| Schedule of Accrued Expenses and Other Payables |
Accrued expenses and other payables as of December
31, 2024 and March 31, 2025 consisted of the following:
| | |
December 31, | | |
March 31, | |
| | |
2024 | | |
2025 | |
| Construction costs payable | |
$ | 11,570,384 | | |
$ | 9,018,797 | |
| Equipment purchase payable | |
| 10,871,081 | | |
| 10,015,861 | |
| Liquidated damages* | |
| 1,210,119 | | |
| 1,210,119 | |
| Accrued staff costs | |
| 6,253,168 | | |
| 5,892,613 | |
| Customer deposits | |
| 6,856,137 | | |
| 7,766,116 | |
| Deferred revenue | |
| 4,831,774 | | |
| 6,241,213 | |
| Accrued expenses | |
| 2,059,252 | | |
| 2,072,634 | |
| Interest payables | |
| 69,927 | | |
| 74,095 | |
| Other tax payables | |
| 1,175,339 | | |
| 831,208 | |
| Dividend payable to non-controlling interest to Hitrans | |
| 1,221,915 | | |
| 1,228,445 | |
| Payables to suppliers for non-operating agency-based service | |
| 11,981,065 | | |
| 5,833,023 | |
| Other payable | |
| 185,474 | | |
| 121,249 | |
| | |
$ | 58,285,635 | | |
$ | 50,305,373 | |
| * | On August 15, 2006, the SEC declared effective a post-effective amendment that the Company had filed on August 4, 2006, terminating the effectiveness of a resale registration statement on Form SB-2 that had been filed pursuant to a registration rights agreement with certain shareholders to register the resale of shares held by those shareholders. The Company subsequently filed Form S-1 for these shareholders. On December 8, 2006, the Company filed its Annual Report on Form 10-K for the year ended September 30, 2006 (the “2006 Form 10-K”). After the filing of the 2006 Form 10-K, the Company’s previously filed registration statement on Form S-1 was no longer available for resale by the selling shareholders whose shares were included in such Form S-1. Under the registration rights agreement, those selling shareholders became eligible for liquidated damages from the Company relating to the above two events totaling approximately $1,051,000. As of December 31, 2024 and March 31, 2025, no liquidated damages relating to both events have been paid. |
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