| Schedule of Prepayments and Other Receivables |
Prepayments and other receivables as of December
31, 2024 and March 31, 2025 consisted of the following:
| | |
December 31, | | |
March 31, | |
| | |
2024 | | |
2025 | |
| VAT recoverable | |
$ | 2,444,726 | | |
$ | 2,898,590 | |
| Prepayments to suppliers | |
| 7,992,672 | | |
| 6,806,532 | |
| Deposits | |
| 83,754 | | |
| 83,496 | |
| Staff advances | |
| 76,096 | | |
| 143,986 | |
| Prepaid operating expenses | |
| 501,218 | | |
| 501,507 | |
| Interest receivable | |
| 92,515 | | |
| 202,311 | |
| Receivables from customers for non-operating agency-based service | |
| 8,845,759 | | |
| 7,321,568 | |
| Other receivables | |
| 258,219 | | |
| 254,720 | |
| | |
| 20,294,959 | | |
| 18,212,710 | |
| Less: Allowance for credit losses | |
| (289,993 | ) | |
| (221,445 | ) |
| | |
$ | 20,004,966 | | |
$ | 17,991,265 | |
|
| Schedule of Allowance for Credit Losses |
An analysis of the allowance for credit losses
are as follows:
| Balance as at January 1, 2025 | |
$ | 289,993 | |
| Current period provision, net | |
| (69,934 | ) |
| Foreign exchange adjustment | |
| 1,386 | |
| Balance as of March 31, 2025 | |
$ | 221,445 | |
|