v3.26.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2026
Mar. 31, 2025
Current assets    
Cash $ 3,562,219 $ 701,302
Accounts receivable 8,963
Finance lease receivables, current 44,454 166,339
Prepayments, other receivables and other current assets 471,001 781,587
Current assets - discontinued operations 499,473
Total current assets 4,092,171 2,238,762
Property and equipment, net 812,934 1,649,987
Other assets    
Intangible assets, net 300,000 375,000
Finance lease receivables, non-current 5,052 23,193
Other assets - discontinued operations 1,084,876
Total other assets 352,572 1,912,043
Total assets 5,257,677 5,800,792
Current liabilities    
Accounts payable 103,563 124,470
Advances from customers 86,768 103,897
Accrued expenses and other liabilities 1,166,464 1,771,072
Derivative liabilities 5,615,288 84,591
Current liabilities - discontinued operations 3,123,363
Total current liabilities 7,777,200 5,218,172
Total liabilities 7,777,200 5,218,172
Commitments and contingencies (note 17)
Stockholders’ deficit    
Common stock (par value $0.0001 per share, 50,000,000 shares authorized; 4,557,489 and 1,051,804 shares issued and outstanding at March 31, 2026 and 2025, respectively) [1] 456 105
Additional paid-in capital 45,397,481 43,951,069
Accumulated deficit (50,379,773) (45,109,573)
Accumulated other comprehensive loss (851,569) (1,697,164)
Total Senmiao Technology Limited stockholders’ deficit (5,833,405) (2,855,563)
Non-controlling interests 3,270,939 3,203,819
Total (deficit) equity (2,562,466) 348,256
Total liabilities, mezzanine equity and equity/ deficit 5,257,677 5,800,792
Series A Convertible Preferred Stock    
Mezzanine Equity    
Series A convertible preferred stock (par value $1,000 per share, 5,000 shares authorized; 262 and 991 shares issued and outstanding at March 31, 2026 and 2025, respectively) 42,943 234,364
Related Party    
Current assets    
Due from a related party, net, current [2],[3] 14,497 81,098
Other assets    
Operating lease right-of-use assets, net, a related party 47,520 6,910
Due from a related party, net, non-current [4] 422,064
Current liabilities    
Due to related parties 747,094 414
Operating lease liabilities, current - a related party $ 58,023 $ 10,365
[1] Giving retroactive effect to the 1-for-10 reverse stock split effected on July 29, 2025
[2] As of March 31, 2026, balance of $14,497 represented business cash advances to Jie Gao, which was repaid to the Company in June 2026.
[3] On January 3, 2024, Xiang Hu, entered into a loan agreement wherein the Company agreed to provide an interest-free special reserve loan of $150,000 for a period of 12 months, which was extended for 12 months since January 3, 2025. As of March 31, 2026 and 2025, the balance was $0 and $81,098, respectively.
[4] As of March 31, 2026 and 2025, balances due from Jinkailong, the Company’s equity investee company, was $0 and $422,064, respectively, net of allowance for credit losses. The balances were a result of Jinkailong’s deconsolidation on March 31, 2022.