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2025-04-01 2026-03-31 0001997637 iotr:PurchasesMember us-gaap:SupplierConcentrationRiskMember iotr:VendorDMember 2025-04-01 2026-03-31 0001997637 us-gaap:AccountsPayableMember us-gaap:SupplierConcentrationRiskMember iotr:VendorDMember 2025-04-01 2026-03-31 shares iso4217:USD iso4217:USD shares pure iso4217:SGD 20-F false true 2026-03-31 --03-31 2026 false false 001-42594   iOThree Limited   161 Kallang Way #07-01 and #07-08 Singapore SG 349247 Eng Chye Koh +65 3105 1699 ir@io3.sg 161 Kallang Way #07-01 and #07-08 Singapore SG 349247 Ordinary Shares, par value $0.0625 per share IOTR NASDAQ 2296566 1831675 No No Yes Yes Non-accelerated Filer true false false false false true <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Risk Management and Strategy</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognizes the critical importance of developing, implementing, and maintaining robust cybersecurity measures to safeguard our information systems and protect the confidentiality, integrity, and availability of our data. In an increasingly complex and evolving threat environment, we are committed to proactively addressing cybersecurity risks that could impact our operations, customers, and stakeholders.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have established a comprehensive cybersecurity and risk management framework, designed to identify, assess, mitigate, and monitor cyber threats and vulnerabilities. This framework includes:</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify"><i>Regular Cybersecurity Risk Assessments</i>: We conduct ongoing assessments to evaluate potential cyber-attack vectors, information security weaknesses, and emerging threats that may affect our business operations.</td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify"><i>Data Encryption and Protection</i>: We employ advanced data encryption protocols to ensure the secure transmission and storage of sensitive information. Confidential data is encrypted based on risk level, and encryption methodologies are applied in accordance with best practices and regulatory standards.</td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify"><i>Internal Security Policies and Access Controls</i>: The Company has implemented stringent internal policies and procedures governing data security and access control. Access to sensitive systems and information is restricted to authorized personnel on a need-to-know basis, and all employees are required to comply strictly with our cybersecurity policies.</td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify"><i>Employee Training and Awareness</i>: We provide regular training and awareness programs to educate employees on cybersecurity best practices, threat awareness, and their individual responsibilities in information management. These initiatives are designed to foster a strong security culture across the organization.</td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify"><i>Incident Response and Monitoring</i>: Our cybersecurity infrastructure includes real-time monitoring tools and an incident response plan to detect, respond to, and recover from security incidents in a timely manner, minimizing potential disruption and loss.</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have not identified risks from known cybersecurity threats, or experienced any prior cybersecurity incidents, that have materially affected or are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. In the event of any significant cybersecurity incidents, we will publicly disclose the nature, scope, and impact of the incident, as well as the remediation measures we implement. </p> The Company recognizes the critical importance of developing, implementing, and maintaining robust cybersecurity measures to safeguard our information systems and protect the confidentiality, integrity, and availability of our data. true <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have not identified risks from known cybersecurity threats, or experienced any prior cybersecurity incidents, that have materially affected or are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. In the event of any significant cybersecurity incidents, we will publicly disclose the nature, scope, and impact of the incident, as well as the remediation measures we implement. </p> true <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Risk Governance</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our board of directors oversees the management of risks associated with cybersecurity threats.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Management’s Role in Managing Risk</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s Chief Executive Officer is primarily responsible for assessing, monitoring and managing our cybersecurity risks. Management must ensure that all industry standard cybersecurity measures are functioning as required to prevent or detect cybersecurity threats and related risks. Management oversees and tests our compliance with standards, remediates known risks, and leads our employee training program.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Monitoring Cybersecurity Incidents</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s management is continually informed about the latest developments in cybersecurity, including potential threats and innovative risk management techniques. Management implements and oversees processes for the regular monitoring of our information systems. This includes the deployment of industry-standard security measures and regular system audits to identify potential vulnerabilities. In the event of a cybersecurity incident, management will implement the cybersecurity crisis management plan.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Reporting to Board of Directors</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Significant cybersecurity matters, and strategic risk management decisions, will be escalated to the board of directors.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For additional information on our cybersecurity risks, please see “<i>Item 3.D. Risk Factors — Risks Related to Intellectual Property, Information Technology, Data Privacy and Cybersecurity</i>.”</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our board of directors oversees the management of risks associated with cybersecurity threats.</p> true <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Management’s Role in Managing Risk</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s Chief Executive Officer is primarily responsible for assessing, monitoring and managing our cybersecurity risks. Management must ensure that all industry standard cybersecurity measures are functioning as required to prevent or detect cybersecurity threats and related risks. Management oversees and tests our compliance with standards, remediates known risks, and leads our employee training program.</p> The Company’s Chief Executive Officer is primarily responsible for assessing, monitoring and managing our cybersecurity risks. 3487 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Opinion on the Financial Statements</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have audited the accompanying consolidated balance sheets of iOThree Limited and subsidiaries (collectively referred to as the “Company”) as of March 31, 2026 and 2025, the related consolidated statements of operations and comprehensive income, changes in shareholders’ equity and cash flows for each of the three years in the period ended March 31, 2026, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of March 31, 2026 and 2025, and the results of its operations and its cash flows each of the three years in the period ended March 31, 2026, in conformity with accounting principles generally accepted in the United States of America.</p> Audit Alliance LLP Singapore 2120809 443117 1092220 1325186 154947 203381 1228077 690521 1012642 1467600 5608695 4129805 1754892 874262 359850 367939 188988 294499 568705 2872435 1536700 8481130 5666505 779520 977458 1298959 1377535 358360 841979 108059 46983 567340 424070 3112238 3668025 268645 36569 634564 216430 903209 252999 4015447 3921024 0.0625 0.0625 1000000 1000000 0.0625 0.0625 0.0625 0.0625 9000000 9000000 70000000 70000000 1831675 1831675 1831675 1831675 2296566 2296566 2296566 2296566 258014 150000 4426814 652637 748 -218397 942844 4465683 1745481 8481130 5666505 14709239 10478550 8570070 11557897 8614316 6724479 3151342 1864234 1845591 580751 579042 406870 3727801 1475028 1453282 23607 -12818 -18588 4284945 2066888 1878740 -1133603 -202654 -33149 15679 23671 20743 64749 34702 35830 -1182673 -213685 -48236 -21432 16830 -43790 -1161241 -230515 -4446 -0.44 -0.44 -0.1 -0.1 2641990 2641990 2400000 2400000 2400000 2400000 -1161241 -230515 -4446 -748 -1161989 -230515 -4446 2400000 150000 652637 1470305 2272942 292500 292500 -4446 -4446 2400000 150000 652637 1173359 1975996 -230515 -230515 2400000 150000 652637 942844 1745481 165000 10313 2591878 2602191 -1831674 1831674 80000 80000 1 21 1563219 97701 1262299 1360000 -748 -748 -1161241 -1161241 1831675 2296566 258014 4426814 -748 -218397 4465683 -1161241 -230515 -4446 722851 475460 310384 1435 -9522 2861 -6088 75701 74147 60003 -2513 -75315 -226773 371259 -81952 153945 96983 -171705 448349 -221911 -263735 1135152 -59475 127282 -197464 -77174 213346 -78576 -189735 1195661 -483620 431665 -197751 -2237782 488097 1631420 578063 548739 468355 83429 32311 23010 -661492 -581050 -491365 3623597 1360000 388636 700000 -80000 335003 382316 98062 45139 43120 277891 619271 570279 464211 185117 836288 4574900 -465532 -539194 2066 6510 -7317 1677692 -551975 593544 443117 995092 401548 2120809 443117 995092 -21432 17220 48623 64749 34702 35830 1369022 2976403 <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>NOTE – 1 BUSINESS OVERVIEW AND BASIS OF PRESENTATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Principal Activities</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">iOThree Limited (“iO3 Cayman”) was incorporated in the Cayman Islands on August 21, 2023 under the Companies Act as an exempted company with limited liability. The authorized share capital is $50,000 divided into 5,000,000 Ordinary Shares, at par value of US$0.01 each. On January 19, 2024, the authorized share capital increased to US$500,000 divided into 50,000,000 Ordinary Shares, at par value of US$0.01 each.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">iO3 Cayman, through its subsidiaries (collectively with iO3 Cayman, the “Company”) are mainly engaged in the business of satellite communications and software.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Description of subsidiaries incorporated and controlled by the Company as at balance sheet date:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="width: 27%; border-bottom: black 1.5pt solid; text-align: justify"><span style="font-size: 10pt">Name</span></td> <td style="width: 2%; text-align: justify"> </td> <td style="border-bottom: black 1.5pt solid; width: 51%; text-align: center"><span style="font-size: 10pt">Background</span></td> <td style="width: 2%; text-align: justify"> </td> <td style="border-bottom: black 1.5pt solid; width: 18%; text-align: center"><span style="font-size: 10pt">Effective ownership</span></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="text-indent: -0.125in; padding-left: 0.125in"><span style="font-size: 10pt">iOThree Maritime Technologies Limited (“iO3 BVI”) </span></td> <td style="text-align: justify"> </td> <td> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● British Virgin Islands company</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Incorporated on August 21, 2023</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Issued and outstanding 1,000 ordinary shares for US$1,000</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Investment holding</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Provision of investment holding</p></td> <td style="text-align: justify"> </td> <td><span style="font-size: 10pt">100% owned by iOThree Cayman</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td><span style="font-size: 10pt">iO3 Pte. Ltd. (“iO3 Singapore”)</span></td> <td style="text-align: justify"> </td> <td> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Singaporean company</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Incorporated on February 19, 2019</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Issued and outstanding 147,360 ordinary shares for US$802,137</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Satellite communications and software</p></td> <td style="text-align: justify"> </td> <td><span style="font-size: 10pt">100% owned by iO3 BVI</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td><span style="font-size: 10pt">iO3 Sdn. Bhd.</span></td> <td style="text-align: justify"> </td> <td> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Malaysian company</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Incorporated on April 23, 2025</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Issued and outstanding 100 ordinary shares for RM100</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Satellite communications and software</p></td> <td style="text-align: justify"> </td> <td><span style="font-size: 10pt">100% owned by iO3 Singapore</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Reorganization</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 21, 2023, our founder and Chief Executive Officer, Eng Chye Koh, incorporated iOThree Maritime Technologies Limited (“iO3 BVI”), a holding company incorporated under the laws of the British Virgin Islands, which has no substantial operations in the British Virgin Islands. On September 4, 2023, iO3 Cayman acquired 100% of the equity interests of iO3 BVI from Mr. Koh.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 6, 2023, as part of a reorganization for the purpose of this offering and listing on Nasdaq, iO3 BVI (at the direction of iO3 Cayman), acquired the entire equity interest in iO3 Singapore from its shareholders, namely Eng Chye Koh, Joanna Hui Cheng Soh, Zhenhua Yin, Wei Meng See, Loo Koon Goh and Tsang Nga Kwok, and as consideration, iO3 Cayman allotted and issued its shares to Tsang Nga Kwok and iO3 Strategic Investments Limited, which is owned by Eng Chye Koh, Joanna Hui Cheng Soh, Zhenhua Yin, Wei Meng See and Loo Koon Goh (i.e., iO3 Cayman allotted and issued an aggregate of 50,000 Ordinary Shares of par value of US$0.01 each of iO3 Cayman credited as fully paid to Tsang Nga Kwok and iO3 Strategic Investments Limited for a consideration of US$1,630,695 determined based on the net assets of iO3 Singapore as at March 31, 2023, which is settled by the transfer of an aggregate of 147,360 ordinary shares of iO3 Singapore to iO3 BVI). After the reorganization, iO3 Singapore became a wholly-owned subsidiary of iO3 BVI, which in turn, is our wholly-owned subsidiary.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 8, 2024, as of the final step in the series of reorganization transactions for the purpose of this offering and listing on Nasdaq, each shareholder of iO3 Cayman (i.e., iO3 Strategic Investments Limited, All Wealthy International Limited, Tsang Nga Kwok, One Investment and Consultancy Limited, Sakal Capital Pte. Ltd. and Shao Qi Limited) was allotted and issued shares in iO3 Cayman that were in proportion to their existing shareholdings, credited as fully paid up at par value out of the share premium account of iO3 Cayman. After such allotment and issuance, the total number of issued and outstanding shares of iO3 Cayman increased from 100,000 Ordinary Shares to 15,000,000 Ordinary Shares.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The financial statements of the Company were prepared on the basis as if the reorganization became effective as of the beginning of the first period presented in the accompanying consolidated financial statements of the Company. Accordingly, the results of the Company include the results of the subsidiaries for year ended March 31, 2026, 2025 and 2024. Such manner of presentation reflects the economic substance of the companies, which were under common control throughout the relevant period, as a single economic enterprise, although the legal parent-subsidiary relationships were not established.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span style="text-decoration:underline">Forward Share Consolidation and Share Split</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 22, 2024, the Company conducted share consolidation and share split as follow:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) Share consolidated at the ratio of 1:5, i.e. every 5 ordinary shares were consolidated to 1 ordinary share; and</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) Share split at the ratio of 8:1, i.e. every 1 ordinary share was subdivided into 8 ordinary shares.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequent to the above exercise, the Company has an authorised share of 80,000,000 ordinary shares of par value US$0.00625 each and 24,000,000 ordinary shares outstanding, before giving effect to the one-for-ten reverse share split on November, 10,2025 (see below for further information). All share and per share data prior to August 22, 2024 have been retroactively adjusted to reflect the forward share consolidation and share split throughout these consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span style="text-decoration:underline">Reverse Share Split</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 10, 2025, at the Extraordinary General Meeting of Members of iOThree Limited (the “Company”), the Company’s shareholders approved:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) the Second Amended and Restated Memorandum and Articles of Association, increased the authorized share capital of the Company from US$500,000.00 divided into 80,000,000 ordinary shares of a par value of US$0.00625 each to US$5,000,000.00 divided into 800,000,000 shares of a par value of US$0.00625 each, comprising (i) 700,000,000 ordinary shares of a par value of US$0.00625 each, (ii) 90,000,000 class A shares of a par value of US$0.00625 each (the “Class A Shares”), and (iii) 10,000,000 preferred shares of a par value of US$0.00625 each ; and</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) the redesignation of certain issued ordinary shares, par value $0.00625 per share, as issued class A shares, par value $0.00625 per share (the “Class A Shares”), on a one-for-one basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) a share consolidation of the Company’s issued and unissued shares, par value US$0.00625 each, at a ratio of not less than one (1)-for-two (2) and not more than one (1)-for-twenty (20), with the exact ratio determined by the Company’s Board of Directors.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 10, 2025, the Company conducted a one-for-ten reverse share split (Reverse Split) of the Company’s issued and unissued ordinary shares, Class A shares, and preferred shares, at a new par value of $0.0625 per share.  No fractional shares will be issued as a result of the reverse share split, and instead, all such fractional shares resulting from the reverse share split will be rounded up to the nearest whole share. Prior to the reverse share split, the Company has 7,333,257 Ordinary Shares and 18,316,743 class A shares issued and outstanding, and <span style="-sec-ix-hidden: hidden-fact-70">no</span> preferred shares outstanding. Following the reverse share split, the Company has 733,347 Ordinary Shares and 1,831,675 class A shares issued and outstanding, exclusive of shares issuable under outstanding warrants, and the Company has 70,000,000 authorized Ordinary Shares, 9,000,000 authorized class A shares and 1,000,000 authorized preferred shares. The rounding up of fractional shares resulted in the issuance of 21 additional Ordinary Shares and 1 additional Class A Shares. The effect of the rounded-up shares was recorded within shareholders’ equity and did not have a material impact on total shareholders’ equity. All the shares number and the per-share data included in these consolidated financial statements have been retroactively adjusted as though the Reverse Share Split has been effected prior to all periods presented.</p> 2023-08-21 50000 5000000 0.01 500000 50000000 0.01 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Description of subsidiaries incorporated and controlled by the Company as at balance sheet date:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="width: 27%; border-bottom: black 1.5pt solid; text-align: justify"><span style="font-size: 10pt">Name</span></td> <td style="width: 2%; text-align: justify"> </td> <td style="border-bottom: black 1.5pt solid; width: 51%; text-align: center"><span style="font-size: 10pt">Background</span></td> <td style="width: 2%; text-align: justify"> </td> <td style="border-bottom: black 1.5pt solid; width: 18%; text-align: center"><span style="font-size: 10pt">Effective ownership</span></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td style="text-indent: -0.125in; padding-left: 0.125in"><span style="font-size: 10pt">iOThree Maritime Technologies Limited (“iO3 BVI”) </span></td> <td style="text-align: justify"> </td> <td> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● British Virgin Islands company</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Incorporated on August 21, 2023</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Issued and outstanding 1,000 ordinary shares for US$1,000</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Investment holding</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Provision of investment holding</p></td> <td style="text-align: justify"> </td> <td><span style="font-size: 10pt">100% owned by iOThree Cayman</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td><span style="font-size: 10pt">iO3 Pte. Ltd. (“iO3 Singapore”)</span></td> <td style="text-align: justify"> </td> <td> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Singaporean company</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Incorporated on February 19, 2019</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Issued and outstanding 147,360 ordinary shares for US$802,137</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Satellite communications and software</p></td> <td style="text-align: justify"> </td> <td><span style="font-size: 10pt">100% owned by iO3 BVI</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td> </td></tr> <tr style="vertical-align: top; background-color: #CCEEFF"> <td><span style="font-size: 10pt">iO3 Sdn. Bhd.</span></td> <td style="text-align: justify"> </td> <td> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Malaysian company</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Incorporated on April 23, 2025</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Issued and outstanding 100 ordinary shares for RM100</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">● Satellite communications and software</p></td> <td style="text-align: justify"> </td> <td><span style="font-size: 10pt">100% owned by iO3 Singapore</span></td></tr> </table> ● British Virgin Islands company ● Incorporated on August 21, 2023 ● Issued and outstanding 1,000 ordinary shares for US$1,000 ● Investment holding ● Provision of investment holding 1 ● Singaporean company ● Incorporated on February 19, 2019 ● Issued and outstanding 147,360 ordinary shares for US$802,137 ● Satellite communications and software 1 ● Malaysian company ● Incorporated on April 23, 2025 ● Issued and outstanding 100 ordinary shares for RM100 ● Satellite communications and software 1 1 50000 0.01 1630695 147360 100000 15000000 (a) Share consolidated at the ratio of 1:5, i.e. every 5 ordinary shares were consolidated to 1 ordinary share; and(b) Share split at the ratio of 8:1, i.e. every 1 ordinary share was subdivided into 8 ordinary shares. 80000000 0.00625 24000000 500000 80000000 0.00625 5000000 800000000 0.00625 700000000 0.00625 90000000 0.00625 10000000 0.00625 0.00625 0.00625 0.00625 0.0625 7333257 7333257 18316743 18316743 733347 733347 1831675 1831675 70000000 9000000 1000000 21 1 <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>NOTE – 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These accompanying consolidated financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying consolidated financial statements and notes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Basis of Presentation</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying consolidated 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 regulations of the U.S. Securities and Exchange Commission (“SEC”). </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Use of Estimates and Assumptions</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the years presented. </span>Significant accounting estimates in the period include the allowance for credit losses on accounts and other receivables, impairment loss on inventories, assumptions used in assessing right of use assets and impairment of long-lived assets, and deferred tax valuation allowance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Basis of Consolidation</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements include the consolidated financial statements of the Company and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Foreign Currency Translation and Transaction</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements of the Company and the Group are presented in United States Dollar, which is the functional and presentation currency of the Company and the presentation currency of the Group.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Items included in the financial statements of each entity in the Group are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). Assets and liabilities of subsidiaries whose functional currency is not the US$ are translated into US$ at exchange rates in effect at the balance sheet date. Revenues and expenses are translated at average exchange rates for the reporting period. Translation adjustments are recorded in other comprehensive income and accumulated in shareholders’ equity as foreign currency translation reserve.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the date of the balance sheet dates. The resulting exchange differences arising on the settlement of monetary items or on translating monetary items at the date of the balance sheet dates are recorded in the statement of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Cash and Cash Equivalents</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and cash equivalents consist primarily of cash in readily available checking and saving accounts which are subject to an insignificant risk of change in value. The Company maintains its bank accounts in Singapore.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Accounts Receivable, net</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">Accounts receivable include trade accounts due from customers in the sale of products or delivery of services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">Accounts receivable are recorded at the invoiced amount and do not bear interest, which are due within contractual payment terms. The normal settlement terms of accounts receivable are within 90 days upon the delivery of goods or services. Management reviews its receivables on a regular basis to determine if the bad debt allowance is adequate and provides allowance when necessary. </span>The Company estimates expected credit losses for accounts receivable in accordance with ASC 326, Financial Instruments—Credit Losses. The allowance for credit losses is estimated based on historical collection experience, aging of receivables, specific customer credit risk, current economic conditions, and reasonable and supportable forecasts that affect collectability. Accounts receivable are written off against the allowance when management determines that the receivable is uncollectible. <span style="background-color: white">The </span>Company’s management continues to evaluate the reasonableness of the valuation allowance policy and update it if necessary.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company does not hold any collateral or other credit enhancements overs its accounts receivable balances.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Net investment in sales-type lease</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">A net investment in finance lease is recognized if a lease meets specific criteria under Accounting Standards Codification (“ASC”) 842 at its inception. Upon commencement of the lease, the book value of the equipment is de-recognized and a net investment in finance lease is recognized in our Consolidated Balance Sheets based on the present value of fixed payments under the contract and the residual value of the underlying asset, discounted at the rate implicit in the lease. The Company recognize the difference between the book value of the equipment and the net investment in the lease in equipment sales in our Consolidated Statement of Operations. Interest income on our net investment in finance leases is recognized over the lease term in a manner that produces a constant rate of return on the net investment in the lease. (Refer to Lease for more information).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Inventories</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventories are valued at the lower of cost or net realizable value. Cost is determined by the weighted average cost method. The Company records adjustments to its inventory for estimated obsolescence or diminution in net realizable value equal to the difference between the cost of the inventory and the estimated net realizable value. At the point of loss recognition, a new cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Deferred Offering Costs</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred offering costs, which consist of direct incremental legal, accounting, and consulting fees relating to the Company’s proposed initial public offering (“IPO”), are capitalized in “Deposits, prepayments and other receivables” on the consolidated balance sheets. The deferred offering costs will be offset against IPO proceeds upon the consummation of an IPO. In the event the planned IPO is terminated, the deferred offering costs will be expensed.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Property and Equipment, net</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center">Expected <br/> useful life</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Computer equipment</td><td style="width: 1%"> </td> <td style="width: 19%; text-align: center">3 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Furniture, fixtures and fittings</td><td> </td> <td style="text-align: center">3 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Equipment</td><td> </td> <td style="text-align: center">3 to 7 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Motor vehicles</td><td> </td> <td style="text-align: center">5 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Renovation</td><td> </td> <td style="text-align: center">3 years</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Expenditure for repairs and maintenance is expensed as incurred. When assets have retired or sold, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the results of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Intangible assets</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The software license is acquired by the Company. It is initially recognized at cost and subsequently carried at cost less accumulated amortization and accumulated impairment losses, if any. Amortization is calculated on the straight-line basis over its expected useful lives of 7 years.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Software development costs consists of costs incurred to develop cloud-based applications used to deliver our services. Costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the technological feasibility stage, internal and external costs, if direct and incremental, are capitalized until the software is substantially complete and ready for its intended use. Capitalization ceases upon completion of all substantial testing. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional features and functionality. Maintenance costs are expensed as incurred. As of balance sheet date, the software is in progress of development and not amortized until it is ready for intended use.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">An intangible asset is derecognized on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the intangible asset, are recognized in profit or loss when the intangible asset is derecognized.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The intangible assets are tested annually for impairment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.7pt 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Impairment of Long-lived Assets</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Long-lived assets are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount may not be fully recoverable or that the useful life is shorter than the Company had originally estimated. When these events occur, the Company evaluates the impairment by comparing carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Company recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.7pt 0pt 70.5pt; text-align: justify">  </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Revenue Recognition</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC 606”) <i>Revenue from Contracts with Customers</i>, revenue is recognized when a customer obtains control of promised products and services. The amount of revenue recognized reflects the consideration which the Company expects to be entitled to receive in exchange for these products and services. To achieve this core principle, the Company applies the following five steps as per Accounting Standards Update (“ASU”) No. 2014-09:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">1.</span></td><td style="text-align: justify">Identification of the contract(s) with a customer</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="margin-left: 0.25in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">A contract with a customer exists when</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">(i)</td><td style="text-align: justify">the Company enters into an enforceable contract with a customer that defines each party’s rights regarding the goods or services to be transferred and identifies the payment terms related to these goods or services,</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">(ii)</td><td style="text-align: justify">the contract has commercial substance, and</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">(iii)</td><td style="text-align: justify">the Company determines that collection of substantially all consideration for goods or services that are transferred is probable based on historical results and the customer’s ability to pay the promised consideration. The Company’s contracts are typically evidenced through a signed Company quote or a customer purchase order and Company quote.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">2.</span></td><td style="text-align: justify">Identification of the performance obligations in the contract</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="margin-left: 0.25in; font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">At contract inception, the Company evaluates whether a single contract includes more than one performance obligation. Performance obligations promised in a contract are identified based on the goods or services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the goods or services either on their own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the goods or services is separately identifiable from other promises in the contract. To the extent a contract includes multiple promised goods or services, the Company applies judgment to determine whether promised goods or services are capable of being distinct in the context of the contract. If these criteria are not met, the promised goods or services are accounted for as a combined performance obligation.  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">3.</span></td><td style="text-align: justify">Determination of the transaction price</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="margin-left: 0.25in; font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring goods or services to the customer. Such amounts are stated within the customer contracts.</p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">4.</span></td><td style="text-align: justify">Allocation of the transaction price to the performance obligations in the contract</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="margin-left: 0.25in; font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price (SSP) basis. The Company determines SSP based on the price at which the performance obligation is sold separately. If the SSP is not observable through past transactions, the Company estimates the SSP taking into consideration available information, such as market conditions and internally approved pricing guidelines related to the performance obligations.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left">5.</td><td style="text-align: justify">Recognition of revenue when or as the Company satisfies a performance obligation</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><b><i>Satellite connectivity solution</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The Company provide various type of satellite connectivity solution to our customers:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">(a)</td><td style="text-align: justify">Subscription</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Monthly subscription fee is charged to customers for the satellite connection service in relating to the airtime, bandwidth subscription plan and value-added service subscribed. The revenue is recognized ratably over the period of the contract.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">(b)</td><td style="text-align: justify">Sales of satellite network equipment and devices</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The sales of satellite network equipment and devices including antenna, satellite phone, battery, wall charger, modem etc. The equipment is shipped and installed at the destination specified by the customer. As such, shipping and handling services are part of the performance obligation to deliver the equipment to customers. The revenue, including the shipping and handling fee charged to customers, is recognized at the point in time when control and ownership of the goods is transferred to the customer.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">(c)</td><td style="text-align: justify">Integrated satellite connectivity solution</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company offers integrated satellite connectivity solution to our customer, which includes both airtime and the satellite network equipment for network connection. Contract with customer comprise multiple performance obligations and may have lease components. The total contract consideration is allocated to the airtime service and the sales of satellite network equipment and devices, which represents distinct performance obligations. The revenue in relating to the airtime subscription fee is recognized according to (a) above. For satellite network equipment and devices, the Company assesses at contract inception whether it meet the criteria of lease. If the criteria are met, the revenue is recognized according to ASC 842, Leases (refer to the note in relating to lease). If the criteria are not met, the revenue from the sales of satellite network equipment and devices are recognized upon the completion of installation and the transfer of control to the customer.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><b><i>Digitalization and other solution</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">(a)</td><td style="text-align: justify">Digital platform service – The Company provides customers access to the digital platform (“Jarviss”) to obtain real time information for their daily operation management.  Monthly subscription fee is charged to the customers based on the number of user access and number of service elements subscribed. Revenue recognition commences rateably when control of the services is transferred to the customers, in an amount that reflects the consideration that the Company expects to receive in exchange for those services over the contractual term.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">(b)</td><td style="text-align: justify">Provision of information technology (IT) support - Customer specifies their IT support requirement in a contract, which may include IT help desk service, technical support, installation of software in the devices as specified etc. Performance obligations promised in the contract are identified based on the goods or services that to be delivered to the customer. Revenue recognition commences when or as the Company satisfies a performance obligation and the control of the goods or services transferred to the customer.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">(c)</td><td style="text-align: justify">Provision of shipboard support services – The Company supplies shipboard equipment and/or engineering service as per customer’s specification. Equipment is installed at the destination specified by the customers. As such, shipping and handling services are part of the performance obligation to deliver the equipment to customers. Revenue, including the shipping and handling fee charged to customers, is recognized when or as the Company satisfies a performance obligation and the control of the goods or services transferred to the customer.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The Company is subject to GST which is levied on the products at the rate of 0% - 9% (2025: 0% - 9% and 2024: 0% - 8%) on the invoiced value of sales in Singapore. The Company records its revenues on product sales, net of good and service taxes (“GST”). </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">Advance payment from customer on future products are recorded as customer deposit and recognized as income when the control and ownership of the good is transferred to the customer.</span>  <span style="background-color: white">The deposits received in advance from customers were $1,298,959 and $1,377,535 as at March 31, 2026 and March 31, 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Lease</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">The Company assesses at contract inception whether a contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The lease term corresponds to the non-cancellable period of each contract.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheet; the Company recognizes lease expense or income for these leases on a straight-line basis over the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"><b>The Company as a lessor</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">At the commencement date, the lease payments are fixed payments. <span style="background-color: white">Lease payments do not include variable lease payments that do not depend on an index or a rate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">Leases are classified at the lease commencement date as either a sales-type lease or an operating lease. The lessor shall classify a lease as a sales-type lease when the lease meets any of the following criteria:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">a)</td><td style="text-align: justify">the lease transfers ownership of the underlying asset to the lessee by the end of the lease term;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">b)</td><td style="text-align: justify">the lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">c)</td><td style="text-align: justify">the lease term is for the major part of the remaining economic life of the underlying asset;</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">d)</td><td style="text-align: justify">the present value of the sum of the lease payments equals or exceeds substantially all of the fair value of the underlying asset; or</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">e)</td><td style="text-align: justify">the underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">Notwithstanding the above criteria, leases are classified as operating leases if they have variable lease payments that do not depend on an index or rate and if classifying the lease as a sales-type lease or a direct financing lease would result in the recognition of a selling loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">For a sales-type lease, at the lease commencement, net investment in the lease is recognized by the sum of the lease receivable and the unguaranteed residual asset. Lease receivable is the present values of the sum of lease payments and the guaranteed residual asset. The Company recognizes all revenue and costs associated with the sales-type lease as revenue from leasing activities and cost of leasing activities<b><i> </i></b>upon delivery of the underlying asset to the customer. Interest income based on the implicit rate in the lease is recorded to finance income over time as customers are invoiced on a monthly basis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">All other leases are accounted for as operating leases wherein the Company recognizes, at the commencement date, the lease payments as income in profit or loss over the lease term on a straight-line basis and the Company recognizes variable lease payments as income in profit or loss in the period in which the changes in facts and circumstances on which the variable lease payment are based occur.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">The Company suspend recognition of sales-type lease revenue and operating lease revenue and place the account on non-accrual status when management determines that collection of future income is not probable (generally after 60 days past due). The Company resume recognition of revenue, and recognize previously suspended income, when the Company consider collection of remaining amounts to be probable. The Company write off interest earned but uncollected prior to the receivables being placed on non-accrual status through allowance for credit losses when, in the judgment of management, the Company consider it to be uncollectible.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"><b>The Company as a lessee</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">Leases are classified at the inception date as either a finance lease or an operating lease. As the lessee, a lease is a finance lease if any of the following conditions exist:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">a)</td><td style="text-align: justify">ownership is transferred to the lessee by the end of the lease term,</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">b)</td><td style="text-align: justify">there is a bargain purchase option,</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">c)</td><td style="text-align: justify">the lease term is at least 75% of the asset’s estimated remaining economic life,</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">d)</td><td style="text-align: justify">the present value of the minimum lease payments at the beginning of the lease term is 90% or more of the fair value of the leased asset to the lessor at the inception date or</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">e)</td><td style="text-align: justify">the leased asset is of such a specialized nature that it is expected to have no alternative use.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">Finance lease assets are presented separately on the consolidated balance sheet as finance lease right-of-use assets, and current and non-current portion of finance lease liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">All other leases are accounted for as operating leases wherein rental payments are expensed on a straight-line basis over the periods of their respective leases. Operating leases (with an initial term of more than 12 months) are included in operating lease right-of-use (“ROU”) assets, operating lease liabilities (current), and operating lease liabilities (non-current) in the consolidated balance sheet. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company utilizes a market-based approach to estimate the incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any lease prepayments, reduced by lease incentives and accrued rent. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">The accounting update also requires that for finance leases, a lessee recognize interest expense on the lease liability, separately from the amortization of the right-of-use asset in the statements of earnings, while for operating leases, such amounts should be recognized as a combined expense. In addition, this accounting update requires expanded disclosures about the nature and terms of lease agreements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Shipping and Handling costs</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">Shipping and handling costs are included in cost of revenue as it is part of the Company’s fulfilment activity to satisfy the performance obligation as specified in the sales contract.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Sales and Marketing</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">Sales and marketing expenses include payroll, employee benefits and other headcount-related expenses associated with sales and marketing personnel, and the costs of advertising, promotions, seminars, and other programs. Advertising costs are expensed as incurred. Advertising expense was $56,562, $65,841 and $67,994 for the year ended March 31, 2026, 2025 and 2024, respectively.</span></p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Government Grant</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">A government grant or subsidy is not recognized until there is reasonable assurance that: (a) the enterprise will comply with the conditions attached to the grant; and (b) the grant will be received. When the Company receives government grant or subsidies but the conditions attached to the grants have not been fulfilled, such government subsidies are deferred and recorded under other payables and accrued expenses, and other long-term liability. The classification of short-term or long-term liabilities is dependent on the management’s expectation of when the conditions attached to the grant can be fulfilled. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The government evaluates the Company’s eligibility for the grants on a consistent basis, and then makes the payment. Government grants are recognized when received and all the conditions for their receipt have been met and are recorded as part of Other Income. The grants received were $14,826, $17,079 and $19,436 for the years ended March 31, 2026, 2025 and 2024, respectively from the Singapore Government.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Comprehensive Income (Loss)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ASC Topic 220, <i>Comprehensive Income</i>, establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Comprehensive income as defined includes all changes in equity during a period from non-owner sources. Accumulated other comprehensive income, as presented in the accompanying statement of shareholder’s equity, consists of changes in unrealized gains and losses on foreign currency translation. This comprehensive income is not included in the computation of income tax expense or benefit.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Income Taxes</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Income taxes are determined in accordance with the provisions of ASC Topic 740, <i>Income Taxes</i> (“ASC 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their consolidated financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the consolidated financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is subject to tax in its local jurisdiction. As a result of its business activities, the Company files tax returns that are subject to examination by the local tax authorities. As such, the current and deferred tax were assessed based on each subsidiary’s local tax jurisdiction.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2026 and March 31, 2025, the Company has <span style="-sec-ix-hidden: hidden-fact-71"><span style="-sec-ix-hidden: hidden-fact-72">no</span></span> significant unrecognized deferred tax assets and liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Goods and services tax (“GST”)</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenues, expenses and assets are recognized net of the amount of GST except:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">-</td><td style="text-align: justify">Where the GST incurred on a purchase of assets or services is not recoverable from the taxation authority, in which case the GST is recognized as part of the cost of acquisition of the asset or as part of the expense item as applicable; and</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">-</td><td style="text-align: justify">Receivables and payables that are stated with the amount of GST included.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the consolidated balance sheets. </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended March 31, 2026, 2025 and 2024, the Company did not have any interest and penalties associated with tax positions. As of March 31, 2026 and March 31, 2025, the Company did not have any significant unrecognized uncertain tax positions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Retirement Plan Costs</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Contributions to retirement plans (which are defined contribution plans) are charged to general and administrative expenses in the accompanying statements of operation as the related employee service are provided. The Company is required to make contribution to their employees under a government-mandated multi-employer defined contribution pension scheme for its eligible full-times employees in Singapore. The Company is required to contribute a specified percentage of the participants’ relevant income based on their ages and wages level. The contributions made for the year ended March 31, 2026, 2025 and 2024 were $325,484, $248,842 and $181,512 respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Segment Reporting</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FASB ASC 280, “<i>Segment Reporting”</i>, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Operating segments are defined as components of an enterprise which engage in business activities from which they may earn revenues and incur expenses, and about which separate financial information is available that is evaluated regularly by the chief operating decision-maker, who is the Company’s Chief Executive Officer, in deciding how to allocate resources and in assessing performance. Reportable segments are defined as an operating segment that either (a) exceeds 10% of revenue, or (b) reported profit or loss in absolute amount exceeds 10% of profit of all operating segments that did not report a loss or (c) exceeds 10% of the combined assets of all operating segments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group has two operating segments, namely Satellite connectivity solution and Digitalization and other solution (refer to Note 2 of Revenue recognition for further details). The internal reports have been prepared based on these operating segments for decision making and performance assessment. It is, therefore, used as the source for reportable segments of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Related Parties</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company follows the ASC 850-10, <i>Related Party</i> for the identification of related parties and disclosure of related party transactions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to section 850-10-20 the related parties include: (a) affiliates of the Company; (b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825–10–15, to be accounted for by the equity method by the investing entity; (c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by or under the trusteeship of management; (d) principal owners of the Company; (e) management of the Company; (f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and (g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: (a) the nature of the relationship(s) involved; (b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; (c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and (d) amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Commitments and Contingencies</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company follows the ASC 450-20, <i>Commitments to report accounting for contingencies</i>. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Concentration of Credit Risk</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to credit risk consist of cash equivalents, restricted cash, accounts receivable. Cash equivalents are maintained with high credit quality institutions, the composition and maturities of which are regularly monitored by management. The Singapore Deposit Protection Board pays compensation up to a limit of S$100,000 (approximately $77,515) if the bank with which an individual/a company hold its eligible deposit fails. As of March 31, 2026, cash balances of $2.1 million, held at financial institutions in Singapore, were subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For accounts receivable, the Company records an allowance for credit losses in accordance with ASC 326, Financial Instruments—Credit Losses. The allowance for credit losses represents management’s estimate of expected credit losses over the contractual life of the receivables and is measured based on historical collection experience, aging of receivables, customer-specific credit risk, current economic conditions, and reasonable and supportable forecasts that affect collectability.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluates accounts receivable on a collective basis when receivables share similar risk characteristics and on an individual basis when specific receivables no longer share similar risk characteristics or when specific collection concerns are identified.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company monitors credit risk on an ongoing basis, including concentrations of credit risk. Concentration of credit risk may arise when customers have similar characteristics such that their ability to meet their obligations is expected to be affected similarly by changes in economic conditions. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Exchange Rate Risk</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The reporting currency of the Company is US$, to date the majority of the Company’s revenues and costs are denominated in US$ and S$, a majority of the Company’s assets are denominated in US$ and S$ and a significant portion of the Company’s liabilities are denominated in S$. As a result, the Company is exposed to foreign exchange risk as its revenues and results of operations may be affected by fluctuations in the exchange rate between US$ and S$. If S$ depreciates against US$, the value of S$ revenues, costs and assets as expressed in US$ financial statements will decline. The Company does not hold any derivative or other financial instruments that expose to substantial market risk.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Liquidity Risk</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company’s policy is to ensure that it has sufficient cash to meet its liabilities when they become due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation. A key risk in managing liquidity is the degree of uncertainty in the cash flow projections. If future cash flows are fairly uncertain, the liquidity risk increases.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Fair Value Measurement</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company follows the guidance of the ASC Topic 820-10, <i>Fair Value Measurements and Disclosure</i> (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>Level 1</i> : Inputs are based upon unadjusted quoted prices for identical instruments traded in active markets;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"><span style="font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>Level 2 :</i> Inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques (e.g. Black-Scholes Option-Pricing model) for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs; and</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"><span style="font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>Level 3</i> : Inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques, including option pricing models and discounted cash flow models.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The carrying value of the Company’s financial instruments: cash and cash equivalents, restricted cash, accounts receivable, loans receivable, accounts payable, income tax payable, amount due to a related party, other payables and accrued liabilities approximate at their fair values because of the short-term nature of these financial instruments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management believes, based on the current market prices or interest rates for similar debt instruments, the fair value of note payable approximate the carrying amount. <span style="background-color: white">The Company accounts for loans receivable at cost, subject to impairment testing. The Company obtains a third-party valuation based upon loan level data including note rate, type and term of the underlying loans.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s non-marketable equity securities are investments in privately held companies, which are without readily determinable market values and are classified as Level 3, due to the absence of quoted market prices, the inherent lack of liquidity and the fact that inputs used to measure fair value are unobservable and require management’s judgment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value estimates are made at a specific point in time based on relevant market information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Recently Issued Accounting Pronouncements </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Recently Adopted Accounting Pronouncements</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The Company adopted ASU 2023-07 in these consolidated financial statements. The adoption did not have a material impact on the Company’s consolidated financial statements other than enhanced segment disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The Company adopted ASU 2023-09 for the annual period ended March 31, 2026. The adoption did not have a material impact on the Company’s financial position, results of operations or cash flows, but resulted in enhanced income tax disclosures.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Recently Issued Accounting Pronouncements Not Yet Adopted</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. In January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03 for public business entities, including non-calendar-year entities. The amendments are effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027. The Company is currently evaluating the impact of this guidance on its consolidated financial statement disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. ASU 2025-05 provides targeted amendments related to the measurement of expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under ASC 606, Revenue from Contracts with Customers. The Company is currently evaluating the impact of the guidance on its consolidated financial statements and related disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. ASU 2025-06 modernizes the accounting guidance for internal-use software costs. The Company is currently evaluating the impact of the guidance on its accounting policies for software development costs and related disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities. ASU 2025-10 establishes accounting guidance for the recognition, measurement, presentation and disclosure of government grants received by business entities. The Company is currently evaluating the impact of the guidance on its consolidated financial statements and related disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 consolidated financial statements.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Basis of Presentation</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying consolidated 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 regulations of the U.S. Securities and Exchange Commission (“SEC”). </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Use of Estimates and Assumptions</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the years presented. </span>Significant accounting estimates in the period include the allowance for credit losses on accounts and other receivables, impairment loss on inventories, assumptions used in assessing right of use assets and impairment of long-lived assets, and deferred tax valuation allowance.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Basis of Consolidation</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements include the consolidated financial statements of the Company and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Foreign Currency Translation and Transaction</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements of the Company and the Group are presented in United States Dollar, which is the functional and presentation currency of the Company and the presentation currency of the Group.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Items included in the financial statements of each entity in the Group are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). Assets and liabilities of subsidiaries whose functional currency is not the US$ are translated into US$ at exchange rates in effect at the balance sheet date. Revenues and expenses are translated at average exchange rates for the reporting period. Translation adjustments are recorded in other comprehensive income and accumulated in shareholders’ equity as foreign currency translation reserve.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the date of the balance sheet dates. The resulting exchange differences arising on the settlement of monetary items or on translating monetary items at the date of the balance sheet dates are recorded in the statement of operations.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Cash and Cash Equivalents</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and cash equivalents consist primarily of cash in readily available checking and saving accounts which are subject to an insignificant risk of change in value. The Company maintains its bank accounts in Singapore.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Accounts Receivable, net</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">Accounts receivable include trade accounts due from customers in the sale of products or delivery of services.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">Accounts receivable are recorded at the invoiced amount and do not bear interest, which are due within contractual payment terms. The normal settlement terms of accounts receivable are within 90 days upon the delivery of goods or services. Management reviews its receivables on a regular basis to determine if the bad debt allowance is adequate and provides allowance when necessary. </span>The Company estimates expected credit losses for accounts receivable in accordance with ASC 326, Financial Instruments—Credit Losses. The allowance for credit losses is estimated based on historical collection experience, aging of receivables, specific customer credit risk, current economic conditions, and reasonable and supportable forecasts that affect collectability. Accounts receivable are written off against the allowance when management determines that the receivable is uncollectible. <span style="background-color: white">The </span>Company’s management continues to evaluate the reasonableness of the valuation allowance policy and update it if necessary.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company does not hold any collateral or other credit enhancements overs its accounts receivable balances.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Net investment in sales-type lease</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">A net investment in finance lease is recognized if a lease meets specific criteria under Accounting Standards Codification (“ASC”) 842 at its inception. Upon commencement of the lease, the book value of the equipment is de-recognized and a net investment in finance lease is recognized in our Consolidated Balance Sheets based on the present value of fixed payments under the contract and the residual value of the underlying asset, discounted at the rate implicit in the lease. The Company recognize the difference between the book value of the equipment and the net investment in the lease in equipment sales in our Consolidated Statement of Operations. Interest income on our net investment in finance leases is recognized over the lease term in a manner that produces a constant rate of return on the net investment in the lease. (Refer to Lease for more information).</span></p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Inventories</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventories are valued at the lower of cost or net realizable value. Cost is determined by the weighted average cost method. The Company records adjustments to its inventory for estimated obsolescence or diminution in net realizable value equal to the difference between the cost of the inventory and the estimated net realizable value. At the point of loss recognition, a new cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Deferred Offering Costs</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred offering costs, which consist of direct incremental legal, accounting, and consulting fees relating to the Company’s proposed initial public offering (“IPO”), are capitalized in “Deposits, prepayments and other receivables” on the consolidated balance sheets. The deferred offering costs will be offset against IPO proceeds upon the consummation of an IPO. In the event the planned IPO is terminated, the deferred offering costs will be expensed.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Property and Equipment, net</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values:</p><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center">Expected <br/> useful life</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Computer equipment</td><td style="width: 1%"> </td> <td style="width: 19%; text-align: center">3 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Furniture, fixtures and fittings</td><td> </td> <td style="text-align: center">3 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Equipment</td><td> </td> <td style="text-align: center">3 to 7 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Motor vehicles</td><td> </td> <td style="text-align: center">5 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Renovation</td><td> </td> <td style="text-align: center">3 years</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Expenditure for repairs and maintenance is expensed as incurred. When assets have retired or sold, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the results of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center">Expected <br/> useful life</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Computer equipment</td><td style="width: 1%"> </td> <td style="width: 19%; text-align: center">3 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Furniture, fixtures and fittings</td><td> </td> <td style="text-align: center">3 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Equipment</td><td> </td> <td style="text-align: center">3 to 7 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Motor vehicles</td><td> </td> <td style="text-align: center">5 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Renovation</td><td> </td> <td style="text-align: center">3 years</td></tr> </table> P3Y P3Y P3Y P7Y P5Y P3Y <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Intangible assets</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The software license is acquired by the Company. It is initially recognized at cost and subsequently carried at cost less accumulated amortization and accumulated impairment losses, if any. Amortization is calculated on the straight-line basis over its expected useful lives of 7 years.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Software development costs consists of costs incurred to develop cloud-based applications used to deliver our services. Costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the technological feasibility stage, internal and external costs, if direct and incremental, are capitalized until the software is substantially complete and ready for its intended use. Capitalization ceases upon completion of all substantial testing. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional features and functionality. Maintenance costs are expensed as incurred. As of balance sheet date, the software is in progress of development and not amortized until it is ready for intended use.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">An intangible asset is derecognized on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the intangible asset, are recognized in profit or loss when the intangible asset is derecognized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The intangible assets are tested annually for impairment.</p> P7Y <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Impairment of Long-lived Assets</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Long-lived assets are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount may not be fully recoverable or that the useful life is shorter than the Company had originally estimated. When these events occur, the Company evaluates the impairment by comparing carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Company recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Revenue Recognition</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC 606”) <i>Revenue from Contracts with Customers</i>, revenue is recognized when a customer obtains control of promised products and services. The amount of revenue recognized reflects the consideration which the Company expects to be entitled to receive in exchange for these products and services. To achieve this core principle, the Company applies the following five steps as per Accounting Standards Update (“ASU”) No. 2014-09:</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">1.</span></td><td style="text-align: justify">Identification of the contract(s) with a customer</td> </tr></table><p style="margin-left: 0.25in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">A contract with a customer exists when</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">(i)</td><td style="text-align: justify">the Company enters into an enforceable contract with a customer that defines each party’s rights regarding the goods or services to be transferred and identifies the payment terms related to these goods or services,</td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">(ii)</td><td style="text-align: justify">the contract has commercial substance, and</td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">(iii)</td><td style="text-align: justify">the Company determines that collection of substantially all consideration for goods or services that are transferred is probable based on historical results and the customer’s ability to pay the promised consideration. The Company’s contracts are typically evidenced through a signed Company quote or a customer purchase order and Company quote.</td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">2.</span></td><td style="text-align: justify">Identification of the performance obligations in the contract</td> </tr></table><p style="margin-left: 0.25in; font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">At contract inception, the Company evaluates whether a single contract includes more than one performance obligation. Performance obligations promised in a contract are identified based on the goods or services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the goods or services either on their own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the goods or services is separately identifiable from other promises in the contract. To the extent a contract includes multiple promised goods or services, the Company applies judgment to determine whether promised goods or services are capable of being distinct in the context of the contract. If these criteria are not met, the promised goods or services are accounted for as a combined performance obligation.  </p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">3.</span></td><td style="text-align: justify">Determination of the transaction price</td> </tr></table><p style="margin-left: 0.25in; font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring goods or services to the customer. Such amounts are stated within the customer contracts.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">4.</span></td><td style="text-align: justify">Allocation of the transaction price to the performance obligations in the contract</td> </tr></table><p style="margin-left: 0.25in; font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price (SSP) basis. The Company determines SSP based on the price at which the performance obligation is sold separately. If the SSP is not observable through past transactions, the Company estimates the SSP taking into consideration available information, such as market conditions and internally approved pricing guidelines related to the performance obligations.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left">5.</td><td style="text-align: justify">Recognition of revenue when or as the Company satisfies a performance obligation</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><b><i>Satellite connectivity solution</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The Company provide various type of satellite connectivity solution to our customers:</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">(a)</td><td style="text-align: justify">Subscription</td> </tr></table><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Monthly subscription fee is charged to customers for the satellite connection service in relating to the airtime, bandwidth subscription plan and value-added service subscribed. The revenue is recognized ratably over the period of the contract.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">(b)</td><td style="text-align: justify">Sales of satellite network equipment and devices</td> </tr></table><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The sales of satellite network equipment and devices including antenna, satellite phone, battery, wall charger, modem etc. The equipment is shipped and installed at the destination specified by the customer. As such, shipping and handling services are part of the performance obligation to deliver the equipment to customers. The revenue, including the shipping and handling fee charged to customers, is recognized at the point in time when control and ownership of the goods is transferred to the customer.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">(c)</td><td style="text-align: justify">Integrated satellite connectivity solution</td> </tr></table><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company offers integrated satellite connectivity solution to our customer, which includes both airtime and the satellite network equipment for network connection. Contract with customer comprise multiple performance obligations and may have lease components. The total contract consideration is allocated to the airtime service and the sales of satellite network equipment and devices, which represents distinct performance obligations. The revenue in relating to the airtime subscription fee is recognized according to (a) above. For satellite network equipment and devices, the Company assesses at contract inception whether it meet the criteria of lease. If the criteria are met, the revenue is recognized according to ASC 842, Leases (refer to the note in relating to lease). If the criteria are not met, the revenue from the sales of satellite network equipment and devices are recognized upon the completion of installation and the transfer of control to the customer.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><b><i>Digitalization and other solution</i></b></p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">(a)</td><td style="text-align: justify">Digital platform service – The Company provides customers access to the digital platform (“Jarviss”) to obtain real time information for their daily operation management.  Monthly subscription fee is charged to the customers based on the number of user access and number of service elements subscribed. Revenue recognition commences rateably when control of the services is transferred to the customers, in an amount that reflects the consideration that the Company expects to receive in exchange for those services over the contractual term.</td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">(b)</td><td style="text-align: justify">Provision of information technology (IT) support - Customer specifies their IT support requirement in a contract, which may include IT help desk service, technical support, installation of software in the devices as specified etc. Performance obligations promised in the contract are identified based on the goods or services that to be delivered to the customer. Revenue recognition commences when or as the Company satisfies a performance obligation and the control of the goods or services transferred to the customer.</td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">(c)</td><td style="text-align: justify">Provision of shipboard support services – The Company supplies shipboard equipment and/or engineering service as per customer’s specification. Equipment is installed at the destination specified by the customers. As such, shipping and handling services are part of the performance obligation to deliver the equipment to customers. Revenue, including the shipping and handling fee charged to customers, is recognized when or as the Company satisfies a performance obligation and the control of the goods or services transferred to the customer.</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The Company is subject to GST which is levied on the products at the rate of 0% - 9% (2025: 0% - 9% and 2024: 0% - 8%) on the invoiced value of sales in Singapore. The Company records its revenues on product sales, net of good and service taxes (“GST”). </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">Advance payment from customer on future products are recorded as customer deposit and recognized as income when the control and ownership of the good is transferred to the customer.</span>  <span style="background-color: white">The deposits received in advance from customers were $1,298,959 and $1,377,535 as at March 31, 2026 and March 31, 2025, respectively.</span></p> 0 0.09 0 0.09 0 0.08 1298959 1377535 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Lease</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">The Company assesses at contract inception whether a contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The lease term corresponds to the non-cancellable period of each contract.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheet; the Company recognizes lease expense or income for these leases on a straight-line basis over the lease term.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"><b>The Company as a lessor</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">At the commencement date, the lease payments are fixed payments. <span style="background-color: white">Lease payments do not include variable lease payments that do not depend on an index or a rate.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">Leases are classified at the lease commencement date as either a sales-type lease or an operating lease. The lessor shall classify a lease as a sales-type lease when the lease meets any of the following criteria:</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">a)</td><td style="text-align: justify">the lease transfers ownership of the underlying asset to the lessee by the end of the lease term;</td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">b)</td><td style="text-align: justify">the lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise;</td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">c)</td><td style="text-align: justify">the lease term is for the major part of the remaining economic life of the underlying asset;</td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">d)</td><td style="text-align: justify">the present value of the sum of the lease payments equals or exceeds substantially all of the fair value of the underlying asset; or</td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">e)</td><td style="text-align: justify">the underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term.</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">Notwithstanding the above criteria, leases are classified as operating leases if they have variable lease payments that do not depend on an index or rate and if classifying the lease as a sales-type lease or a direct financing lease would result in the recognition of a selling loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">For a sales-type lease, at the lease commencement, net investment in the lease is recognized by the sum of the lease receivable and the unguaranteed residual asset. Lease receivable is the present values of the sum of lease payments and the guaranteed residual asset. The Company recognizes all revenue and costs associated with the sales-type lease as revenue from leasing activities and cost of leasing activities<b><i> </i></b>upon delivery of the underlying asset to the customer. Interest income based on the implicit rate in the lease is recorded to finance income over time as customers are invoiced on a monthly basis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">All other leases are accounted for as operating leases wherein the Company recognizes, at the commencement date, the lease payments as income in profit or loss over the lease term on a straight-line basis and the Company recognizes variable lease payments as income in profit or loss in the period in which the changes in facts and circumstances on which the variable lease payment are based occur.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">The Company suspend recognition of sales-type lease revenue and operating lease revenue and place the account on non-accrual status when management determines that collection of future income is not probable (generally after 60 days past due). The Company resume recognition of revenue, and recognize previously suspended income, when the Company consider collection of remaining amounts to be probable. The Company write off interest earned but uncollected prior to the receivables being placed on non-accrual status through allowance for credit losses when, in the judgment of management, the Company consider it to be uncollectible.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white"><b>The Company as a lessee</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">Leases are classified at the inception date as either a finance lease or an operating lease. As the lessee, a lease is a finance lease if any of the following conditions exist:</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">a)</td><td style="text-align: justify">ownership is transferred to the lessee by the end of the lease term,</td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">b)</td><td style="text-align: justify">there is a bargain purchase option,</td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">c)</td><td style="text-align: justify">the lease term is at least 75% of the asset’s estimated remaining economic life,</td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">d)</td><td style="text-align: justify">the present value of the minimum lease payments at the beginning of the lease term is 90% or more of the fair value of the leased asset to the lessor at the inception date or</td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">e)</td><td style="text-align: justify">the leased asset is of such a specialized nature that it is expected to have no alternative use.</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">Finance lease assets are presented separately on the consolidated balance sheet as finance lease right-of-use assets, and current and non-current portion of finance lease liabilities.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">All other leases are accounted for as operating leases wherein rental payments are expensed on a straight-line basis over the periods of their respective leases. Operating leases (with an initial term of more than 12 months) are included in operating lease right-of-use (“ROU”) assets, operating lease liabilities (current), and operating lease liabilities (non-current) in the consolidated balance sheet. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company utilizes a market-based approach to estimate the incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any lease prepayments, reduced by lease incentives and accrued rent. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17pt; text-align: justify; background-color: white">The accounting update also requires that for finance leases, a lessee recognize interest expense on the lease liability, separately from the amortization of the right-of-use asset in the statements of earnings, while for operating leases, such amounts should be recognized as a combined expense. In addition, this accounting update requires expanded disclosures about the nature and terms of lease agreements.</p> 0.75 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Shipping and Handling costs</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">Shipping and handling costs are included in cost of revenue as it is part of the Company’s fulfilment activity to satisfy the performance obligation as specified in the sales contract.</span></p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Sales and Marketing</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">Sales and marketing expenses include payroll, employee benefits and other headcount-related expenses associated with sales and marketing personnel, and the costs of advertising, promotions, seminars, and other programs. Advertising costs are expensed as incurred. Advertising expense was $56,562, $65,841 and $67,994 for the year ended March 31, 2026, 2025 and 2024, respectively.</span></p> 56562 65841 67994 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Government Grant</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">A government grant or subsidy is not recognized until there is reasonable assurance that: (a) the enterprise will comply with the conditions attached to the grant; and (b) the grant will be received. When the Company receives government grant or subsidies but the conditions attached to the grants have not been fulfilled, such government subsidies are deferred and recorded under other payables and accrued expenses, and other long-term liability. The classification of short-term or long-term liabilities is dependent on the management’s expectation of when the conditions attached to the grant can be fulfilled. </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The government evaluates the Company’s eligibility for the grants on a consistent basis, and then makes the payment. Government grants are recognized when received and all the conditions for their receipt have been met and are recorded as part of Other Income. The grants received were $14,826, $17,079 and $19,436 for the years ended March 31, 2026, 2025 and 2024, respectively from the Singapore Government.</p> 14826 17079 19436 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Comprehensive Income (Loss)</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ASC Topic 220, <i>Comprehensive Income</i>, establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Comprehensive income as defined includes all changes in equity during a period from non-owner sources. Accumulated other comprehensive income, as presented in the accompanying statement of shareholder’s equity, consists of changes in unrealized gains and losses on foreign currency translation. This comprehensive income is not included in the computation of income tax expense or benefit.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Income Taxes</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Income taxes are determined in accordance with the provisions of ASC Topic 740, <i>Income Taxes</i> (“ASC 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their consolidated financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the consolidated financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is subject to tax in its local jurisdiction. As a result of its business activities, the Company files tax returns that are subject to examination by the local tax authorities. As such, the current and deferred tax were assessed based on each subsidiary’s local tax jurisdiction.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2026 and March 31, 2025, the Company has <span style="-sec-ix-hidden: hidden-fact-71"><span style="-sec-ix-hidden: hidden-fact-72">no</span></span> significant unrecognized deferred tax assets and liabilities.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Goods and services tax (“GST”)</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenues, expenses and assets are recognized net of the amount of GST except:</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">-</td><td style="text-align: justify">Where the GST incurred on a purchase of assets or services is not recoverable from the taxation authority, in which case the GST is recognized as part of the cost of acquisition of the asset or as part of the expense item as applicable; and</td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">-</td><td style="text-align: justify">Receivables and payables that are stated with the amount of GST included.</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the consolidated balance sheets. </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended March 31, 2026, 2025 and 2024, the Company did not have any interest and penalties associated with tax positions. As of March 31, 2026 and March 31, 2025, the Company did not have any significant unrecognized uncertain tax positions.</p> 0.50 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Retirement Plan Costs</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Contributions to retirement plans (which are defined contribution plans) are charged to general and administrative expenses in the accompanying statements of operation as the related employee service are provided. The Company is required to make contribution to their employees under a government-mandated multi-employer defined contribution pension scheme for its eligible full-times employees in Singapore. The Company is required to contribute a specified percentage of the participants’ relevant income based on their ages and wages level. The contributions made for the year ended March 31, 2026, 2025 and 2024 were $325,484, $248,842 and $181,512 respectively.</p> 325484 248842 181512 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Segment Reporting</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FASB ASC 280, “<i>Segment Reporting”</i>, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Operating segments are defined as components of an enterprise which engage in business activities from which they may earn revenues and incur expenses, and about which separate financial information is available that is evaluated regularly by the chief operating decision-maker, who is the Company’s Chief Executive Officer, in deciding how to allocate resources and in assessing performance. Reportable segments are defined as an operating segment that either (a) exceeds 10% of revenue, or (b) reported profit or loss in absolute amount exceeds 10% of profit of all operating segments that did not report a loss or (c) exceeds 10% of the combined assets of all operating segments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Group has two operating segments, namely Satellite connectivity solution and Digitalization and other solution (refer to Note 2 of Revenue recognition for further details). The internal reports have been prepared based on these operating segments for decision making and performance assessment. It is, therefore, used as the source for reportable segments of the Company.</p> Segment 0.10 0.10 0.10 2 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Related Parties</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company follows the ASC 850-10, <i>Related Party</i> for the identification of related parties and disclosure of related party transactions.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to section 850-10-20 the related parties include: (a) affiliates of the Company; (b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825–10–15, to be accounted for by the equity method by the investing entity; (c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by or under the trusteeship of management; (d) principal owners of the Company; (e) management of the Company; (f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and (g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: (a) the nature of the relationship(s) involved; (b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; (c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and (d) amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Commitments and Contingencies</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company follows the ASC 450-20, <i>Commitments to report accounting for contingencies</i>. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Concentration of Credit Risk</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to credit risk consist of cash equivalents, restricted cash, accounts receivable. Cash equivalents are maintained with high credit quality institutions, the composition and maturities of which are regularly monitored by management. The Singapore Deposit Protection Board pays compensation up to a limit of S$100,000 (approximately $77,515) if the bank with which an individual/a company hold its eligible deposit fails. As of March 31, 2026, cash balances of $2.1 million, held at financial institutions in Singapore, were subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For accounts receivable, the Company records an allowance for credit losses in accordance with ASC 326, Financial Instruments—Credit Losses. The allowance for credit losses represents management’s estimate of expected credit losses over the contractual life of the receivables and is measured based on historical collection experience, aging of receivables, customer-specific credit risk, current economic conditions, and reasonable and supportable forecasts that affect collectability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluates accounts receivable on a collective basis when receivables share similar risk characteristics and on an individual basis when specific receivables no longer share similar risk characteristics or when specific collection concerns are identified.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company monitors credit risk on an ongoing basis, including concentrations of credit risk. Concentration of credit risk may arise when customers have similar characteristics such that their ability to meet their obligations is expected to be affected similarly by changes in economic conditions. </p> 100000 77515 2100000 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-size: 10pt">Exchange Rate Risk</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The reporting currency of the Company is US$, to date the majority of the Company’s revenues and costs are denominated in US$ and S$, a majority of the Company’s assets are denominated in US$ and S$ and a significant portion of the Company’s liabilities are denominated in S$. As a result, the Company is exposed to foreign exchange risk as its revenues and results of operations may be affected by fluctuations in the exchange rate between US$ and S$. If S$ depreciates against US$, the value of S$ revenues, costs and assets as expressed in US$ financial statements will decline. The Company does not hold any derivative or other financial instruments that expose to substantial market risk.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Liquidity Risk</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company’s policy is to ensure that it has sufficient cash to meet its liabilities when they become due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation. A key risk in managing liquidity is the degree of uncertainty in the cash flow projections. If future cash flows are fairly uncertain, the liquidity risk increases.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Fair Value Measurement</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company follows the guidance of the ASC Topic 820-10, <i>Fair Value Measurements and Disclosure</i> (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in; text-align: justify"><span style="font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>Level 1</i> : Inputs are based upon unadjusted quoted prices for identical instruments traded in active markets;</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"><span style="font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>Level 2 :</i> Inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques (e.g. Black-Scholes Option-Pricing model) for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs; and</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"><span style="font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>Level 3</i> : Inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques, including option pricing models and discounted cash flow models.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The carrying value of the Company’s financial instruments: cash and cash equivalents, restricted cash, accounts receivable, loans receivable, accounts payable, income tax payable, amount due to a related party, other payables and accrued liabilities approximate at their fair values because of the short-term nature of these financial instruments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management believes, based on the current market prices or interest rates for similar debt instruments, the fair value of note payable approximate the carrying amount. <span style="background-color: white">The Company accounts for loans receivable at cost, subject to impairment testing. The Company obtains a third-party valuation based upon loan level data including note rate, type and term of the underlying loans.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s non-marketable equity securities are investments in privately held companies, which are without readily determinable market values and are classified as Level 3, due to the absence of quoted market prices, the inherent lack of liquidity and the fact that inputs used to measure fair value are unobservable and require management’s judgment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value estimates are made at a specific point in time based on relevant market information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; text-align: justify"><span style="font-size: 10pt">● </span></td> <td style="text-align: justify"><span style="font-size: 10pt">Recently Issued Accounting Pronouncements </span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Recently Adopted Accounting Pronouncements</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The Company adopted ASU 2023-07 in these consolidated financial statements. The adoption did not have a material impact on the Company’s consolidated financial statements other than enhanced segment disclosures.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The Company adopted ASU 2023-09 for the annual period ended March 31, 2026. The adoption did not have a material impact on the Company’s financial position, results of operations or cash flows, but resulted in enhanced income tax disclosures.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Recently Issued Accounting Pronouncements Not Yet Adopted</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. In January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03 for public business entities, including non-calendar-year entities. The amendments are effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027. The Company is currently evaluating the impact of this guidance on its consolidated financial statement disclosures.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. ASU 2025-05 provides targeted amendments related to the measurement of expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under ASC 606, Revenue from Contracts with Customers. The Company is currently evaluating the impact of the guidance on its consolidated financial statements and related disclosures.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. ASU 2025-06 modernizes the accounting guidance for internal-use software costs. The Company is currently evaluating the impact of the guidance on its accounting policies for software development costs and related disclosures.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities. ASU 2025-10 establishes accounting guidance for the recognition, measurement, presentation and disclosure of government grants received by business entities. The Company is currently evaluating the impact of the guidance on its consolidated financial statements and related disclosures.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 consolidated financial statements.</p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>NOTE – 3 BUSINESS SEGMENT AND DISAGGREGATION OF REVENUE</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has disaggregated its revenue from contracts with customers into categories based on the business segment and nature of the revenue in the following table:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="font: normal 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="46" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Years ended March 31,</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td></tr> <tr style="font: normal 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">2026</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">2025</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">2024</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td></tr> <tr style="font: normal 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Satellite <br/> connectivity <br/> solution</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Digitalization <br/> and other <br/> solution</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: normal 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Unallocated</span></p></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Total</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Satellite <br/> connectivity <br/> solution</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Digitalization <br/> and other <br/> solution</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: normal 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Unallocated</span></p></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Total</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Satellite <br/> connectivity <br/> solution</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Digitalization <br/> and other <br/> solution</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Unallocated</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Total</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td></tr> <tr style="font-size: 8pt; vertical-align: bottom"> <td style="font-size: 8pt; font-weight: bold">Revenue</td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-indent: -10pt; padding-left: 20pt; width: 24.4%">Subscription</td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left">$</td><td style="font-size: 8pt; width: 6%; text-align: right">5,090,759</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right">1,411,220</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-73">—</div></td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right">6,501,979</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left">$</td><td style="font-size: 8pt; width: 6%; text-align: right">4,408,157</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right">503,586</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-74">—</div></td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right">4,911,743</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left">$</td><td style="font-size: 8pt; width: 6%; text-align: right">3,678,354</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right">369,179</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-75">—</div></td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right">4,047,533</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 20pt">Equipment, device and services</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">1,548,864</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">6,658,396</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-76">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">8,207,260</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">2,250,024</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">3,316,783</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-77">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">5,566,807</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">1,933,744</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">2,588,793</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-78">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">4,522,537</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; padding-bottom: 4pt"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">6,639,623</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">8,069,616</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-79">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">14,709,239</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">6,658,181</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">3,820,369</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-80">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">10,478,550</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">5,612,098</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">2,957,972</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-81">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">8,570,070</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-indent: -10pt; padding-left: 10pt">Cost of revenue</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-indent: -10pt; padding-left: 20pt">Subscription</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left">$</td><td style="font-size: 8pt; text-align: right">(3,472,419</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(866,256</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-82">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(4,338,675</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left">$</td><td style="font-size: 8pt; text-align: right">(2,920,327</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(532,030</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-83">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(3,452,357</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left">$</td><td style="font-size: 8pt; text-align: right">(2,018,989</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(363,207</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-84">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(2,382,196</td><td style="font-size: 8pt; text-align: left">)</td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 20pt">Equipment, device and services</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(1,418,651</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(5,800,571</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-85">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(7,219,222</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(2,036,887</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(3,125,072</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-86">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(5,161,959</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(1,931,319</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(2,410,964</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-87">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(4,342,283</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; padding-bottom: 4pt"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(4,891,070</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(6,666,827</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-88">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(11,557,897</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(4,957,214</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(3,657,102</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-89">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(8,614,316</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(3,950,308</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(2,774,171</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-90">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(6,724,479</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left; text-indent: -10pt; padding-left: 10pt">Gross profit / (loss)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-indent: -10pt; padding-left: 20pt">Subscription</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left">$</td><td style="font-size: 8pt; text-align: right">1,618,340</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">544,964</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-91">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">2,163,304</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left">$</td><td style="font-size: 8pt; text-align: right">1,487,830</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(28,444</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-92">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">1,459,386</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left">$</td><td style="font-size: 8pt; text-align: right">1,659,365</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">5,972</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-93">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">1,665,337</td><td style="font-size: 8pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 20pt">Equipment, device and services</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">130,213</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">857,825</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-94">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">988,038</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">213,137</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">191,711</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-95"> </div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">404,848</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">2,425</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">177,829</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-96">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">180,254</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; padding-bottom: 4pt"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,748,553</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,402,789</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-97">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">3,151,342</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,700,967</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">163,267</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-98">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,864,234</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,661,790</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">183,801</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-99">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,845,591</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt">Operating expenses</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(85,122</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-100">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(4,199,823</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(4,284,945</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(124,265</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-101">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(1,942,623</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(2,066,888</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(74,844</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-102">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(1,803,896</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(1,878,740</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Income/(loss) from operations</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">1,663,431</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">1,402,789</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(4,199,823</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(1,133,603</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">1,576,702</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">163,267</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(1,942,623</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(202,654</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">1,586,946</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">183,801</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(1,803,896</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(33,149</td><td style="font-size: 8pt; text-align: left">)</td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-indent: -10pt; padding-left: 10pt"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Finance income</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">15,679</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-103">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-104">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">15,679</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">23,671</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-105">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-106">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">23,671</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">20,743</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-107">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-108">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">20,743</td><td style="font-size: 8pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt">Finance cost</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(39,593</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-109">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(25,156</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(64,749</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(29,015</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-110">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(5,687</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(34,702</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(29,370</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-111">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(6,460</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(35,830</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -10pt; padding-left: 10pt">Income/ (loss) before income taxes</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,639,517</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,402,789</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(4,224,979</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(1,182,673</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,571,358</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">163,267</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(1,948,310</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(213,685</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,578,319</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">183,801</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(1,810,356</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(48,236</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td></tr> </table><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; font-style: normal; font-weight: normal"> <td style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">March 31, 2026</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">March 31, 2025</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; font-style: normal; font-weight: normal"> <td style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Satellite <br/> connectivity <br/> solution</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Digitalization <br/> and other <br/> solution</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: center; font-style: normal; font-weight: normal"><p style="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Unallocated</span></p></td><td style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Total</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Satellite <br/> connectivity <br/> solution</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Digitalization <br/> and other <br/> solution</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: center; font-style: normal; font-weight: normal"><p style="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Unallocated</span></p></td><td style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Total</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 20%; font-weight: bold; text-align: left; text-indent: -10pt; padding-left: 10pt">Segment assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">2,004,208</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">1,706,398</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">4,770,524</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">8,481,130</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">2,496,724</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">1,119,209</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">2,050,572</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">5,666,505</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; text-indent: -10pt; padding-left: 10pt">Segment liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,808,308</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">637,461</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,569,678</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,015,447</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,225,732</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">802,457</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">892,835</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,921,024</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The following table presents revenues earned from external customers:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Subscription income from satellite connection service</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,090,759</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,408,157</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,678,354</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sales and lease of satellite network equipment and device</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,548,864</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,250,024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,933,744</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Subscription income from Jarviss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,411,220</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">503,586</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">369,179</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Revenue from IT support services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,622,145</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,194,055</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,418,470</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Revenue from shipboard support services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">36,251</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">122,728</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">170,323</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,709,239</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">10,478,550</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">8,570,070</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The major customers (refer to Note 16(a) for further details) contributed for $5,048,549 (2025: $2,424,451 and 2024: $869,824) of the Company’s total revenue.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Included in the revenue from sales and lease of equipment, device and services of satellite connectivity solution of $1,548,864 (2025: $2,250,024 and 2024: $1,933,744), the lease income from sales-type lease and operating lease are as below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left"><span style="-sec-ix-hidden: hidden-fact-112">Sales-type lease income</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">69,511</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">147,707</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">409,931</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt"><span style="-sec-ix-hidden: hidden-fact-113">Operating lease income</span></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">337,826</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">226,500</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">116,150</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">407,337</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">374,207</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">526,081</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The following table presents revenues by geographic area based on the</span> countries in which the customer is located:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Singapore</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">10,107,584</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,228,044</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,407,171</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Israel</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,179,716</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,316,832</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">869,824</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Malaysia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,338,876</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,126,294</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,130,439</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Vietnam</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">509,391</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">675,186</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">534,472</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Republic of Marshall Islands</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">320,038</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">428,251</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">376,457</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Thailand</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">112,354</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">295,814</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">625,178</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Indonesia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">307,191</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">398,979</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">816,023</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">United Kingdom</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">302,898</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-114">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-115">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Republic of China</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">61,715</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">239,124</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,500</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">469,476</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">770,026</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">754,006</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,709,239</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">10,478,550</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">8,570,070</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has disaggregated its revenue from contracts with customers into categories based on the business segment and nature of the revenue in the following table:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="font: normal 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="46" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Years ended March 31,</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td></tr> <tr style="font: normal 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">2026</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">2025</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">2024</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td></tr> <tr style="font: normal 8pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Satellite <br/> connectivity <br/> solution</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Digitalization <br/> and other <br/> solution</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: normal 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Unallocated</span></p></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Total</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Satellite <br/> connectivity <br/> solution</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Digitalization <br/> and other <br/> solution</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><p style="font: normal 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Unallocated</span></p></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Total</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Satellite <br/> connectivity <br/> solution</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Digitalization <br/> and other <br/> solution</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Unallocated</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: normal 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal">Total</span></td><td style="font: normal 8pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt; font-style: normal; font-weight: normal"> </span></td></tr> <tr style="font-size: 8pt; vertical-align: bottom"> <td style="font-size: 8pt; font-weight: bold">Revenue</td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td colspan="2" style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-indent: -10pt; padding-left: 20pt; width: 24.4%">Subscription</td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left">$</td><td style="font-size: 8pt; width: 6%; text-align: right">5,090,759</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right">1,411,220</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-73">—</div></td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right">6,501,979</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left">$</td><td style="font-size: 8pt; width: 6%; text-align: right">4,408,157</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right">503,586</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-74">—</div></td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right">4,911,743</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left">$</td><td style="font-size: 8pt; width: 6%; text-align: right">3,678,354</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right">369,179</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-75">—</div></td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 0.1%"> </td> <td style="font-size: 8pt; width: 0.1%; text-align: left"> </td><td style="font-size: 8pt; width: 6%; text-align: right">4,047,533</td><td style="font-size: 8pt; width: 0.1%; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 20pt">Equipment, device and services</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">1,548,864</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">6,658,396</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-76">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">8,207,260</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">2,250,024</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">3,316,783</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-77">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">5,566,807</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">1,933,744</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">2,588,793</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-78">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">4,522,537</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; padding-bottom: 4pt"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">6,639,623</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">8,069,616</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-79">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">14,709,239</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">6,658,181</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">3,820,369</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-80">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">10,478,550</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">5,612,098</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">2,957,972</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-81">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">8,570,070</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-indent: -10pt; padding-left: 10pt">Cost of revenue</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-indent: -10pt; padding-left: 20pt">Subscription</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left">$</td><td style="font-size: 8pt; text-align: right">(3,472,419</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(866,256</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-82">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(4,338,675</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left">$</td><td style="font-size: 8pt; text-align: right">(2,920,327</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(532,030</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-83">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(3,452,357</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left">$</td><td style="font-size: 8pt; text-align: right">(2,018,989</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(363,207</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-84">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(2,382,196</td><td style="font-size: 8pt; text-align: left">)</td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 20pt">Equipment, device and services</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(1,418,651</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(5,800,571</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-85">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(7,219,222</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(2,036,887</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(3,125,072</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-86">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(5,161,959</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(1,931,319</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(2,410,964</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-87">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(4,342,283</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; padding-bottom: 4pt"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(4,891,070</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(6,666,827</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-88">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(11,557,897</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(4,957,214</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(3,657,102</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-89">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(8,614,316</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(3,950,308</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(2,774,171</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-90">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(6,724,479</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left; text-indent: -10pt; padding-left: 10pt">Gross profit / (loss)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-indent: -10pt; padding-left: 20pt">Subscription</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left">$</td><td style="font-size: 8pt; text-align: right">1,618,340</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">544,964</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-91">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">2,163,304</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left">$</td><td style="font-size: 8pt; text-align: right">1,487,830</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(28,444</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-92">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">1,459,386</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left">$</td><td style="font-size: 8pt; text-align: right">1,659,365</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">5,972</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-93">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">1,665,337</td><td style="font-size: 8pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 20pt">Equipment, device and services</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">130,213</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">857,825</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-94">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">988,038</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">213,137</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">191,711</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-95"> </div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">404,848</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">2,425</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">177,829</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-96">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">180,254</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; padding-bottom: 4pt"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,748,553</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,402,789</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-97">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">3,151,342</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,700,967</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">163,267</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-98">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,864,234</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,661,790</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">183,801</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-99">—</div></td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,845,591</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt">Operating expenses</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(85,122</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-100">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(4,199,823</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(4,284,945</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(124,265</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-101">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(1,942,623</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(2,066,888</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(74,844</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-102">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(1,803,896</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(1,878,740</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Income/(loss) from operations</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">1,663,431</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">1,402,789</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(4,199,823</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(1,133,603</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">1,576,702</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">163,267</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(1,942,623</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(202,654</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">1,586,946</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">183,801</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(1,803,896</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(33,149</td><td style="font-size: 8pt; text-align: left">)</td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-indent: -10pt; padding-left: 10pt"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Finance income</td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">15,679</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-103">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-104">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">15,679</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">23,671</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-105">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-106">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">23,671</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">20,743</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-107">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-108">—</div></td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td> <td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">20,743</td><td style="font-size: 8pt; text-align: left"> </td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt">Finance cost</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(39,593</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-109">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(25,156</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(64,749</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(29,015</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-110">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(5,687</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(34,702</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(29,370</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-111">—</div></td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(6,460</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 1.5pt solid; text-align: right">(35,830</td><td style="font-size: 8pt; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="font-size: 8pt; vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -10pt; padding-left: 10pt">Income/ (loss) before income taxes</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,639,517</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,402,789</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(4,224,979</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(1,182,673</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,571,358</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">163,267</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(1,948,310</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(213,685</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">1,578,319</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">183,801</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(1,810,356</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 4pt"> </td> <td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: left"> </td><td style="font-size: 8pt; border-bottom: Black 4pt double; text-align: right">(48,236</td><td style="font-size: 8pt; padding-bottom: 2.5pt; text-align: left">)</td></tr> </table><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; font-style: normal; font-weight: normal"> <td style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">March 31, 2026</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">March 31, 2025</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; font-style: normal; font-weight: normal"> <td style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Satellite <br/> connectivity <br/> solution</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Digitalization <br/> and other <br/> solution</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: center; font-style: normal; font-weight: normal"><p style="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Unallocated</span></p></td><td style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Total</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Satellite <br/> connectivity <br/> solution</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Digitalization <br/> and other <br/> solution</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: center; font-style: normal; font-weight: normal"><p style="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></p><p style="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Unallocated</span></p></td><td style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: normal; text-align: center; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal">Total</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><span style="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: normal"> </span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 20%; font-weight: bold; text-align: left; text-indent: -10pt; padding-left: 10pt">Segment assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">2,004,208</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">1,706,398</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">4,770,524</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">8,481,130</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">2,496,724</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">1,119,209</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">2,050,572</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">5,666,505</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; text-indent: -10pt; padding-left: 10pt">Segment liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,808,308</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">637,461</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,569,678</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,015,447</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,225,732</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">802,457</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">892,835</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,921,024</td><td style="text-align: left"> </td></tr> </table> 5090759 1411220 6501979 4408157 503586 4911743 3678354 369179 4047533 1548864 6658396 8207260 2250024 3316783 5566807 1933744 2588793 4522537 6639623 8069616 14709239 6658181 3820369 10478550 5612098 2957972 8570070 3472419 866256 4338675 2920327 532030 3452357 2018989 363207 2382196 1418651 5800571 7219222 2036887 3125072 5161959 1931319 2410964 4342283 4891070 6666827 11557897 4957214 3657102 8614316 3950308 2774171 6724479 1618340 544964 2163304 1487830 -28444 1459386 1659365 5972 1665337 130213 857825 988038 213137 191711 404848 2425 177829 180254 1748553 1402789 3151342 1700967 163267 1864234 1661790 183801 1845591 85122 4199823 4284945 124265 1942623 2066888 74844 1803896 1878740 1663431 1402789 -4199823 -1133603 1576702 163267 -1942623 -202654 1586946 183801 -1803896 -33149 15679 15679 23671 23671 20743 20743 39593 25156 64749 29015 5687 34702 29370 6460 35830 1639517 1402789 -4224979 -1182673 1571358 163267 -1948310 -213685 1578319 183801 -1810356 -48236 2004208 1706398 4770524 8481130 2496724 1119209 2050572 5666505 1808308 637461 1569678 4015447 2225732 802457 892835 3921024 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The following table presents revenues earned from external customers:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Subscription income from satellite connection service</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,090,759</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,408,157</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,678,354</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sales and lease of satellite network equipment and device</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,548,864</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,250,024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,933,744</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Subscription income from Jarviss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,411,220</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">503,586</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">369,179</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Revenue from IT support services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,622,145</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,194,055</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,418,470</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Revenue from shipboard support services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">36,251</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">122,728</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">170,323</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,709,239</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">10,478,550</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">8,570,070</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 5090759 4408157 3678354 1548864 2250024 1933744 1411220 503586 369179 6622145 3194055 2418470 36251 122728 170323 14709239 10478550 8570070 5048549 2424451 869824 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Included in the revenue from sales and lease of equipment, device and services of satellite connectivity solution of $1,548,864 (2025: $2,250,024 and 2024: $1,933,744), the lease income from sales-type lease and operating lease are as below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left"><span style="-sec-ix-hidden: hidden-fact-112">Sales-type lease income</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">69,511</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">147,707</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">409,931</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt"><span style="-sec-ix-hidden: hidden-fact-113">Operating lease income</span></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">337,826</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">226,500</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">116,150</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">407,337</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">374,207</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">526,081</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1548864 2250024 1933744 69511 147707 409931 337826 226500 116150 407337 374207 526081 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The following table presents revenues by geographic area based on the</span> countries in which the customer is located:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Singapore</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">10,107,584</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,228,044</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,407,171</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Israel</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,179,716</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,316,832</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">869,824</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Malaysia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,338,876</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,126,294</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,130,439</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Vietnam</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">509,391</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">675,186</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">534,472</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Republic of Marshall Islands</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">320,038</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">428,251</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">376,457</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Thailand</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">112,354</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">295,814</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">625,178</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Indonesia</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">307,191</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">398,979</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">816,023</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">United Kingdom</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">302,898</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-114">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-115">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Republic of China</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">61,715</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">239,124</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,500</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">469,476</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">770,026</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">754,006</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,709,239</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">10,478,550</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">8,570,070</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 10107584 5228044 3407171 1179716 1316832 869824 1338876 1126294 1130439 509391 675186 534472 320038 428251 376457 112354 295814 625178 307191 398979 816023 302898 61715 239124 56500 469476 770026 754006 14709239 10478550 8570070 <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>NOTE – 4 FINANCE INCOME</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Finance income consisted of interest income from sales-type lease as a lessor. </p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="clear: both; display: block;"><br/></span></span><span style="font-size: 10pt"><b>NOTE – 5 FINANCE COSTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Finance costs consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Interest expense in relating to leases</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">40,664</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">29,015</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">29,370</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Interest expense in relating to bank borrowing</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">24,085</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,687</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,460</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">64,749</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">34,702</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">35,830</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Finance costs consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Interest expense in relating to leases</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">40,664</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">29,015</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">29,370</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Interest expense in relating to bank borrowing</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">24,085</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,687</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,460</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">64,749</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">34,702</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">35,830</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 40664 29015 29370 24085 5687 6460 64749 34702 35830 <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>NOTE – 6 ACCOUNTS RECEIVABLE, NET</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable, net consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-bottom: 4pt"> Accounts receivable, net</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">1,092,220</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">1,325,186</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company generally conducts its business with creditworthy third parties. For the year ended March 31, 2026, 2025 and 2024, the Company evaluated the collectability of accounts receivable and determined that <span style="-sec-ix-hidden: hidden-fact-118"><span style="-sec-ix-hidden: hidden-fact-119">no</span></span> allowance for credit losses was required.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable are written off after exhaustive collection efforts occur and the receivable is deemed uncollectible. In addition, receivable balances are monitored on an ongoing basis and its exposure to bad debts is not significant. There was <span style="-sec-ix-hidden: hidden-fact-120">no</span> bad debt write-offs for the year ended March 31, 2026 (2025: <span style="-sec-ix-hidden: hidden-fact-117">Nil</span> and 2024: $1,435).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At March 31, 2026 and March 31, 2025, the analysis of the accounts receivable aging at the reporting date was as follows.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Less than 30 days</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">353,262</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,103,381</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>31-60 days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">480,980</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">83,925</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>61-90 days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,402</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,735</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">More than 90 days</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">210,576</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">102,145</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,092,220</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,325,186</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The unsatisfied performance obligation resulting from long term satellite connectivity and digitalization contracts were expected to be recognized as revenue over the periods as specified below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Less than 1 year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,244,136</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,270,362</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">From 1 to 2 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,045,793</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,061,866</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">From 2 to 3 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">725,765</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">585,489</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">From 3 to 4 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,715</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">129,652</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">From 4 to 5 years</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-116">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">10,715</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">6,026,409</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,058,084</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable, net consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-bottom: 4pt"> Accounts receivable, net</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">1,092,220</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">1,325,186</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At March 31, 2026 and March 31, 2025, the analysis of the accounts receivable aging at the reporting date was as follows.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Less than 30 days</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">353,262</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,103,381</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>31-60 days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">480,980</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">83,925</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>61-90 days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,402</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,735</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">More than 90 days</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">210,576</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">102,145</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,092,220</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,325,186</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1092220 1325186 0 1435 353262 1103381 480980 83925 47402 35735 210576 102145 1092220 1325186 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The unsatisfied performance obligation resulting from long term satellite connectivity and digitalization contracts were expected to be recognized as revenue over the periods as specified below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Less than 1 year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,244,136</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,270,362</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">From 1 to 2 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,045,793</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,061,866</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">From 2 to 3 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">725,765</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">585,489</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">From 3 to 4 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,715</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">129,652</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">From 4 to 5 years</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-116">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">10,715</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">6,026,409</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,058,084</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 3244136 2270362 2045793 1061866 725765 585489 10715 129652 10715 6026409 4058084 <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>NOTE – 7 INVENTORIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s inventories consisted of the following:-</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 76%; text-align: left; padding-bottom: 4pt">Satellite network and information technology equipment, at cost</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 4pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; border-bottom: Black 4pt double; text-align: right">1,228,077</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 4pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; border-bottom: Black 4pt double; text-align: right">690,521</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="-sec-ix-hidden: hidden-fact-121"><span style="-sec-ix-hidden: hidden-fact-122">No</span></span> reserve for obsolete inventories as of March 31, 2026 and March 31, 2025. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s inventories consisted of the following:-</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 76%; text-align: left; padding-bottom: 4pt">Satellite network and information technology equipment, at cost</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 4pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; border-bottom: Black 4pt double; text-align: right">1,228,077</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 4pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; border-bottom: Black 4pt double; text-align: right">690,521</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> </table> 1228077 690521 <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>NOTE – 8 DEFERRED OFFERING COSTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">Included in the </span>deposits, prepayments and other receivables<span style="background-color: white">, t</span>he deferred offering costs as of March 31, 2026 and March 31, 2025 <span style="background-color: white">were as follows</span>:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-bottom: 4pt">Deferred offering costs</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-123">-</div></td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">1,021,405</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">Included in the </span>deposits, prepayments and other receivables<span style="background-color: white">, t</span>he deferred offering costs as of March 31, 2026 and March 31, 2025 <span style="background-color: white">were as follows</span>:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-bottom: 4pt">Deferred offering costs</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-123">-</div></td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">1,021,405</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> </table> 1021405 <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>NOTE – 9 PROPERTY AND EQUIPMENT, NET</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td>At cost:</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Right-of-use assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,117,118</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">580,401</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,415,816</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,221,925</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Renovation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,031</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-124">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Computer equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125,737</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">157,754</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Furniture, fixtures and fittings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,693</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,199</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Motor vehicles</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,179</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,020,395</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,976,458</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt"> Less: accumulated depreciation</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,265,503</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,102,196</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Property and equipment, net</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,754,892</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">874,262</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment under finance leasing arrangements classified under equipment as of March 31, 2026 and March 31, 2025 amounted to $489,951 and $622,075, respectively. Details of such leased assets are disclosed in Note 10.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-hidden: hidden-fact-128"><span style="-sec-ix-hidden: hidden-fact-129">Right-of-use assets</span></span> under operating leasing arrangements as of March 31, 2026 and March 31, 2025 amounted to $912,855 and $126,372 respectively. Details of such leased assets are disclosed in Note 10.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation expense for the year ended March 31, 2026, 2025 and 2024 were included in cost of revenue and general and administrative expenses as below:-</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td>Cost of revenue:</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; width: 64%; text-align: left">Depreciation on equipment under finance lease</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">284,364</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">255,189</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">139,020</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-125"> </div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-126"> </div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-127"> </div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-align: left">Depreciation on rights of use assets under operating lease</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">305,111</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">156,432</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,239</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Depreciation on other assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">133,376</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">63,839</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">31,125</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">722,851</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">475,460</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">310,384</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td>At cost:</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Right-of-use assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,117,118</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">580,401</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,415,816</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,221,925</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Renovation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,031</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-124">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Computer equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125,737</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">157,754</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Furniture, fixtures and fittings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,693</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,199</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Motor vehicles</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,179</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,020,395</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,976,458</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt"> Less: accumulated depreciation</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,265,503</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,102,196</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Property and equipment, net</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,754,892</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">874,262</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1117118 580401 1415816 1221925 336031 125737 157754 25693 9199 7179 3020395 1976458 1265503 1102196 1754892 874262 489951 622075 912855 126372 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation expense for the year ended March 31, 2026, 2025 and 2024 were included in cost of revenue and general and administrative expenses as below:-</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td>Cost of revenue:</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; width: 64%; text-align: left">Depreciation on equipment under finance lease</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">284,364</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">255,189</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">139,020</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-125"> </div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-126"> </div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-127"> </div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-align: left">Depreciation on rights of use assets under operating lease</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">305,111</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">156,432</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,239</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Depreciation on other assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">133,376</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">63,839</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">31,125</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">722,851</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">475,460</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">310,384</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 284364 255189 139020 305111 156432 140239 133376 63839 31125 722851 475460 310384 <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>NOTE – 10 LEASES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Company as a lessee</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The Company has entered into <span style="-sec-ix-hidden: hidden-fact-133"><span style="-sec-ix-hidden: hidden-fact-134"><span style="-sec-ix-hidden: hidden-fact-135"><span style="-sec-ix-hidden: hidden-fact-136">finance lease</span></span></span></span> agreements to purchase the equipment used in its operations. The lease terms are 3 years. The </span>right-of-use of the equipment <span style="background-color: white">are included under property and equipment. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The Company has also entered into <span style="-sec-ix-hidden: hidden-fact-137"><span style="-sec-ix-hidden: hidden-fact-138"><span style="-sec-ix-hidden: hidden-fact-139"><span style="-sec-ix-hidden: hidden-fact-142">operating lease</span></span></span></span> agreements for office and warehouse. </span>The remaining lives of the leases were more than 2 years. The Company adopts 4.33% as weighted average incremental borrowing rate to determine the present value of the lease payments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below presents the lease-related assets and liabilities recorded on the consolidated balance sheet.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td>Assets</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 10pt">Finance lease, right-of-use assets, net</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">489,951</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">622,075</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Operating lease, right-of-use assets, net</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">912,855</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">126,372</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Total right-of-use asset</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,402,806</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">748,447</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Current:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Finance lease liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">193,092</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">308,125</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Operating lease liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">374,248</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">115,945</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">567,340</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">424,070</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Non-current:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Finance lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">89,420</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">216,430</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Operating lease liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">545,144</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-130">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">634,564</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">216,430</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Total lease liabilities</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,201,904</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">640,500</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td>Finance lease cost:</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Interest on lease liabilities (per ASC 842)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15,394</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">25,559</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">21,868</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease cost:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Operating lease expense (per ASC 842)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">330,381</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">159,889</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">147,741</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Total lease expense</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">345,776</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">185,448</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">169,609</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company excludes short-term leases (those with lease terms of less than one year at inception) from the measurement of <span style="-sec-ix-hidden: hidden-fact-140"><span style="-sec-ix-hidden: hidden-fact-141">lease liabilities or right-of-use assets</span></span>. There were no short-term leases for years ended March 31, 2026, March 31, 2025 and March 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration:underline">Components of Lease Expense</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognize lease expense on a straight-line basis over the term of the operating leases, as reported within “general and administrative” expense on the accompanying consolidated statement of operations.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Future Contractual Lease Payments</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white"><b><i>Finance lease </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">As of March 31, 2026 and March 31, 2025, the maturities of finance lease liabilities (excluding short-term leases) were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white"> </span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Less than 1 year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">199,722</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">322,296</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">More than 1 year</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">91,500</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">221,097</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total undiscounted lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">291,222</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">543,393</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: Interest</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(8,710</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(18,838</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">282,512</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">524,555</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Representing:-</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">193,092</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">308,125</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Non-current liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">89,420</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">216,430</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">282,512</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">524,555</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white"><b><i>Operating lease</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">As of March 31, 2026 and March 31, 2025, the maturities of operating lease liabilities (excluding short-term leases) were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Less than 1 year (current liabilities)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">374,248</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">115,945</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">From 1 to 2 years (non-current liabilities)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">545,144</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-131">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">919,392</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">115,945</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Company as a lessor</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Sales-type lease receivables</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The Company has entered into sales-type lease agreements with customers for sales of equipment. The lease terms are 3-5 years. Net investment in sales-type leases, which is the sum of the present value of the future contractual lease payments from customers. Lease receivables relating to sales-type leases are presented on the consolidated balance sheet as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Gross lease receivables</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">587,671</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">794,126</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Received cash</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(227,711</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(267,877</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Unearned interest income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(16,025</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(28,369</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">343,935</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">497,880</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Reported as:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current net investment in sales-type lease</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">154,947</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">203,381</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Non-current net investment in sales-type lease</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">188,988</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">294,499</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">343,935</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">497,880</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">As of March 31, 2026 and March 31, 2025, undiscounted future lease payments under sales-type lease receivables from customers for the next five years and thereafter were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white"> </span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Less than 1 year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">154,947</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">203,381</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">From 1 to 2 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115,283</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">145,450</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">From 2 to 3 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">67,410</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,868</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">From 3 to 4 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,295</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,887</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">From 4 to 5 years</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-132">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,294</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">343,935</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">497,880</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Lease income in operating lease</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The Company has entered into lease agreements with customers for rental of equipment. The leases are fixed payment and the lease terms are 3 years. The Company recognized </span>the lease payments as revenue in profit or loss over the lease term on a straight-line basis as below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 4pt">Lease income relating to operating lease</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">337,826</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">226,500</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">116,150</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The operating lease term is 3 years. As of March 31, 2026 and March 31, 2025, undiscounted cash flows of our operating lease receivables from customers for the next three years and thereafter were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Less than 1 year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">255,024</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">235,200</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">From 1 to 2 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130,652</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">143,050</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">From 2 to 3 years</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">35,847</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">34,200</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">421,523</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">412,450</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> P3Y P2Y 0.0433 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below presents the lease-related assets and liabilities recorded on the consolidated balance sheet.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td>Assets</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 10pt">Finance lease, right-of-use assets, net</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">489,951</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">622,075</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Operating lease, right-of-use assets, net</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">912,855</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">126,372</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Total right-of-use asset</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,402,806</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">748,447</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Current:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Finance lease liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">193,092</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">308,125</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Operating lease liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">374,248</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">115,945</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">567,340</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">424,070</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Non-current:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Finance lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">89,420</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">216,430</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Operating lease liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">545,144</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-130">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">634,564</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">216,430</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Total lease liabilities</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,201,904</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">640,500</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td>Finance lease cost:</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Interest on lease liabilities (per ASC 842)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15,394</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">25,559</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">21,868</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease cost:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Operating lease expense (per ASC 842)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">330,381</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">159,889</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">147,741</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Total lease expense</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">345,776</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">185,448</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">169,609</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>The Company recognized the lease payments as revenue in profit or loss over the lease term on a straight-line basis as below:<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 4pt">Lease income relating to operating lease</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">337,826</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">226,500</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">116,150</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> </table> 489951 622075 912855 126372 1402806 748447 193092 308125 374248 115945 567340 424070 89420 216430 545144 634564 216430 1201904 640500 15394 25559 21868 330381 159889 147741 345776 185448 169609 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">As of March 31, 2026 and March 31, 2025, the maturities of finance lease liabilities (excluding short-term leases) were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white"> </span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Less than 1 year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">199,722</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">322,296</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">More than 1 year</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">91,500</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">221,097</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total undiscounted lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">291,222</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">543,393</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: Interest</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(8,710</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(18,838</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">282,512</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">524,555</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Representing:-</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">193,092</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">308,125</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Non-current liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">89,420</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">216,430</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">282,512</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">524,555</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 199722 322296 91500 221097 291222 543393 8710 18838 282512 524555 193092 308125 89420 216430 282512 524555 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">As of March 31, 2026 and March 31, 2025, the maturities of operating lease liabilities (excluding short-term leases) were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Less than 1 year (current liabilities)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">374,248</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">115,945</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">From 1 to 2 years (non-current liabilities)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">545,144</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-131">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">919,392</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">115,945</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 374248 115945 545144 919392 115945 P3Y P5Y Lease receivables relating to sales-type leases are presented on the consolidated balance sheet as follows:<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Gross lease receivables</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">587,671</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">794,126</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Received cash</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(227,711</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(267,877</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Unearned interest income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(16,025</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(28,369</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">343,935</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">497,880</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Reported as:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current net investment in sales-type lease</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">154,947</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">203,381</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Non-current net investment in sales-type lease</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">188,988</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">294,499</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">343,935</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">497,880</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 587671 794126 -227711 -267877 -16025 -28369 343935 497880 154947 203381 188988 294499 343935 497880 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">As of March 31, 2026 and March 31, 2025, undiscounted future lease payments under sales-type lease receivables from customers for the next five years and thereafter were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white"> </span></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Less than 1 year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">154,947</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">203,381</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">From 1 to 2 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115,283</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">145,450</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">From 2 to 3 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">67,410</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,868</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">From 3 to 4 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,295</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,887</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">From 4 to 5 years</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-132">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,294</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">343,935</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">497,880</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 154947 203381 115283 145450 67410 91868 6295 50887 6294 343935 497880 P3Y 337826 226500 116150 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The operating lease term is 3 years. As of March 31, 2026 and March 31, 2025, undiscounted cash flows of our operating lease receivables from customers for the next three years and thereafter were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Less than 1 year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">255,024</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">235,200</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">From 1 to 2 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130,652</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">143,050</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">From 2 to 3 years</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">35,847</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">34,200</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">421,523</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">412,450</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> P3Y 255024 235200 130652 143050 35847 34200 421523 412450 <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>NOTE – 11 INTANGIBLE ASSETS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td>Intangible assets:</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 10pt">Software license</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">538,031</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">528,031</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Software under development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">89,923</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">32,311</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">627,954</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">560,342</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(268,104</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(192,403</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Intangible assets, net</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">359,850</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">367,939</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amortization expense, included in the cost of revenue, for year ended March 31, 2026, 2025 and 2024 was $75,701, $74,147 and $60,003 respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended March 31, 2026, the Company wrote off software development costs of US$75,315 relating to project that was no longer expected to be completed for their intended use. The write-off was recorded in general and administrative expenses in the consolidated statements of operations. There was no intangible asset written off for year ended March 31, 2025 and 2024.</p><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March 31, 2026, the estimated future amortization of finite-lived intangible assets for the next five years and thereafter was as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Year ended March 31, 2027</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">78,647</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Year ended March 31, 2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">78,647</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year ended March 31, 2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">78,647</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Year ended March 31, 2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,394</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,592</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">269,927</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/>2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td>Intangible assets:</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 10pt">Software license</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">538,031</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">528,031</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Software under development</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">89,923</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">32,311</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">627,954</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">560,342</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(268,104</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(192,403</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Intangible assets, net</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">359,850</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">367,939</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 538031 528031 89923 32311 627954 560342 268104 192403 359850 367939 75701 74147 60003 75315 <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March 31, 2026, the estimated future amortization of finite-lived intangible assets for the next five years and thereafter was as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Year ended March 31, 2027</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">78,647</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Year ended March 31, 2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">78,647</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Year ended March 31, 2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">78,647</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Year ended March 31, 2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,394</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,592</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">269,927</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 78647 78647 78647 20394 13592 269927 <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>NOTE – 12 BANK BORROWING</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bank borrowing consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; border-bottom: Black 1.5pt solid">Term of <br/> repayments</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Annual interest rate</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31,<br/> 2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31,<br/> 2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Term loan</td><td style="width: 1%"> </td> <td style="width: 11%; text-align: center">5 years</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4.25</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">38,103</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">83,552</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Term loan</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">5 years</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">7.75</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">338,601</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-143">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: center; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">376,704</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">83,552</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Representing :-</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Within 12 months</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">108,059</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">46,983</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Over 1 year</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">268,645</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">36,569</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: center; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">376,704</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">83,552</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2026 and March 31, 2025, bank borrowing was obtained from a financial institution in Singapore, which bear annual interest at fixed rate ranging from 4.25% to 7.75% and are repayable in 5 years.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="background-color: white">The Company’s bank borrowing is guaranteed under personal guarantees from the directors, Eng Chye Koh and </span>Joanna Hui Cheng Soh (resigned as a director on January 20, 2026)<span style="background-color: white">, and a third party. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bank borrowing consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; border-bottom: Black 1.5pt solid">Term of <br/> repayments</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Annual interest rate</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31,<br/> 2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">March 31,<br/> 2025</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: right"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Term loan</td><td style="width: 1%"> </td> <td style="width: 11%; text-align: center">5 years</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4.25</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">38,103</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">83,552</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Term loan</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">5 years</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">7.75</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">338,601</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-143">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: center; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">376,704</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">83,552</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Representing :-</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Within 12 months</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">108,059</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">46,983</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Over 1 year</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">268,645</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">36,569</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="text-align: center; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">376,704</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">83,552</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> P5Y 0.0425 38103 83552 P5Y 0.0775 338601 376704 83552 108059 46983 268645 36569 376704 83552 0.0425 0.0425 0.0775 0.0775 P5Y P5Y <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>NOTE – 13 SHAREHOLDERS’ EQUITY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Ordinary Shares</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">iO3 Cayman was established under the laws of Cayman Islands on August 21, 2023. After the reorganization exercise (see Note 1), iO3 Cayman has an authorized share of 50,000,000 Ordinary Shares of par value US$0.01 each and 15,000,000 Ordinary Shares outstanding.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 22, 2024, the Company conducted forward share consolidation and share split as follow:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) Share consolidated at the ratio of 1:5, i.e. every 5 ordinary shares were consolidated to 1 ordinary share; and</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) Share split at the ratio of 8:1, i.e. every 1 ordinary share was subdivided into 8 ordinary shares.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequent to the above exercise, the Company has an authorised share of 80,000,000 ordinary shares of par value US$0.00625 each and 24,000,000 ordinary shares outstanding, before giving effect to the one-for-ten reverse share split on November, 10,2025 (see below for further information). All share and per share data prior to August 22, 2024 have been retroactively adjusted to reflect the forward share consolidation and share split throughout these consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 10, 2025, in connection with the Company’s initial public offering, the Company issued an aggregate of 1,650,000 ordinary shares, par value $0.00625 per share, at a public offering price of $4.00 per share, before giving effect to the one-for-ten reverse share split.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 10, 2025, at the Extraordinary General Meeting of Members of iOThree Limited (the “Company”), the Company’s shareholders approved:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) the Second Amended and Restated Memorandum and Articles of Association, increased the authorized share capital of the Company from US$500,000.00 divided into 80,000,000 ordinary shares of a par value of US$0.00625 each to US$5,000,000.00 divided into 800,000,000 shares of a par value of US$0.00625 each, comprising (i) 700,000,000 ordinary shares of a par value of US$0.00625 each, (ii) 90,000,000 class A shares of a par value of US$0.00625 each (the “Class A Shares”), and (iii) 10,000,000 preferred shares of a par value of US$0.00625 each ; and</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) the redesignation of certain issued ordinary shares, par value $0.00625 per share, as issued class A shares, par value $0.00625 per share (the “Class A Shares”), on a one-for-one basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) a share consolidation of the Company’s issued and unissued shares, par value US$0.00625 each, at a ratio of not less than one (1)-for-two (2) and not more than one (1)-for-twenty (20), with the exact ratio determined by the Company’s Board of Directors.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 10, 2025, the Company conducted a one-for-ten reverse share split (Reverse Split) of the Company’s issued and unissued ordinary shares, Class A shares, and preferred shares, at a new par value of $0.0625 per share.  No fractional shares will be issued as a result of the reverse share split, and instead, all such fractional shares resulting from the reverse share split will be rounded up to the nearest whole share. Prior to the reverse share split, the Company has 7,333,257 Ordinary Shares and 18,316,743 class A shares issued and outstanding, and <span style="-sec-ix-hidden: hidden-fact-146">no</span> preferred shares outstanding. Following the reverse share split, the Company has 733,347 Ordinary Shares and 1,831,675 class A shares issued and outstanding, exclusive of shares issuable under outstanding warrants, and the Company has 70,000,000 authorized Ordinary Shares, 9,000,000 authorized class A shares and 1,000,000 authorized preferred shares. All shares and the per-share data included in these consolidated financial statements have been retroactively adjusted as though the Reverse Share Split has been effected prior to all periods presented.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 10, 2026, the Company entered into Securities Purchase Agreements (the “Securities Purchase Agreements”) with certain investors. Pursuant to the Securities Purchase Agreements, the Company agreed to issue an aggregate of 2,298,852 ordinary shares, par value US$0.0625 per share (the “Shares”), at a purchase price of US$0.87 per share to the Investors, for a total purchase price of approximately US$2.0 million. As of March 31, 2026, the Company had issued 1,563,219 Shares. As of March 31, 2026, the Company has 2,296,566 Ordinary Shares and 1,831,675 Class A Shares issued and outstanding, and no preferred shares outstanding.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The subscription proceeds for the remaining 735,633 Ordinary Shares were received after balance sheet date, and the corresponding Ordinary Shares were issued on April 2, 2026. As of the date of this report, the Company has 3,032,199 Ordinary Shares and 1,831,675 Class A Shares issued and outstanding, and <span style="-sec-ix-hidden: hidden-fact-147">no</span> preferred shares outstanding.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Board of Directors has authorized three classes of stock, Ordinary Share, Class A Share and preferred share. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The holders of iO3 Cayman’s Ordinary Share are entitled to the following rights:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Voting Rights</b>: The rights of the holders of Ordinary Shares and Class A Shares are identical, except with respect to voting. Each Ordinary Share is entitled to one vote per share, and each Class A Share is entitled to 50 votes per share. Shares of Class A may be converted at any time at the option of the stockholder and automatically convert back to Ordinary Share upon sale or transfer to a person who is not a Permitted Transferee.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Dividend Right</b>: Subject to limitations under Cayman law and preferences that may apply to any shares of preferred share that iO3 Cayman may decide to issue in the future, holders of iO3 Cayman’s Ordinary Share are entitled to receive ratably such dividends or other distributions, if any, as may be declared by the Board of iO3 Cayman out of funds legally available therefor.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Liquidation Right</b>: In the event of the liquidation, dissolution or winding up of our business, the holders of iO3 Cayman’s Ordinary Share are entitled to share ratably in the assets available for distribution after the payment of all of the debts and other liabilities of iO3 Cayman, subject to the prior rights of the holders of iO3 Cayman’s preferred share.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Other Matters</b>: The holders of iO3 Cayman’s Ordinary Share have no subscription, redemption or conversion privileges. iO3 Cayman’s Ordinary Share does not entitle its holders to preemptive rights. All of the outstanding shares of iO3 Cayman’s Ordinary Share are fully paid and non-assessable. The rights, preferences and privileges of the holders of iO3 Cayman’s Ordinary Share are subject to the rights of the holders of shares of any series of preferred share which iO3 Cayman may issue in the future. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Representative’s Warrants</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon closing of the Company’s initial public offering, the Company issued to the underwriter, or its designees, warrants to purchase an aggregate of 147,000 Ordinary Shares. The Representative’s Warrants were exercisable, in whole or in part, from April 11, 2025 to April 11, 2030 at an exercise price of US$5.00 per share, representing 125% of the initial public offering price.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluated the Representative’s Warrants in accordance with ASC 480, Distinguishing Liabilities from Equity, and ASC 815-40, Contracts in Entity’s Own Equity, and determined that the Representative’s Warrants qualified for classification within shareholders’ equity. Accordingly, the Representative’s Warrants were not subsequently remeasured after issuance.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Following the Company’s reverse share split, the number of Ordinary Shares issuable upon exercise of the Representative’s Warrants was adjusted to 14,700 shares. On October 15, 2025, the Company entered into a supplemental agreement with the underwriter for the surrender and cancellation of all of the Representative’s Warrants for consideration of US$80,000. The payment was accounted for as a reduction of additional paid-in capital. No Representative’s Warrants were exercised, and no Representative’s Warrants were outstanding as of March 31, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Dividend Distribution</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Declared and paid during the financial year ended</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">            </td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">            </td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">            </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 4pt">Dividends on ordinary shares: <br/> Interim exempt (one-tier) dividends of <span style="-sec-ix-hidden: hidden-fact-144">Nil</span> (March 31, 2025: <span style="-sec-ix-hidden: hidden-fact-145">Nil</span> and March 31, 2024: $1.98 cents) per share</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(292,500</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> 50000000 0.01 15000000 (a) Share consolidated at the ratio of 1:5, i.e. every 5 ordinary shares were consolidated to 1 ordinary share; and(b) Share split at the ratio of 8:1, i.e. every 1 ordinary share was subdivided into 8 ordinary shares. 80000000 0.00625 24000000 1650000 0.00625 4 500000 80000000 0.00625 5000000 800000000 0.00625 700000000 0.00625 90000000 0.00625 10000000 0.00625 0.00625 0.00625 0.00625 0.0625 7333257 18316743 733347 1831675 70000000 9000000 1000000 2298852 0.0625 0.87 2000000 1563219 2296566 1831675 735633 3032199 1831675 1831675 one 50 147000 5 1.25 14700 80000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Dividend Distribution</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Declared and paid during the financial year ended</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">            </td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">            </td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">            </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 4pt">Dividends on ordinary shares: <br/> Interim exempt (one-tier) dividends of <span style="-sec-ix-hidden: hidden-fact-144">Nil</span> (March 31, 2025: <span style="-sec-ix-hidden: hidden-fact-145">Nil</span> and March 31, 2024: $1.98 cents) per share</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(292,500</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> 1.98 292500 <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>NOTE – 14 INCOME TAXES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company adopted ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, for the year ended March 31, 2026. The adoption did not have a material impact on the Company’s consolidated financial position, results of operations or cash flows, but resulted in enhanced income tax disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The effective tax rate in the years presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rate. The Company’s subsidiaries are subject to taxes in the jurisdiction in which they operate, as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>BVI</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">iOThree Maritime Technologies Limited is considered to be an exempted British Virgin Islands Company and is presently not subject to income taxes or income tax filing requirements in the British Virgin Islands or the United States.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Singapore</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">iO3 Pte. Ltd’s operations are primarily conducted in Singapore and are therefore subject to Singaporean tax law at the corporate tax rate at 17% on the Company’s assessable income arising in Singapore during its tax year. Singapore is the largest region where the Group’s business was located for the years ended March 31, 2026, 2025 and 2024. Accordingly, the Singapore tax rate has been used for the reconciliation to the effective income tax rate in the table below.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Malaysia</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">iO3 Sdn. Bhd’s operations are primarily conducted in Malaysia and are therefore subject to Malaysian tax law at the corporate tax rate at 24% on the Company’s assessable income arising in Malaysia during its tax year.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The provision for income taxes consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current income tax expense</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-148">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-149">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-150">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left; padding-bottom: 1.5pt">(Over)/under provision for income taxes in prior financial years for the Singapore subsidiary</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">(21,432</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">16,830</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">(43,790</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(21,432</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">16,830</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(43,790</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The reconciliation of income tax rate to the effective income tax rate based on income before income taxes for the year ended March 31, 2026, 2025 and 2024 are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">2026</td><td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">2024</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td> </td> <td colspan="6" style="text-align: center"> </td><td> </td><td> </td> <td colspan="6" style="text-align: center"> </td><td> </td><td> </td> <td colspan="6" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; width: 28%; text-align: left">Loss before income taxes</td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">(1,182,673</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left">)</td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 9%; text-align: right"> </td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">(213,685</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left">)</td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 9%; text-align: right"> </td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">(48,236</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left">)</td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 9%; text-align: right"> </td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Income tax expense at statutory rate @17%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(201,054</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36,326</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,200</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Tax incentives</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-151">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-152; font-size: 10pt">-%</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-153">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-154; font-size: 10pt">-%</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(28,995</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60.1</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Tax effect of deductible contractual lease payment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(112,892</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9.5</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,863</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12.6</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(25,738</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(53.4</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Tax effect of non-deductible items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">149,707</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12.7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">102,609</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">72,042</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">149.4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Singapore statutory stepped income exemption</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,919</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.6</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-155">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-156; font-size: 10pt">-%</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(13,072</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(27.1</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Utilization of capital allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(94,438</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8.0</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(39,478</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18.5</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(37,962</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(78.7</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">(Over)/Under provision of income taxes in prior financial years, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,432</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1.8</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,830</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(43,790</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(90.8</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Losses not subject to income tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">271,251</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">58</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-157; font-size: 10pt">-%</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-158">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-159; font-size: 10pt">-%</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Foreign tax rate differential</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,833</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.2</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-160">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-161; font-size: 10pt">-%</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-162">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-163; font-size: 10pt">-%</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,822</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(0.3</td><td style="padding-bottom: 1.5pt; text-align: left">)%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-164">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-165; font-size: 10pt">-%</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">41,925</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">86.9</td><td style="padding-bottom: 1.5pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(21,432</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(1.8</td><td style="padding-bottom: 4pt; text-align: left">)%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">16,830</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">7.9</td><td style="padding-bottom: 4pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(43,790</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(90.8</td><td style="padding-bottom: 4pt; text-align: left">)%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Uncertain tax positions</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluates the uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of March 31, 2026 and March 31, 2025, the Company did not have any significant unrecognized uncertain tax positions. The Company did not incur any interest and penalties related to potential underpaid income tax expenses for the year ended March 31, 2026, 2025 and 2024 and also did not anticipate any significant increases or decreases in unrecognized tax benefits in the next 12 months from March 31, 2026.</p> 0.17 0.24 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The provision for income taxes consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid">Year ended March 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current income tax expense</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-148">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-149">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-150">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left; padding-bottom: 1.5pt">(Over)/under provision for income taxes in prior financial years for the Singapore subsidiary</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">(21,432</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">16,830</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">(43,790</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(21,432</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">16,830</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(43,790</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> -21432 16830 -43790 -21432 16830 -43790 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The reconciliation of income tax rate to the effective income tax rate based on income before income taxes for the year ended March 31, 2026, 2025 and 2024 are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">2026</td><td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">2024</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td> </td> <td colspan="6" style="text-align: center"> </td><td> </td><td> </td> <td colspan="6" style="text-align: center"> </td><td> </td><td> </td> <td colspan="6" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; width: 28%; text-align: left">Loss before income taxes</td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">(1,182,673</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left">)</td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 9%; text-align: right"> </td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">(213,685</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left">)</td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 9%; text-align: right"> </td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">(48,236</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left">)</td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 9%; text-align: right"> </td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Income tax expense at statutory rate @17%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(201,054</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36,326</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,200</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Tax incentives</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-151">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-152; font-size: 10pt">-%</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-153">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-154; font-size: 10pt">-%</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(28,995</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60.1</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Tax effect of deductible contractual lease payment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(112,892</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9.5</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,863</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12.6</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(25,738</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(53.4</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Tax effect of non-deductible items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">149,707</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12.7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">102,609</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">72,042</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">149.4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Singapore statutory stepped income exemption</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,919</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.6</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-155">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-156; font-size: 10pt">-%</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(13,072</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(27.1</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Utilization of capital allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(94,438</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8.0</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(39,478</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18.5</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(37,962</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(78.7</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">(Over)/Under provision of income taxes in prior financial years, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,432</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1.8</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,830</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(43,790</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(90.8</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Losses not subject to income tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">271,251</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">58</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-157; font-size: 10pt">-%</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-158">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-159; font-size: 10pt">-%</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Foreign tax rate differential</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,833</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.2</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-160">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-161; font-size: 10pt">-%</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-162">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-163; font-size: 10pt">-%</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in">Others</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,822</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(0.3</td><td style="padding-bottom: 1.5pt; text-align: left">)%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-164">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-165; font-size: 10pt">-%</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">41,925</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">86.9</td><td style="padding-bottom: 1.5pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(21,432</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(1.8</td><td style="padding-bottom: 4pt; text-align: left">)%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">16,830</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">7.9</td><td style="padding-bottom: 4pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(43,790</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(90.8</td><td style="padding-bottom: 4pt; text-align: left">)%</td></tr> </table> -1182673 -213685 -48236 -201054 0.17 -36326 0.17 -8200 0.17 28995 -0.601 112892 -0.095 26863 -0.126 25738 -0.534 149707 0.127 102609 0.48 72042 1.494 6919 0.006 13072 0.271 94438 -0.08 39478 -0.185 37962 -0.787 -21432 -0.018 16830 0.079 -43790 -0.908 271251 -0.229 58 -1833 -0.002 -3822 -0.003 41925 0.869 -21432 -0.018 16830 0.079 -43790 -0.908 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 10pt"><b>NOTE <span style="font-family: Times New Roman, Times, Serif">– </span>15 RELATED PARTY TRANSACTIONS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As disclosed in Note 12, certain bank borrowings of the Company were guaranteed by personal guarantees provided by certain directors of the Company. No guarantee fee was paid or payable by the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2025, amounts due to directors were US$329,427, which were included in other payables and accrued liabilities in the consolidated balance sheet. The amounts due to directors were unsecured, non-interest bearing and repayable on demand. During the year ended March 31, 2026, the Company fully repaid the amounts due to directors. As of March 31, 2026, there were <span style="-sec-ix-hidden: hidden-fact-166">no</span> amounts due to directors.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Apart from above transactions, the Company has no other significant or material related party transactions during the years presented.</p> 329427 <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>NOTE – 16 CONCENTRATIONS OF RISK</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is exposed to the following concentrations of risk:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">(a)</span></td><td style="text-align: justify"><span style="font-size: 10pt">Major customers</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended March 31, 2026, 2025 and 2024, the customers who accounted for 10% or more of the Company’s revenue are as below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Percentage of revenue</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Accounts receivable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Percentage of revenue</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Accounts receivable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Percentage of revenue</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Accounts receivable</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 28%; text-align: left; padding-bottom: 4pt">Customer A (Digitalization and other solution segment)</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 9%; padding-bottom: 4pt; text-align: right">8.0</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">%</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left">$</td><td style="width: 9%; padding-bottom: 4pt; text-align: right">10,704</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 9%; padding-bottom: 4pt; text-align: right">12.6</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">%</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left">$</td><td style="width: 9%; padding-bottom: 4pt; text-align: right">2,212</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">10.2</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">%</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-167">-</div></td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 4pt">Customer B (Connectivity segment)</td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right">19.9</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td style="padding-bottom: 4pt; text-align: right">335,767</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">10.6</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">142,058</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 4pt">Customer C (Digitalization and other solution segment)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">14.4</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">106,528</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-size: 10pt">(b)</span></td> <td><span style="font-size: 10pt">Major vendors</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended March 31, 2026, 2025 and 2024, the vendor who accounted for 10% or more of the Company’s purchases and its outstanding payable balances as at year end date, is presented as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Percentage of purchases</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Accounts payable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Percentage of purchases</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Accounts payable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Percentage of purchases</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Accounts payable</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left; padding-bottom: 4pt">Vendor A</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 9%; padding-bottom: 4pt; text-align: right">7.9</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">%</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left">$</td><td style="width: 9%; padding-bottom: 4pt; text-align: right">124,882</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 9%; padding-bottom: 4pt; text-align: right">14.1</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">%</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left">$</td><td style="width: 9%; padding-bottom: 4pt; text-align: right">214,605</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">18.50</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">%</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">352,444</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Vendor B</td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right">11.4</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td style="padding-bottom: 4pt; text-align: right">158,956</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">13.3</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">111,668</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vendor C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">14,329</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Vendor D</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">10.4</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">73,223</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">(c)</span></td><td style="text-align: justify"><span style="font-size: 10pt">Credit risk</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to credit risk consist of cash equivalents, restricted cash, accounts and financing receivable. Cash equivalents are maintained with high credit quality institutions, the composition and maturities of which are regularly monitored by management. The Singapore Deposit Protection Board pays compensation up to a limit of S$100,000 (approximately $77,515) if the bank with which an individual/a company hold its eligible deposit fails. As of March 31, 2026, cash balances of $2.1 million, held at financial institutions in Singapore, were subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is exposed to credit risk primarily from accounts receivable arising from contracts with customers. The Company manages credit risk by performing credit evaluations of customers, monitoring outstanding balances and aging of receivables, and assessing customer-specific collection risks on an ongoing basis. The Company generally does not require collateral from its customers.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company records an allowance for credit losses in accordance with ASC 326, Financial Instruments—Credit Losses. The allowance for credit losses represents management’s estimate of expected credit losses over the contractual life of the receivables. In estimating expected credit losses, the Company considers historical collection experience, aging of receivables, past due status, customer-specific credit risk, current economic conditions, and reasonable and supportable forecasts that may affect collectability.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable are evaluated on a collective basis when they share similar risk characteristics. Receivables that do not share similar risk characteristics, or for which specific collection concerns have been identified, are evaluated on an individual basis. The Company considers receivables past due based on contractual payment terms. Receivables that are more than 60 days past due, or for which other information indicates that collection may be doubtful, are subject to additional review.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2026, 23.4% (2025: 23.5%) of accounts receivable and sale-type lease investments were owed by a customer (2025: two customers). The ageing for aforementioned receivables were less than 90 days except for $80,416 (2025: $14,574) which was more than 60 days overdue.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-size: 10pt">(d)</span></td> <td><span style="font-size: 10pt">Interest rate risk</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As the Company has no significant interest-bearing assets, the Company’s income and operating cash flows are substantially independent of changes in market interest rates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s interest-rate risk arises from bank borrowings. The Company manages interest rate risk by managing the mixture of fixed and variable rate debt, the issuance and maturity dates of debt, limiting the amount of variable rate debt, and continually monitoring the effects of market changes in interest rates. As of March 31, 2026 and March 31, 2025, the borrowings were at fixed interest rates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-size: 10pt">(e)</span></td> <td><span style="font-size: 10pt">Economic and political risk</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s major operations are conducted in Asia. Accordingly, the political, economic, and legal environments in Asia, as well as the general state of Asia’s economy may influence the Company’s business, financial condition, and results of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">  </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-size: 10pt">(f)</span></td> <td><span style="font-size: 10pt">Exchange rate risk</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foreign exchange risk of the Group arises from subsidiaries operating countries, mainly Singapore and Malaysia. Translation risks of overseas net investments are not hedged.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company cannot guarantee that the current exchange rate will remain steady; therefore there is a possibility that the Company could post the same amount of profit for two comparable periods and because of the fluctuating exchange rate actually post higher or lower profit depending on the exchange rates of Singapore dollar and Malaysia Ringgit converted to US$ on that date. The exchange rates could fluctuate depending on changes in political and economic environments without notice.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-size: 10pt">(g)</span></td> <td><span style="font-size: 10pt">Liquidity risk</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company’s policy is to ensure that it has sufficient cash to meet its liabilities when they become due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation. A key risk in managing liquidity is the degree of uncertainty in the cash flow projections. If future cash flows are fairly uncertain, the liquidity risk increases. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended March 31, 2026, 2025 and 2024, the customers who accounted for 10% or more of the Company’s revenue are as below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Percentage of revenue</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Accounts receivable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Percentage of revenue</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Accounts receivable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Percentage of revenue</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Accounts receivable</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 28%; text-align: left; padding-bottom: 4pt">Customer A (Digitalization and other solution segment)</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 9%; padding-bottom: 4pt; text-align: right">8.0</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">%</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left">$</td><td style="width: 9%; padding-bottom: 4pt; text-align: right">10,704</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 9%; padding-bottom: 4pt; text-align: right">12.6</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">%</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left">$</td><td style="width: 9%; padding-bottom: 4pt; text-align: right">2,212</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">10.2</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">%</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-167">-</div></td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 4pt">Customer B (Connectivity segment)</td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right">19.9</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td style="padding-bottom: 4pt; text-align: right">335,767</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">10.6</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">142,058</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 4pt">Customer C (Digitalization and other solution segment)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">14.4</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">106,528</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended March 31, 2026, 2025 and 2024, the vendor who accounted for 10% or more of the Company’s purchases and its outstanding payable balances as at year end date, is presented as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">2026</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Percentage of purchases</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Accounts payable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Percentage of purchases</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Accounts payable</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Percentage of purchases</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Accounts payable</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left; padding-bottom: 4pt">Vendor A</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 9%; padding-bottom: 4pt; text-align: right">7.9</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">%</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left">$</td><td style="width: 9%; padding-bottom: 4pt; text-align: right">124,882</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 9%; padding-bottom: 4pt; text-align: right">14.1</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">%</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; padding-bottom: 4pt; text-align: left">$</td><td style="width: 9%; padding-bottom: 4pt; text-align: right">214,605</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left"> </td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">18.50</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">%</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">352,444</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Vendor B</td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right">11.4</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td style="padding-bottom: 4pt; text-align: right">158,956</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">13.3</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">111,668</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vendor C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">14,329</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Vendor D</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">10.4</td><td style="padding-bottom: 2.5pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">73,223</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 0.08 10704 0.126 2212 0.102 0.199 335767 0.106 142058 0.144 106528 0.079 124882 0.141 214605 0.185 352444 0.114 158956 0.133 111668 0.109 14329 0.104 73223 100000 77515 2100000 0.234 0.235 0.235 80416 14574 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-size: 10pt"><b>NOTE – 17 COMMITMENTS AND CONTINGENCIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white"><b>Litigation </b>— </span>From time to time, the Company may be involved in various legal proceedings and claims in the ordinary course of business. The Company currently is not aware of any legal proceedings or claims that it believes will have, individually or in the aggregate, a material adverse effect on its business, financial condition, operating results, or cash flows.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2026 and March 31, 2025, the Company has <span style="-sec-ix-hidden: hidden-fact-168"><span style="-sec-ix-hidden: hidden-fact-169">no</span></span> material commitments or contingencies.</p> <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>NOTE – 18 OFF-BALANCE SHEET TRANSACTIONS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has not entered into any financial guarantees or other commitments to guarantee the payment obligations of any third parties. In addition, except for the Representative’s Warrants disclosed in Note 13, which were surrendered and cancelled during the year ended March 31, 2026, the Company has not entered into any derivative contracts that are indexed to our own shares and classified as shareholders’ equity, or that are not reflected in our consolidated financial statements. Furthermore, the Company does not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity or market risk support to such entity. Moreover, the Company does not have any variable interest in an unconsolidated entity that provides financing, liquidity, market risk or credit support to us or engages in leasing, hedging or research and development services with us.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-size: 10pt"><b>NOTE – 19 SUBSEQUENT EVENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with ASC Topic 855, “<i>Subsequent Events</i>”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before condensed consolidated financial statements are issued, the Company has evaluated the impact of all events or transactions that occurred after March 31, 2026, up through the date the Company issued the audited consolidated financial statements. Apart from the transactions disclosed elsewhere in these accompanying consolidated financial statements, the Company did not have any material subsequent events.</p> U.S. GAAP http://fasb.org/us-gaap/2026#InvestmentIncomeInterest http://fasb.org/us-gaap/2026#InvestmentIncomeInterest http://fasb.org/us-gaap/2026#AssetsNoncurrent http://fasb.org/us-gaap/2026#AssetsNoncurrent http://www.io3.sg.com/20260331#LeaseLiabilitiesCurrent http://www.io3.sg.com/20260331#LeaseLiabilitiesCurrent http://www.io3.sg.com/20260331#LeaseLiabilitiesNonCurrent http://www.io3.sg.com/20260331#LeaseLiabilitiesNonCurrent http://www.io3.sg.com/20260331#LeaseLiabilitiesCurrent http://www.io3.sg.com/20260331#LeaseLiabilitiesCurrent http://www.io3.sg.com/20260331#LeaseLiabilitiesNonCurrent http://fasb.org/us-gaap/2026#AssetsCurrent http://fasb.org/us-gaap/2026#AssetsCurrent http://www.io3.sg.com/20260331#LeaseLiabilitiesNonCurrent 0001997637 false FY E9 Giving retroactive effect to the 24,000,000 shares issued and outstanding following the share consolidation and share split on August 22, 2024, for all periods presented. Following the one-for-ten reverse share split effected on November 10, 2025, the 24,000,000 ordinary shares outstanding as of August 22, 2024 were retrospectively adjusted and presented as 2,400,000 ordinary shares. The net loss per share for year ended March 31, 2024 is immaterial. Giving retroactive effect to the 24,000,000 shares issued and outstanding following the share consolidation and share split on August 22, 2024, for all periods presented. Following the one-for-ten reverse share split effected on November 10, 2025, the 24,000,000 ordinary shares outstanding as of August 22, 2024 were retrospectively adjusted and presented as 2,400,000 ordinary shares.