| ACCOUNTS RECEIVABLE |
Accounts receivable amounted to $2,831,064
and $2,495,301 as of March 31, 2026 and 2025, respectively. There was no allowance for credit losses recorded for both years
as all of the accounts receivable balance as of March 31, 2026 and 2025.
Approximately 99.5% or $2,817,504 of
the March 31, 2026 accounts receivable balance has been subsequently collected as of the date the Group’s consolidated financial
statements are released. The following table summarizes the Company’s outstanding accounts receivable and subsequent collection
by aging bucket:
| Accounts receivable by aging bucket | |
Balance as of
March 31,
2026 | | |
Subsequent
collection (1) | | |
% of
subsequent
collection(1) | |
| Overdue but within 1 year | |
$ | 486,928 | | |
$ | 485,652 | | |
| 99.7 | % |
| Not yet due | |
| 2,344,136 | | |
| 2,331,852 | | |
| 99.5 | % |
| Total gross accounts receivable | |
| 2,831,064 | | |
| 2,817,504 | | |
| 99.5 | % |
| Allowance for credit losses | |
| - | | |
| - | | |
| - | |
| Accounts receivable | |
$ | 2,831,064 | | |
$ | 2,817,504 | | |
| 99.5 | % |
| Accounts receivable by aging bucket | |
Balance as of
March 31,
2025 | | |
Subsequent
collection (2) | | |
% of
subsequent
collection(2) | |
| Overdue but within 1 year | |
$ | 541,427 | | |
$ | 541,425 | | |
| 100.0 | % |
| Not yet due | |
| 1,953,874 | | |
| 1,953,876 | | |
| 100.0 | % |
| Total gross accounts receivable | |
| 2,495,301 | | |
| 2,495,301 | | |
| 100.0 | % |
| Allowance for credit losses | |
| - | | |
| - | | |
| - | |
| Accounts receivable | |
$ | 2,495,301 | | |
$ | 2,495,301 | | |
| 100.0 | % |
| (1) | The amount of subsequent collection is as of July 15, 2026. | | | | | (2) | As of May 22, 2026, 100.0% of the balance had been collected. |
|