Summit Networks SEC Filings

Summit Networks Inc. insider ownership disclosure: Xian Nan Zheng, who serves as a director and as Secretary and Acting Chief Financial Officer of Summit Networks Inc. (SNTW), reports beneficial ownership of the company’s common stock. The filing shows indirect ownership of 1,034,174 shares of common stock, par value $0.001 per share, held through Royal Stanley Consulting Canada, Inc.

This Form 3 establishes Zheng’s status as an insider with significant indirect equity exposure to Summit Networks Inc., reflecting both a leadership role and a substantial beneficial ownership position.

Summit Networks Inc. insider Chao Long Huang, who serves as President and CEO, reported his initial beneficial ownership of company stock. The filing shows indirect ownership of 2,979,330 shares of common stock with par value $0.001, held through Zenox Enterprises, Inc. This Form 3 establishes Huang’s existing stake and confirms the shares are owned indirectly via this entity.

Summit Networks, Inc. has obtained written consents from holders of a majority of its 68,911,657 outstanding common shares as of January 1, 2026, to approve several corporate actions without holding a shareholder meeting. These consents elect a slate of directors, establish an audit committee, and ratify Mao & Ying, LLP as the company’s external auditors for the fiscal years ending December 31, 2024 and 2025.

The approved board includes Shuhua Liu (Chairman), CEO Chao Long (Charlene) Huang, Xian Nan (Delia) Zheng, Jianhua (James) Shu, Hong (Nancy) Yu and Lei (Leila) Yang, who will serve until the next annual meeting or until successors are elected. Shareholders also approved an audit committee comprised of Lei (Leila) Yang as Audit Chair and Financial Expert, and members Hong Yu and Jianhua Shu. An ownership table shows Hass Group, Inc. holding 42,735,504 shares, or 62.01% of the company’s common stock as of December 31, 2024, giving it effective control of shareholder votes.

Summit Networks Inc. (SNTW) filed an 8-K to voluntarily explain a family relationship in senior leadership and related governance measures. The company disclosed that its Chief Executive Officer, Ms. Charlene Huang, and Interim Chief Financial Officer and Secretary, Ms. Delia Zheng, are mother and daughter. Ms. Zheng has served as a director since March 2023, became Company Secretary in April 2024, and was asked to temporarily assume the CFO role effective March 2025 as a transitional measure to support financial-reporting continuity.

To support operations during an auditor transition, the CEO provided short-term working-capital loans on standard commercial terms, with no equity transfer, conversion features, dilution, or changes to voting or ownership rights. The Board formed an Audit Committee on August 25, 2025 and engaged senior financial experts, and by September 30, 2025 the company completed two commercially deployable Web2/Web3 workflow templates intended as a foundation for future revenue growth. Senior officer pay is tightly controlled, with the CEO receiving no salary and other officers only fixed salary, and expense approvals are overseen by the Audit Committee. Management states this disclosure does not alter its prior conclusion on the effectiveness of internal control over financial reporting and does not require any restatement of past financial statements.

Summit Networks Inc. (SNTW) filed its Q3 2025 10‑Q, showing early commercialization with modest revenue and continued losses, alongside a going‑concern warning. The company reported revenue of $9,262 for the quarter and $11,797 for the nine months, reflecting initial SME project milestones. Gross profit was $(120) for the quarter as costs exceeded revenue, and general and administrative expenses rose to $81,007 on higher professional and consulting fees.

Net loss was $(80,584) for the quarter and $(248,307) year‑to‑date. The balance sheet shows cash of $94,947, a working capital deficit of $814,895, and a stockholders’ deficit of $(809,701). Related‑party borrowings totaled $884,156, including the CEO’s advances of $235,156 with $2,843 of interest. Management states substantial doubt about the Company’s ability to continue as a going concern and is relying on shareholder financing.

Disclosure controls were deemed not effective due to material weaknesses (limited segregation of duties and insufficient documentation). Steps taken include forming an Audit Committee and engaging an experienced accounting firm. Shares outstanding were 68,911,657 as of September 30, 2025.

Summit Networks Inc. (SNTW) announced board and bylaw updates. On October 12, 2025, the Board appointed Lei (Leila) Yang as an independent director, naming her Chair of the Audit Committee and the Board’s audit committee financial expert. On October 15, 2025, directors Youyang (John) Cheng and Xuezhi (George) Ma resigned; the Board re-appointed Jian Hua (James) Shu as an independent director for a second term and Vice Chair of the Audit Committee. The Audit Committee now consists of three independent directors: Lei (Chair), Jian (Vice Chair), and Nancy (Member).

The Board amended Article III of the Bylaws to permit virtual or in-person securityholder meetings with identity verification, real-time participation, voting, and recordkeeping; require the annual meeting no later than 120 days after the December 31 fiscal year-end; and set meeting quorum at not less than one-third of the voting power. Ms. Yang’s agreement includes no equity or cash retainer, a C$200 document fee per Form 10-Q/10-K, and a C$3,000 annual stipend for online governance coordination, with a two-year term.