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Proposed Symbol | EGG |
---|---|
Company Name | ENIGMATIG LTD |
Exchange | NYSE MKT |
Share Price | $5.00 |
Employees | 15 (as of 09/30/2024) |
Status | Priced |
Shares Offered | 2,845,200 |
Offer amount | $14,226,000 |
Shares Over Alloted | |
Company Address | 16 RAFFLES QUAY, #30-01, HONG LEONG BUILDING SINGAPORE 048581 |
Company Phone | (65) 6962 4600 |
Company Website | www.enigmatig.com |
CEO | Chee Weng Desmond Foo |
State of Inc | |
Fiscal Year End | 12-31 |
Total Offering Expense | $631,311.00 |
Shareholder Shares Offered | |
Shares Outstanding | 12,095,200 |
Lockup Period (days) | 180 |
Lockup Expiration | 2025-12-15 00:00:00 |
Quiet Period Expiration | 2025-07-28 00:00:00 |
CIK | 0001982961 |
DealId | 1330387-113454 |
We are an international consultancy firm providing one-stop cross-border licensing solutions and related services. Our services range from assisting clients incorporate companies in overseas jurisdictions and related corporate secretarial services to a wide range of licensing and regulatory maintenance services. Our corporate services income is mainly generated from fees we receive assisting our clients obtain, renew and comply with a range of business licenses (primarily including brokerage licenses and other financial licenses) in a variety of jurisdictions (primarily in London, Cyprus and Belize). In Fiscal 2022, Fiscal 2023 and Fiscal 2024, corporate services income from our licensing services, together with related regulatory consultancy services was US$2,386,085, US$3,201,761 and US$2,126,338, respectively, accounting for 84.6%, 69.5% and 53.6%, respectively, of our corporate services income for those periods. The remainder of our corporate services income is derived from a wide range of corporate secretarial and other related services we provide to our clients. In Fiscal 2022, Fiscal 2023 and Fiscal 2024, we recognized net profit of US$137,694, US$1,134,436 and US$821,192, respectively. We believe the broad range of services we are able to offer our clients in the form of one-stop solutions represents a key competitive advantage over our peer competitors. Our clients consist primarily of small and medium-sized corporations setting up contract for difference brokerage businesses, in particular foreign exchange brokerage businesses in overseas jurisdictions. We had 87 clients from nine distinct jurisdictions in Fiscal 2022, 60 clients from 17 distinct jurisdictions in Fiscal 2023 and 55 clients from 15 distinct jurisdictions in Fiscal 2024. We received a substantial portion of our corporate services income from a limited number of customers. For the years ended September 30, 2022, 2023 and 2024, corporate services income generated from our two largest customers accounted for approximately 46.3%, 54.7%, and 47.9%, respectively, of our total corporate services income. Most of our clients were headquartered in the Asian-Pacific region, primarily including Hong Kong, Malaysia, the UAE, Thailand and mainland China. We service our clients through four global offices located in Singapore, Hong Kong, Shanghai and London, and maintain a desk in Bangkok, Thailand. --- The principal executive offices of our operating subsidiaries are located at c/o 16 Raffles Quay, #30-01, Hong Leong Building, Singapore 048581. Our telephone number at this address is (65) 6022 0493. Our main website is www.enigmatig.com. Our registered office in the Cayman Islands is located at c/o Harneys Fiduciary (Cayman) Limited, 4th Floor, Harbour Place, 103 South Church Street, P.O. Box 10240, Grand Cayman KY1-1002. Our agent for service of process in the United States is Cogency Global Inc. located at 122 East 42nd Street, 18th Floor, New York, NY 10168.