$GSUN

Golden Sun Technology Group Ltd.

CIK:0001826376|SEC Filings

Consolidated Statement of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenues	$ 35,479,712	$ 6,087,457	$ 2,592,989
Cost of revenues	34,677,937	5,097,893	1,314,935
Gross profit	801,775	989,564	1,278,054
Operating expenses:
Selling expenses	195,519	177,611	127,134
General and administrative expenses	2,706,230	2,551,717	4,454,706
Total operating expenses	2,901,749	2,729,328	4,581,840
Loss from operations	(2,099,974)	(1,739,764)	(3,303,786)
Other (expense) income:
Interest expense, net	(340,474)	(237,503)	(240,704)
Change in fair value of convertible note	(536,295)
Change in fair value of warrants liabilities	(7,387,121)
Gain from disposal of subsidiaries	4,572,160
Investment loss	(13,215)	(22,294)	(18,866)
Other (expense) income, net	(150,462)	(149,864)	958,673
Total other (expense) income, net	(3,855,407)	(409,661)	699,103
Loss before income taxes	(5,955,381)	(2,149,425)	(2,604,683)
Income taxes (benefit) provision	(3,554)	16,924	99,380
Net loss from continuing operation	(5,951,827)	(2,166,349)	(2,704,063)
Net income (loss) from discontinued operation	717,412	(1,802,503)	(3,075,991)
Net loss	(5,234,415)	(3,968,852)	(5,780,054)
Less: net (loss) income attributable to non-controlling interests	(147,085)	(262,686)	6,257
Net loss attributable to the Company	(5,087,330)	(3,706,166)	(5,786,311)
Other comprehensive loss
Foreign currency translation adjustments	728,157	3,958	(401,800)
Comprehensive loss	(4,506,258)	(3,964,894)	(6,181,854)
Less: comprehensive (loss) income attributable to non-controlling interests	(144,655)	(271,363)	7,530
Comprehensive loss attributable to the Company	(4,361,603)	(3,693,531)	(6,189,384)
Net (loss) income attributable to the Company
Continuing operation	(5,922,482)	(2,166,349)	(2,704,063)
Discontinued operation	835,152	(1,539,817)	(3,082,248)
Total	$ (5,087,330)	$ (3,706,166)	$ (5,786,311)
(Loss) income per share
Continuing operation (in Dollars per share)	$ (2.08)	$ (1.09)	$ (1.44)
Discontinued operation (in Dollars per share)	0.29	(0.78)	(1.64)
Total (in Dollars per share)	$ (1.79)	$ (1.87)	$ (3.08)
Weighted average number of shares outstanding
Basic (in Shares)	2,848,785	1,980,944	1,880,149
Diluted (in Shares)	2,848,785	1,980,944	1,880,149

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net loss	$ (5,234,415)	$ (3,968,852)	$ (5,780,054)
Less: Net income (loss) from discontinued operation	717,412	(1,802,503)	(3,075,991)
Net loss from continuing operation	(5,951,827)	(2,166,349)	(2,704,063)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	67,359	42,045	24,555
Loss on disposal of property and equipment	3,158
Investment loss	13,215	22,294	18,866
Gain from disposal of subsidiaries	(4,572,160)
Inventories written down	60,895
Deferred tax benefits	(3,554)
Share-based compensation			1,825,000
Allowance for credit losses	24,223		4,300
Change in fair value of convertible note	536,295
Change in fair value of warrants liabilities	7,387,121
Amortization of operating lease right-of-use assets	73,235	123,829	140,983
Changes in operating assets and liabilities:
Accounts receivable	(2,017,358)	(49,449)	20,870
Accounts receivable-related parties	8,319	15,269	39,698
Inventories	14,516	(76,500)
Prepayments and other assets	(7,056,753)	(2,080,914)	(27,359)
Contract assets	(33,622)
Accounts payable	2,581,783	276,742
Accrued expenses and other liabilities	(48,753)	271,847	(354,352)
Deferred revenue	1,665,606	1,380,137	(223,953)
Refund liabilities	(5,614)	(64,650)	26,043
Operating lease liabilities	(307,013)	(231,996)	(69,239)
Taxes payable	(65,628)	134,395	115,744
Net cash used in operating activities-continuing operation	(7,626,557)	(2,403,300)	(1,162,907)
Net cash used in operating activities-discontinued operation	(1,691,615)	(2,497,584)	(3,053,154)
Net cash used in operating activities	(9,318,172)	(4,900,884)	(4,216,061)
Cash flows from investing activities:
Net cash from disposal of subsidiaries	623,862
Long-term investments	(33,275)	(113,385)	(4,636,127)
Prepayment for acquisition	(415,945)	(1,726,878)	(3,725,943)
Purchase of property and equipment	(9,367)	(47,110)	(41,865)
Prepayment for intangible assets			(28,356)
Net cash provided by (used in) investing activities-continuing operation	165,275	(1,887,373)	(8,432,291)
Net cash used in investing activities-discontinued operation		(86,036)	(1,018,280)
Net cash provided by (used in) investing activities	165,275	(1,973,409)	(9,450,571)
Cash flows from financing activities:
Proceeds from convertible note and warrants	5,000,000
Proceeds from short-term bank loans	415,945		212,666
Repayment of short-term bank loans	(180,243)		(212,666)
Proceeds from long-term bank loans			7,570,924
Repayment of long-term bank loans			(7,307,218)
Proceeds from related parties	949,356	288,654	166,838
Proceeds from third party loans	290,485
Net cash provided by financing activities-continuing operation	6,475,543	288,654	430,544
Net cash provided by (used in) financing activities-discontinued operation	2,544,618	828,550	(183,743)
Net cash provided by financing activities	9,020,161	1,117,204	246,801
Effect of exchange rates changes on cash and cash equivalents	68,448	44,003	(374,962)
Net decrease in cash and cash equivalents	(64,288)	(5,713,086)	(13,794,793)
Cash and cash equivalents beginning of year	839,622	6,552,708	20,347,501
Cash and cash equivalents end of year	775,334	839,622	6,552,708
Supplemental cash flow disclosures:
Cash paid for income tax	3,322		2,035
Cash paid for interest	343,753	244,600	317,710
Non-cash activities
Operating lease right-of-use assets (extinguished) obtained in exchange for operating lease liabilities	(45,740)	(443,843)	1,133,375
Issuance shares for conversion of convertible note	3,648,844
Issuance shares for conversion of warrants	9,274,572
Reconciliation to amounts on consolidated balance sheets:
Cash and cash equivalents	775,334	737,020	5,638,174
Cash and cash equivalents included in current assets of discontinued operations		102,602	914,534
Total cash and cash equivalents shown in the statement of cash flows	$ 775,334	$ 839,622	$ 6,552,708

Consolidated Balance Sheets - USD ($)	Sep. 30, 2025	Sep. 30, 2024
CURRENT ASSETS:
Cash and cash equivalents	$ 775,334	$ 737,020
Accounts receivable, net	2,201,006	50,765
Contract assets	34,063
Inventories	73,861	78,535
Acquisition deposit		5,517,719
Prepayments and other current assets	9,647,889	2,376,081
Current assets of discontinued operations		1,592,955
TOTAL CURRENT ASSETS	12,732,153	10,353,075
NON-CURRENT ASSETS:
Property and equipment, net	1,629,185	110,397
Intangible assets, net	781,498	18,999
Long-term investments	4,565,808	4,617,863
Goodwill	3,958,834
Operating lease right-of-use assets, net	288,222	414,665
Prepayments and other non-current assets		64,451
Non-current assets of discontinued operations		1,504,019
TOTAL NON-CURRENT ASSETS	11,223,547	6,730,394
TOTAL ASSETS	23,955,700	17,083,469
CURRENT LIABILITIES:
Short-term bank loan	421,408
Long-term bank loans - current portion	182,610	1,567,487
Accounts payable	2,979,609	284,105
Deferred revenue	4,521,682	2,707,069
Refund liabilities	81,554	88,502
Operating lease liabilities-current	72,709	114,217
Taxes payable	1,318,237	1,423,924
Loan from a third party	188,914
Accrued expenses and liabilities	861,203	649,767
Current liabilities of discontinued operations		6,737,792
TOTAL CURRENT LIABILITIES	10,627,926	13,572,863
NON-CURRENT LIABILITIES:
Operating lease liabilities-non-current	185,078	261,512
Long-term bank loans	2,921,759	1,766,986
Long-term loan from a third party	103,121
Deferred tax liabilities	230,469
Non-current liabilities of discontinued operations		708,187
TOTAL NON-CURRENT LIABILITIES	4,499,245	3,099,235
TOTAL LIABILITIES	15,127,171	16,672,098
COMMITMENTS AND CONTINGENCIES (NOTE 19)
EQUITY:
Ordinary shares, value
Additional paid in capital	32,340,418	19,450,741
Statutory reserves	948,101	1,007,027
Accumulated deficit	(23,570,155)	(18,541,751)
Accumulated other comprehensive loss	(482,659)	(1,208,386)
TOTAL SHAREHOLDERS’ EQUITY	9,279,349	717,536
Non-controlling interests	(450,820)	(306,165)
TOTAL EQUITY	8,828,529	411,371
TOTAL LIABILITIES AND EQUITY	23,955,700	17,083,469
Class A Ordinary Shares
EQUITY:
Ordinary shares, value	41,629	7,890
Class B Ordinary Shares
EQUITY:
Ordinary shares, value	2,015	2,015
Related Party
NON-CURRENT LIABILITIES:
Due to a related party	$ 1,058,818	$ 362,550