RELATED PARTY TRANSACTIONS |
12 Months Ended | |||||||||||||||||||||||||||
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Mar. 31, 2026 | ||||||||||||||||||||||||||||
| Related Party Transactions [Abstract] | ||||||||||||||||||||||||||||
| RELATED PARTY TRANSACTIONS | NOTE 10 – RELATED PARTY TRANSACTIONS
Due to related parties
Due to related parties comprised of the following:
Amounts due to related parties were unsecured, non-interest-bearing, and due on demand.
Promissory Notes Payable and Loans Payable – Related Parties
The Company had long-term notes and loans payable-related parties (Mr. Wan, the Company’s President) of $ and $1,674,801 as of March 31, 2026 and 2025, respectively. These arrangements were unsecured and non-interest-bearing, with $385,850 repayable on December 9, 2027, and the remaining $1,288,951 repayable on December 31, 2029.
Advances from Mr. Wan
During the years ended March 31, 2026, the Company received advances from Mr. Wan, the Company’s President, for working capital purposes. The outstanding amounts due to Mr. Wan were $980,000 and $520,000 as of March 31, 2026 and 2025, respectively. The advances were unsecured, non-interest-bearing, and due on demand.
On December 31, 2024, the Company formalized a promissory note agreement with Mr. Wan in the principal amount of $428,790, with a stated maturity date of December 31, 2029. As described in Note 9, this promissory note was subsequently assigned and converted into equity.
Debt Assignment to Mr. Wan
On March 31, 2025, the Company entered into a Tripartite Debt Assignment Agreement (“TDAA”) with Mr. Barry Wan (a related party) and the unrelated third-party original lender, pursuant to which the CNY 2,096,172 ($288,860) note, the CNY 2,800,000 ($385,850) loan, and the CNY 3,931,167 ($541,730) note; were legally assigned to Mr. Wan. Following the assignment, Mr. Wan became the holder of the obligations under the same terms and conditions. The outstanding long-term notes and loans payable-related party was $ and $1,674,801 as of March 31, 2026 and 2025, respectively.
Subsequently, on November 25, 2025, the Company cancelled the TDAA and entered into new assignment and amendment agreements with respect to the outstanding promissory notes (under “November Debt Assignment Agreements”), pursuant to which the notes were assigned to third-party assignees and amended to provide for the automatic conversion of the outstanding principal amounts into shares of the Company’s Class A common stock at a fixed conversion price. Immediately upon the effectiveness of the amendments, the outstanding promissory notes were automatically converted into equity. The CNY 2,800,000 (approximately $385,850) loan was not included in the November Debt Assignment Agreements.
Advances from Tairan Baohe Insurance Sales Co., Ltd. (“Tairan”)
During the year ended March 31, 2025, the Company borrowed funds from Tairan Baohe Insurance Sales Co., Ltd. (“Tairan”), an entity in which Mr. Wan’s spouse is a shareholder, for working capital purposes. The loan was unsecured, non-interest-bearing, and due on demand. On December 31, 2024, the Company formalized a promissory note agreement in the principal amount of CNY 2,800,000 (approximately $383,598), with a stated maturity date of December 31, 2029.
On March 24, 2025, the Company repaid the full outstanding balance to Tairan. As a result, there were no amounts due to Tairan since then.
Advances from New Lite Ventures LLC (“New Lite”)
During the year ended March 31, 2025, the Company borrowed funds from New Lite Ventures LLC (“New Lite”), an entity controlled by Mr. Wan, for working capital purposes. The advances were unsecured, non-interest-bearing, and due on demand.
On December 31, 2024, the Company formalized a promissory note agreement with New Lite in the principal amount of $29,571, with a stated maturity date of December 31, 2029. On November 25, 2025, this promissory note was assigned to third-party assignees and converted into the Company’s Class A common stock.
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