Enigmatig Limited

What they do

Enigmatig Limited is a management consulting services company incorporated in the Cayman Islands with principal executive offices at 16 Raffles Quay, Hong Leong Building, Singapore. It files with the SEC as a foreign private issuer on Form 20-F and prepares its financial statements under U.S. GAAP. Its fiscal year ends September 30.

Revenue drivers

• Management consulting services — The company is classified under SIC code 8742 (Services-Management Consulting Services); it reported annual revenue of $4.5 million in fiscal 2025, $4.0 million in fiscal 2024 and $4.6 million in fiscal 2023.

Recent performance

Fiscal 2025 annual revenue was $4.5 million, up from $4.0 million in fiscal 2024 but below $4.6 million in fiscal 2023. Net income declined each year, from $1.1 million in fiscal 2023 to $821,192 in fiscal 2024 and $559,663 in fiscal 2025. Diluted EPS fell from $0.05 to $0.03 to $0.02 over the same three years. Operating cash flow was negative and worsening: -$58,677 in fiscal 2023, -$602,871 in fiscal 2024 and -$1.7 million in fiscal 2025. As of September 30, 2025, the company reported total assets of $18.2 million, total liabilities of $2.2 million, shareholder equity of $16.0 million and cash and equivalents of $13.2 million.

Strategy

The source filing excerpts provided describe the company's identity, fiscal-year conventions and reporting basis, but do not include detailed disclosure of the company's stated strategy, investments or priorities. The excerpts reference sections of the Form 20-F covering business and operating and financial review, but the content of those sections was not provided. On the financial evidence alone, the company has funded operations from a substantial cash balance while operating cash flow has turned increasingly negative. No forward-looking strategic commitments can be summarized from the supplied excerpts.

Risks

• Declining profitability — Net income fell from $1.1 million in fiscal 2023 to $559,663 in fiscal 2025, with diluted EPS falling from $0.05 to $0.02 over the same period.
• Negative and worsening operating cash flow — Operating cash flow went from -$58,677 in fiscal 2023 to -$1.7 million in fiscal 2025, meaning operations are consuming rather than generating cash.
• Revenue base is small and uneven — Annual revenue has moved between $4.0 million and $4.6 million across fiscal 2023-2025, providing little scale or demonstrated growth.
• Foreign private issuer and Cayman incorporation — The company is organized in the Cayman Islands with its principal executive offices in Singapore, and files as a foreign private issuer with no securities registered under Section 12(b) or 12(g) of the Exchange Act.

Outlook

The provided excerpts do not include management's outlook discussion; the operating and financial review section is referenced in the table of contents but its contents were not supplied. The most recent reported figures show revenue at $4.5 million, net income of $559,663 and operating cash flow of -$1.7 million for fiscal 2025. The company ended the period with $13.2 million of cash and equivalents against $2.2 million of liabilities.