v3.26.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:          
Net income (loss) $ (7,584,468) $ (3,003,132) $ (10,900,606) $ 845,331 $ 1,269,926
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization 137,151 130,559 310,940 387,779 379,947
Loss (gain) from disposal of property and equipment (6,150) 878 (41) 0 4,742
Amortization of right-of-use assets 81,063 77,387 176,299 221,924 252,356
Allowance for credit losses and doubtful accounts 1,265,198 125,485 1,758,927 (175,819) (117,510)
Provision (reversal) of inventory reserve 4,195 (2,188) (1,559) (2,352) (1,457)
Stock-based compensation 1,001,162 2,078,200 2,672,450 0 0
Issuance of Class A Ordinary Share for services 4,260,000 0 3,643,333 0 0
Deferred income tax provision (benefit) (1,890) (8,826) 48,979 (2,530) 34,490
Accrued interest income 11,664 0 (78,001) 0 0
Gain on derivative liabilities (867,251) 0 356,134 0 0
Amortization of debt issuance cost 465,004 0 230,700 0 0
Accrued interest expense for convertible note payable 88,048 0 70,247 0 0
Debt restructuring loss     79,983 0 0
Changes in operating assets and liabilities:          
Accounts receivable (1,023,115) 239,785 137,440 674,111 (1,328,948)
Accounts receivable-related parties, net 170,637 (327,586) (17,059) 363,896 6,355
Inventories (450,335) 218,768 155,901 235,154 145,697
Advance to vendors (1,510,160) (222,024) (602,900) 144,178 (257,233)
Advance to vendors-related parties (309,137) 121,688 189,822 407,932 (65,643)
Prepaid expenses and other current assets (166,749) (63,265) (220,704) (172,823) (70,021)
Long-term accounts receivable 0 30,552 16,675 110,104 106,319
Finance receivables 24,424 46,552 72,070 100,258 42,663
Other non-current assets 0 5,557 8,317 128,170 (328,340)
Accounts payable 355,132 189,726 92,155 (721,380) 758,843
Accounts payable-related parties (117,607) 37,582 139,672 (7,750) (82,264)
Deferred revenue 73,266 156,803 405,770 43,095 167,023
Payroll payable 28,104 57,614 62,377 (97,864) 84,610
Taxes payable 16,778 (6,581) (49,323) (1,025) 58,619
Accrued expenses and other current liabilities (104,363) 176,923 129,082 (90,163) (4,728)
Operating lease liabilities (66,542) (63,767) (164,194) (169,808) (271,506)
Other long-term payable     (6,318) 0 0
Net cash used in operating activities (4,225,941) (3,310) (1,283,432) 2,220,418 783,940
Cash flows from investing activities:          
Purchase of property and equipment (93,044) (50,975) (98,237) (55,216) (353,974)
Proceeds from disposal of property and equipment 6,950 0 0 0 18,453
Payment made for short-term loans to third parties (493,443) (546,438) 204,629 (1,170,183) 0
Payment made for long-term loans to third parties 0 (146,483) (484,496) 13,565 0
Purchase of short-term investments (416,979) (1,557,033) (1,940,158) (3,019,257) (1,599,964)
Redemption of short-term investments 1,546,490 0 0 2,656,228 3,356,390
Payments made to related parties (190,517) (2,439,307) (2,844,952) (42,078) (257,946)
Net cash provided by (used in) investing activities 359,457 (4,740,236) (5,163,214) (1,616,941) 1,162,959
Cash flows from financing activities:          
Proceeds from short-term bank loan 0 29,961 138,566 6,990 145,930
Repayment of short-term bank loan     0 (146,791) 0
Net proceeds from initial public offerings, net of issuance costs 0 4,436,972 4,436,973 458,341 548,367
Net proceeds from issuance of convertible note     4,206,970 0 0
Refund of capital contribution - capital reduction 0 (31,158) (179,185) (98,220) 0
Capital contribution 12,325 0 5,304 0 0
Payments made for deferred offering costs 0 (183,071) (183,071) (6,527) (97,510)
Proceeds from loans from related parties 202,136 9,819 253,427 (163,362) (75,894)
Net cash provided by financing activities 214,461 4,262,523 8,678,984 50,431 520,893
Effect of changes of foreign exchange rates on cash, cash equivalents and restricted cash 55,851 101,065 5,999 (241,643) (185,351)
Net decrease in cash, cash equivalents and restricted cash (3,596,172) (379,958) 2,238,337 412,265 2,282,441
Cash, cash equivalents and restricted cash, beginning of period 7,600,438 5,362,101 5,362,101 4,949,836 2,667,395
Cash, cash equivalents and restricted cash, end of period 4,004,266 4,982,143 7,600,438 5,362,101 4,949,836
Supplemental disclosure of cash flow information          
Cash paid for income tax 29,799 38,993 97,068 115,933 81,386
Cash paid for interest     163 774 0
Supplemental non-cash financing activity:          
Right of use assets obtained in exchange for operating lease liabilities 16,780 5,783 409,444 223,681 257,883
Reduction of right-of-use assets and operating lease obligations due to early termination of lease agreement 0 11,219 143,756 60,137 7,204
Deferred IPO cost offset with additional paid-in capital 0 613,169 613,169 0 0
Reconciliation of cash, cash equivalents and restricted cash, beginning of period          
Cash and cash equivalents 7,600,438 5,362,101 5,362,101 4,949,836 2,667,395
Restricted cash 0 0 0 0 0
Cash, cash equivalents and restricted cash, end of period 7,600,438 5,362,101 5,362,101 4,949,836 2,667,395
Reconciliation of cash, cash equivalents and restricted cash, end of period          
Cash and cash equivalents 4,004,126 4,682,143 7,600,300 5,362,101 4,949,836
Restricted cash $ 140 $ 300,000 $ 138 $ 0 $ 0