v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Mar. 31, 2025
Current assets:    
Cash and cash equivalents $ 16,804 $ 3,838
Cash segregated for regulatory purpose 2,244 5,019
Prepaid expenses and other current assets, net 2,323 577
Right to receive cryptocurrencies, net of allowance for credit losses of $74,000 and nil as of March 31, 2026 and 2025, respectively 3,940
Total current assets 37,659 9,657
Non-current assets:    
Investment in an associate 7,530
Long-term investments, net 494 368
Property and equipment, net 319 157
Operating right-of-use assets, net 2,418 671
Intangible assets, net 607 86
Refundable deposits 1,129 1,017
Prepaid expenses, net 503 352
Goodwill, net 47
Total non-current assets 13,047 2,651
TOTAL ASSETS 50,706 12,308
Current liabilities:    
Other borrowings 420
Payables to customers 2,837 5,022
Accruals and other current liabilities 2,403 524
Payables to AI cloud service providers 10,449
Convertible notes 5,232
Operating lease liabilities - current 1,222 577
Amount due to directors 198 951
Total current liabilities 24,363 7,494
Non-current liabilities:    
Operating lease liabilities - non-current 1,232 83
Total non-current liabilities 1,232 83
TOTAL LIABILITIES 25,595 7,577
COMMITMENTS AND CONTINGENCIES
Shareholders’ equity    
Additional paid-in capital 52,830 19,219
Accumulated losses (27,696) (14,522)
Accumulated other comprehensive income 21 32
Total shareholders’ equity 25,174 4,731
Non-controlling interests (63)
TOTAL EQUITY 25,111 4,731
TOTAL LIABILITIES AND EQUITY 50,706 12,308
Class A Ordinary Shares    
Shareholders’ equity    
Ordinary shares, value [1] 16 1
Class B Ordinary Shares    
Shareholders’ equity    
Ordinary shares, value [1] 3 1
Customers    
Current assets:    
Receivables 11,257 146
Related Party    
Current assets:    
Receivables 339 46
Amount due from related parties 38 12
Current liabilities:    
Amount due to related parties 2,022
Brokers-dealers and clearing organizations    
Current assets:    
Receivables $ 714 $ 19
[1] Retroactively restated for effect of share re-classification on December 17, 2024 (see Note 16)