| Transactions with Related Parties |
The Group conducts material transactions with WGI through WSI and/or WTI, which entities are services providers
for WGI. These transactions are as follows:
| |
|
As of March 31, |
|
| |
|
2026
|
|
|
2025
|
|
|
Receivables – clients – unsettled trade
|
|
$
|
—
|
|
|
$
|
1,549,709
|
|
|
Receivables – clients – margin loan (net)(i)(ii)
|
|
|
—
|
|
|
|
3,276,678
|
|
|
Receivables – software licensing (including subscription based) and related support services
|
|
|
600,000
|
|
|
|
600,000
|
|
|
Receivables – Total(iii)
|
|
$
|
600,000
|
|
|
$ |
5,426,387 |
|
|
Contract assets – related party
|
|
|
400,000 |
|
|
|
1,200,000 |
|
|
|
|
|
|
|
|
|
|
|
|
Payables – brokerage services
|
|
|
—
|
|
|
|
1,417,153
|
|
|
Payables – Broker-dealer
|
|
|
—
|
|
|
|
75,136
|
|
|
Payables – Total
|
|
$
|
—
|
|
|
$
|
1,492,289
|
|
| |
(i) |
WSI extended a credit line of nil, $6.2 million and $4.3 million to WGI for margin transactions during the years ended March 31, 2026, 2025 and 2024, respectively.
|
| |
(ii) |
As of March 31, 2026 and 2025, the amounts consisted of margin loan receivables of nil and $3.3
million, respectively.
|
| |
(iii) |
As of March 31, 2026 and 2025, receivables from WGI, including margin loan receivables, have been
either fully collateralized by the client-owned securities held in the customer’s account or fully collected.
|
| |
|
For the years ended March 31,
|
|
| |
|
2026 |
|
|
2025
|
|
|
2024 |
|
|
Revenues – brokerage commission and handling charge income
|
|
$
|
1,388,841
|
|
|
$
|
2,539,260
|
|
|
$
|
1,757,731
|
|
|
Revenues – interest income
|
|
|
415,596
|
|
|
|
1,040,634
|
|
|
|
1,016,179
|
|
|
Revenues – software licensing (including subscription based) and related support services
|
|
|
400,000
|
|
|
|
1,200,000
|
|
|
|
1,197,551
|
|
|
Total
|
|
$
|
2,204,437
|
|
|
$
|
4,779,894
|
|
|
$
|
3,971,461
|
|
The Group conducts transactions with Zhou Kai through WSI. These transactions and related balance are as
follows:
| |
|
As of March 31, |
|
| |
|
2026
|
|
|
2025
|
|
|
Payables – brokerage services(i)
|
|
$
|
34,028
|
|
|
$
|
—
|
|
| |
|
For the years ended March 31,
|
|
| |
|
2026 |
|
|
2025
|
|
|
2024 |
|
|
Revenues – brokerage commission and handling charge income
|
|
$
|
1,656
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Revenues – interest income
|
|
|
37,212
|
|
|
|
—
|
|
|
|
—
|
|
|
Total
|
|
$
|
38,868
|
|
|
$
|
—
|
|
|
$
|
—
|
|
| |
(i) |
The
Company enters into a netting arrangement with Zhou Kai. Financial assets and liabilities are presented on a net basis in the consolidated balance sheets when the offsetting criteria under ASC 210 are met. As of March 31,
2026, Receivables from Clients – related party of approximately $0.77 million and Payables to Clients – related
party of approximately $0.80 million were offset, and the resulting net liability was recorded in Payables to
Client - related party.
|
|