v3.25.2
Segment Information
 12 Months Ended
Mar. 31, 2025
Segment Information [Abstract]  
Segment information

Note 25 — Segment information

 

The Company presents segment information after elimination of inter-Company transactions. In general, revenue, cost of revenue and operating expenses are directly attributable, or are allocated, to each segment. The Company allocates costs and expenses that are not directly attributable to a specific segment, such as those that support infrastructure across different segments, to different segments mainly on the basis of usage, revenue or headcount, depending on the nature of the relevant costs and expenses. The Company’s Chief Executive Officer, who serves as the Chief Operating Decision Maker (“CODM”), does not evaluate the performance of segments using asset information. As such, the Company does not allocate assets to its reportable segments.

By assessing the qualitative and quantitative criteria established by Accounting Standards Codification (“ASC”) 280, “Segment Reporting”, the Company considers itself to have three reportable segments which comprise of console game, game publishing, and media advertising service. The segments are organized based on type of products for sale or service offered.

 

The following tables present the summary of each segment’s revenue, interest expense, depreciation and amortization, income or loss from operations, loss before income taxes, net income and capital expenditure which are considered as a segment operating performance measure, for the years ended March 31, 2025, 2024, and 2023:

 

Disaggregated information of revenues by regions are as follows:

 

   For the Year Ended March 31, 2025 
   Console
game,
hardware,
and
accessories		   Game
Publishing		   Advertising
Service		   Other   Total 
Revenues  $122,018,643   $23,757,232   $1,973,858   $541,156   $148,290,889 
Revenues, a related party   1,244,899    
-
    264,506    
-
    1,509,405 
    123,263,542    23,757,232    2,238,364    541,156    149,800,294 
Reconciliation of revenue                         
Elimination of intersegment revenues                       (7,727,708)
Total consolidated revenues                      $142,072,586 
                          
Less:                         
Cost of revenues   100,288,013    11,110,156    719,080    174,578   $112,291,827 
Cost of revenues, related parties   15,596,454    
-
    237,311    
-
    15,833,765 
    115,884,467    11,110,156    956,391    174,578    128,125,592 
Reconciliation of cost of revenue                         
Elimination of intersegment cost of revenues                       (7,296,367)
Total consolidated cost of revenues                      $120,829,225 
Segment gross profits   7,379,075    12,647,076    1,281,973    366,578   $21,674,702 
                          
Less:                         
Advertising and marketing expenses   1,091,784    629,239    412,225    9,926      
Amortization and depreciation   2,303,694    
-
    33,397    17,446      
Provision for (recovery from) credit loss   70,076    (205,580)   (60,199)   
-
      
Other operating expenses*   2,062,926    96,659    212,760    126,833      
Professional fee   713,369    11,366    70,834    4,246      
R&D Expense   209,746    
-
    
-
    
-
      
Rent   680,867    
-
    232,918    19,327      
Salary expenses   4,270,308    1,344,110    913,349    170,288      
Other income (expense), net   (640,574)   80,669    (326,160)   (8,323)     
Interest expenses   644,003    14,822    6,359    
-
      
Segment profit (loss)   (4,027,124)   10,675,791    (213,510)   26,835   $6,461,992 
                          
Reconciliation of profit or loss                         
Less: Unallocated amounts                         
Other operating expenses                       68,835 
Professional fee                       2,383,796 
Salary expenses                       112,603 
Other income (expense), net                       26,566 
Debt issuance costs                       1,590,750 
Change in fair value of convertible notes and derivative liabilities                       (4,875,420)
Change in fair value of contingent consideration for acquisition                       545,428 
Elimination of intersegment profit                       431,341 
Income (loss) before income taxes                      $6,178,093 
   For the Year Ended March 31, 2024 
   Console
game,
hardware,
and
accessories		   Game
Publishing		   Advertising
Service		   Other   Total 
Revenues  $90,986,196   $4,446,872   $2,716,090   $368,128   $98,517,286 
Revenues, a related party   42,477    
-
    
-
    -    42,477 
    91,028,673    4,446,872    2,716,090    368,128    98,559,763 
Reconciliation of revenue                         
Elimination of intersegment revenues                       (1,025,062)
Total consolidated revenues                      $97,534,701 
                          
Less:                         
Cost of revenues   63,225,758    2,736,076    722,226    135,669   $66,819,729 
Cost of revenues, related parties   17,578,879    
-
    667,336    -    18,246,215 
    80,804,637    2,736,076    1,389,562    135,669    85,065,944 
Reconciliation of cost of revenue                         
Elimination of intersegment cost of revenues                       (849,701)
Total consolidated cost of revenues                      $84,216,243 
Segment gross profits   10,224,036    1,710,796    1,326,528    232,459   $13,493,819 
                          
Less:                         
Advertising and marketing expenses   594,729    768,414    139,762    44,224      
Amortization and depreciation   2,161,956    
-
    202,348    7,414      
Provision for (recovery from) credit loss   165,315    234,075    84,858    -      
Other operating expenses*   810,591    185,862    132,177    234,934      
Professional fee   791,998    35,372    35,190    10,053      
R&D Expense   250,922    
-
    
-
    -      
Rent   612,945    
-
    199,150    10,213      
Salary expenses   3,458,457    765,423    1,183,987    118,842      
Other income (expense), net   (1,219,317)   (57,550)   (10,528)   (676)     
Interest expenses   507,803    
-
    
-
    -      
Segment profit (loss)   2,088,637    (220,800)   (640,416)   (192,545)  $1,034,876 
                          
Reconciliation of profit or loss                         
Less: Unallocated amounts                         
Other operating expenses                       48,252 
Professional fee                       1,095,390 
Salary expenses                       1,329,679 
Other income (expense), net                       21,830 
Change in fair value of contingent consideration for acquisition                       272,029 
Elimination of intersegment profit                       175,361 
Income (loss) before income taxes                      $(1,907,665)
   For the Year Ended March 31, 2023 
   Console
game,
hardware,
and
accessories		   Game
Publishing		   Advertising
Service		   Total 
Revenues  $67,464,852   $7,808,526   $3,315,585   $78,588,963 
Revenues, a related party   660,985    
-
    2,911    663,896 
    68,125,837    7,808,526    3,318,496    79,252,859 
Reconciliation of revenue                    
Elimination of intersegment revenues                  (1,808,704)
Total consolidated revenues                 $77,444,155 
                     
Less:                    
Cost of revenues   46,441,854    5,040,097    932,513   $52,414,464 
Cost of revenues, related parties   12,388,590    
-
    604,258    12,992,848 
    58,830,444    5,040,097    1,536,771    65,407,312 
Reconciliation of cost of revenue                    
Elimination of intersegment cost of revenues                  (1,808,704)
Total consolidated cost of revenues                 $63,598,608 
                     
Segment gross profits   9,295,393    2,768,429    1,781,725   $13,845,547 
                     
Less:                    
Advertising and marketing expenses   769,648    1,103,119    238,411      
Amortization and depreciation   1,329,285    
-
    178,386      
Provision for (recovery from) credit loss   16,517    
-
    17,536      
Other operating expenses*   427,153    157,681    114,282      
Professional fee   212,268    15,039    38,285      
Rent   484,710    28,519    141,981      
Salary expenses   2,911,500    
-
    1,051,711      
Other income (expense), net   (140,111)   (4,885)   (96,709)     
Interest expenses   191,154    
-
    
-
      
Segment profit (loss)   3,093,269    1,468,956    97,842   $4,660,067 
                     
Reconciliation of profit or loss                    
Less: Unallocated amounts                    
Provision for credit loss                  300,000 
Other operating expenses                  14,415 
Professional fee                  694,381 
Other income (expense), net                  (41,693)
Change in fair value of contingent consideration for acquisition                  932,152 
Income (loss) before income taxes                 $2,760,812 

 

*Other operating expenses primarily consist of office, entertainment, travel, and other costs incurred in connection with the Company’s business operations.

As of March 31, 2025, the Company’s total assets comprised of $83,105,479 for sale of console game, hardware and accessories, $15,553,582 for game publishing, $938,881 for advertising services, and $1,989,641 for other and unallocated. For the year ended March 31, 2025, capital expenditures comprised of $159,495 for sale of console game, hardware and accessories and $1,056 for advertising services.

 

As of March 31, 2024, the Company’s total assets comprised of $41,359,537 for sale of console game, hardware and accessories, $7,042,024 for game publishing, $957,031 for advertising services, and $199,652 for other and unallocated. For the year ended March 31, 2024, capital expenditures comprised of $243,012 for sale of console game, hardware and accessories, $15,267 for advertising services, and $19,366 for other and unallocated.

 

As of March 31, 2023, the Company’s total assets comprised of $39,960,655 for sale of console game, hardware and accessories, $6,515,985 for game publishing, $1,347,335 for advertising services, and $0 for other and unallocated. For the year ended March 31, 2023, capital expenditures comprised of $472,911 for sale of console game, hardware and accessories and $65,450 for other and unallocated.

 

Disaggregated information of revenues by regions are as follows:

 

   For the Year   For the Year   For the Year 
   Ended   Ended   Ended 
   March 31,   March 31,   March 31, 
   2025   2024   2023 
Singapore   $71,202,860   $58,145,593   $42,569,909 
Hong Kong    53,720,233    32,696,502    25,963,383 
China    12,626,821    -    - 
Malaysia    4,522,672    6,692,606    8,910,863 
Total revenue  $142,072,586   $97,534,701   $77,444,155 

 

The following table presents long-lived assets by geographic area, which includes property and equipment, net operating leases right-of-use assets, and finance leases right-of-use assets:

 

   As of   As of 
   March 31,   March 31, 
   2025   2024 
Singapore  $954,399   $1,751,850 
Hong Kong   19,118    136,784 
Malaysia   151,171    214,644 
Others   61,011    - 
Total long-lived assets  $1,185,699   $2,103,277