{"url_path":"/sec/ftrk/10-k/2026/item-14","section_key":"item-14","section_title":"Item 14 MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS**","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-06-30","source_url":"https://www.sec.gov/Archives/edgar/data/2027262/0001493152-26-031197-index.html","accession_number":"0001493152-26-031197","cik":"0002027262","ticker":"FTRK","issuer_name":"Fast Track Group","edgar_url":"https://www.sec.gov/Archives/edgar/data/2027262/0001493152-26-031197-index.html","primary_entity_key":"0002027262","primary_entity_name":"Fast Track Group"},"word_count":249,"has_tables":true,"body_markdown":"**ITEM\n14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS**\n\n \n\nOn\nMay 22, 2025, the SEC declared effective our registration statement on Form F-1 (File Number 333-286542), as amended, filed in connection\nwith our IPO (the “Registration Statement”). On May 23, 2025, we completed our IPO in which we issued and sold an aggregate\nof 3,750,000 ordinary shares, at a price of $4.00 per share for $15 million. Alexander Capital, L.P. was the representative of the underwriters\nof our IPO (the “Representative”). On June 2, 2025, we issued an additional 562,500 ordinary shares at a price of $4.00 per\nshare for $2.25 million following the full exercise of the Representative’s over-allotment option. We received net proceeds of\n$14,549,571, after deducting underwriting discounts, commissions and offering expenses of $2,700,429. No payments for such expenses were\nmade directly or indirectly to (i) any of our officers or directors or their associates, (ii) any persons owning 10% or more of any class\nof our equity securities or (iii) any of our affiliates. The offering terminated after the sale of all securities registered pursuant\nto the Registration Statement.\n\n \n\nFor\nthe year ended February 28, 2026, approximately $13.9 million of our IPO proceeds have been used.\n\n \n\nBelow\nis a summary of the use of the net proceeds from our IPO:\n\n \n\n●\napproximately 58% for marketing and branding purposes;\n\n●\napproximately 4% for building up sales and partnership team; and\n\n●\napproximately 33% for working capital and other general corporate purposes."}