Xenous Holdings, Inc.

What they do

The company has had no business operations since a 2017 name-change merger and currently only searches for potential assets, property, or businesses to acquire. It is deemed a vehicle to acquire or merge with a business and does not restrict its search to any particular industry. As of the 10-K it had not identified any prospective venture.

Revenue drivers

• None - no operating business — Total revenue has been $0.00 for every reported annual period (2015-2020); the company generates no revenue.
• Related-party financing — Operations are funded by advances from majority shareholder Smartex Investment, not by any product, segment, or customer revenue.

Recent performance

For the year ended March 31, 2025, Xenous reported a net loss of $64,456 versus $63,746 for the prior year, with operating expenses of $64,456 versus $63,746. Professional fees were $62,895 and $62,040 for those years. For the nine months ended December 31, 2025, the net loss was $46,505 versus $46,049; for the three months ended December 31, 2025, the net loss was $15,519 versus $14,894. Operating cash use was $63,637 in FY2025 and $46,565 in the nine months ended December 31, 2025, fully offset by related-party financing.

Strategy

The stated 12-month plan is to consider industries of interest, adopt a business plan for a selected industry, and commence operations through funding and/or the acquisition of a going-concern business. The company has not determined any industry or identified any prospective venture, so it cannot predict the amount or timing of any required financing. Foreseeable cash needs are only maintaining good standing and paying legal, accounting, and investigation expenses, which may be advanced by management or principal stockholders as loans. Any such loans are to be on terms no less favorable than an arm's-length commercial lender and are not required to be repaid as a condition of a future acquisition agreement.

Risks

• No operations or revenue — The company has had no business operations since August 14, 2017 and reported $0.00 revenue in every period shown.
• Working capital deficiency — Working capital deficit was $950,127 at December 31, 2025 versus $903,622 at March 31, 2025, with no current assets.
• Dependence on related-party funding — Net cash used in operating activities was fully funded by advances from majority shareholder Smartex Investment, including $63,637 in FY2025 and $46,565 in the first nine months of FY2026.
• Unidentified acquisition target — As of the 10-K the company had not identified any prospective venture, and any target must provide audited financial statements for at least the two most recent fiscal years, limiting candidates.

Outlook

Management states it will continue evaluating industries and seeking a going-concern acquisition or merger over the next 12 months. It expects its only cash requirements to be good-standing maintenance and professional and investigation costs, which may be funded by related-party loans. The company says it cannot predict when or if it will participate in any specific business endeavor.