Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.21.4
SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Sep. 30, 2021
SIGNIFICANT ACCOUNTING POLICIES  
Schedule of ownership interests

    

Registered

    

    

Ownership as of the

Entity Name

Location

Background

issuance date of the report

ZK

 

BVI

 

• Incorporated on May 13, 2015

 

International

 

• Registered capital of USD 50,000, not paid

 

16.82% by HUANG Jian Cong

 

• A holding company with no operation activities itself for the years then ended

 

6.22% by WANG Guo Lin

ZK Pipe

 

Hong Kong

 

• Incorporated on May 28, 2015

 

 

• Registered capital of HKD 1,000,000, not paid

100% by ZK International

 

• Have not commenced operations

Wenzhou Weijia

 

Wenzhou

 

• Incorporated on June 17, 2015

 

 

• Registered capital of USD 20,000,000, not paid

100% by ZK Pipe

 

• Have not commenced operations

Zhejiang Zhengkang

 

Wenzhou

 

• Incorporated on December 4, 2001

 

99% by Wenzhou Weijia

 

• Registered capital of RMB 100,000,000, RMB 30,000,000 paid

 

1% by HUANG Jian Cong

 

• Principally operated in manufacturing and sales of steel strip, steel pipe and fittings

Wenzhou Zhengfeng

 

Wenzhou

 

• Incorporated on December 24, 1999

 

 

• Registered capital of RMB 2,880,000, fully paid

100% by Zhejiang Zhengkang

 

• Principally operated in trading of steel strip, mainly purchased from Zhejiang Zhengkang

ZK Uganda

 

Uganda

 

• Incorporated on March 23, 2018

 

 

• Registered capital of 20 Million Uganda Shillings, not paid.

80% by ZK International

 

• Have not commenced operations

xSigma Corporation

 

BVI

 

• Incorporated on January 18, 2018

 

• Registered capital of USD 50,000, not paid

51% by ZK International

• Have not commenced operations

xSigma Collectibles Limited

 

BVI

 

• Incorporated on July 6, 2021

 

• Registered capital of USD 100, not paid

100% by ZK International

• Principally operated in NFT (Non-Fungible Token) marketplace

xSigma Entertainment Limited

 

BVI

 

• Incorporated on March 17, 2021

 

• Registered capital of USD 50,000, not paid

100% by ZK International

• A holding company that holds ownership in CG Malta, a sports betting and casino operator

xSigma Trading LLC

Daleware, United States

• Incorporated on June 7, 2021

100% by xSigma Corporation

• Registered capital and paid in capital was zero

• Have not commenced operations

Schedule of relevant exchange rates

For the Fiscal Years

Ended September 30

    

2021

    

2020

    

2019

Period Ended RMB: USD exchange rate

 

6.4434

 

6.7896

 

7.1477

Period Average RMB: USD exchange rate

 

6.5072

 

7.0056

 

6.8753

Schedule of property, plant and equipment, useful lives

    

Useful lives

Buildings

 

40 years

Machinery

 

10 years

Furniture, fixtures, and equipment

 

10 years

Motor vehicles

 

10 years

Schedule of intangible assets, useful lives

    

Useful lives

Land use rights

 

46 years

Software

 

5 years