SUN

What they do

SUN develops and produces immersive virtual reality experiences and related digital media content, including theatrical and dance-based VR. It also provides platform implementation and configuration, audiovisual production, advertising, promotional, and consulting services. The company was incorporated on September 5, 2024 and remains in an early stage of development.

Revenue drivers

• Advertising and promotional services — In fiscal 2025 the company recognized $50,000 under a Partnership and Advertising Agreement with MUY HOUSE, a related party, plus $3,333 under a related offset arrangement effective May 1, 2025; these were the largest revenue items of the $57,834 total.
• Marketing and consulting services — The company recognized $4,500 in fiscal 2025 from marketing and consulting services provided to another customer, a small share of annual revenue.
• Platform implementation and configuration — In the quarter ended July 31, 2026, $50,000 of revenue came from initial implementation and configuration services under a technology platform service agreement, with additional milestone-based and ongoing fees expected as performance obligations are satisfied.
• Audiovisual production services — Nine-month fiscal 2026 revenue of $69,537 was derived primarily from platform implementation and configuration, audiovisual production, advertising and promotion, and other consulting; audiovisual production carried $4,500 of direct editing and post-production cost of revenue.

Recent performance

For the nine months ended July 31, 2026, revenue was $69,537 versus $57,833 a year earlier, gross profit was $65,037, and net income was $19,063 versus $31,880. For the quarter ended July 31, 2026, revenue was $53,386 versus $3,333, with no cost of revenue, and net income was $31,258 versus a $4,153 loss. Fiscal 2025 revenue was $57,834 with net income of $3,888, compared to $17,475 of revenue and a $3,510 net loss in the September 5, 2024 to October 31, 2024 inception period. As of July 31, 2026, cash and cash equivalents were $63, total assets $192,307, total liabilities $158,889, and shareholder equity $33,418. Operating cash flow for fiscal 2025 was negative $46,401, while the nine months ended July 31, 2026 showed $10,507 provided by operating activities.

Strategy

Management says the company is focused on developing and producing immersive VR experiences and related digital media content while building operational infrastructure and intellectual property. It continues to develop theatrical and dance-based VR content with the objective of future revenue through licensing and distribution on digital platforms. It is also expanding service revenue through platform implementation and configuration, audiovisual production, advertising, promotion, and consulting. Management expects operating expenses to increase as it invests in proprietary VR content and bears public-company reporting costs. Funding has relied on related-party advances and loans, and as of July 31, 2026, long-term related-party advances totaled $38,886 with no short-term related-party advances outstanding.

Risks

• Development-stage and going concern — The company remains in the early stages of developing its core VR business and continues to be subject to going concern considerations.
• Related-party concentration — In fiscal 2025, $53,333 of $57,834 revenue came from MUY HOUSE-related arrangements, and the company relies on related-party advances and loans for working capital.
• Limited and possibly non-recurring revenue — Revenue has come from a small number of service arrangements, including a single $50,000 platform implementation contract in the July 2026 quarter, and is not directly tied to commercialization or licensing of the company's proprietary VR experiences.
• Minimal cash and restatement notice — Cash and cash equivalents were $63 as of July 31, 2026, and on November 17, 2025 the company disclosed that previously issued financials were not reliable.

Outlook

Management expects operating expenses to increase as the company invests in proprietary VR content and incurs additional public-company compliance costs. It states that fiscal 2025 net income does not necessarily indicate sustainable profitability. The technology platform service agreement signed in the July 2026 quarter provides for additional milestone-based and ongoing service fees as performance obligations are satisfied. The company says it continues to build operational infrastructure, develop intellectual property, and expand revenue-generating activities.