Black Titan Corp Annual Report - How They Did This Year

This initial look at Black Titan Corp's annual filing provides important structural details about how the company operates.

Black Titan Corp's fiscal year runs from August 1st to July 31st.

A significant part of Black Titan Corp's business is channeled through TALENTEC SDN BHD. This entity is involved in:

• Maintenance services
• Implementation services
• SaaS (Software as a Service) subscription fees
• Licensing
• Other related services. This indicates a diverse set of offerings, likely in the tech or software space, with both ongoing service revenue (SaaS, Maintenance) and project-based income (Implementation, Licensing). Revenue is recognized both at a specific point in time and over a period, depending on the service.

The filing mentions customer concentration risk, meaning a few large customers (Customer A, B, C, D, and E) make up a significant portion of their sales and accounts receivable. This implies the company could be heavily impacted if one of these key customers were to leave or reduce their business.

The company also engages in transactions with related parties, which are typically individuals or entities closely connected to the company. Investors often monitor these to ensure fair dealings.

Black Titan Corp has credit facilities with banks including AmBank Berhad and Alliance Bank Malaysia Berhad, indicating the use of banking services and potential loans to support operations.

The annual filing includes standard financial reports such as the Balance Sheet, the Statement of Operations, and the Statement of Cash Flows. It also contains detailed notes on accounting policies, related party transactions, Accounts Receivable, Net, and a note about "Going concern."

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Key Takeaways:

Black Titan Corp operates on an August 1st to July 31st fiscal year. A core part of its business is conducted through TALENTEC SDN BHD, offering diverse services including SaaS, maintenance, implementation, and licensing. The company faces customer concentration risk with a few major clients and engages in related party transactions. It utilizes credit facilities from banks like AmBank Berhad and Alliance Bank Malaysia Berhad. The annual filing provides a comprehensive overview of its financial structure through standard reports and detailed notes.