| Schedule of Condensed Balance Sheets |
| | | March 31, | | | March 31, | | | | | 2026 | | | 2025 | | | ASSETS | | | | | | | | Current Assets | | | | | | | | Cash | | $ | 1,800 | | | $ | 999 | | | Due from subsidiaries | | | 2,148,569 | | | | 10,435,066 | | | Due from a related party | | | — | | | | 75,000 | | | Prepayments, other receivables and other current assets, net | | | 199,143 | | | | — | | | Total Current Assets | | | 2,349,512 | | | | 10,511,065 | | | | | | | | | | | | | Other Assets | | | | | | | | | | Intangible assets | | | 300,000 | | | | 375,000 | | | Total Assets | | $ | 2,649,512 | | | $ | 10,886,065 | | | | | | | | | | | | | LIABILITIES, MEZZANINE EQUITY AND DEFICIT | | | | | | | | | | Current Liabilities | | | | | | | | | | Accrued expenses and other liabilities | | $ | 480,578 | | | $ | 1,080,265 | | | Due to a related party | | | 78,398 | | | | — | | | Due to a subsidiary | | | 113,521 | | | | — | | | Derivative liabilities | | | 5,615,288 | | | | 84,591 | | | Total Current Liabilities | | | 6,287,785 | | | | 1,164,856 | | | | | | | | | | | | | Other Liabilities | | | | | | | | | | Excess of investments in subsidiaries | | | 2,152,189 | | | | 12,342,408 | | | Total Liabilities | | | 8,439,974 | | | | 13,507,264 | | | | | | | | | | | | | Commitments and Contingencies | | | | | | | | | | 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 | | | | | | | | | | | | | 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) * | | | 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 | ) | | Total Liabilities, Mezzanine Equity and deficit | | $ | 2,649,512 | | | | 10,886,065 | | | * | Giving retroactive effect to the 1-for-10 reverse stock split effected on July 29, 2025 |
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| Schedule of Condensed Statements of Operations And Comprehensive Loss |
| | | For the Years Ended
March 31, | | | | | 2026 | | | 2025 | | | General and administrative expenses | | $ | (1,753,320 | ) | | $ | (978,022 | ) | | Other income, net | | | 200,006 | | | | — | | | Change in fair value of derivative liabilities | | | 202,959 | | | | 204,242 | | | Excess of warrant fair value over offering proceeds | | | (2,896,455 | ) | | | — | | | Equity of losses in subsidiaries | | | (1,023,390 | ) | | | (2,951,525 | ) | | Net loss | | $ | (5,270,200 | ) | | $ | (3,725,305 | ) |
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| Schedule of Condensed Statements of Cash Flows |
| | | For the Years Ended
March 31, | | | | | 2026 | | | 2025 | | | Cash Flows from Operating Activities: | | | | | | | | Net loss | | $ | (5,270,200 | ) | | $ | (3,725,305 | ) | | Adjustments to reconcile net loss to net cash used in operating activities: | | | | | | | | | | Equity of loss of subsidiaries | | | 1,023,390 | | | | 2,951,525 | | | Amortization of intangible asset | | | 75,000 | | | | 75,000 | | | Stock compensation expense | | | 250,000 | | | | — | | | Gain from debt forgiveness | | | (42,581 | ) | | | — | | | Gain from voluntary waiver of compensation by related parties | | | (170,000 | ) | | | — | | | Excess of warrant fair value over offering proceeds | | | 2,896,455 | | | | — | | | Offering costs allocable to derivative liabilities | | | 12,575 | | | | — | | | Change in fair value of derivative liabilities | | | (202,959 | ) | | | (204,242 | ) | | Change in operating assets and liabilities | | | | | | | | | | Prepayments, receivables and other current assets | | | (199,143 | ) | | | 37,124 | | | Due from a related party | | | 75,000 | | | | — | | | Due to a related party | | | 78,398 | | | | — | | | Accrued expenses and other liabilities | | | (684,105 | ) | | | 201,761 | | | Net Cash Used in Operating Activities | | | (2,158,170 | ) | | | (664,137 | ) | | | | | | | | | | | | Cash Flows from Investing Activities: | | | | | | | | | | Loan to a related party | | | (229,469 | ) | | | — | | | Loan to subsidiaries | | | (1,579,028 | ) | | | — | | | Net Cash Used in Investing Activities | | | (1,808,497 | ) | | | — | | | | | | | | | | | | | Cash Flows from Financing Activities: | | | | | | | | | | Net proceeds from exercise of November 2021 Private Placement Warrants | | | 341,251 | | | | — | | | Net proceeds from issuance of common stock in PIPE Offering | | | 659,992 | | | | — | | | Net proceeds from registered direct offering of common stock and pre-funded warrants and concurrent private placement of warrants | | | 2,828,725 | | | | — | | | Repayment from subsidiaries | | | — | | | | 569,239 | | | Borrowings from related parties | | | 137,500 | | | | 74,773 | | | Net Cash Provided by Financing Activities | | | 3,967,468 | | | | 644,012 | | | | | | | | | | | | | Net increase (decrease) in cash | | | 801 | | | | (20,125 | ) | | Cash, beginning of year | | | 999 | | | | 21,124 | | | Cash, end of year | | $ | 1,800 | | | $ | 999 | |
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