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vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">1.<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">ORGANIZATION AND DESCRIPTION OF BUSINESS </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Waton Financial Limited (“Waton Financial” or the “Company”), is a holding company incorporated in the British Virgin Islands with limited liability on June 25, 2010 under the original name of “IAM Group Inc.”, which name was changed to “Waton Financial Limited” on July 5, 2023, and conducts its business mainly through its subsidiaries in Hong Kong (hereafter, the “Group”), namely Waton Securities International Limited (“WSI”). WSI principally engaged in the provision of (i) securities brokerage and distribution services, margin financing services and other ancillary services; and (ii) software licensing and related support services, including licensing and Software-as-a-Service (“SaaS”) based delivery of trading platform applications, upgrades and enhancements, maintenance and other related services to securities brokers and financial institutions. Since September 2023, Waton Technology International Limited (“WTI”) has engaged in the provision of software licensing and related support services, including licensing of trading platform applications, upgrades and enhancements, maintenance and other related services to securities brokers and financial institutions. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: left;">As of September 30, 2025, the Company’s operating subsidiaries are as follows: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 132pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 76.93pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 64.98pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 37.77pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 83.3pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 132pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Entity</div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 76.93pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Date of </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Incorporation</div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 64.98pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Place of </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Incorporation</div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.77pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">% of </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Ownership </div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 83.3pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Major business </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">activities </div> </td> </tr> <tr> <td style="width: 132pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Waton Securities </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">International Limited (“WSI”) </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 76.93pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">April 28, 1989</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 64.98pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Hong Kong</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.77pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">100%</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 83.3pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Broker services and software licensing and related support services</div> </td> </tr> <tr> <td style="width: 132pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Waton Technology </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">International Limited (“WTI”) </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 76.93pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">February 24, 2023</div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 64.98pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Hong Kong</div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.77pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">100%</div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 83.3pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Software licensing and related support services</div> </td> </tr> <tr> <td style="width: 132pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Waton Sponsor Limited</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 76.93pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">September 7, 2023</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 64.98pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">British Virgin Islands(“BVI”)</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.77pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">100%</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 83.3pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Sponsor of a special purpose acquisition company</div> </td> </tr> <tr> <td style="width: 132pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Love &amp; Health Limited*</div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 76.93pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">October 3, 2023</div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 64.98pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Cayman Islands</div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.77pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">100%</div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 83.3pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Special Purpose Acquisition Company</div> </td> </tr> <tr> <td style="width: 132pt; padding-top: 1.01pt; text-align: left; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Descart Limited</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 76.93pt; padding-top: 1.01pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">February 23, 2024</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 64.98pt; padding-top: 1.01pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">United States</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.77pt; padding-top: 1.01pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">100%</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 83.3pt; padding-top: 1.01pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">General holding</div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 132pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 76.93pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 64.98pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 37.77pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 83.3pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 20pt; margin-top: 12.75pt;"> <br/></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">*<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">As of September 30, 2025, Love &amp; Health Limited has not completed its initial public offering with Nasdaq. </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">On April 2, 2025, the Company closed its initial public offering (“IPO”) of 4,375,000 ordinary shares and the sale of an additional 656,250 ordinary shares (the “Over-allotment”), pursuant to the full exercise of the over-allotment option granted to the underwriters in connection with the IPO. The offering price was $4.00 per share. The aggregate gross proceeds of the IPO and Over-allotment were $20,125,000 before deducting underwriting discounts and offering expenses. The ordinary shares of the Company were approved for listing on The Nasdaq Capital Market and commenced trading under the ticker symbol “WTF” on April 1, 2025. </div> <div class="BRDSX_h5" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 16.5pt; margin-left: 20pt; text-align: left;"><span style="text-decoration: underline;">Going concern and liquidity</span> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Company’s unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Company reported a net loss of $8,366,642 for the six months ended September 30, 2025 and had an accumulated deficit of $17,473,787 as of September 30, 2025. The Company had positive working capital of $23,616,959 and cash and cash equivalents of $14,347,536 as of September 30, 2025. The Company’s unaudited condensed consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: left;">As of September 30, 2025, the Company’s operating subsidiaries are as follows: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 132pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 76.93pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 64.98pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 37.77pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.63pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 83.3pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 132pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Entity</div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 76.93pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Date of </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Incorporation</div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 64.98pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Place of </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Incorporation</div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.77pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">% of </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Ownership </div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 83.3pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Major business </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">activities </div> </td> </tr> <tr> <td style="width: 132pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Waton Securities </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">International Limited (“WSI”) </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 76.93pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">April 28, 1989</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 64.98pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Hong Kong</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.77pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">100%</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 83.3pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Broker services and software licensing and related support services</div> </td> </tr> <tr> <td style="width: 132pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Waton Technology </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">International Limited (“WTI”) </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 76.93pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">February 24, 2023</div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 64.98pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Hong Kong</div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.77pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">100%</div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 83.3pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Software licensing and related support services</div> </td> </tr> <tr> <td style="width: 132pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Waton Sponsor Limited</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 76.93pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">September 7, 2023</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 64.98pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">British Virgin Islands(“BVI”)</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.77pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">100%</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 83.3pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Sponsor of a special purpose acquisition company</div> </td> </tr> <tr> <td style="width: 132pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Love &amp; Health Limited*</div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 76.93pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">October 3, 2023</div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 64.98pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Cayman Islands</div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.77pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">100%</div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 83.3pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Special Purpose Acquisition Company</div> </td> </tr> <tr> <td style="width: 132pt; padding-top: 1.01pt; text-align: left; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Descart Limited</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 76.93pt; padding-top: 1.01pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">February 23, 2024</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 64.98pt; padding-top: 1.01pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">United States</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.77pt; padding-top: 1.01pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">100%</div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 83.3pt; padding-top: 1.01pt; text-align: center; vertical-align: top; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">General holding</div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 132pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 76.93pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 64.98pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 37.77pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.63pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 83.3pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 20pt; margin-top: 12.75pt;"> <br/></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">*<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">As of September 30, 2025, Love &amp; Health Limited has not completed its initial public offering with Nasdaq. </div> </td> </tr> </table> 1989-04-28 K3 1 Broker services and software licensing and related support services 2023-02-24 K3 1 Software licensing and related support services 2023-09-07 D8 1 Sponsor of a special purpose acquisition company 2023-10-03 E9 1 Special Purpose Acquisition Company 2024-02-23 X1 1 General holding 4375000 656250 4 20125000 -8366642 -17473787 23616959 14347536 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 0pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">2.<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(a)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Basis of presentation </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The accompanying unaudited condensed consolidated financial statements (“Unaudited Financial Statements”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 20-F as of and for the years ended March 31, 2025 and 2024 (“Audited Financial Statements”), as filed on July 24, 2025. In the opinion of management, all normal recurring adjustments necessary for their fair presentation have been included. Operating results for the six months ended September 30, 2025 and 2024 are not necessarily indicative of the results that may be expected for the full year. Other than policies noted below, there have been no significant changes to the significant accounting policies and estimates disclosed in the Audited Financial Statements. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(b)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Principles of consolidation </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Unaudited Financial Statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in the consolidation. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(c)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Use of estimates </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The preparation of the Unaudited Financial Statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited condensed consolidated financial statements and reported amounts of revenues and expenses during the reporting periods. These estimates are based on information available as of the date of the Unaudited Financial Statements. Accounting estimates required to be made by management include, but not limited to, recognition of software licensing and related support services income, allowance for credit losses, valuation of share-based compensation, income taxes and valuation for investments. Actual results could differ from those estimates. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(d)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Receivables from and payables to clients </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Receivables from and payables to clients include amounts due and owed on cash and margin transactions on a trade-date basis. Receivables from clients include margin loans to securities brokerage clients and other trading receivables. WSI engages in margin financing transactions with its clients. Margin loans generated from margin lending activity for securities traded in the secondary market are collateralized by client-owned securities held in client’s accounts. WSI monitors the required margin and collateral level on a daily basis in compliance with regulatory and internal guidelines. Under applicable agreements, clients are required to deposit additional collateral or reduce holding positions, when necessary to avoid forced liquidation of their positions. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group elected the practical expedient for Financial Accounting Standard Board (“FASB”) Accounting Standard Codification (“ASC”) Topic 326 – “Financial Instruments – Credit Losses” (“ASC 326”) which permits it to compare the amortized cost basis of the loaned amount with the fair value of collateral received at the reporting date to measure the estimate of expected credit losses. Securities beneficially owned by clients, including those that collateralize margin or other similar transactions, are not reflected on the unaudited condensed consolidated balance sheets. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: justify;">As of September 30, 2025 and March 31, 2025, the Group had no credit losses reserve to its receivables from clients. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(e)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Receivables from and payables to broker-dealers and clearing organization </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Receivables from and payables to clearing organization include receivables and payables from unsettled trades on a trade-date basis, including amounts receivable for securities trades not delivered by WSI to the purchaser by the settlement date and amounts payable for securities not received by WSI from a seller by the settlement date. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: justify;">As of September 30, 2025 and March 31, 2025, the Group had no credit losses reserve to its receivables from broker-dealers and clearing organization. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Payables to broker-dealers represent margin loan that WSI borrowed from broker-dealers by repledging or sell-and-repurchase the securities that pledged by its margin clients. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(f)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Receivables from software licensing (including subscription based) and related support services </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Receivables from software licensing (including subscription based) and related support services primarily consist of amounts due for services already performed and are recorded at the invoiced amount and do not bear interest. The Group maintains an allowance for estimated credit losses inherent in its accounts receivable portfolio. In establishing the expected credit loss, management considers historical losses adjusted to take into account current and future market conditions and the customers’ financial condition, the amount of receivables in dispute and customer paying patterns. Balances that remain outstanding after the Group has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. As of September 30, 2025 and March 31, 2025, the receivables from software licensing (including subscription based) and related support services were fully collateralized by the client-owned securities held in the customer’s account. There were no allowance was recognized on the receivables from software licensing (including subscription based) and related support services during the periods presented in the accompanying Unaudited Financial Statements. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(g)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Deferred offering costs </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Deferred offering costs are incurred in connection with the public offerings of the Company, and initial public offerings (“IPOs”), of the Company’s subsidiary, Love and Health Limited, a SPAC entity, including legal, underwriting, and other public offering related costs. Upon completion of the public offering, these deferred offering costs will be reclassified to shareholders’ equity. If the Company terminates its planned public offering or if there is a significant delay, all of the deferred offering costs will be immediately written off to expenses in the unaudited condensed consolidated statements of operations. Deferred offering costs were $0.44 million and $1.50 million as of September 30, 2025 and March 31, 2025, respectively, and were recorded in other assets. For the six months ended September 30, 2025, the Company’s deferred offering cost of $1.1 million has been charged against equity upon completion of its IPO on April 2, 2025. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(h)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Investment in equity securities</div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Company accounts for investments in equity securities in accordance with ASC 321, Investments – Equity Securities. For investment in an equity security in which the Company does not have a controlling financial interest, the Company determines if it has the ability to exercise significant influence over the entity. Equity investment over which the Company does not have the ability to exercise significant influence and that does not have a readily determinable fair value that qualifies for the net asset value (“NAV”) practical expedient. The Company has elected to apply the NAV practical expedient to estimate fair value, with changes in NAV recognized in the accompanying in the unaudited condensed consolidated statements of operations. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">For all other investments in equity securities over which the Company does not have the ability to exercise significant influence and without a readily determinable fair value, the Company applies alternative measurements on these equity securities which are defined as cost, less any impairments, a plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. The Company monitors the investment for impairments and makes adjustments in carrying values if management determines that an impairment charge is required based primarily on the financial condition and near-term prospects of the investment. The Company evaluates potential impairment indicators, including adverse changes in industry or market conditions, financial performance, business outlook, and other relevant factors. If such indicators are present, further analysis is conducted to determine whether any impairment is other-than-temporary. In cases where an impairment is deemed other-than-temporary, the Company determines the fair value of the investment. When quoted market prices are not available, the </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: justify;">Company exercises judgment in estimating fair value, taking into account factors such as current economic and market conditions, the investee’s operating performance and earnings trends, and other company- and industry-specific information. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(i)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Equity method investments </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group accounts for an equity method investment over which it has significant influence but does not have a controlling financial interest and of which it is not the primary beneficiary. The Group’s share of the investee’s profit and loss is recognized in the unaudited condensed consolidated statements of operations. During the six months ended September 30, 2025 and 2024, the share of investee losses recognized was $0.03 million and $0.34 million, respectively. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group assesses its equity method investments for other-than-temporary impairment by considering factors as well as all relevant and available information including, but not limited to, current economic and market conditions, the operating performance of the companies including current earnings trends, and other entity-specific information.</div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(j)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Fair value measurement </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group performs fair value measurements in accordance with ASC 820, Fair Value Measurements and Disclosures. ASC 820 defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">•</div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Level 1 - Observable inputs that reflect quoted prices for identical assets or liabilities in active markets. </div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">•</div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly. </div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">•</div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">Level 3 - Unobservable inputs which are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">As of September 30, 2025 and March 31, 2025, the carrying values of cash and cash equivalents, cash segregated under regulatory requirements, receivables from clients, receivables from broker-dealers and clearing organization, receivables from software licensing and related support services, prepaid expenses and other current assets, payables to clients, payables to broker dealers and clearing organization, accrued expenses and other current liabilities approximated their fair values reported in the unaudited condensed consolidated balance sheets due to the short-term maturities of these financial instruments. The Company applies the practical expedient provided by the ASC Topic 820 relating to investments in certain entities that calculate net asset value per share (or its equivalent). ASC Topic 820 permits an entity holding investments in certain entities that either are investment companies, or have attributes similar to an investment company, and calculate NAV per share or its equivalent for which the fair value is not readily determinable, to measure the fair value of such investments on the basis of that NAV per share, or its equivalent, without adjustment. Investments which are valued using NAV per share as a practical expedient are not categorized within the fair value hierarchy as per ASC Topic 820. </div> <div><br/> </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 0pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(k)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Contract assets and liabilities </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group records a contract asset when revenue is recognized prior to invoicing. The Group’s contract liabilities primarily relate to unsatisfied performance obligations when payment has been received from customers before the performance obligations are satisfied. <span style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The following table summarized the opening and closing balances in contract assets and liabilities: </span></div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: -2pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="margin-top: -2pt; width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 336pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 48.87pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 40.83pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 336pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; margin-top: 0pt; text-align: center;">Contract assets</div> </td> <td style="width: 5.57pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; margin-top: 0pt; text-align: center;">Contract </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; margin-top: 0pt; text-align: center;">liabilities^* </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 0.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Balance as of April 1, 2024</div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-top: 1.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.94pt; text-align: left;">$<span style="padding-left: 30pt;">—</span></div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-top: 1.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;">$<span style="padding-left: 3.33pt;">600,000</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Net change to contract balance recognized since beginning of period due to recognition of revenue and amounts billed</div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.94pt; text-align: left;"><span style="padding-left: 5pt;">1,200,000</span></div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 5pt;">(476,863)</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Balance as of March 31, 2025</div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.94pt; text-align: left;"><span style="padding-left: 5pt;">1,200,000</span></div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 8.33pt;">123,137</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 0.01pt; padding-bottom: 1.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Net change to contract balance recognized since beginning of the period due to recognition of revenue and amounts billed</div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-top: 0.01pt; padding-bottom: 1.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.94pt; text-align: left;"><span style="padding-left: 9.17pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(569,155)</span></div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-top: 0.01pt; padding-bottom: 1.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 30.83pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.26pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Balance as of September 30, 2025</div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-top: 1.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.94pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 7.5pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">630,845</span></div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-top: 1.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 3.33pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">123,137</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 336pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 48.87pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 40.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 20pt; margin-top: 13.25pt;"> <br/></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">*<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">Contract liabilities were included within the accrued expenses and other current liabilities. </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7.5pt; margin-left: 20pt; text-align: justify;">No expected credit loss recognized for the six months ended September 30, 2025 and 2024 for contract assets. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(l)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Concentration and credit risk </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Financial instruments that potentially subject the Group to concentration of credit risk consist of cash accounts held with financial institutions in Hong Kong. Cash segregated under regulatory requirements is deposited in reputable financial institutions as required by the Hong Kong Securities and Futures Ordinance. At times, these accounts may exceed the maximum coverage limit of approximatively $102,000 (HK$800,000), effective from October 1, 2024, under the Deposit Protection Scheme introduced by the Hong Kong Government. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group has not experienced any losses in these accounts and management believes that these financial institutions are of sound credit quality and the Group is not exposed to any significant credit risk on these accounts. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group’s exposure to credit risk associated with its trading and other activities is measured on an individual counterparty basis, as well as by Group of counterparties that share similar attributes. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: left;">The Group is exposed to concentration risks with specific counterparties. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(i)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Major customers </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">For the six months ended September 30, 2025 and 2024, customer A, a related party, accounted for 36.6% and 68.0% of the Group’s total revenues, respectively. As of September 30, 2025, customer A accounted for 5.8% of the total balance of receivables, including balances from client, broker-dealers and clearing organizations and software licensing and related support service. As of March 31, 2025, customer A accounted for 61.0% of the total balance of receivables. For the six months ended September 30, 2025 and 2024, customer B, accounted for 14.6% and <span style="-sec-ix-hidden:Fact_544999a7180946adb0774cd6061eaf7a">nil</span> of the Group’s total revenues, respectively. As of September 30, 2025, customer B accounted for 38.6% of the total balance of receivables, including balances from client, broker-dealers and clearing organizations and software licensing and related support service. As of March 31, 2025, customer B accounted for <span style="-sec-ix-hidden:Fact_8020c01cee3f4082b5d6f6941b664c99">nil</span> of the total balance of receivables. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(ii)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Major supplier </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">There was one sole related party supplier for software licensing and related support outsourcing services, who accounted for 5.4% and 13.3% of total operating costs and expenses for the six months ended September 30, 2025 and 2024, respectively. As of September 30, 2025 and March 31, 2025, supplier A, a related party, accounted for 6.5% and 5.4% of the total balance of accounts payable, respectively. Supplier A ceased to be a related party in the fourth quarter in 2025. </div> <div><br/> </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 0pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(m)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Risks and uncertainties </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group’s business, financial condition and results of operations may also be negatively impacted by risks related to regional wars, geopolitical tensions, natural disasters, extreme weather conditions, health epidemics and other catastrophic incidents, which could potentially and significantly disrupt the Group’s operations. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(n)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Recent accounting pronouncements </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">We are an “emerging growth company” as defined in the JOBS Act. Under the JOBS Act, an emerging growth company can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: left;"><span style="text-decoration: underline;">Recently issued accounting pronouncements not yet adopted -</span> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures, which requires public entities to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold on an annual basis. The new guidance will become effective for the Company’s financial statements issued for annual reporting periods beginning on January 1, 2026. The Company will be required to adopt this guidance on a prospective basis with an option to apply it retrospectively for each period presented. Early adoption of the standard is also permitted. The Company is in the process of evaluating the impact of the financial statement disclosure requirement. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">In November 2024, the FASB issued ASU No. 2024-03, “Disaggregation of Income Statement Expenses (Subtopic 220-40): Disaggregation of Income Statement Expenses”, which is intended to provide disaggregated information about a public business entity’s expenses to help financial statement users better understand the entity’s performance, better assess the entity’s prospects for future cash flows, and compare an entity’s performance over time and with that of other entities. The amendment is effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The new standard may be applied either on a prospective or retrospective basis. The Company is currently evaluating the effect of adopting this guidance. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The amendment provides all entities with a practical expedient to assume that current conditions as of the balance sheet date do not change for the remaining life of the assets and with an accounting policy election to consider collection activity after the balance sheet date when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606. This guidance is effective for annual reporting periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the effect of adopting this guidance. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Except for the above-mentioned pronouncements, there are no new recently issued accounting standards that will have a material impact on the Group’s unaudited condensed consolidated financial statements. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(a)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Basis of presentation </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The accompanying unaudited condensed consolidated financial statements (“Unaudited Financial Statements”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 20-F as of and for the years ended March 31, 2025 and 2024 (“Audited Financial Statements”), as filed on July 24, 2025. In the opinion of management, all normal recurring adjustments necessary for their fair presentation have been included. Operating results for the six months ended September 30, 2025 and 2024 are not necessarily indicative of the results that may be expected for the full year. Other than policies noted below, there have been no significant changes to the significant accounting policies and estimates disclosed in the Audited Financial Statements. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(b)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Principles of consolidation </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Unaudited Financial Statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in the consolidation. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(c)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Use of estimates </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The preparation of the Unaudited Financial Statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited condensed consolidated financial statements and reported amounts of revenues and expenses during the reporting periods. These estimates are based on information available as of the date of the Unaudited Financial Statements. Accounting estimates required to be made by management include, but not limited to, recognition of software licensing and related support services income, allowance for credit losses, valuation of share-based compensation, income taxes and valuation for investments. Actual results could differ from those estimates. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(d)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Receivables from and payables to clients </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Receivables from and payables to clients include amounts due and owed on cash and margin transactions on a trade-date basis. Receivables from clients include margin loans to securities brokerage clients and other trading receivables. WSI engages in margin financing transactions with its clients. Margin loans generated from margin lending activity for securities traded in the secondary market are collateralized by client-owned securities held in client’s accounts. WSI monitors the required margin and collateral level on a daily basis in compliance with regulatory and internal guidelines. Under applicable agreements, clients are required to deposit additional collateral or reduce holding positions, when necessary to avoid forced liquidation of their positions. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group elected the practical expedient for Financial Accounting Standard Board (“FASB”) Accounting Standard Codification (“ASC”) Topic 326 – “Financial Instruments – Credit Losses” (“ASC 326”) which permits it to compare the amortized cost basis of the loaned amount with the fair value of collateral received at the reporting date to measure the estimate of expected credit losses. Securities beneficially owned by clients, including those that collateralize margin or other similar transactions, are not reflected on the unaudited condensed consolidated balance sheets. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: justify;">As of September 30, 2025 and March 31, 2025, the Group had no credit losses reserve to its receivables from clients. </div> 0 0 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(e)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Receivables from and payables to broker-dealers and clearing organization </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Receivables from and payables to clearing organization include receivables and payables from unsettled trades on a trade-date basis, including amounts receivable for securities trades not delivered by WSI to the purchaser by the settlement date and amounts payable for securities not received by WSI from a seller by the settlement date. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: justify;">As of September 30, 2025 and March 31, 2025, the Group had no credit losses reserve to its receivables from broker-dealers and clearing organization. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Payables to broker-dealers represent margin loan that WSI borrowed from broker-dealers by repledging or sell-and-repurchase the securities that pledged by its margin clients. </div> 0 0 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(f)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Receivables from software licensing (including subscription based) and related support services </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Receivables from software licensing (including subscription based) and related support services primarily consist of amounts due for services already performed and are recorded at the invoiced amount and do not bear interest. The Group maintains an allowance for estimated credit losses inherent in its accounts receivable portfolio. In establishing the expected credit loss, management considers historical losses adjusted to take into account current and future market conditions and the customers’ financial condition, the amount of receivables in dispute and customer paying patterns. Balances that remain outstanding after the Group has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. As of September 30, 2025 and March 31, 2025, the receivables from software licensing (including subscription based) and related support services were fully collateralized by the client-owned securities held in the customer’s account. There were no allowance was recognized on the receivables from software licensing (including subscription based) and related support services during the periods presented in the accompanying Unaudited Financial Statements. </div> 0 0 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(g)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Deferred offering costs </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Deferred offering costs are incurred in connection with the public offerings of the Company, and initial public offerings (“IPOs”), of the Company’s subsidiary, Love and Health Limited, a SPAC entity, including legal, underwriting, and other public offering related costs. Upon completion of the public offering, these deferred offering costs will be reclassified to shareholders’ equity. If the Company terminates its planned public offering or if there is a significant delay, all of the deferred offering costs will be immediately written off to expenses in the unaudited condensed consolidated statements of operations. Deferred offering costs were $0.44 million and $1.50 million as of September 30, 2025 and March 31, 2025, respectively, and were recorded in other assets. For the six months ended September 30, 2025, the Company’s deferred offering cost of $1.1 million has been charged against equity upon completion of its IPO on April 2, 2025. </div> 440000 1500000 1100000 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(h)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Investment in equity securities</div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Company accounts for investments in equity securities in accordance with ASC 321, Investments – Equity Securities. For investment in an equity security in which the Company does not have a controlling financial interest, the Company determines if it has the ability to exercise significant influence over the entity. Equity investment over which the Company does not have the ability to exercise significant influence and that does not have a readily determinable fair value that qualifies for the net asset value (“NAV”) practical expedient. The Company has elected to apply the NAV practical expedient to estimate fair value, with changes in NAV recognized in the accompanying in the unaudited condensed consolidated statements of operations. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">For all other investments in equity securities over which the Company does not have the ability to exercise significant influence and without a readily determinable fair value, the Company applies alternative measurements on these equity securities which are defined as cost, less any impairments, a plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. The Company monitors the investment for impairments and makes adjustments in carrying values if management determines that an impairment charge is required based primarily on the financial condition and near-term prospects of the investment. The Company evaluates potential impairment indicators, including adverse changes in industry or market conditions, financial performance, business outlook, and other relevant factors. If such indicators are present, further analysis is conducted to determine whether any impairment is other-than-temporary. In cases where an impairment is deemed other-than-temporary, the Company determines the fair value of the investment. When quoted market prices are not available, the </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: justify;">Company exercises judgment in estimating fair value, taking into account factors such as current economic and market conditions, the investee’s operating performance and earnings trends, and other company- and industry-specific information. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(i)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Equity method investments </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group accounts for an equity method investment over which it has significant influence but does not have a controlling financial interest and of which it is not the primary beneficiary. The Group’s share of the investee’s profit and loss is recognized in the unaudited condensed consolidated statements of operations. During the six months ended September 30, 2025 and 2024, the share of investee losses recognized was $0.03 million and $0.34 million, respectively. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group assesses its equity method investments for other-than-temporary impairment by considering factors as well as all relevant and available information including, but not limited to, current economic and market conditions, the operating performance of the companies including current earnings trends, and other entity-specific information.</div> -30000.00 -340000 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(j)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Fair value measurement </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group performs fair value measurements in accordance with ASC 820, Fair Value Measurements and Disclosures. ASC 820 defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">•</div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Level 1 - Observable inputs that reflect quoted prices for identical assets or liabilities in active markets. </div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">•</div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly. </div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">•</div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">Level 3 - Unobservable inputs which are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">As of September 30, 2025 and March 31, 2025, the carrying values of cash and cash equivalents, cash segregated under regulatory requirements, receivables from clients, receivables from broker-dealers and clearing organization, receivables from software licensing and related support services, prepaid expenses and other current assets, payables to clients, payables to broker dealers and clearing organization, accrued expenses and other current liabilities approximated their fair values reported in the unaudited condensed consolidated balance sheets due to the short-term maturities of these financial instruments. The Company applies the practical expedient provided by the ASC Topic 820 relating to investments in certain entities that calculate net asset value per share (or its equivalent). ASC Topic 820 permits an entity holding investments in certain entities that either are investment companies, or have attributes similar to an investment company, and calculate NAV per share or its equivalent for which the fair value is not readily determinable, to measure the fair value of such investments on the basis of that NAV per share, or its equivalent, without adjustment. Investments which are valued using NAV per share as a practical expedient are not categorized within the fair value hierarchy as per ASC Topic 820. </div> <div><br/> </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 0pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(k)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Contract assets and liabilities </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group records a contract asset when revenue is recognized prior to invoicing. The Group’s contract liabilities primarily relate to unsatisfied performance obligations when payment has been received from customers before the performance obligations are satisfied. <span style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The following table summarized the opening and closing balances in contract assets and liabilities: </span></div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: -2pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="margin-top: -2pt; width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 336pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 48.87pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 40.83pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 336pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; margin-top: 0pt; text-align: center;">Contract assets</div> </td> <td style="width: 5.57pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; margin-top: 0pt; text-align: center;">Contract </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; margin-top: 0pt; text-align: center;">liabilities^* </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 0.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Balance as of April 1, 2024</div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-top: 1.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.94pt; text-align: left;">$<span style="padding-left: 30pt;">—</span></div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-top: 1.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;">$<span style="padding-left: 3.33pt;">600,000</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Net change to contract balance recognized since beginning of period due to recognition of revenue and amounts billed</div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.94pt; text-align: left;"><span style="padding-left: 5pt;">1,200,000</span></div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 5pt;">(476,863)</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Balance as of March 31, 2025</div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.94pt; text-align: left;"><span style="padding-left: 5pt;">1,200,000</span></div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 8.33pt;">123,137</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 0.01pt; padding-bottom: 1.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Net change to contract balance recognized since beginning of the period due to recognition of revenue and amounts billed</div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-top: 0.01pt; padding-bottom: 1.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.94pt; text-align: left;"><span style="padding-left: 9.17pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(569,155)</span></div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-top: 0.01pt; padding-bottom: 1.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 30.83pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.26pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Balance as of September 30, 2025</div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-top: 1.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.94pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 7.5pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">630,845</span></div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-top: 1.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 3.33pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">123,137</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 336pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 48.87pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 40.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 20pt; margin-top: 13.25pt;"> <br/></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">*<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">Contract liabilities were included within the accrued expenses and other current liabilities. </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7.5pt; margin-left: 20pt; text-align: justify;">No expected credit loss recognized for the six months ended September 30, 2025 and 2024 for contract assets. </div> <span style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The following table summarized the opening and closing balances in contract assets and liabilities: </span> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: -2pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="margin-top: -2pt; width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 336pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 48.87pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 40.83pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 336pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; margin-top: 0pt; text-align: center;">Contract assets</div> </td> <td style="width: 5.57pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; margin-top: 0pt; text-align: center;">Contract </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; margin-top: 0pt; text-align: center;">liabilities^* </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 0.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Balance as of April 1, 2024</div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-top: 1.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.94pt; text-align: left;">$<span style="padding-left: 30pt;">—</span></div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-top: 1.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;">$<span style="padding-left: 3.33pt;">600,000</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Net change to contract balance recognized since beginning of period due to recognition of revenue and amounts billed</div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.94pt; text-align: left;"><span style="padding-left: 5pt;">1,200,000</span></div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 5pt;">(476,863)</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Balance as of March 31, 2025</div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.94pt; text-align: left;"><span style="padding-left: 5pt;">1,200,000</span></div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-top: 0.01pt; padding-bottom: 0.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 8.33pt;">123,137</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 0.01pt; padding-bottom: 1.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Net change to contract balance recognized since beginning of the period due to recognition of revenue and amounts billed</div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-top: 0.01pt; padding-bottom: 1.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.94pt; text-align: left;"><span style="padding-left: 9.17pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(569,155)</span></div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-top: 0.01pt; padding-bottom: 1.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 30.83pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.26pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Balance as of September 30, 2025</div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 48.87pt; padding-top: 1.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.94pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 7.5pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">630,845</span></div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 40.83pt; padding-top: 1.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 3.33pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">123,137</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 336pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 48.87pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.57pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 40.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 20pt; margin-top: 13.25pt;"> <br/></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">*<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">Contract liabilities were included within the accrued expenses and other current liabilities. </div> </td> </tr> </table> 0 600000 1200000 -476863 1200000 123137 -569155 0 630845 123137 0 0 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(l)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Concentration and credit risk </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Financial instruments that potentially subject the Group to concentration of credit risk consist of cash accounts held with financial institutions in Hong Kong. Cash segregated under regulatory requirements is deposited in reputable financial institutions as required by the Hong Kong Securities and Futures Ordinance. At times, these accounts may exceed the maximum coverage limit of approximatively $102,000 (HK$800,000), effective from October 1, 2024, under the Deposit Protection Scheme introduced by the Hong Kong Government. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group has not experienced any losses in these accounts and management believes that these financial institutions are of sound credit quality and the Group is not exposed to any significant credit risk on these accounts. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group’s exposure to credit risk associated with its trading and other activities is measured on an individual counterparty basis, as well as by Group of counterparties that share similar attributes. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: left;">The Group is exposed to concentration risks with specific counterparties. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(i)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Major customers </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">For the six months ended September 30, 2025 and 2024, customer A, a related party, accounted for 36.6% and 68.0% of the Group’s total revenues, respectively. As of September 30, 2025, customer A accounted for 5.8% of the total balance of receivables, including balances from client, broker-dealers and clearing organizations and software licensing and related support service. As of March 31, 2025, customer A accounted for 61.0% of the total balance of receivables. For the six months ended September 30, 2025 and 2024, customer B, accounted for 14.6% and <span style="-sec-ix-hidden:Fact_544999a7180946adb0774cd6061eaf7a">nil</span> of the Group’s total revenues, respectively. As of September 30, 2025, customer B accounted for 38.6% of the total balance of receivables, including balances from client, broker-dealers and clearing organizations and software licensing and related support service. As of March 31, 2025, customer B accounted for <span style="-sec-ix-hidden:Fact_8020c01cee3f4082b5d6f6941b664c99">nil</span> of the total balance of receivables. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(ii)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">Major supplier </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">There was one sole related party supplier for software licensing and related support outsourcing services, who accounted for 5.4% and 13.3% of total operating costs and expenses for the six months ended September 30, 2025 and 2024, respectively. As of September 30, 2025 and March 31, 2025, supplier A, a related party, accounted for 6.5% and 5.4% of the total balance of accounts payable, respectively. Supplier A ceased to be a related party in the fourth quarter in 2025. </div> 102000 800000 0.366 0.68 0.058 0.61 0.146 0.386 0.054 0.133 0.065 0.054 <div><br/> </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 0pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(m)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Risks and uncertainties </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group’s business, financial condition and results of operations may also be negatively impacted by risks related to regional wars, geopolitical tensions, natural disasters, extreme weather conditions, health epidemics and other catastrophic incidents, which could potentially and significantly disrupt the Group’s operations. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">(n)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; text-align: left;">Recent accounting pronouncements </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">We are an “emerging growth company” as defined in the JOBS Act. Under the JOBS Act, an emerging growth company can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: left;"><span style="text-decoration: underline;">Recently issued accounting pronouncements not yet adopted -</span> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures, which requires public entities to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold on an annual basis. The new guidance will become effective for the Company’s financial statements issued for annual reporting periods beginning on January 1, 2026. The Company will be required to adopt this guidance on a prospective basis with an option to apply it retrospectively for each period presented. Early adoption of the standard is also permitted. The Company is in the process of evaluating the impact of the financial statement disclosure requirement. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">In November 2024, the FASB issued ASU No. 2024-03, “Disaggregation of Income Statement Expenses (Subtopic 220-40): Disaggregation of Income Statement Expenses”, which is intended to provide disaggregated information about a public business entity’s expenses to help financial statement users better understand the entity’s performance, better assess the entity’s prospects for future cash flows, and compare an entity’s performance over time and with that of other entities. The amendment is effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The new standard may be applied either on a prospective or retrospective basis. The Company is currently evaluating the effect of adopting this guidance. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The amendment provides all entities with a practical expedient to assume that current conditions as of the balance sheet date do not change for the remaining life of the assets and with an accounting policy election to consider collection activity after the balance sheet date when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606. This guidance is effective for annual reporting periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the effect of adopting this guidance. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Except for the above-mentioned pronouncements, there are no new recently issued accounting standards that will have a material impact on the Group’s unaudited condensed consolidated financial statements. </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">3.<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">INVESTMENT SECURITIES </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">In August 2025, the Company invested $1,000,000 in membership interests of a certain investment fund, which is a limited liability company incorporated in the State of Delaware representing approximately 1% of the outstanding membership interests of the investment fund. The Company determined it does not have significant influence in the investment fund and the investment does not have readily determinable fair value, and is eligible to measure in accordance with NAV practical expedient.</div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Company holds 100% of member interest in WIG SPC, an exempted segregated portfolio company. WIG SPC is the host legal entity of multiple segregated portfolios and does not have material assets, liabilities, or equity other than those solely attributable to the individual segregated portfolios. Each segregated portfolio (“SP”) holds specified assets and liabilities that are legally and economically segregated from the other SP and WIG SPC. Because the power to direct the activities that most significantly impact economic performance and </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: justify;">the related risks and rewards are isolated at the SP level, the equity interests of the individual SPs do not represent equity investment at risk of WIG SPC as a whole under ASC 810, Consolidation.</div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Company determined that it is not the primary beneficiary of any of the segregated portfolios and, accordingly, does not consolidate the segregated portfolios in its consolidated financial statements.</div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">During the six months ended September 30, 2025, WSI launched Z Navigation Option Hedge Fund S.P. (“SP4” or “Z Navigation”), a segregated portfolio within WIG SPC. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">In July 2025, WSI subscribed for $1,000,000 Class VI Shares of Z Navigation at the subscription price of $15 per share. Z Navigation is a segregated portfolio fund under WIG SPC and invests in a private equity fund and certain listed equity securities. The fund is readily marketable and the Group is expected to realize it in a short-term period. As of September 30, 2025, the Company’s variable interest in Z Navigation is classified as Investment securities, at NAV – related party, with a carrying amount of $1,000,000. The Company’s maximum exposure to loss is limited to its subscription amount of $1 million, representing its junior tranche capital amongst $2 million total junior tranche capital paid up by junior tranche members. WSI co-manages the fund with another senior tranche investor pursuant to a supplemental fund management agreement during the six months ended September 30, 2025. The Company has no obligation to provide additional financial support, including liquidity facilities, guarantees, or asset purchase commitments. The senior tranche stop-loss protection is borne solely by senior investors. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">During the six months ended September 30, 2025 and 2024, the Company recognized the changes in net asset value of investments of $0.74 million and <span style="-sec-ix-hidden:Fact_6c02435ecaa84e0e99587aaa3fc1dc8f">nil</span>, respectively. </div> 1000000 0.01 1 1000000 15 1000000 1000000 2000000 -740000 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">4.<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">EQUITY METHOD INVESTMENT, NET </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">During the year ended March 31, 2024, WSI acquired a 55% interest in LeFeng Hainan Private Equity Fund Management Limited (“LeFeng”). WSI does not have the requisite voting power of <span style="-sec-ix-hidden:Fact_071eedc0d93641baaa30d9391946644a">two thirds</span> or more to control LeFeng pursuant to its articles of association and cannot remove the existing sole director appointed by the other shareholder holding a 45% equity interest without cause. WSI’s obligation to absorb losses of, or the right to receive benefits from, the investee is limited to its capital investments or its rights to receive sharing of profit from the investee based on its proportionate share of the capital contributions. The Group determined it has ability to exercise significant influence over its financial and operating polices and therefore accounted for this investment under equity method. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">During October 2024, WSI and the sole director of LeFeng (the “Purchaser”) entered into a shares transfer agreement, pursuant to which WSI agreed to sell and the Purchaser agreed to purchase the 55% equity interest in LeFeng with carrying amount of $0.77 million for a consideration of approximately $0.90 million (equivalent to HK$7,000,000) (the “Divestment”). The Divestment was completed during the six months ended September 30, 2025. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">For the six months ended September 30, 2025 and 2024, the loss on share of equity method investment was $0.03 million and $0.34 million.</div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">For the six months ended September 30, 2025, the Company recorded a gain on sale of equity method investment of $0.74 million and provided an allowance on expected credit loss of $0.74 million on the receivable of the Divestment, which is recorded in the “Prepaid expenses and other current assets”. </div> 0.55 0.45 0.55 770000 900000 7000000 -30000.00 -340000 -740000 740000 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">5.<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">LEASES </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group has operating leases for its offices with terms ranging from <span style="-sec-ix-hidden:Fact_02c6b61735eb4d9b8d183554cb5b1e3c">two</span> to three years. In April and September 2023, the Group entered into two new lease agreements, one for its corporate headquarters at Harbor City, Hong Kong, and the other for employee residence. The Group also has a finance lease for a printer, which is deemed not material for accounting purposes. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: left;">The components of lease costs are as follows: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> </div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 348pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 4.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 4.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 91.34pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 348pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 4.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 4.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 91.34pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 348pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 4.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 4.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 4.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 4.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr> <td style="width: 348pt; padding-top: 2.01pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Operating lease costs</div> </td> <td style="width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;">$325,960</div> </td> <td style="width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;">$315,013</div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 348pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 41.35pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 41.35pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.5pt; margin-left: 20pt; text-align: left;">The following table presents supplemental information related to the Group’s leases: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> </div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 336pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 97.34pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 336pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 97.34pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 336pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Cash paid for amounts included in the measurement of lease liabilities: </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Operating cash flows from operating leases</div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;">$290,920</div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;">$252,730 </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Lease term and discount rate </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Weighted average remaining lease term (years) </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Operating leases</div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;"><span style="padding-left: 20pt;">0.50</span></div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;"><span style="padding-left: 20pt;">1.34 </span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Weighted average discount rate </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Operating leases</div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;"><span style="padding-left: 20pt;">5.13%<br/> </span></div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;"><span style="padding-left: 20pt;">5.13%<br/> </span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 336pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 41.35pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 41.35pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.5pt; margin-left: 20pt; text-align: left;">As of September 30, 2025, the future maturity of lease liabilities is as follows: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> </div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 384pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 13.25pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 13.25pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 37.5pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 384pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 13.25pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 13.25pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.5pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Operating <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">lease </div> </td> </tr> <tr> <td style="width: 384pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Remainder of fiscal year ending March 31, 2026</div> </td> <td style="width: 13.25pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 13.25pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.5pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$214,809 </div> </td> </tr> <tr> <td style="width: 384pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Less: interest</div> </td> <td style="width: 13.25pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 13.25pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.5pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 11.67pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(3,623)<br/> </span><span style="padding-bottom: 1.5pt;"> </span></div> </td> </tr> <tr> <td style="width: 384pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Present value of lease liabilities</div> </td> <td style="width: 13.25pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 13.25pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.5pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 0.37pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">211,186</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 384pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 13.25pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 13.25pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 37.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> P3Y 2 <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: left;">The components of lease costs are as follows: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> </div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 348pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 4.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 4.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 91.34pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 348pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 4.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 4.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 91.34pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 348pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 4.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 4.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 4.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 4.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr> <td style="width: 348pt; padding-top: 2.01pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Operating lease costs</div> </td> <td style="width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;">$325,960</div> </td> <td style="width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;">$315,013</div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 348pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 41.35pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 4.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 41.35pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> 325960 315013 <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.5pt; margin-left: 20pt; text-align: left;">The following table presents supplemental information related to the Group’s leases: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> </div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 336pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 97.34pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 336pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 97.34pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 336pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Cash paid for amounts included in the measurement of lease liabilities: </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Operating cash flows from operating leases</div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;">$290,920</div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;">$252,730 </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Lease term and discount rate </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Weighted average remaining lease term (years) </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Operating leases</div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;"><span style="padding-left: 20pt;">0.50</span></div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;"><span style="padding-left: 20pt;">1.34 </span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Weighted average discount rate </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Operating leases</div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;"><span style="padding-left: 20pt;">5.13%<br/> </span></div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 41.35pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1.93pt; text-align: left;"><span style="padding-left: 20pt;">5.13%<br/> </span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 336pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 41.35pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 41.35pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> 290920 252730 P0Y6M P1Y4M2D 0.0513 0.0513 <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.5pt; margin-left: 20pt; text-align: left;">As of September 30, 2025, the future maturity of lease liabilities is as follows: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> </div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 384pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 13.25pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 13.25pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 37.5pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 384pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 13.25pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 13.25pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.5pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Operating <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">lease </div> </td> </tr> <tr> <td style="width: 384pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Remainder of fiscal year ending March 31, 2026</div> </td> <td style="width: 13.25pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 13.25pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.5pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$214,809 </div> </td> </tr> <tr> <td style="width: 384pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Less: interest</div> </td> <td style="width: 13.25pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 13.25pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.5pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 11.67pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(3,623)<br/> </span><span style="padding-bottom: 1.5pt;"> </span></div> </td> </tr> <tr> <td style="width: 384pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Present value of lease liabilities</div> </td> <td style="width: 13.25pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 13.25pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 37.5pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 0.37pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">211,186</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 384pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 13.25pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 13.25pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 37.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> 214809 3623 211186 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">6.<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">INCOME TAXES </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7.5pt; margin-left: 20pt; text-align: left;">The income tax provision consisted of the following components: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 336pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 97.34pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 336pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 97.34pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 336pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 33.1pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.6pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Current income tax expense</div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 33.1pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.06pt; text-align: left;">$—</div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.6pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 8.56pt; text-align: left;">$<span style="padding-left: 17.5pt;">— </span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Deferred income tax benefit</div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 33.1pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.06pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.6pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 8.56pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">77,138 </span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total income tax benefit</div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 33.1pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.06pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$—</span></div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.6pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 8.56pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$77,138</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 336pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 33.1pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 49.6pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: justify;">For the six months ended September 30, 2024, as a result of the Company’s inability to establish a reliable estimate for the annual effective tax rate, the Company calculated income tax expense using the actual effective tax rate year to date, as opposed to the estimated annual effective tax rate. <span style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">A reconciliation between the Group’s effective income tax rate and the provision under Hong Kong statutory tax rate is as follows: </span></div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 336pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 101pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 336pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 101pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 336pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 5.5pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Loss before income tax benefit</div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$8,366,642</div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$1,225,393 </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Tax at applicable income tax rate (16.5%)</div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 5pt;">1,380,496</span></div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">202,190</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Tax effect of different tax rates in other jurisdictions</div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 9.17pt;">(376,714)</span></div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 9.17pt;">(120,430)</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Tax effect on non-taxable income</div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 30pt;">315</span></div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 35pt;">26</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Tax effect on non-deductible expenses</div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 9.17pt;">(142,672)</span></div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 19.17pt;">(4,648)</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Tax effect on tax losses not recognized</div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 26.67pt;">(976)</span></div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Tax effect on change in valuation allowance</div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 9.17pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(860,449)</span></div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 35pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Income tax benefit</div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 30pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">—</span></div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 12.5pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">77,138</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 336pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">As of September 30, 2025 and March 31, 2025, the significant components of the deferred tax assets were summarized below: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 324pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 113.83pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 324pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 113.83pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">As of </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 324pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 5.08pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">March 31, 2025 </div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Net operating loss carried forward</div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.53pt; text-align: left;">$<span style="padding-left: 3.33pt;">1,239,510</span></div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.97pt; text-align: left;">$<span style="padding-left: 10.83pt;">614,768 </span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Temporary difference from share-based compensation expenses</div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.53pt; text-align: left;"><span style="padding-left: 8.33pt;">1,233,828</span></div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.97pt; text-align: left;"><span style="padding-left: 15.83pt;">848,574</span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Unrealized loss from the equity method investment</div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.53pt; text-align: left;"><span style="padding-left: 15.83pt;">122,819</span></div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.97pt; text-align: left;"><span style="padding-left: 38.33pt;">—</span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Others</div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.53pt; text-align: left;"><span style="padding-left: 25.83pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">2,635</span></div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.97pt; text-align: left;"><span style="padding-left: 20.83pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">19,236</span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Subtotal</div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0.53pt; text-align: left;"><span style="padding-left: 8.33pt;">2,598,792</span></div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 2.97pt; text-align: left;"><span style="padding-left: 8.33pt;">1,482,578</span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Less: valuation allowance</div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.53pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(2,598,792)</span></div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.97pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(1,482,578)</span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total deferred tax assets</div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0.53pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 33.33pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">—</span></div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 2.97pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 33.33pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">—</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 324pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 49.39pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 54.28pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The realization of deferred tax assets is dependent upon the generation of sufficient taxable income of the appropriate character in future periods. The Group regularly assesses the ability to realize its deferred tax assets and establishes a valuation allowance if it is more-likely-than-not that some portion of the deferred tax assets will not be realized. The Group weighs all available positive and negative evidence, including its earnings history and results of recent operations, projected future taxable income, and tax planning strategies. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">As of September 30, 2025 and March 31, 2025, the Group had accumulated net operating loss carryforwards of $7.5 million and $3.7 million, respectively. For entities incorporated in Hong Kong, net loss can be carried forward indefinitely. As of September 30, 2025, the Company continues to maintain a full valuation allowance against the deferred tax assets due to significant negative evidence, the Company’s assessment that it is not more likely than not that the deferred tax assets will be realized. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7.5pt; margin-left: 20pt; text-align: left;">The income tax provision consisted of the following components: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 336pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 97.34pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 336pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 97.34pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 336pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 33.1pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.6pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Current income tax expense</div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 33.1pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.06pt; text-align: left;">$—</div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.6pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 8.56pt; text-align: left;">$<span style="padding-left: 17.5pt;">— </span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Deferred income tax benefit</div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 33.1pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.06pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.6pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 8.56pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">77,138 </span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total income tax benefit</div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 33.1pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.06pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$—</span></div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.6pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 8.56pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$77,138</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 336pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 33.1pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 49.6pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> 0 0 0 -77138 0 -77138 <span style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">A reconciliation between the Group’s effective income tax rate and the provision under Hong Kong statutory tax rate is as follows: </span> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 336pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 101pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 336pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 101pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 336pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 5.5pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Loss before income tax benefit</div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$8,366,642</div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$1,225,393 </div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Tax at applicable income tax rate (16.5%)</div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 5pt;">1,380,496</span></div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">202,190</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Tax effect of different tax rates in other jurisdictions</div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 9.17pt;">(376,714)</span></div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 9.17pt;">(120,430)</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Tax effect on non-taxable income</div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 30pt;">315</span></div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 35pt;">26</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Tax effect on non-deductible expenses</div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 9.17pt;">(142,672)</span></div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 19.17pt;">(4,648)</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Tax effect on tax losses not recognized</div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 26.67pt;">(976)</span></div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Tax effect on change in valuation allowance</div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 9.17pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(860,449)</span></div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 35pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> </tr> <tr> <td style="width: 336pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Income tax benefit</div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 30pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">—</span></div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 12.5pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">77,138</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 336pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> -8366642 -1225393 0.165 1380496 202190 -376714 -120430 315 26 -142672 -4648 -976 0 -860449 0 0 -77138 <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">As of September 30, 2025 and March 31, 2025, the significant components of the deferred tax assets were summarized below: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 324pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 113.83pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 324pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 113.83pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">As of </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 324pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 5.08pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">March 31, 2025 </div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Net operating loss carried forward</div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.53pt; text-align: left;">$<span style="padding-left: 3.33pt;">1,239,510</span></div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.97pt; text-align: left;">$<span style="padding-left: 10.83pt;">614,768 </span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Temporary difference from share-based compensation expenses</div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.53pt; text-align: left;"><span style="padding-left: 8.33pt;">1,233,828</span></div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.97pt; text-align: left;"><span style="padding-left: 15.83pt;">848,574</span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Unrealized loss from the equity method investment</div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.53pt; text-align: left;"><span style="padding-left: 15.83pt;">122,819</span></div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.97pt; text-align: left;"><span style="padding-left: 38.33pt;">—</span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Others</div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.53pt; text-align: left;"><span style="padding-left: 25.83pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">2,635</span></div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.97pt; text-align: left;"><span style="padding-left: 20.83pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">19,236</span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Subtotal</div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0.53pt; text-align: left;"><span style="padding-left: 8.33pt;">2,598,792</span></div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 2.97pt; text-align: left;"><span style="padding-left: 8.33pt;">1,482,578</span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Less: valuation allowance</div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.53pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(2,598,792)</span></div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.97pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(1,482,578)</span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total deferred tax assets</div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0.53pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 33.33pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">—</span></div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 2.97pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 33.33pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">—</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 324pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 49.39pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 54.28pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> 1239510 614768 1233828 848574 122819 0 2635 19236 2598792 1482578 2598792 1482578 0 0 7500000 3700000 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 0pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">7.<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">DISAGGREGATED REVENUE </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">In addition to the information shown in the above disclosures, the revenue from contracts with customers within FASB ASC 606 and other sources of revenue is disaggregated as follow: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 11pt; margin-left: 0pt; text-align: left;"> <br/></div> <div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="margin-top: 9pt; width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 108pt;"> </td> <td style="height: 6pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="16" style="height: 6pt; width: 328.3pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 108pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="16" style="width: 328.3pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 108pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="7" style="width: 158.32pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="7" style="width: 158.32pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 108pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Point in </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">time</div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Over </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">time</div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Total</div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Point in </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">time</div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Over </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">time</div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Total </div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left; font-weight: bold;">Revenue from contracts with customers</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left; font-weight: bold;">Brokerage and commission income</div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Brokerage commission and handling charge income*</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;">$2,709,354</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; text-align: right;">$—</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;">$2,709,354</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: right;">$67,888</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: right;">$—</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 12.5pt;">67,888 </span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Brokerage commission and handling charge income – related party*</div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 5pt;">1,390,497 </span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; margin-left: 9pt; text-align: right; text-indent: -9pt;"><span style="text-indent: 0pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 5pt;">1,390,497 </span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">892,837</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">892,837</span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Bond distribution commission income</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 17.5pt;">65,534 </span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 17.5pt;">65,534 </span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: right; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt;"><span style="padding-left: 7.5pt;">328,659</span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">328,659</span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Margin financing services </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Interest income</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">507,872 </span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">507,872 </span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 30pt;">—</span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 22.5pt;">2,562</span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 22.5pt;">2,562</span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Interest income – related party</div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">452,808 </span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">452,808 </span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 30pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">520,183</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">520,183</span></div> </td> </tr> <tr> <td rowspan="1" style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <div style="margin-left: 9pt; text-indent: -9pt;"><span style="font-weight: bold;">Software licensing (including subscription based) and related support services</span> </div> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Software license</div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 17.5pt;">61,498 </span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 17.5pt;">61,498</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: right; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt;"><span style="padding-left: 7.5pt;">500,000</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">500,000</span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">M&amp;S</div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">200,000 </span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">200,000</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 30pt;">—</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 17.5pt;">46,134</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 17.5pt;">46,134</span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">M&amp;S – related party</div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">400,000 </span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">400,000</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 30pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">600,000</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">600,000</span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Other sources of revenue </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Principal transactions &amp; proprietary trading</div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 35pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 12.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">315,337 </span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 12.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">315,337</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 30pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 35pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 35pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total revenues</div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$4,165,385</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$1,937,515</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$6,102,900</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$1,789,384</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$1,168,879</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$2,958,263</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 108pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> </div> <div class="BRDSX_rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 20pt; margin-top: 13.25pt;"> <br/></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">*<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">Total handling charge income, including amounts from a related party, was $2,206,955 and $16,558 for the six months ended September 30, 2025 and 2024, respectively. </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">In addition to the information shown in the above disclosures, the revenue from contracts with customers within FASB ASC 606 and other sources of revenue is disaggregated as follow: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 11pt; margin-left: 0pt; text-align: left;"> <br/></div> <div class="BRDSX_block-main" style="width: 468pt; margin-left: 0pt;"> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="margin-top: 9pt; width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 108pt;"> </td> <td style="height: 6pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="16" style="height: 6pt; width: 328.3pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 108pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="16" style="width: 328.3pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 108pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="7" style="width: 158.32pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="7" style="width: 158.32pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 108pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Point in </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">time</div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Over </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">time</div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Total</div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Point in </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">time</div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Over </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">time</div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Total </div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left; font-weight: bold;">Revenue from contracts with customers</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left; font-weight: bold;">Brokerage and commission income</div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Brokerage commission and handling charge income*</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;">$2,709,354</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; text-align: right;">$—</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;">$2,709,354</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: right;">$67,888</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: right;">$—</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 12.5pt;">67,888 </span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Brokerage commission and handling charge income – related party*</div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 5pt;">1,390,497 </span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; margin-left: 9pt; text-align: right; text-indent: -9pt;"><span style="text-indent: 0pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 5pt;">1,390,497 </span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">892,837</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">892,837</span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Bond distribution commission income</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 17.5pt;">65,534 </span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 17.5pt;">65,534 </span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: right; vertical-align: bottom; background-color: rgb(204, 238, 255); white-space: nowrap;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt;"><span style="padding-left: 7.5pt;">328,659</span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">328,659</span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Margin financing services </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Interest income</div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">507,872 </span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">507,872 </span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 30pt;">—</span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 22.5pt;">2,562</span></div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 22.5pt;">2,562</span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Interest income – related party</div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">452,808 </span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">452,808 </span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 30pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">520,183</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">520,183</span></div> </td> </tr> <tr> <td rowspan="1" style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"> <div style="margin-left: 9pt; text-indent: -9pt;"><span style="font-weight: bold;">Software licensing (including subscription based) and related support services</span> </div> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 5.83pt; background-color: #CCEEFF;"> </td> <td rowspan="1" style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Software license</div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 17.5pt;">61,498 </span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 17.5pt;">61,498</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: right; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt;"><span style="padding-left: 7.5pt;">500,000</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">500,000</span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">M&amp;S</div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">200,000 </span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">200,000</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 30pt;">—</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 17.5pt;">46,134</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 17.5pt;">46,134</span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">M&amp;S – related party</div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 35pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">400,000 </span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">400,000</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 30pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 12.5pt;">600,000</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">600,000</span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Other sources of revenue </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Principal transactions &amp; proprietary trading</div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 35pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 12.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">315,337 </span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 12.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">315,337</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 30pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="padding-left: 35pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 35pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> </tr> <tr> <td style="width: 108pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total revenues</div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$4,165,385</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$1,937,515</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$6,102,900</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$1,789,384</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0.01pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$1,168,879</span></div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 5.83pt; background-color: rgb(204, 238, 255);"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$2,958,263</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 108pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 5.83pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> </div> <div class="BRDSX_rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 20pt; margin-top: 13.25pt;"> <br/></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">*<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">Total handling charge income, including amounts from a related party, was $2,206,955 and $16,558 for the six months ended September 30, 2025 and 2024, respectively. </div> </td> </tr> </table> 2709354 0 2709354 67888 0 67888 1390497 0 1390497 892837 0 892837 65534 0 65534 328659 0 328659 0 507872 507872 0 2562 2562 0 452808 452808 0 520183 520183 0 61498 61498 500000 0 500000 0 200000 200000 0 46134 46134 0 400000 400000 0 600000 600000 0 315337 315337 0 0 0 4165385 1937515 6102900 1789384 1168879 2958263 2206955 16558 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 0pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">8.<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">RELATED PARTY TRANSACTIONS </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7pt; margin-left: 20pt; text-align: left;">The table below sets forth major related parties of the Group and their relationships with the Group. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: -2pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_txttab" style="margin-top: -2pt; width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 218pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 218pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 218pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Names of related parties</div> </td> <td style="width: 6pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 218pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Relationship </div> </td> </tr> <tr> <td style="width: 218pt; padding-top: 1.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Zhou Kai</div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 218pt; padding-top: 1.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Principal shareholder, chief technology officer, chairman of the board </div> </td> </tr> <tr> <td style="width: 218pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 218pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 218pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Shenzhen Jinhui Technology Co., Ltd. (“Shenzhen Jinhui”)</div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 218pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">A company previously controlled by Zhou Kai, which ceased to be a related party in the fourth quarter in 2025. </div> </td> </tr> <tr> <td style="width: 218pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 218pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 218pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Wealth Guardian Investment Limited (“WGI”)</div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 218pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">The Group is able to exercise significant influence over WGI because two individuals, who are the senior management of WGI, are the shareholders of the Company holding more than or approximately 10% aggregate equity interests for the six months ended September 30, 2025. <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"> <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Effective October 2025, WGI has dissolved investment accounts in WSI, therefore, WGI is no longer a customer of WSI after October 2025.</div> </td> </tr> <tr> <td style="width: 218pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 218pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 218pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Waton Trust Limited</div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 218pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">An entity where Zhou Kai previously acted as a director. In the third quarter of 2025, Zhou Kai resigned from the directorship and remained as a 20% shareholder.</div> </td> </tr> <tr> <td style="width: 218pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 218pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 218pt; padding-top: 0.76pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">WIG SPC-SPs</div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 218pt; padding-top: 0.76pt; text-align: left; vertical-align: top;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">An entity incorporated in the Cayman Islands, with 100% of its issued management shares owned by WSI, established for the purpose of holding investment segregated portfolios (each, an “SP” and collectively, the “SPs”). The SPs are each formed for the purpose of investing in securities and are owned by different investors. Effective December 2024, WSI serves as the investment manager of the WIG SPC series SPs. During the six months ended September 30, 2025, there was no management income incurred, and WSI was subsequently re-appointed as a <span style="color: rgb(0, 0, 0); font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; display: inline !important; float: none;">co-inv</span>estment manager for Z Navigation Option.</div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 218pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 218pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_h5" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 13.5pt; margin-left: 20pt; text-align: left;"><span style="text-decoration: underline;">Transactions with WGI</span> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group conducts material transactions with WGI through WSI and/or WTI, which entities are service providers for WGI. These transactions and related balances are as follows: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: -2pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="margin-top: -2pt; width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 312pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 115.19pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 312pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 115.19pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">As of </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 312pt; padding-top: 1.83pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.83pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 10.4pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.83pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">March 31, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025 </div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 1.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Receivables – clients – unsettled trade</div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.76pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;">$<span style="padding-left: 30pt;">—</span></div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.76pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"> $1,549,709 </div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Receivables – clients – margin loan (net)^(i)(ii)</div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;"><span style="padding-left: 30pt;">349</span></div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 5pt;">3,276,678 </span></div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 0.76pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Receivables – software licensing (including subscription based) and related support services</div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 0.76pt; padding-bottom: 2.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">1,800,000</span></div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 0.76pt; padding-bottom: 2.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 12.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">600,000 </span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 312pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 49.39pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="margin-top: 11.25pt; width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 312pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 115.19pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 312pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 115.19pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">As of </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 312pt; padding-top: 1.83pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.83pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 10.4pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.83pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">March 31, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025 </div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 1.76pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Receivables – Total⁽ⁱⁱⁱ⁾</div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.76pt; padding-bottom: 2.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;"><span style="border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">$1,800,349</span></div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.76pt; padding-bottom: 2.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: justify;"><span style="border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">$5,426,387 </span></div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 2.01pt; padding-bottom: 1.13pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Contract assets </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.01pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;"><span style="padding-left: 12.5pt;">400,000</span></div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 5pt;">1,200,000</span></div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Payables – brokerage services</div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;">$<span style="padding-left: 12.5pt;">40,745</span></div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: justify;">$1,417,153 </div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 0.76pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Payables – Broker-dealer</div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 0.76pt; padding-bottom: 2.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;"><span style="padding-left: 35pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">— </span></div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 0.76pt; padding-bottom: 2.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 17.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">75,136</span></div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 2.01pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Payables – Total</div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 12.5pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">40,745</span></div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$1,492,289</span></div> </td> </tr> </table> </div> <div class="BRDSX_rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 20pt; margin-top: 9.75pt;"> <br/></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(i)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">WSI extended a credit line of <span style="-sec-ix-hidden:Fact_5b12785990794dd49a624c04652cc287">nil</span> and $4.3 million to WGI for margin transactions during the six months ended September 30, 2025 and 2024. </div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(ii)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">As of September 30, 2025 and March 31, 2025, the amounts consisted of margin loan receivables of <span style="-sec-ix-hidden:Fact_1ce2e54e791f43b390038ab53a75ac33">nil</span> and $3.5 million, net of client payables of <span style="-sec-ix-hidden:Fact_1a6c0a50d2994b8ca03b299c0c5c0f4e">nil</span> and $0.2 million, respectively. </div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(iii)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">As of September 30, 2025 and March 31, 2025, receivables from this customer, including margin loan receivables, have been either fully collateralized by the client-owned securities held in the customer’s account or fully collected. </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="margin-left: 20pt; width: 597px; border-spacing: 0;"> <tr class="BRDSX_header"> <td style="width: 324pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 107pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 324pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 8.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Revenues – brokerage commission and handling charge income</div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$1,388,432</div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 7.5pt;">892,837 </span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Revenues – interest income</div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">446,360</span></div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">520,183</span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Revenues – software licensing (including subscription based) and related support services</div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">400,000</span></div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">600,000</span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total</div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$2,234,792</span></div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$2,013,020</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 324pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">For the six months ended September 30, 2025 and 2024, the Group recognized software licensing and related support services revenue of $400,000 and $600,000, respectively, before invoicing to WGI. The amount was recorded under contract assets – related party in the unaudited condensed consolidated balance sheets. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Effective October 2025, WGI has dissolved investment accounts in the Group, therefore, WGI is no longer a customer of the Group after October 2025. </div> <div class="BRDSX_h5" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 14pt; margin-left: 20pt; text-align: left;"><span style="text-decoration: underline;">Transactions with Zhou Kai</span> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group conducts transactions with Zhou Kai through WSI. These transactions and related balance are as follows: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 324pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 9.75pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 9.75pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 104.51pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 324pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 9.75pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.75pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 104.51pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">As of </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 324pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 9.75pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.75pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 9.75pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.75pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 35.62pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">March 31, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025 </div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.01pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Receivables – clients – margin loan</div> </td> <td style="width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.94pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$2,839</span></div> </td> <td style="width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 35.62pt; padding-top: 2.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.31pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$—</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 324pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 49.39pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 35.62pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 324pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 103.34pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 324pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 103.34pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 324pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 47.1pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 10.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 35.6pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Revenues – brokerage commission and handling charge income</div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 47.1pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.81pt; text-align: left;">$2,065</div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 35.6pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.31pt; text-align: left;">$— </div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Revenues – interest income</div> </td> <td style="width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 47.1pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.81pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">6,448</span></div> </td> <td style="width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 35.6pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.31pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">— </span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total</div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 47.1pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.81pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$8,513</span></div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 35.6pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.31pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$—</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 324pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 47.1pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 35.6pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_h5" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: left;"><span style="text-decoration: underline;">Due to related parties</span> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 300pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.42pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.42pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 135.17pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 300pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 6.42pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 135.17pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">As of </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 300pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 6.42pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 68.05pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, 2025</div> </td> <td style="width: 6.42pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">March 31, 2025 </div> </td> </tr> <tr> <td style="width: 300pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Zhou Kai⁽ⁱ⁾</div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 68.05pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 11.52pt; text-align: left;">$<span style="padding-left: 12.5pt;">12,505</span></div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 4.64pt; text-align: left;">$<span style="padding-left: 12.5pt;">31,682 </span></div> </td> </tr> <tr> <td style="width: 300pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Shenzhen Jinhui⁽ⁱⁱ⁾</div> </td> <td style="width: 6.42pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 68.05pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 11.52pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">2,528,305</span></div> </td> <td style="width: 6.42pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 4.64pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">1,766,092 </span></div> </td> </tr> <tr> <td style="width: 300pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Due to related parties</div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 68.05pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 11.52pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$2,540,810</span></div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 4.64pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$1,797,774</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 300pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 68.05pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 54.28pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 20pt; margin-top: 13.25pt;"> <br/></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(i)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">The balance represents borrowings from Zhou Kai for the Group’s daily operational purposes. The borrowings are interest-free, unsecured and due on demand. During the six months ended September 30, 2025 and 2024, there was no advances from Zhou Kai. During the six months ended September 30, 2025 and 2024, the Group repaid borrowings from Zhou Kai of <span style="-sec-ix-hidden:Fact_ec5b0d11dbae410982c4f6f268ddf017">nil</span> and $1.8 million, respectively. </div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(ii)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">The balance represents unpaid service fees to Shenzhen Jinhui, a service provider and sub-contractor of the Group’s project management services. Based on the services agreement, Shenzhen Jinhui charges the Group certain percents of markup above its costs relating to service provided to the Group. During the six months ended September 30, 2025 and 2024, the Group purchased outsourcing and related support services of approximately $0.7 million and $0.5 million, respectively, from Shenzhen Jinhui which were recorded as software licensing and related support outsourcing costs. </div> </td> </tr> </table> 2 0.10 0.20 1 0 <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group conducts material transactions with WGI through WSI and/or WTI, which entities are service providers for WGI. These transactions and related balances are as follows: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: -2pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="margin-top: -2pt; width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 312pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 115.19pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 312pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 115.19pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">As of </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 312pt; padding-top: 1.83pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.83pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 10.4pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.83pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">March 31, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025 </div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 1.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Receivables – clients – unsettled trade</div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.76pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;">$<span style="padding-left: 30pt;">—</span></div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.76pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"> $1,549,709 </div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Receivables – clients – margin loan (net)^(i)(ii)</div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;"><span style="padding-left: 30pt;">349</span></div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 5pt;">3,276,678 </span></div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 0.76pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Receivables – software licensing (including subscription based) and related support services</div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 0.76pt; padding-bottom: 2.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">1,800,000</span></div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 0.76pt; padding-bottom: 2.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 12.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">600,000 </span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 312pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 49.39pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="margin-top: 11.25pt; width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 312pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 115.19pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 312pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 115.19pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">As of </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 312pt; padding-top: 1.83pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.83pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 10.4pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.83pt; padding-bottom: 2.13pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">March 31, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025 </div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 1.76pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Receivables – Total⁽ⁱⁱⁱ⁾</div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 1.76pt; padding-bottom: 2.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;"><span style="border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">$1,800,349</span></div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.76pt; padding-bottom: 2.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: justify;"><span style="border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">$5,426,387 </span></div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 2.01pt; padding-bottom: 1.13pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Contract assets </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.01pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;"><span style="padding-left: 12.5pt;">400,000</span></div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 5pt;">1,200,000</span></div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Payables – brokerage services</div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;">$<span style="padding-left: 12.5pt;">40,745</span></div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 0.76pt; padding-bottom: 1.13pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: justify;">$1,417,153 </div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 0.76pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Payables – Broker-dealer</div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 0.76pt; padding-bottom: 2.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;"><span style="padding-left: 35pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">— </span></div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 0.76pt; padding-bottom: 2.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 17.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">75,136</span></div> </td> </tr> <tr> <td style="width: 312pt; padding-top: 2.01pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Payables – Total</div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.2pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$</span><span style="padding-left: 12.5pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">40,745</span></div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.4pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$1,492,289</span></div> </td> </tr> </table> </div> <div class="BRDSX_rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 20pt; margin-top: 9.75pt;"> <br/></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(i)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">WSI extended a credit line of <span style="-sec-ix-hidden:Fact_5b12785990794dd49a624c04652cc287">nil</span> and $4.3 million to WGI for margin transactions during the six months ended September 30, 2025 and 2024. </div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(ii)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">As of September 30, 2025 and March 31, 2025, the amounts consisted of margin loan receivables of <span style="-sec-ix-hidden:Fact_1ce2e54e791f43b390038ab53a75ac33">nil</span> and $3.5 million, net of client payables of <span style="-sec-ix-hidden:Fact_1a6c0a50d2994b8ca03b299c0c5c0f4e">nil</span> and $0.2 million, respectively. </div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(iii)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">As of September 30, 2025 and March 31, 2025, receivables from this customer, including margin loan receivables, have been either fully collateralized by the client-owned securities held in the customer’s account or fully collected. </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="margin-left: 20pt; width: 597px; border-spacing: 0;"> <tr class="BRDSX_header"> <td style="width: 324pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 107pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 324pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 8.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Revenues – brokerage commission and handling charge income</div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$1,388,432</div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 7.5pt;">892,837 </span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Revenues – interest income</div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">446,360</span></div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt;">520,183</span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Revenues – software licensing (including subscription based) and related support services</div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">400,000</span></div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="padding-left: 12.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">600,000</span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total</div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$2,234,792</span></div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 45pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$2,013,020</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 324pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 8.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 45pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group conducts transactions with Zhou Kai through WSI. These transactions and related balance are as follows: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 324pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 9.75pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 9.75pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 104.51pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 324pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 9.75pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.75pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 104.51pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">As of </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 324pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 9.75pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.75pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 9.75pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.75pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 35.62pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">March 31, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025 </div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.01pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Receivables – clients – margin loan</div> </td> <td style="width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.39pt; padding-top: 2.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.94pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$2,839</span></div> </td> <td style="width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 35.62pt; padding-top: 2.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.31pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$—</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 324pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 49.39pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.75pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 35.62pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 324pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 103.34pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 324pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 103.34pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 324pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 47.1pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 10.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 35.6pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Revenues – brokerage commission and handling charge income</div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 47.1pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.81pt; text-align: left;">$2,065</div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 35.6pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.31pt; text-align: left;">$— </div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Revenues – interest income</div> </td> <td style="width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 47.1pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.81pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">6,448</span></div> </td> <td style="width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 35.6pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.31pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">— </span></div> </td> </tr> <tr> <td style="width: 324pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total</div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 47.1pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.81pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$8,513</span></div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 35.6pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10.31pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$—</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 324pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 47.1pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 10.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 35.6pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 300pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.42pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.42pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 135.17pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 300pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 6.42pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 135.17pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">As of </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 300pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 6.42pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 68.05pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, 2025</div> </td> <td style="width: 6.42pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">March 31, 2025 </div> </td> </tr> <tr> <td style="width: 300pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Zhou Kai⁽ⁱ⁾</div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 68.05pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 11.52pt; text-align: left;">$<span style="padding-left: 12.5pt;">12,505</span></div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 4.64pt; text-align: left;">$<span style="padding-left: 12.5pt;">31,682 </span></div> </td> </tr> <tr> <td style="width: 300pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Shenzhen Jinhui⁽ⁱⁱ⁾</div> </td> <td style="width: 6.42pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 68.05pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 11.52pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">2,528,305</span></div> </td> <td style="width: 6.42pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 4.64pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">1,766,092 </span></div> </td> </tr> <tr> <td style="width: 300pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Due to related parties</div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 68.05pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 11.52pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$2,540,810</span></div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 54.28pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 4.64pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$1,797,774</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 300pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 68.05pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.42pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 54.28pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 20pt; margin-top: 13.25pt;"> <br/></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(i)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">The balance represents borrowings from Zhou Kai for the Group’s daily operational purposes. The borrowings are interest-free, unsecured and due on demand. During the six months ended September 30, 2025 and 2024, there was no advances from Zhou Kai. During the six months ended September 30, 2025 and 2024, the Group repaid borrowings from Zhou Kai of <span style="-sec-ix-hidden:Fact_ec5b0d11dbae410982c4f6f268ddf017">nil</span> and $1.8 million, respectively. </div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(ii)<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">The balance represents unpaid service fees to Shenzhen Jinhui, a service provider and sub-contractor of the Group’s project management services. Based on the services agreement, Shenzhen Jinhui charges the Group certain percents of markup above its costs relating to service provided to the Group. During the six months ended September 30, 2025 and 2024, the Group purchased outsourcing and related support services of approximately $0.7 million and $0.5 million, respectively, from Shenzhen Jinhui which were recorded as software licensing and related support outsourcing costs. </div> </td> </tr> </table> 0 1549709 349 3276678 1800000 600000 1800349 5426387 400000 1200000 40745 1417153 0 75136 40745 1492289 4300000 3500000 200000 1388432 892837 446360 520183 400000 600000 2234792 2013020 400000 600000 2839 0 2065 0 6448 0 8513 0 12505 31682 2528305 1766092 2540810 1797774 0 0 1800000 700000 500000 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">9.<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">Equity Incentive Plan </div> </td> </tr> </table> <div class="BRDSX_h3" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 19pt; margin-left: 20pt; text-align: left;">2024 Global Equity Incentive Plan </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">In November 2024, the Company adopted the 2024 Global Equity Incentive Plan (the “2024 Plan”), which provides for the grant of share options, share appreciation rights, restricted share units, restricted shares or other share-based awards with a life of ten years from the date of its adoption on November 18, 2024. The initial maximum number of ordinary shares may be granted and issuable pursuant to the 2024 Plan is 10,245,000 ordinary shares. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">According to the 2024 Plan, the Company has granted 4,884,030 restricted shares in total to certain of the directors, employees and a consultant of the Company, of which 909,204 ordinary shares were immediately vested, exercised and issued on November 18, 2024. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">During the six months ended September 30, 2025 and 2024, the Company recorded $6.1 million and <span style="-sec-ix-hidden:Fact_56180b4609384d909c6b8dec406ee617">nil</span> share-based compensation expenses, respectively, which is included in the operating costs and expenses in the unaudited condensed consolidated statements of operations and comprehensive loss. WSI did not recognize any income tax benefits from stock-based compensation arrangements during the six months ended September 30, 2025 and 2024 as it is not deductible for income tax purpose in WSI. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">As of September 30, 2025, total unrecognized compensation remaining to be recognized in future period for the 2024 Plan totaled $1.5 million, which is expected to be recognized over the weighted average period of 1.2 years. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: left;">A summary of the activities of the 2024 Plan as of September 30, 2025 and March 31, 2025 is as follows: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 180pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="10" style="height: 6pt; width: 252.35pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 180pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="10" style="width: 252.35pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">As of September 30, 2025 </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 180pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 43.33pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Number of <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">restricted <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">shares</div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 51.08pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Weighted <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">average<br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">grant date fair <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">value</div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 61.76pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Weighted average <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">remaining life (in <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">years)</div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.32pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Aggregate <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">intrinsic value </div> </td> </tr> <tr> <td style="width: 180pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Outstanding, beginning of period</div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 43.33pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 3.33pt;">3,974,826</span></div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 51.08pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 14.3pt; text-align: left;">$3.23</div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 61.76pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 22.13pt; text-align: left;">0.88</div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.32pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.17pt; text-align: left;">$9,894,439 </div> </td> </tr> <tr> <td style="width: 180pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Granted</div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 43.33pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 33.33pt;">—</span></div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 51.08pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 14.3pt; text-align: left;">$<span style="padding-left: 7.5pt;">—</span></div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 61.76pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.32pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 180pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Vested</div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 43.33pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(2,696,442)</span></div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 51.08pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 14.3pt; text-align: left;">$3.20</div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 61.76pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.32pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 180pt; padding-top: 2.26pt; padding-bottom: 3.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Outstanding, end of period</div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 43.33pt; padding-top: 2.26pt; padding-bottom: 3.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 3.33pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">1,278,384</span></div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 51.08pt; padding-top: 2.26pt; padding-bottom: 3.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 14.3pt; text-align: left;">$3.27</div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 61.76pt; padding-top: 2.26pt; padding-bottom: 3.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 22.13pt; text-align: left;">0.63</div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.32pt; padding-top: 2.26pt; padding-bottom: 3.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.17pt; text-align: left;">$3,220,027 </div> </td> </tr> <tr> <td style="width: 180pt; padding-top: 3.26pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Exercisable or convertible, end of period</div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 43.33pt; padding-top: 3.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 33.33pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 51.08pt; padding-top: 3.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 14.3pt; text-align: left;"><span style="border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">$</span><span style="padding-left: 7.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 61.76pt; padding-top: 3.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.32pt; padding-top: 3.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 180pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 43.33pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 51.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 61.76pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 49.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> P10Y 10245000 4884030 909204 909204 909204 6100000 0 0 1500000 P1Y2M12D <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: left;">A summary of the activities of the 2024 Plan as of September 30, 2025 and March 31, 2025 is as follows: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 180pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="10" style="height: 6pt; width: 252.35pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 180pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="10" style="width: 252.35pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">As of September 30, 2025 </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 180pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 43.33pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Number of <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">restricted <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">shares</div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 51.08pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Weighted <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">average<br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">grant date fair <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">value</div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 61.76pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Weighted average <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">remaining life (in <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">years)</div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; border-bottom: none;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.32pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Aggregate <br/> </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">intrinsic value </div> </td> </tr> <tr> <td style="width: 180pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Outstanding, beginning of period</div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 43.33pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 3.33pt;">3,974,826</span></div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 51.08pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 14.3pt; text-align: left;">$3.23</div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 61.76pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 22.13pt; text-align: left;">0.88</div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.32pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.17pt; text-align: left;">$9,894,439 </div> </td> </tr> <tr> <td style="width: 180pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Granted</div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 43.33pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 33.33pt;">—</span></div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 51.08pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 14.3pt; text-align: left;">$<span style="padding-left: 7.5pt;">—</span></div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 61.76pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.32pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 180pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Vested</div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 43.33pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(2,696,442)</span></div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 51.08pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 14.3pt; text-align: left;">$3.20</div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 61.76pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.32pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr> <td style="width: 180pt; padding-top: 2.26pt; padding-bottom: 3.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Outstanding, end of period</div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 43.33pt; padding-top: 2.26pt; padding-bottom: 3.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 3.33pt; border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">1,278,384</span></div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 51.08pt; padding-top: 2.26pt; padding-bottom: 3.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 14.3pt; text-align: left;">$3.27</div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 61.76pt; padding-top: 2.26pt; padding-bottom: 3.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 22.13pt; text-align: left;">0.63</div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.32pt; padding-top: 2.26pt; padding-bottom: 3.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 2.17pt; text-align: left;">$3,220,027 </div> </td> </tr> <tr> <td style="width: 180pt; padding-top: 3.26pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Exercisable or convertible, end of period</div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 43.33pt; padding-top: 3.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: -0.01pt; text-align: left;"><span style="padding-left: 33.33pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 51.08pt; padding-top: 3.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 14.3pt; text-align: left;"><span style="border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">$</span><span style="padding-left: 7.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 61.76pt; padding-top: 3.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 49.32pt; padding-top: 3.26pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> </div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 180pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 43.33pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 51.08pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 61.76pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 7.81pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 49.32pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> 3974826 3.23 P0Y10M17D 9894439 0 0 2696442 3.2 1278384 3.27 P0Y7M17D 3220027 0 0 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 0pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">10.<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">SEGMENT INFORMATION </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Company operates and manages its business as one reportable and operating segment concentrating on the provisions of securities brokerage services and financial technology services. The measure of segment assets is reported on the balance sheet as total consolidated assets. The Company derives revenue primarily in Hong Kong and manages its business activities on a consolidated basis. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Company’s CODM is a management committee that consists of Chief Executive Officer, Chief Technology Officer, and a number of other senior officers of the Company, by whom review financial information presented on a consolidated basis and decides how to allocate resources based on net income (loss). Consolidated net income (loss) is used for evaluating financial performance. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">When evaluating the Company’s performance and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 288pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.31pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.31pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 147.38pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 288pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 6.31pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 147.38pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 288pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 6.31pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 6.31pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Brokerage and commission income</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;">$<span style="padding-left: 3.33pt;">4,165,385</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;">$<span style="padding-left: 3.33pt;">1,289,384 </span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Principal transactions and proprietary trading</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 15.83pt;">315,337</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 38.33pt;">—</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Interest income</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 15.83pt;">960,680</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 15.83pt;">522,745</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Software licensing (including subscription based) and related support services income</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 15.83pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">661,498</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 8.33pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">1,146,134</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total revenues</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 8.33pt;">6,102,900</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 8.33pt;">2,958,263</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Commissions and brokerage fees</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 5pt;">(1,639,072)</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt;">(172,712)</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Software licensing (including subscription based) and related support outsourcing cost</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt;">(487,860)</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt;">(507,822)</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Interest expenses</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt;">(353,587)</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 17.5pt;">(85,657)</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Share-based compensation expenses</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 5pt;">(6,104,672)</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 38.33pt;">—</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Research and development expenses</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt;">(387,425)</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 38.33pt;">—</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Other operating costs and expenses</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(4,840,440)</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 5.37pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(3,114,326)</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Operating loss</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 5pt;">(7,710,156)</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt;">(922,254)</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Other income (loss), net</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(656,486)</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(303,139)</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Loss before income tax expense</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 5pt;">(8,366,642)</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 5pt;">(1,225,393)</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Income tax benefit</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 38.33pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 20.83pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">77,138</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Net loss</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$(8,366,642)</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$(1,148,255)</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 288pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 67.38pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 67.38pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">As of September 30, 2025 and March 31, 2025, all long-lived assets and all of the revenues generated are attributed to the Group’s operations in Hong Kong. </div> 1 1 <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">When evaluating the Company’s performance and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 288pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.31pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 6.31pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 147.38pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 288pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 6.31pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 147.38pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">For the six months ended September 30, </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 288pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 6.31pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 6.31pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2024 </div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Brokerage and commission income</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;">$<span style="padding-left: 3.33pt;">4,165,385</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;">$<span style="padding-left: 3.33pt;">1,289,384 </span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Principal transactions and proprietary trading</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 15.83pt;">315,337</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 38.33pt;">—</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Interest income</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 15.83pt;">960,680</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 15.83pt;">522,745</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Software licensing (including subscription based) and related support services income</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 15.83pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">661,498</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 8.33pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">1,146,134</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total revenues</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 8.33pt;">6,102,900</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 8.33pt;">2,958,263</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Commissions and brokerage fees</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 5pt;">(1,639,072)</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt;">(172,712)</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Software licensing (including subscription based) and related support outsourcing cost</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt;">(487,860)</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt;">(507,822)</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Interest expenses</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt;">(353,587)</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 17.5pt;">(85,657)</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Share-based compensation expenses</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 5pt;">(6,104,672)</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 38.33pt;">—</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Research and development expenses</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt;">(387,425)</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 38.33pt;">—</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Other operating costs and expenses</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(4,840,440)</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 5.37pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(3,114,326)</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Operating loss</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 5pt;">(7,710,156)</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt;">(922,254)</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Other income (loss), net</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(656,486)</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 12.5pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">(303,139)</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Loss before income tax expense</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 5pt;">(8,366,642)</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 5pt;">(1,225,393)</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Income tax benefit</div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 38.33pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">—</span></div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 1.01pt; padding-bottom: 2.63pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="padding-left: 20.83pt; border-bottom: 1pt solid #000000; padding-bottom: 1.5pt;">77,138</span></div> </td> </tr> <tr> <td style="width: 288pt; padding-top: 2.26pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Net loss</div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$(8,366,642)</span></div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 67.38pt; padding-top: 2.26pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 9.53pt; text-align: left;"><span style="border-bottom: 3pt double #000000; padding-bottom: 0.5pt;">$(1,148,255)</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 288pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 67.38pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 6.31pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 67.38pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> 4165385 1289384 315337 0 960680 522745 661498 1146134 6102900 2958263 1639072 172712 487860 507822 353587 85657 6104672 0 387425 0 4840440 3114326 -7710156 -922254 -656486 -303139 -8366642 -1225393 0 -77138 -8366642 -1148255 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">11.<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">COLLATERALIZED TRANSACTIONS </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">WSI engages in margin financing transactions with its clients. Margin loans generated from margin lending activity for securities traded in the secondary market are collateralized by client-owned securities. WSI monitors the required margin and collateral level on a daily basis in compliance with regulatory and internal guidelines. Under applicable agreements, clients are required to deposit additional collateral or reduce holding positions, when necessary to avoid forced liquidation of their positions. Pursuant to the authorization obtained from margin clients, the Company further repledges the collaterals to financial institutions to obtain the funding for the margin or other businesses. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: justify;">The following table summarizes the amounts of margin loans and clients’ collaterals received and repledged by the Group as of September 30, 2025 and March 31, 2025: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 300pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 129pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 300pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 9.5pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 129pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">As of </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 300pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 9.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">March 31, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025 </div> </td> </tr> <tr> <td style="width: 300pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Margin loan extended to margin clients*</div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 5pt;">12,716,345</span></div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 10pt;">4,364,851 </span></div> </td> </tr> <tr> <td style="width: 300pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total value of securities held by margin clients</div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$171,210,761</div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$133,458,270 </div> </td> </tr> <tr> <td style="width: 300pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Margin loan received from financial institutions**</div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 5.37pt;">11,504,379</span></div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 10pt;">7,234,684 </span></div> </td> </tr> <tr> <td style="width: 300pt; padding-top: 1.01pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total value of securities repledged to financial institutions</div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 5pt;">17,120,792</span></div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 5pt;">10,179,699</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 300pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 55pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 55pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 20pt; margin-top: 12.75pt;"> <br/></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">*<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">The amount includes margin loan receivables from WGI totaling <span style="-sec-ix-hidden:Fact_311262355191435a80eb0dda0a05a46d">nil</span> million and $3.5 million, net of client payables to WGI amounting to <span style="-sec-ix-hidden:Fact_9792e8e5c4c74a8aa2d864d86db40c49">nil</span> and $0.2 million, as of September 30, 2025 and March 31, 2025, respectively. </div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">**<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">Recorded in Payable to Brokers and Clearing Organizations. </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 20pt; text-align: justify;">The following table summarizes the amounts of margin loans and clients’ collaterals received and repledged by the Group as of September 30, 2025 and March 31, 2025: </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-align: left;"> <br/></div> <table cellpadding="0" cellspacing="0" class="BRDSX_fintab" style="width: 448pt; margin-left: 20pt; border-spacing: 0;"> <tr class="BRDSX_boxspacer"> <td style="height: 6pt; width: 300pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 6pt; width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="height: 6pt; width: 129pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 300pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 9.5pt; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td colspan="4" style="width: 129pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">As of </div> </td> </tr> <tr class="BRDSX_header"> <td style="width: 300pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;"> </div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">September 30, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025</div> </td> <td style="width: 9.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt; border-bottom: none; white-space: nowrap;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 2.08pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">March 31, </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">2025 </div> </td> </tr> <tr> <td style="width: 300pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Margin loan extended to margin clients*</div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 5pt;">12,716,345</span></div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 10pt;">4,364,851 </span></div> </td> </tr> <tr> <td style="width: 300pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total value of securities held by margin clients</div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$171,210,761</div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$133,458,270 </div> </td> </tr> <tr> <td style="width: 300pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Margin loan received from financial institutions**</div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 5.37pt;">11,504,379</span></div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt; background-color: #CCEEFF;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 10pt;">7,234,684 </span></div> </td> </tr> <tr> <td style="width: 300pt; padding-top: 1.01pt; text-align: left; vertical-align: bottom;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total value of securities repledged to financial institutions</div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 5pt;">17,120,792</span></div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="width: 55pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; white-space: nowrap;"> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<span style="padding-left: 5pt;">10,179,699</span></div> </td> </tr> <tr class="BRDSX_boxspacer"> <td style="height: 2.75pt; width: 300pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 55pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 9.5pt;"> <div style="font-size: 1pt;"> </div> </td> <td style="height: 2.75pt; width: 55pt;"> <div style="font-size: 1pt;"> </div> </td> </tr> </table> <div class="BRDSX_rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 20pt; margin-top: 12.75pt;"> <br/></div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">*<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">The amount includes margin loan receivables from WGI totaling <span style="-sec-ix-hidden:Fact_311262355191435a80eb0dda0a05a46d">nil</span> million and $3.5 million, net of client payables to WGI amounting to <span style="-sec-ix-hidden:Fact_9792e8e5c4c74a8aa2d864d86db40c49">nil</span> and $0.2 million, as of September 30, 2025 and March 31, 2025, respectively. </div> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 20pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">**<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">Recorded in Payable to Brokers and Clearing Organizations. </div> </td> </tr> </table> 12716345 4364851 171210761 133458270 11504379 7234684 17120792 10179699 3500000 200000 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">12.<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">REGULATORY CAPITAL REQUIREMENTS </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group’s broker-dealer subsidiary, WSI, which is located in Hong Kong, is subject to capital requirements determined by its respective regulator, the Securities and Futures (Financial Resources) Rules and the Securities and Future Ordinance. Regulatory capital requirements could restrict the operating subsidiary from expanding its business and declaring dividends if its required capital does not meet regulatory requirements. As of September 30, 2025 and March 31, 2025, WSI is required to maintain minimum liquid capital of $385,609 (HK$3.0 million) and was in compliance with its regulatory capital requirements. </div> 385609 385609 3000000 3000000 <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">13.<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">COMMITMENTS AND CONTINGENCIES </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">From time to time, the Group may be a party to various legal actions arising in the ordinary course of business. Litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm business. The Group accrues costs associated with these matters when they become probable and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">On May 7, 2024, WSI obtained a bank overdrafts limit of approximately $2.6 million (equivalent to HK$20.0 million) from a financial institution in Hong Kong. When WSI utilizes the bank overdraft, interest will be charged at the bank’s best lending rate plus 2.5% per annum. As of September 30, 2025 and March 31, 2025, the Company utilized $1.6 million and <span style="-sec-ix-hidden:Fact_f0bc272178ee44729e59d2331be0ab99">nil</span> bank overdraft limit, respectively. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">For the six months ended September 30, 2025 and 2024, except for the matters mentioned above, the Group is not aware of any material legal claims or litigation that, individually or in the aggregate, could have a material adverse impact on the Group’s unaudited condensed consolidated financial position, results of operations, and cash flows. </div> 2600000 20000000 0.025 1.6 <div><br/> </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">14.<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">SUBSEQUENT EVENTS </div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">The Group has evaluated subsequent events through March 2, 2026 the date of issuance of the unaudited condensed consolidated financial statements.</div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">In January 2026, WSI, a wholly-owned subsidiary entered into a facility letter agreement amendment (“facility letter”) with certain banking corporation in Hong Kong, to increase its existing banking facilities from HK$20 million to HK$40 million. The facilities are revolving in nature and intended to support WSI’s trading activities. This increase provides additional liquidity to WSI but does not impact the consolidated financial position as of September 30, 2025. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">Except for the matters mentioned above and those disclosed elsewhere in the unaudited condensed consolidated financial statements, there were no other subsequent events occurred that would require recognition or disclosure in the Group’s unaudited condensed consolidated financial statements.</div> <div><br/> </div> <table border="0" cellpadding="0" cellspacing="0" style="margin-top: 0pt; margin-left: 0pt; border-spacing: 0;"> <tr> <td style="width: 20pt; text-align: left; vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">15.<br/> </div> </td> <td style="vertical-align: top;"> <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: justify;">EVENTS SUBSEQUENT TO THE ISSUANCE OF UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025 INCLUDED IN THE POST-EFFECTIVE AMENDMENT NO.1 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECRUITIES ACT OF 1933 FILED ON MARCH 2, 2026</div> </td> </tr> </table> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">On April 16, 2026, Waton AI Genius Holding Limited (“Waton AI”), a wholly-owned subsidiary of the Company incorporated in the British Virgin Islands, converted the outstanding principal amount of a convertible promissory note into 7,500,000 preferred shares (the “Preferred Shares”) of PandaAI Quantum Holdings Limited (the “Invested Company”), an exempted company incorporated in the Cayman Islands, at a conversion price of US$0.376350156 per share. The underlying Preferred Share Purchase Agreement was entered into on November 19, 2025, and the note closing (principal amount of US$2,822,626) had been consummated prior to the conversion.</div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">On April 19, 2026, the Company entered into a Finder’s Services Agreement (the “Finder’s Agreement”) with OCASIA Group Holdings Ltd. (the “Finder”), a company incorporated under the laws of the Republic of the Marshall Islands, and Love &amp; Health Limited (“SPAC”). Pursuant to the Finder’s Agreement, the Finder agreed to assist the SPAC in identifying and facilitating introductions to one or more potential operating businesses suitable for a business combination. If the SPAC consummates a business combination with a target introduced by the Finder, the Company will pay the Finder a success fee equal to 1% of the pre-money valuation of the target at closing if such valuation exceeds $400 million, or an appropriate rate negotiated in good faith if the valuation is below $400 million. In addition, within 30 days of execution of the Finder’s Agreement, the Company agreed to pay the Finder an upfront cash payment of $1,200,000, to be credited against any success fee ultimately payable. The remaining balance of any success fee is payable at closing of the business combination, at the Finder’s election, in restricted stock units issued under the Company’s 2024 global equity incentive plan, cash, or another form mutually agreed upon in writing. </div> <div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 20pt; text-align: justify;">On May 4, 2026, WTF Asia Holding Limited (“WTF Asia”), a wholly owned subsidiary of the Company, is incorporated in the BVI with limited liability and the principal business is investment holding. On May 18, 2026, WTF Asia acquired 42.4% equity interest of CTFEX Holding Pte. Limited (“CTFEX”), a limited liability company incorporated in Singapore, for a consideration of SGD500,000.</div> 20000000 40000000 7500000 0.376350156 2822626 1 0.01 400000000 400000000 P30D 1200000 0.424 500000 Total handling charge income, including amounts from a related party, was $2,206,955 and $16,558 for the six months ended September 30, 2025 and 2024, respectively. WSI extended a credit line of nil and $4.3 million to WGI for margin transactions during the six months ended September 30, 2025 and 2024. As of September 30, 2025 and March 31, 2025, the amounts consisted of margin loan receivables of nil and $3.5 million, net of client payables of nil and $0.2 million, respectively. As of September 30, 2025 and March 31, 2025, receivables from this customer, including margin loan receivables, have been either fully collateralized by the client-owned securities held in the customer’s account or fully collected. As of September 30, 2025, Love & Health Limited has not completed its initial public offering with Nasdaq. The balance represents unpaid service fees to Shenzhen Jinhui, a service provider and sub-contractor of the Group’s project management services. Based on the services agreement, Shenzhen Jinhui charges the Group certain percents of markup above its costs relating to service provided to the Group. During the six months ended September 30, 2025 and 2024, the Group purchased outsourcing and related support services of approximately $0.7 million and $0.5 million, respectively, from Shenzhen Jinhui which were recorded as software licensing and related support outsourcing costs. The balance represents borrowings from Zhou Kai for the Group’s daily operational purposes. The borrowings are interest-free, unsecured and due on demand. During the six months ended September 30, 2025 and 2024, there was no advances from Zhou Kai. During the six months ended September 30, 2025 and 2024, the Group repaid borrowings from Zhou Kai of nil and $1.8 million, respectively. Contract liabilities were included within the accrued expenses and other current liabilities. Recorded in Payable to Brokers and Clearing Organizations. The amount includes margin loan receivables from WGI totaling nil million and $3.5 million, net of client payables to WGI amounting to nil and $0.2 million, as of September 30, 2025 and March 31, 2025, respectively.