| Loans Receivable, Net |
4. Loans Receivable, Net As of March 31, 2026 and 2025, loans receivable consisted of the following: | | | As of March 31, | | | | | 2026 | | | 2025 | | | Receivable due from customers holding US stocks or HK stocks (i) | | $ | 1,096,030 | | | $ | 610,296 | | | Less: allowance for expected credit loss on receivable due from customers holding US stocks or HK stocks | | | (506,380 | ) | | | (261,342 | ) | | | | | 589,650 | | | | 348,954 | | | Loans receivable (ii) | | | 11,162,121 | | | | 11,957,377 | | | | | $ | 11,751,771 | | | $ | 12,306,331 | | | (i) | The balance due from customers holding US stocks or HK stocks represented the purchase price of stock exceeding the deposits paid by customers which traded these US stocks or HK stocks through the Company’s platform. The US stocks and HK stocks were under custodian of the Company, and the customers shall fully pay the balance to the Company before they sold these stocks. For the years ended March 31, 2026 and 2025, the Company provided allowances for expected credit losses of $248,188 and $249,616 against the receivables due from these customers, respectively, because the fair value of the stocks were below the receivables due from the customers. | | (ii) | The Company conducted loan business, which was approved by Hong Kong Licensing Court under the Money Lenders Ordinance. The Company disbursed loans to customers for a fixed period and charged interests from the customers. The principal and interest are repayable upon the maturity of the loans. For the year ended March 31, 2026 and 2025, the Company recognized interest income of $952,512 and $832,724 from the loan business, respectively. As of March 31, 2026, the loans receivables were comprised of principal of $10,713,159 and interest of $448,962, respectively. As of March 31, 2025, the loans receivables were comprised of principal of $11,277,359 and interest of $680,018, respectively. |
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