Masonglory (FFTT) Registration filing summary

Company overview and business model

• Hong Kong operations provide subcontracted wet-trades and ancillary services, including plastering, tiling, bricklaying, floor screeding and marble works; operating since 2018. Masontech holds Group 2 plastering registration.

• Projects are won mainly through customer invitations to tender; subcontractors perform much of the site work under internal project management. Customers are primarily Hong Kong main contractors.

• Strategy: expand staff and machinery, diversify the project mix toward public-sector work, and build proactive marketing to broaden the customer base.

• A 20% non-controlling interest in BETA Wellness, acquired in August 2026 for 1,377,000 shares, adds construction-material distribution and premium outdoor-wellness products in Central Europe.

Financial performance and metrics

• FY2026 revenue was $23.56m, up 1.0% YoY; gross profit fell 52.2% to $1.04m and gross margin declined to 4.4% from 9.3%.

• FY2026 net loss was $8.00m versus net income of $1.28m in FY2025, primarily reflecting $7.81m non-cash share-based compensation and lower gross profit.

• FY2026 operating cash flow was negative $3.81m, versus positive $3.39m in FY2025; cash at banks was $315,721 at March 31, 2026.

• Backlog rose to $31.41m at March 31, 2026 from $14.88m a year earlier; the filing cautions that backlog may be adjusted, canceled or fail to produce revenue or profit.

Use of proceeds and capital allocation

• Resale proceeds go entirely to selling shareholders; cash proceeds from warrant exercises could reach $1,600,800 and are intended for general corporate purposes, including working capital.

• No specific allocation is assigned to potential warrant proceeds; all available funds and future earnings are intended to support operations and expansion, with no dividends anticipated in the foreseeable future.