Audit 336887

Title: BASIS OF PRESENTATION Accounting Policies: NOTE 1 – BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (“SEFA”) includes the federal grant activity of ASSE International, Inc. (the “Company”) under programs of the federal government for the year ended August 31, 2024. The information in the SEFA is presented in accordance with the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States of America, and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Because the SEFA presents only a selected portion of the operations of the Company, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Company. Federal awards received directly from federal agencies as well as federal awards passed through state and local agencies are included in the SEFA. NOTE 2 – BASIS OF ACCOUNTING The SEFA is presented using the accrual basis of accounting which is described in the notes to the Company’s consolidated financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. NOTE 3 – RELATIONSHIP TO FEDERAL AWARDS REPORTS Amounts reported in the SEFA agree with the amounts reported in the related federal financial reports for the major federal program. NOTE 4 –INDIRECT COSTS The SEFA includes both direct and indirect costs expended for all grant programs. The indirect costs expended under federal awards are based on actual indirect costs incurred prorated over the total actual number of students participating in all Company programs. De Minimis Rate Used: N Rate Explanation: The SEFA includes both direct and indirect costs expended for all grant programs. The indirect costs expended under federal awards are based on actual indirect costs incurred prorated over the total actual number of students participating in all Company programs. The accompanying schedule of expenditures of federal awards (“SEFA”) includes the federal grant activity of ASSE International, Inc. (the “Company”) under programs of the federal government for the year ended August 31, 2024. The information in the SEFA is presented in accordance with the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States of America, and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Because the SEFA presents only a selected portion of the operations of the Company, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Company. Federal awards received directly from federal agencies as well as federal awards passed through state and local agencies are included in the SEFA.

Title: BASIS OF ACCOUNTING Accounting Policies: NOTE 1 – BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (“SEFA”) includes the federal grant activity of ASSE International, Inc. (the “Company”) under programs of the federal government for the year ended August 31, 2024. The information in the SEFA is presented in accordance with the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States of America, and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Because the SEFA presents only a selected portion of the operations of the Company, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Company. Federal awards received directly from federal agencies as well as federal awards passed through state and local agencies are included in the SEFA. NOTE 2 – BASIS OF ACCOUNTING The SEFA is presented using the accrual basis of accounting which is described in the notes to the Company’s consolidated financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. NOTE 3 – RELATIONSHIP TO FEDERAL AWARDS REPORTS Amounts reported in the SEFA agree with the amounts reported in the related federal financial reports for the major federal program. NOTE 4 –INDIRECT COSTS The SEFA includes both direct and indirect costs expended for all grant programs. The indirect costs expended under federal awards are based on actual indirect costs incurred prorated over the total actual number of students participating in all Company programs. De Minimis Rate Used: N Rate Explanation: The SEFA includes both direct and indirect costs expended for all grant programs. The indirect costs expended under federal awards are based on actual indirect costs incurred prorated over the total actual number of students participating in all Company programs. The SEFA is presented using the accrual basis of accounting which is described in the notes to the Company’s consolidated financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement.

Title: RELATIONSHIP TO FEDERAL AWARDS REPORTS Accounting Policies: NOTE 1 – BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (“SEFA”) includes the federal grant activity of ASSE International, Inc. (the “Company”) under programs of the federal government for the year ended August 31, 2024. The information in the SEFA is presented in accordance with the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States of America, and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Because the SEFA presents only a selected portion of the operations of the Company, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Company. Federal awards received directly from federal agencies as well as federal awards passed through state and local agencies are included in the SEFA. NOTE 2 – BASIS OF ACCOUNTING The SEFA is presented using the accrual basis of accounting which is described in the notes to the Company’s consolidated financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. NOTE 3 – RELATIONSHIP TO FEDERAL AWARDS REPORTS Amounts reported in the SEFA agree with the amounts reported in the related federal financial reports for the major federal program. NOTE 4 –INDIRECT COSTS The SEFA includes both direct and indirect costs expended for all grant programs. The indirect costs expended under federal awards are based on actual indirect costs incurred prorated over the total actual number of students participating in all Company programs. De Minimis Rate Used: N Rate Explanation: The SEFA includes both direct and indirect costs expended for all grant programs. The indirect costs expended under federal awards are based on actual indirect costs incurred prorated over the total actual number of students participating in all Company programs. Amounts reported in the SEFA agree with the amounts reported in the related federal financial reports for the major federal program.

Title: INDIRECT COSTS Accounting Policies: NOTE 1 – BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (“SEFA”) includes the federal grant activity of ASSE International, Inc. (the “Company”) under programs of the federal government for the year ended August 31, 2024. The information in the SEFA is presented in accordance with the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States of America, and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Because the SEFA presents only a selected portion of the operations of the Company, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Company. Federal awards received directly from federal agencies as well as federal awards passed through state and local agencies are included in the SEFA. NOTE 2 – BASIS OF ACCOUNTING The SEFA is presented using the accrual basis of accounting which is described in the notes to the Company’s consolidated financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. NOTE 3 – RELATIONSHIP TO FEDERAL AWARDS REPORTS Amounts reported in the SEFA agree with the amounts reported in the related federal financial reports for the major federal program. NOTE 4 –INDIRECT COSTS The SEFA includes both direct and indirect costs expended for all grant programs. The indirect costs expended under federal awards are based on actual indirect costs incurred prorated over the total actual number of students participating in all Company programs. De Minimis Rate Used: N Rate Explanation: The SEFA includes both direct and indirect costs expended for all grant programs. The indirect costs expended under federal awards are based on actual indirect costs incurred prorated over the total actual number of students participating in all Company programs. The SEFA includes both direct and indirect costs expended for all grant programs. The indirect costs expended under federal awards are based on actual indirect costs incurred prorated over the total actual number of students participating in all Company programs.