Xenous Holdings Reports $64,456 Net Loss and Evaluates Acquisition of Dadvance Agarwood

Xenous Holdings, Inc. reported a net loss of $64,456 for the fiscal year ending March 31, 2025, a slight increase from the previous year's loss of $63,746. The company's operating expenses rose marginally to $64,456 from $63,746, primarily due to increased professional fees, which amounted to $62,895 compared to $62,040 in the prior year. As of March 31, 2025, Xenous had no assets and total liabilities of $903,622, up from $839,166 in the previous year, resulting in a working capital deficiency of $903,622, compared to $839,166 in 2024.

The company has not engaged in any business operations since its merger in 2017 and is currently focused on identifying potential acquisition targets. Xenous has been evaluating the acquisition of Dadvance Agarwood Alpha Sdn Bhd, a Malaysia-based company involved in the agarwood industry. Although initial negotiations were unsuccessful, the company has maintained an active evaluation process and entered into a non-binding term sheet with Dadvance to facilitate further due diligence. Key developments for Dadvance include market penetration in Europe and the Gulf Arab markets, certification of its agarwood oil as A+ grade, and plans for scaling production capacity.

Xenous Holdings has no employees and relies on advances from its majority shareholder, Smartex Investment Ltd., for operational funding. The company received $63,637 in advances during the fiscal year, compared to $54,627 in the previous year. As of March 31, 2025, the total amount due to Smartex was $879,718. The company has not generated any revenue since its inception and continues to face substantial doubt regarding its ability to continue as a going concern, as highlighted by its independent auditors.

Looking ahead, Xenous plans to continue its search for acquisition opportunities across various industries without restricting itself to any specific sector. The company aims to validate the commercial viability of potential targets before finalizing any agreements. Management has indicated that the ability to secure additional financing will be crucial for the company's future operations and growth. The company will provide updates on its evaluation of Dadvance and any other significant developments as they arise.