Treasure Global Inc. Modifies Software Deal; $500K Shares Issued

What Happened

• On September 24, 2026, Treasure Global Inc. (TGL) filed an 8-K disclosing a Supplemental Agreement with Mestiz Technology Sdn Bhd that amends the September 11, 2026 Software Development Agreement.
• The parties reduced the total service fees from $2,000,000 to $1,000,000 and narrowed the scope to design, develop, integrate and implement a centralized Microsoft Power BI business intelligence solution across three business environments (lifestyle membership & retail; loyalty & digital ecosystem; digital wallet & fintech).
• TGL already issued shares valued at $500,000 to Mestiz Tech in full satisfaction of Milestone 1; the remaining $500,000 is payable in two milestones tied to Phase 2 and Phase 3 mobilisation.

Key Details

• Supplemental Agreement date: September 24, 2026; Original Agreement date: September 11, 2026.
• Revised total Service Fees: $1,000,000 (reduced from $2,000,000).
• Shares issued: TGL Shares with aggregate value $500,000 credited against the revised fees (Item 3.02: unregistered sale of equity securities).
• Remaining payments: $250,000 on mobilisation of Phase 2 and $250,000 on mobilisation of Phase 3; payment may be made in cash, TGL common stock, or a combination, at the company’s discretion.
• Governing law: Malaysia.

Why It Matters

• The amendment reduces TGL’s contracted development cost by half and recognizes a $500,000 share-based payment already made, lowering near-term cash outflow related to this project.
• Investors should note potential future dilution because the company may satisfy remaining milestone payments with common stock instead of cash.
• Progress and timing of Phase 2 and Phase 3 mobilisations will determine when further cash or shares may be issued and how quickly the company realizes the intended BI integration across its businesses.