SOFTWARE AND TECHNOLOGY ASSET

3 Months Ended

Feb. 28, 2025

NOTE 4 – SOFTWARE AND TECHNOLOGY ASSET

As of February 28, 2025, and November 30, 2024, the Company had software and technology asset as follows:

	February 28,			November 30,
	2025			2024
Software and technology assets	$	3,371		$	3,371
Accumulated amortization		(348	)		-
	$	3,023		$	3,371

On August 25, 2024, the Company entered into a Software Purchase and Development agreement, pursuant to which the Company acquired an 8% interest in database software and related technology assets in exchange for 1,333,333 shares of common stock. The Company issued 1,333,333 shares of common stock on August 26, 2024, valued at $3,371. This asset represent asset with finite lives 5 years and are further amortized on a straight-line basis over the estimated economic useful lives of the respective assets. During the three months ended February 28, 2025, the Company recognized amortization expenses of $348. The Company did not earn revenue for three months ended February 28, 2025.

On May 7, 2025, the Company entered into a unwinding agreement with the owner of software and technology assets to terminate agreement dated August 25, 2024 (see Note 4 above). Upon the termination of the original agreement, neither party shall have any further obligations or liabilities under the original agreement, except as expressly provided in the unwinding agreement. The Company received irrevocable cancellation 1,333,333 shares of common stock on May 7, 2025 which were transferred back to the Company as treasury stock.

AMJ Global Technology 10-Q