withdrawal, warranties, and dispute resolution.

Copyright Law: Software is subject to copyright protection in most European countries. Our Company must respect the intellectual property rights of others and enforce their own software copyrights.

Export Control Regulations: If our software includes encryption technology or has other export-controlled components, we may need to comply with EU and national export control regulations.

E-Commerce Directive: This directive addresses various legal aspects of e-commerce, including electronic contracts, electronic signatures, and liability of online service providers.

Antitrust and Competition Laws: Our Company must comply with EU and national competition laws, which can affect software pricing, distribution, and licensing practices.

VAT (Value Added Tax): VAT rules can vary from country to country within the EU, and they may apply to the sale of our software products.

Contract Law: Software sales often involve licensing agreements and contracts. Company should ensure that our contracts comply with applicable contract laws and are enforceable.

Network and Information Security Directive (NIS Directive): This directive imposes cybersecurity requirements on operators of essential services and digital service providers.

Sanctions and Embargoes: Depending on the nature of our software and its use cases, we may need to be aware of EU sanctions and embargoes that restrict the sale or export of certain software products to specific countries.

Offices

Our business office is located at Yiangou Potamiti 27, Limassol, Cyprus 3010. This address was provided by our president, Mr. Pavlovs. Our telephone number is +371 29591676.

LEGAL PROCEEDINGS

During the past ten years, none of the following occurred with respect to the President of the Company: (1) any bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time; (2) any conviction in a criminal proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offenses); (3) being subject to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of any competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities; and (4) being found by a court of competent jurisdiction (in a civil action), the SEC or the commodities futures trading commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended or vacated.

We are not currently a party to any legal proceedings, and we are not aware of any pending or potential legal actions.

RESULTS OF OPERATIONS

Results of Operations for the three months ended November 30, 2025 and 2024:

Revenue

For the three months ended November 30, 2025 and 2024, the Company generated total revenue of $8,405 and $27,537, respectively, from providing services to its customers. Revenue decreased by approximately $19,132, or 69%, for the three months ended November 30, 2025, compared to the same period in 2024. The decrease was mainly due to a shift in the Company's revenue model. In the current period, revenue was recognized from an annual subscription service, which recognizes revenue ratably over the subscription term. In contrast, revenue for the same period in the prior year was derived from a one-time service, which was recognized fully at the time of sale. This change resulted in lower revenue recognition in the current period despite ongoing service delivery.

Cost of sales

Cost of sales for the three months ended November 30, 2025 and 2024 was $0 and $9,000, respectively.

Operating expenses

Total operating expenses for the three months ended November 30, 2025 were $36,999 ($6,084 for the three months ended November 30, 2024) consisting of amortization and depreciation expense of $6,258 ($2,741 for the three months ended November 30, 2024); general and administrative expenses of $82 ($1,065 for the three months ended November 30, 2024); professional fees of $30,659 ($2,278 for the three months ended November 30, 2024). Operating expenses increased by approximately $30,915, or 508%, for the three months ended November 30, 2025 as compared to the same period of 2024. The increase in total operating expenses was primarily driven by higher professional fees and amortization and depreciation expenses.

Other Expenses

The total other income for the three months ended November 30, 2025 and 2024 were $152 and $0, respectively. Other income included foreign exchange gain.

Net Income (Losses)

The company recorded a net loss of $28,442 for the three months ended November 30, 2025, and a net income of $12,453 for the three months ended November 30, 2024. As a result of the factors described above, net loss for the three months ended November 30, 2025 increased by approximately $40,895, or 328%, as compared for the same period for 2024.

Results of Operations for the six months ended November 30, 2025 and 2024:

Revenue

For the six months ended November 30, 2025 and 2024, the Company generated total revenue of $11,513 and $53,245, respectively, from providing services to its customers. Revenue decreased by approximately $41,732, or 78%, for the six months ended November 30, 2025, compared to the same period in 2024. The decrease was mainly due to a shift in the Company's revenue model. In the current period, revenue was recognized from an annual subscription service, which recognizes revenue ratably over the subscription term. In contrast, revenue for the same period in the prior year was derived from a one-time service, which was recognized fully at the time of sale. This change resulted in lower revenue recognition in the current period despite ongoing service delivery.

Cost of sales

Cost of sales for the six months ended November 30, 2025 and 2024 was $0 and $9,000, respectively.

Operating expenses

Total operating expenses for the six months ended November 30, 2025 were $51,847 ($21,495 for the six months ended November 30, 2024) consisting of amortization and depreciation expense of $12,515 ($3,079 for the six months ended November 30, 2024); general and administrative expenses of $233 ($5,692 for the six months ended November 30, 2024); professional fees of $39,099 ($12,724 for the six months ended November 30, 2024). Operating expenses increased by approximately $30,352, or 141%, for the six months ended November 30, 2025 as compared to the same period of 2024. The increase in total operating expenses was primarily driven by higher professional fees and amortization and depreciation expenses.

Other Expenses

The total other expenses for the six months ended November 30, 2025 and 2024 were $51 and $0, respectively. Other expenses included foreign exchange loss.

Net Income (Losses)

The company recorded a net loss of $40,385 for the six months ended November 30, 2025, and a net income of $22,750 for the six months ended November 30, 2024. As a result of the factors described above, net loss for the six months ended November 30, 2025 increased by approximately $63,135, or 278%, as compared for the same period for 2024.

LIQUIDITY AND CAPITAL RESOURCES

As of November 30, 2025, the Company had $13,951 in cash and our liabilities were $81,553, comprising $39,143 in accounts payable, $22,109 in deferred income and $20,301 owed to Olegs Pavlovs, our president.

As of May 31, 2025, the Company had $10,606 in cash and our liabilities were $55,653, comprising $51,372 in accounts payable and $4,281 owed to Olegs Pavlovs, our president.

Since inception, we have sold 5,231,135 shares of common stock to our president and shareholders. On July 31, 2025, Olegs Pavlovs, president of the Company, decided to cancel 3,000,000 of his restricted shares.

Cash Flows from Operating Activities

Net cash used in operating activities was $12,675 for the six months ended November 30, 2025, compared with $49,895 used in operating activities during the six months ended November 30, 2024.

During the six months ended November 30, 2025, the net cash of $12,675 used in operating activities was attributed to net loss of $40,385; decreased by amortization and depreciation expense of $12,515; prepaid expenses of $5,315; accounts payable of $12,229; and increased by deferred income of $22,109.

During the six months ended November 30, 2024, the net cash of $49,895 used in operating activities was attributed to net income of $22,750; decreased by amortization and depreciation expense of $3,079; accounts receivable of $9,604; software in development of $15,815; and accounts payable of $17,855.

Cash Flows from Investing Activities

For the six months ended November 30, 2025, net cash flows provided by or used in investing activities was $0.

For the six months ended November 30, 2024, net cash flows provided by or used in investing activities was $36,528, which was attributable to the capitalization of the development of intangible assets.

Cash Flows from Financing Activities

For the six months ended November 30, 2025, net cash flows provided by financing activities was $16,020, was attributable to net advances received from related parties.

For the six months ended November 30, 2024, net cash flows provided by financing activities was $14,512, which was attributable to the repayment of notes payable.

MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this report. Some of the information contained in this discussion and analysis or set forth elsewhere in this report, including information with respect to our plans and strategy for our business and related financing, includes forward-looking statements that involve risks and uncertainties.

We qualify as an "emerging growth company" under the JOBS Act. As a result, we are permitted to, and intend to, rely on exemptions from certain disclosure requirements. For so long as we are an emerging growth company, we will not be required to:

·	have an auditor report on our internal controls over financial reporting pursuant to Section 404(b) of the Sarbanes-Oxley Act;
·	provide an auditor attestation with respect to management's report on the effectiveness of our internal controls over financial reporting;
·	comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor's report providing additional information about the audit and the financial statements (i.e., an auditor discussion and analysis);
·	submit certain executive compensation matters to shareholder advisory votes, such as "say-on-pay" and "say-on-frequency";
·	disclose certain executive compensation related items such as the correlation between executive compensation and performance and comparisons of the CEO's compensation to median employee compensation.

In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

We will remain an "emerging growth company" for up to five years, or until the earliest of (i) the last day of the first fiscal year in which our total annual gross revenues is $1 billion, (ii) the date that we become a "large accelerated filer"as defined in Rule 12b-2 under the Securities Exchange Act of 1934, which would occur if the market value of our ordinary shares that is held by non-affiliates is $700 million as of the last business day of our most recently completed second fiscal quarter or (iii) the date on which we have issued more than $1 billion in non-convertible debt during the preceding three year period.

As of the date of these financial statements, the current funds available to the Company should be sufficient to continue maintaining our reporting status for a minimum period of 12 months from the date of this statement or until we raise funds from this offering, whichever occurs earlier.

In case our short-term expenses exceed our expectations, the company's president, Olegs Pavlovs, has indicated that he may be willing to provide funds required to maintain the reporting status in the form of a non-secured loan until minimum required proceeds are obtained by the Company. However, there is no contract in place or written agreement securing this agreement. We believe that we will obtain this loan from our president as he is the majority owner of the company and therefore has an incentive to finance us.

OFF-BALANCE SHEET ARRANGEMENTS

We have no off-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.

LIMITED OPERATING HISTORY; NEED FOR ADDITIONAL CAPITAL

There is no historical financial information about us upon which to base an evaluation of our performance. We are in start-up stage operations and have not generated sufficient revenues. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources and possible cost overruns due to price and cost increases in services and products.

We have no assurance that future financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue, develop or expand our operations. Equity financing could result in additional dilution to existing shareholders.