v3.25.2
Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Mar. 31, 2024
Current Assets    
Cash and cash equivalents $ 18,099,019 $ 12,070,345
Restricted cash 30,413 6,842
Accounts receivable, net 1,301,335 1,314,781
Inventories, net 828,053 794,855
Advance to suppliers 301,050 14,902
Other receivables and other current assets, net 319,058 31,634
Total Current Assets 21,296,491 14,233,359
Non-current Assets    
Property, plant and equipment, net 178,561 328,845
Intangible assets, net 11,808 19,101
Long-term deposit 8,309,904
Right-of-use assets – operating leases – related party 176,648 235,848
Total Non-current Assets 367,017 8,893,698
TOTAL ASSETS 21,663,508 23,127,057
Current Liabilities    
Short-term borrowings 702,184 493,054
Long-term borrowings – current 8,781 21,329
Short-term convertible notes 1,780,095
Accounts payable 1,158,298 1,279,516
Refund liabilities 53,885 213,571
Contract liabilities 58,627 187,665
Accrued expenses and other liabilities 2,937,652 2,768,413
Tax payable 1,031,407 1,052,441
Total Current Liabilities 6,012,063 8,901,944
Non-current Liabilities    
Long-term borrowings 96,264 117,129
Total Non-current Liabilities 211,683 294,667
TOTAL LIABILITIES 6,223,746 9,196,611
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY    
Ordinary shares, unlimited shares authorized, no par value, 13,763,268 shares issued and outstanding as of March 31, 2025 (277,276 shares issued and outstanding as of March 31, 2024)* [1] 44,530,601 39,667,906
Accumulated deficits (28,015,317) (24,711,665)
Accumulated other comprehensive loss (1,075,522) (1,025,795)
Total Shareholders’ Equity 15,439,762 13,930,446
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 21,663,508 23,127,057
Related Party    
Current Assets    
Due from related parties 417,563
Non-current Assets    
Right-of-use assets – operating leases – related party 176,648 235,848
Current Liabilities    
Amounts due to related parties   1,047,550
Operating lease liabilities – current – related party 61,229 58,310
Non-current Liabilities    
Operating lease liabilities – non-current – related party $ 115,419 $ 177,538
[1] Retrospectively restated for effect of reverse stock splits on October 5, 2023 and February 25, 2025.