Summit Networks (SNTW) 10-K23 Dec 242024 FY Annual reportFinancial data

Company Profile

Cover

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--09-30
Entity File Number	333-199108
Entity Registrant Name	Summit Networks, Inc.
Entity Central Index Key	0001619096
Entity Tax Identification Number	35-2511257
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	3010-8888 Odlin Cresent
Entity Address, City or Town	Richmond
Entity Address, State or Province	BC
Entity Address, Country	CA
Entity Address, Postal Zip Code	V6X 3Z8
City Area Code	604
Local Phone Number	232-3968
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Public Float		$ 13,395,460
Entity Common Stock, Shares Outstanding	88,711,657
Documents Incorporated by Reference [Text Block]	List hereunder the following documents if incorporated by reference and the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document is incorporated: (1) any annual report to security holders; (2) any proxy or information statement; and (3) any prospectus filed pursuant to Rule 424(b) or (c) of the Securities Act of 1933. The listed documents should be clearly described for identification purposes (e.g., annual report to security holders for fiscal year ended December 24, 1980). Not Applicable
ICFR Auditor Attestation Flag	false
Auditor Name	Assentsure PAC
Auditor Location	Singapore
Auditor Firm ID	6783

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Current Assets:
Cash & cash equivalents	$ 46,326	$ 149,614
Deposits	2,602,218	2,218
Prepayments	31,252	12,545
Total Current Assets	2,679,796	164,377
Non-Current Asset:
Plant & equipment, net
Total Non-Current Asset
TOTAL ASSETS	2,679,796	164,377
Current Liabilities:
Accounts payable and accrued expenses	13,416	123,847
Accounts payable - related parties
Due to related parties	579,000	579,000
Total Current Liabilities	592,416	702,847
Commitments and Contingencies
Stockholders’ Equity (Deficit):
Preferred stock, $0.001 par value, 10,000,000 shares authorized; 0 share issued and outstanding
Common stock, $0.001 par value, 500,000,000 shares authorized; 88,711,657 and 67,139,990 issued and outstanding as of September 30, 2024 and 2023, respectively.	88,712	67,140
Additional paid-in capital	3,409,295	588,867
Accumulated deficit	(1,410,627)	(1,194,477)
Total Stockholders’ Equity/ (Deficit)	2,087,380	(538,470)
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY	$ 2,679,796	$ 164,377

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2024	Sep. 30, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	88,711,657	67,139,990
Common stock, shares outstanding	88,711,657	67,139,990

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue
Operating Expenses:
General and administrative expenses	230,550	165,362
Loss from operations	(230,550)	(165,362)
Other Income(expenses):
Rental income		1,250
Interest income	1,900	1,900
Miscellaneous income		3,324
Gain on debt forgiveness		182,666
Reversal of over-accrued salary	12,500
Net (Loss) Income	$ (216,150)	$ 23,778
Basic Net Income (loss) per share	$ 0	$ 0
Diluted Net Income (loss) per share	$ 0	$ 0
Basic weighted average number of common shares outstanding	88,711,657	67,139,990
Diluted weighted average number of common shares outstanding	88,711,657	67,139,990

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Sep. 30, 2022	$ 62,050	$ 393,867	$ (1,218,255)	$ (762,338)
Beginning balance, shares at Sep. 30, 2022	62,049,990
Net loss			23,778	23,778
Issuance of new shares	$ 5,090	195,000		200,090
Issuance of new shares, shares	5,090,000
Ending balance, value at Sep. 30, 2023	$ 67,140	588,867	(1,194,477)	(538,470)
Ending balance, shares at Sep. 30, 2023	67,139,990
Net loss			(216,150)	(216,150)
Issuance of new shares	$ 21,572	2,820,428		2,842,000
Issuance of new shares, shares	21,571,667
Ending balance, value at Sep. 30, 2024	$ 88,712	$ 3,409,295	$ (1,410,627)	$ 2,087,380
Ending balance, shares at Sep. 30, 2024	88,711,657

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss)/income	$ (216,150)	$ 23,778
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on debt forgiveness		(182,666)
Changes in operating assets and liabilities:
Prepayments	(18,707)	(12,545)
Deposits		(2,218)
Accounts payable and accrued expenses	(110,431)	114,346
Net cash used in operating activities	(345,288)	(59,305)
CASH FLOWS FROM FINANCING ACTIVITY:
Proceed from share issuance	242,000	200,090
Net cash generated from financing activity	242,000	200,090
Net (decrease)/increase in cash and cash equivalents	(103,288)	140,785
Cash and cash equivalents at beginning of year	149,614	8,829
Cash and cash equivalents at end of year	46,326	149,614
Cash paid during the period for:
Interest
Income Taxes

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	12 Months Ended
Pay vs Performance Disclosure - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (216,150)	$ 23,778

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual [Table]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	12 Months Ended
ORGANIZATION AND DESCRIPTION OF BUSINESS	Sep. 30, 2024
Accounting Policies [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS Summit Networks Inc. (together with its subsidiary, the “Company”) was incorporated under the laws of the State of Nevada July 8, 2014 On May 8, 2020, Sumnet (Canada) Inc. (“Sumnet (Canada)”) was incorporated in Canada. Sumnet (Canada) issued all its ordinary shares to the Company on May 8, 2020, so that Sumnet (Canada) became the wholly owned subsidiary of Company. On July 29, 2020, Smith Barney Enterprises Limited (“Smith Barney”) was incorporated in the British Virgin Islands. Smith Barney issued all its ordinary shares to the Company on July 29, 2020, so that Smith Barney became the wholly owned subsidiary of Company. On August 28, 2020, Green Energy (HK) Limited (“Green Energy”) was incorporated in Hong Kong. Green Energy issued all its ordinary shares to Smith Barney on August 28, 2020 so that Green Energy became the wholly owned subsidiary of Smith Barney. On September 27, 2020, Beijing Asian League Wins Technology Co., Ltd. (“Beijing ALW”) was incorporated in People’s Republic of China. Green Energy subscribed all capital stock of Beijing ALW on September 27, 2020 so that Beijing ALW became the wholly owned subsidiary of Green Energy. On January 20, 2021, Beijing ALW and Green Energy entered into a series of contractual agreements (the “VIE Agreement”) with Hengshui Jingzhen Environmental Company Limited (“Hengshui Jingzhen”, or the “VIE”), whereby Beijing ALW gained control over Hengshui Jingzhen, a P.R. China company, which provides integrated hazardous waste management services, including collecting, transferring, disposing, and recycling of hazardous waste, primarily in Hebei, China. On March 29, 2021, the board of directors and a majority shareholder of the Company approved the termination of the VIE Agreements with Hengshui Jingzhen. On the same date, Beijing ALW, Hengshui Jingzhen, and Hengshui Jingzhen’s shareholders entered into a Termination Agreement (the “Termination Agreement”) to terminate all existing VIE Agreements signed on January 20, 2021. Pursuant to the Termination Agreement, all of the rights and obligations under the existing VIE Agreements were terminated and the Company no longer had control of Hengshui Jingzhen. See NOTE 4. EXECUTION AND TERMINATION OF VIE AGREEMENTS. On July 17, 2019, the Company received FINRA approval to effect a 10-for-1 stock dividend to holders of its common stock as of June 1, 2019, the record date for the dividend. As a result, common stock figures, share capital, additional paid in capital, and earnings per share information have been retroactively adjusted to reflect the stock dividend. On January 20, 2021, the Company changed its fiscal year-end from July 31 to September 30. On November 30, 2022, the Company and Future Era Tech (“FET”) signed a master agreement for cooperation. FET purchased 5,000,000 shares for $0.04 and acquired the independent management rights and management rights of the company’s subsidiary, SUMNET. FET mainly operates clean energy methanol flameless boilers, as well as the research and development and sales of automated production lines. By December 29, the $200,000 investment had been fully credited to the transaction. The first trial order has also been executed by December 29, 2022. On April 13, 2023, the Company issued 90,000 0.001 On October 2, 2023, the company issued 666,667 0.15 100,000 On March 27, 2024, the company issued 625,000 100,000 On April 8, 2024 Summit Networks, Inc. (“SNTW”) entered into a stock purchase agreement with the shareholders of 1103001 B.C. Ltd., dba St. Mega Enterprises, a Canadian corporation, located in British Columbia Canada , (“Mega”). The transaction was consummated on May 31, 2024 and SNTW acquired all the outstanding common stock of Mega. Due to this transaction, Mega has become a wholly owned subsidiary of SNTW. The shareholders of Mega received 20,000,000 On October 16 th On December 12 th On April 9, 2024, the company issued 200,000 0.13 26,000 On July 13, 2024, the company issued 30,000 0.20 50,000 0.20 On September 30, 2024, the Company changed its fiscal year-end from September 30 to December 31.

GOING CONCERN

GOING CONCERN	12 Months Ended
GOING CONCERN	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 2. GOING CONCERN The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company had limited operations during the period from July 8, 2014 (date of inception) to September 30, 2024, resulting in accumulated deficit of $ 1,410,627 At September 30, 2024, the Company had a working capital surplus of $ 2,087,380 The ability of the Company to continue as a going concern is dependent on the undertaking of its shareholders to provide continuing financial support to enable the Company to meet its liabilities as and when they fall due. The Company actively looks for new business opportunities, and its operating expenses are solely relied on loans from the shareholders.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Consolidation The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (GAAP). Use of Estimates The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents are on deposit with financial institutions without any restrictions. As of September 30, 2024 and 2023, cash equivalents amounted to $ 46,326 149,614 Plant and Equipment, net Plant and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the related capitalized assets. Related Parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Companies are also considered to be related if they are subject to common control or common significant influence. Deferred Tax The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Accounting for Income Taxes”. The asset and liability method provide that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. Net Loss Per Share The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income per share is computed by dividing the net income by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. Income Tax ASC 740 provides guidance for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. If the Company determines that an uncertain tax position exists in which the Company could incur income taxes, the Company would evaluate whether there is a probability that the uncertain tax position taken would be sustained upon examination by the taxing authorities. A liability for uncertain tax positions would then be recorded if the Company determined it is more likely than not that a position would not be sustained upon examination or if a payment would have to be made to a taxing authority and the amount is reasonably estimable. The Company does not believe any uncertain tax positions exist that would result in the Company having a liability to the taxing authorities. The Company classifies interest and penalties related to unrecognized tax benefits, if and when required, as part of interest expense and other expense in the statements of operations. As of September 30, 2024 and 2023, the Company did no Fair Value Measurements The Company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 - quoted prices in active markets for identical assets or liabilities Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 - inputs that are unobservable (for example cash flow modeling inputs based on assumptions) The Company has no assets or liabilities valued at fair value on a recurring basis. Recent Accounting Pronouncements The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

EXECUTION AND TERMINATION OF VI

EXECUTION AND TERMINATION OF VIE AGREEMENTS	12 Months Ended
EXECUTION AND TERMINATION OF VIE AGREEMENTS	Sep. 30, 2024
Execution And Termination Of Vie Agreements
EXECUTION AND TERMINATION OF VIE AGREEMENTS	NOTE 4. EXECUTION AND TERMINATION OF VIE AGREEMENTS On January 20, 2021, Beijing ALW and Green Energy entered into a series of contractual arrangements, including Equity Pledge Agreement, Exclusive Technology Development, Consulting and Services Agreement, Exclusive Option Agreement, and Irrevocable Power of Attorney (collectively, the “VIE Agreements”) with Hengshui Jingzhen, whereby Beijing ALW gained control over Hengshui Jingzhen, a P.R. China company, which provides integrated hazardous waste management services, including collecting, transferring, disposing, and recycling of hazardous waste, primarily in Hebei, China. This transaction was accounted for as a reverse merger in which the Company was the legal acquirer and Hengshui Jingzhen was the accounting acquirer. On March 29, 2021, due to changes of the Company’s business plan, the board of directors and a majority shareholder of the Company approved the termination of the VIE Agreements with Hengshui Jingzhen. On the same date, Beijing ALW, Hengshui Jingzhen, and Hengshui Jingzhen’s shareholders entered into a Termination Agreement to terminate all existing VIE Agreements signed on January 20, 2021. Pursuant to the Termination Agreement, all of the rights and obligations under the existing VIE Agreements were terminated and the Company had no control of Hengshui Jingzhen. Currently, two wholly-owned BVI subsidiaries, Smith Barney, Green Energy and Beijing ALW were terminated. Therefore, in order to avoid unforeseen risk, we ceased our waste disposal and pollution treatment business in China.

PLANT & EQUIPMENT, NET

PLANT & EQUIPMENT, NET	12 Months Ended
PLANT & EQUIPMENT, NET	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
PLANT & EQUIPMENT, NET	NOTE 5. PLANT & EQUIPMENT, NET Plant & equipment, net consisted of the following: Schedule of plant & equipment, net September 30, September 30, Office furniture $ 5,536 $ 5,536 5,536 5,536 Less: Accumulated depreciation (5,536 ) (5,536 ) Plant & equipment, net - - Depreciation expense for the year ended September 30, 2024 and 2023 were 0 0

DEPOSITS

DEPOSITS	12 Months Ended
DEPOSITS	Sep. 30, 2024
Disclosure Deposits Abstract
DEPOSITS	NOTE 6. DEPOSITS Schedule of deposits September 30, September 30, Rental deposit 2,218 2,218 Shares application money* 2,600,000 - $ 2,602,218 $ 2,218 * This represents share application money to acquire St. Mega Enterprises’ shares by issuing 20 million shares of the company.

RELATED PARTY BALANCES AND TRAN

RELATED PARTY BALANCES AND TRANSACTIONS	12 Months Ended
RELATED PARTY BALANCES AND TRANSACTIONS	Sep. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY BALANCES AND TRANSACTIONS	NOTE 7. RELATED PARTY BALANCES AND TRANSACTIONS Related Party Balances (i) Accounts payable – related party On September 30, 2024 and 2023, accounts payable to related party of $Nil 0 0 (ii) Amounts due to related parties: As of September 30, 2024 and 2023, the amounts due to the shareholders of the Company, Shuhua Liu and Chiu Kin Wong, were $ 579,000 579,000

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	12 Months Ended
STOCKHOLDERS’ EQUITY	Sep. 30, 2024
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 8. STOCKHOLDERS’ EQUITY On July 8, 2019, the Company filed an Amended and Restated Articles of Incorporation (the “Restated Charter”) with the Secretary of State of the State of Nevada. Pursuant to the Restated Charter, the Company’s capital stock consists of 510,000,000 500,000,000 10,000,000 On July 17, 2019, the Company received FINRA approval to effect a 10-for-1 stock dividend to holders of its common stock as of June 1, 2019, the record date for the dividend. As a result, common stock figures, share capital, additional paid in capital, and earnings per share information have been retroactively adjusted for all periods presented to reflect the stock dividend. On January 7, 2020, in connection with the MoralArrival Share Exchange Agreement, the Company issued 3,000,000 3,000,000 On February 3, 2021, the Company issued 500,000 500,000 15,000 On May 13, 2021, the Company issued 500,000 500,000 15,000 On November 30, 2022, the Company and Future Era Tech (“FET”) signed a master agreement for cooperation. FET purchased 5,000,000 shares for $0.04 and acquired the independent management rights and management rights of the company’s subsidiary, SUMNET. FET mainly operates clean energy methanol flameless boilers, as well as the research and development and sales of automated production lines. By December 29, the $200,000 investment had been fully credited to the transaction. The first trial order has also been executed by December 29, 2022. On April 13, 2023, the Company issued 90,000 0.001 On October 2, 2023, the company issued 666,667 0.15 100,000 On March 27, 2024, the company issued 625,000 100,000 On April 8, 2024 Summit Networks, Inc. (“SNTW”) entered into a stock purchase agreement with the shareholders of 1103001 B.C. Ltd., dba St. Mega Enterprises, a Canadian corporation, located in British Columbia Canada , (“Mega”). The transaction was consummated on May 31, 2024 and SNTW acquired all the outstanding common stock of Mega. Due to this transaction, Mega has become a wholly owned subsidiary of SNTW. The shareholders of Mega received 20,000,000 On October 16, 2024, the company publicly disclosed all documents of the reverse merger, including Stephen Kok Koon Tan’s resignation from the board of directors. On December 12, 2024, 20 million stock certificates were returned to the company’s share pool.” On April 9, 2024, the company issued 200,000 0.13 26,000 On July 13, 2024, the company issued 30,000 0.20 50,000 0.20 As of September 30, 2024, the Company had 88,711,657

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 9. INCOME TAXES The reconciliation of income tax expense/(benefit) at the U.S. statutory rate of 21% Schedule of reconciliation of income tax benefit September 30, 2024 September 30, 2023 US statutory rate 21 % 21 % Income tax (benefit)/expense at statutory rate $ (45,392) $ 4,993 Change in valuation allowance 45,392 (4,993) Income tax expense $ - $ -

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10. SUBSEQUENT EVENTS In accordance with FASB ASC 855-10 Subsequent Events, the Company has analyzed its operations subsequent to September 30, 2024, to the date these consolidated financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these consolidated financial statements, except as follow: Summit Networks Inc. is undertaking a comprehensive digital transformation initiative SEC OTC Markets The primary objectives of this transformation include: 1. Streamlining Operations o Digitizing and automating key workflows to reduce manual processes, improve efficiency, and lower operational costs. o The transformation supports enhanced internal controls and transparency, consistent with SEC standards. 2. Enhancing Financial Transparency o Integrating the financial systems of the parent and subsidiary companies to enable real-time data sharing and the accurate generation of consolidated financial statements. o Adopting best practices under International Financial Reporting Standards (IFRS) and the Sarbanes-Oxley Act (SOX) to ensure high-quality financial reporting and provide a clear picture of the Company’s financial health to shareholders and investors. 3. Improving Compliance and Disclosure Quality o Ensuring the project design adheres to SEC requirements for document management and secure access to sensitive financial and operational records. o Timely updates on project progress and outcomes will be included in quarterly reports and subsequent disclosures to provide comprehensive insight into the Company’s strategic direction. 4. Driving Profitability through Entrepreneurial Projects o The transformation includes the development of entrepreneurial digital projects, such as enterprise financial digitalization consulting services and document management tools, aimed at diversifying revenue streams and enhancing profitability. o By December 31, 2024, the first phase of the entrepreneurial project is expected to be successfully delivered, setting the stage for further optimization to meet broader market demands. 5. Fostering Long-Term Growth o The digital transformation creates conditions for deeper collaboration between the parent and subsidiary companies in the digital economy. o Leveraging these results, the Company is positioned to attract institutional investors by demonstrating sustained profitability from entrepreneurial projects, paving the way for Pre-IPO financing and potential uplisting initiatives. To execute this initiative, the Company has contracted its wholly owned subsidiary, Sumnet Networks (Canada) Inc., to deliver critical components, including financial software design, document digitization, and process automation. By December 31, 2024, the first phase of the project is expected to be completed successfully, laying the foundation for improved operational efficiency and showcasing the Company’s ability to adapt to the evolving modern business landscape. This digital transformation highlights Summit Networks Inc.’s strategic focus on compliance, operational excellence, and competitiveness, underscoring its long-term commitment to improving profitability and creating value for shareholders.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (GAAP).
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents are on deposit with financial institutions without any restrictions. As of September 30, 2024 and 2023, cash equivalents amounted to $ 46,326 149,614
Plant and Equipment, net	Plant and Equipment, net Plant and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the related capitalized assets.
Related Parties	Related Parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Companies are also considered to be related if they are subject to common control or common significant influence.
Deferred Tax	Deferred Tax The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Accounting for Income Taxes”. The asset and liability method provide that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.
Net Loss Per Share	Net Loss Per Share The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income per share is computed by dividing the net income by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive.
Income Tax	Income Tax ASC 740 provides guidance for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. If the Company determines that an uncertain tax position exists in which the Company could incur income taxes, the Company would evaluate whether there is a probability that the uncertain tax position taken would be sustained upon examination by the taxing authorities. A liability for uncertain tax positions would then be recorded if the Company determined it is more likely than not that a position would not be sustained upon examination or if a payment would have to be made to a taxing authority and the amount is reasonably estimable. The Company does not believe any uncertain tax positions exist that would result in the Company having a liability to the taxing authorities. The Company classifies interest and penalties related to unrecognized tax benefits, if and when required, as part of interest expense and other expense in the statements of operations. As of September 30, 2024 and 2023, the Company did no
Fair Value Measurements	Fair Value Measurements The Company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 - quoted prices in active markets for identical assets or liabilities Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 - inputs that are unobservable (for example cash flow modeling inputs based on assumptions) The Company has no assets or liabilities valued at fair value on a recurring basis.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

PLANT & EQUIPMENT, NET (Tables)

PLANT & EQUIPMENT, NET (Tables)	12 Months Ended
PLANT & EQUIPMENT, NET (Tables)	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of plant & equipment, net	Schedule of plant & equipment, net September 30, September 30, Office furniture $ 5,536 $ 5,536 5,536 5,536 Less: Accumulated depreciation (5,536 ) (5,536 ) Plant & equipment, net - -

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
DEPOSITS (Tables)	Sep. 30, 2024
Disclosure Deposits Abstract
Schedule of deposits	Schedule of deposits September 30, September 30, Rental deposit 2,218 2,218 Shares application money* 2,600,000 - $ 2,602,218 $ 2,218 * This represents share application money to acquire St. Mega Enterprises’ shares by issuing 20 million shares of the company.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of reconciliation of income tax benefit	Schedule of reconciliation of income tax benefit September 30, 2024 September 30, 2023 US statutory rate 21 % 21 % Income tax (benefit)/expense at statutory rate $ (45,392) $ 4,993 Change in valuation allowance 45,392 (4,993) Income tax expense $ - $ -

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) - USD ($)						1 Months Ended	12 Months Ended
	Jul. 13, 2024	Apr. 09, 2024	Apr. 08, 2024	Oct. 02, 2023	Apr. 13, 2023	Mar. 27, 2024	Sep. 30, 2024	Sep. 30, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Entity incorporation, state or country code							NV
Entity incorporation, date of incorporation							Jul. 08, 2014
Shares issued			20,000,000		90,000
Share Price					$ 0.001
Operating capital							$ 242,000	$ 200,090
Mrs. He Chen [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued	30,000
Share Price	$ 0.20
Mr. Xuezhi Ma [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued	50,000
Share Price	$ 0.20
Mr Chaoxia Huang [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued				666,667
Share Price				$ 0.15
Operating capital				$ 100,000
Mrs. Chaoying Huang [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued						625,000
Operating capital						$ 100,000
Ms. Luo Qun [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Share Price		$ 0.13
Number of shares issued		200,000
Stock-based compensation		$ 26,000

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 1,410,627	$ 1,194,477
Working capital surplus	$ 2,087,380

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Accounting Policies [Abstract]
Cash equivalents	$ 46,326	$ 149,614
Uncertain tax positions	$ 0	$ 0

PLANT & EQUIPMENT, NET (Details

PLANT & EQUIPMENT, NET (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 5,536	$ 5,536
Less: Accumulated depreciation	(5,536)	(5,536)
Fixed assets, net
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 5,536	$ 5,536

PLANT & EQUIPMENT, NET (Detai_2

PLANT & EQUIPMENT, NET (Details Narrative) - USD ($)	12 Months Ended
PLANT & EQUIPMENT, NET (Details Narrative) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 0	$ 0

DEPOSITS (Details)

DEPOSITS (Details) - USD ($)		Sep. 30, 2024	Sep. 30, 2023
Disclosure Deposits Abstract
Rental deposit		$ 2,218	$ 2,218
Shares application money	[1]	2,600,000
Deposits		$ 2,602,218	$ 2,218

[1]This represents share application money to acquire St. Mega Enterprises’ shares by issuing 20 million shares of the company.

RELATED PARTY BALANCES AND TR_2

RELATED PARTY BALANCES AND TRANSACTIONS (Details Narrative) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Related Party Transactions [Abstract]
Accounts payable to related party	$ 0	$ 0
Amounts due to shareholders	$ 579,000	$ 579,000

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)

1 Months Ended

12 Months Ended

Jul. 13, 2024

Apr. 09, 2024

Apr. 08, 2024

Oct. 02, 2023

Apr. 13, 2023

Nov. 11, 2020

Jan. 07, 2020

Mar. 27, 2024

Jul. 17, 2019

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2021

May 13, 2021

Feb. 03, 2021

Jul. 08, 2019

Accumulated Other Comprehensive Income (Loss) [Line Items]

Shares designated

510,000,000

Stockholders' equity note, stock split

Company received FINRA approval
to effect a 10-for-1 stock dividend to holders of its common stock as of June 1, 2019, the record date for the dividend. As a result,
common stock figures, share capital, additional paid in capital, and earnings per share information have been retroactively adjusted for
all periods presented to reflect the stock dividend.

Shares issued

20,000,000

90,000

Common stock, shares issued

88,711,657

67,139,990

Share Price

$ 0.001

Operating capital

$ 242,000

$ 200,090

Common stock, shares outstanding

88,711,657

67,139,990

Mr Chaoxia Huang [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Shares issued

666,667

Share Price

$ 0.15

Operating capital

$ 100,000

Mrs. Chaoying Huang [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Shares issued

625,000

Operating capital

$ 100,000

Ms. Luo Qun [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stock-based compensation

$ 26,000

Share Price

$ 0.13

Number of shares issued

200,000

Ms. Liu [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Shares cancelled

3,000,000

Catalpa Holdings, Inc. [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common stock, shares issued

500,000

Fair value of stock based compensation, shares

500,000

Stock-based compensation

$ 15,000

Mr. Jun Du [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common stock, shares issued

500,000

Fair value of stock based compensation, shares

500,000

Stock-based compensation

$ 15,000

Mr. Youyang (John) Cheng [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Shares issued

90,000

Mr. Jian Hua James Shu [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Share Price

$ 0.001

Mrs. He Chen [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Shares issued

30,000

Share Price

$ 0.20

Mr. Xuezhi Ma [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Shares issued

50,000

Share Price

$ 0.20

Moral Arrival Share Exchange Agreement [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Shares issued

3,000,000

Common Stock [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Shares designated

500,000,000

Preferred Stock [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Shares designated

10,000,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
INCOME TAXES (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
US statutory rate	21%	21%
Income tax (benefit)/expense at statutory rate	$ (45,392)	$ 4,993
Change in valuation allowance	45,392	(4,993)
Income tax expense

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	12 Months Ended
INCOME TAXES (Details Narrative)	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
U.S. statutory rate income tax benefit percentage	21%	21%