v3.25.2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 5,049,421 $ (1,960,956) $ 2,140,670
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation of property and equipment 328,948 320,308 297,069
Amortization of intangible assets 1,065,373 1,168,358 517,902
Amortization of right of use assets- operating leases 861,508 839,152 662,748
Amortization of right of use assets- operating lease, a related party 3,396
Amortization of right of use assets- finance leases 113,207 43,900 26,556
(Recovery from) provision for credit loss and doubtful accounts (195,604) 484,247 334,052
Loss from disposal of property and equipment 57,202
Deferred taxes benefit (233,848) (669,869) (253,166)
Change in fair value of contingent consideration for acquisition 545,428 272,029 932,152
Change in fair value of convertible notes and derivative liabilities (4,875,420)
Change in operating assets and liabilities      
Accounts receivables (6,553,616) (688,981) (8,469,244)
Inventories (987,139) (1,614,310) (97,791)
Indefinite-lived intangible assets (7,457,563) 3,679,922 (7,935,920)
Other receivable and other current assets (1,078,716) 298,028 (604,789)
Amount due from related parties (378,330)
Prepayments (636,796) (3,418,619) 438,951
Prepayments, a related party (3,000,000) 1,525,280
Accounts payable 21,091,971 (1,521,354) 3,946,276
Accounts payable, a related party (2,000,144) 2,501,759 2,153,601
Contract liabilities 294,594 (153,395) (70,035)
Other payables and accrued liabilities (11,884,607) 2,456,933 302,825
Operating Lease Liabilities (851,010) (803,335) (657,410)
Operating Lease Liabilities, related parties (3,363)
Income tax payables 473,709 25,277 444,370
Net cash (used in) provided by operating activities (10,308,634) 1,316,296 (4,365,870)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of equipment (161,403) (277,645) (538,361)
Cash paid for contingent consideration for acquisition (435,385) (540,496) (6,122)
Cash paid in business combinations, net of cash acquired 37,517
Loan to third party (381,381)
Acquisition of long-term investment (5,364,229) (71,045)
Net cash used in investing activities (6,342,398) (780,624) (615,528)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Cash paid for redemption of ordinary shares (163,905)
Proceeds from bank loans 31,736,150 24,221,605 8,824,486
Repayments to bank loans (28,835,340) (25,419,912) (2,482,844)
Proceeds from convertible notes 33,025,000
Loan from related party 3,954,657 78,362
Advance to related parties (1,382,616) (2,027,725)
Repayments to related parties (1,617,045)
Principal payments of finance lease liabilities (63,429) (174,062) (33,069)
Proceeds from reverse recapitalization, net of payments of transaction costs 611,708
Cash paid to acquire additional controlling interest in a subsidiary (600,000)
Payments of deferred merger costs (699,598) (900,531)
Net cash provided by financing activities 33,557,446 135,236 4,359,210
EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH 138,564 (168,777) (27,696)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH 17,044,978 502,131 (649,884)
CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of year 4,333,737 3,831,606 4,481,490
CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, end of year 21,378,715 4,333,737 3,831,606
SUPPLEMENTAL CASH FLOWS INFORMATION      
Income taxes paid 910,450 723,160 795,551
Interest paid 597,111 507,803 191,163
SUPPLEMENTAL NON-CASH FLOWS INFORMATION      
Fair value of share issuance in acquisition of a subsidiary 687,348
Accretion of change in fair value of ordinary shares subject to possible redemption 12,652
Recognition of initial right-of-use assets and lease liabilities 1,512,807 123,014
Right-of-use assets in exchange for operating lease liabilities 169,655
Recognition of non-controlling interest from acquisition of subsidiaries 564,546 2,590,000
Recognition of acquisition payable for acquiring 2Game 4,293,000
Share issuance for acquisition payable 266,214
Deferred merger costs included in other payables and accrued liabilities 167,426
Reclassification of redeemable ordinary shares from mezzanine to permanent equity 700,000
Recognition of derivative asset from acquisition of additional controlling interest of subsidiaries 269,119
Acquisition of additional interest in a subsidiary through recognition of payable 600,000
Shares issuance for partial settlement of contingent consideration for acquisition 2,633,450
Issuance of ordinary shares upon conversion of convertible notes 25,063,061
Issuance of ordinary share upon the reverse recapitalization 10,081,212
Recognition of incremental fair value of warrants upon the reverse recapitalization 12,014
Reclassification of deferred merger costs to additional paid-in capital 1,713,953
Deferred investment consideration payable 7,500,000
Cash and cash equivalents 18,247,380 2,677,059 2,543,045
Restricted cash 3,131,335 1,656,678 1,288,561
Total cash and cash equivalents, and restricted cash $ 21,378,715 $ 4,333,737 $ 3,831,606