v3.26.1
Condensed financial information of the Company
 12 Months Ended
Mar. 31, 2026
Condensed Financial Information Disclosure [Abstract]  
Condensed financial information of the Company

 

25. Condensed financial information of the Company

 

The following is the condensed financial information of the Company on a parent company only basis.

Condensed balance sheets

  

       
   As of March 31, 
   2026   2025 
ASSETS        
Current assets:          
Cash and cash equivalents  $862   $207,511 
Deferred expenses   —    52,500 
Amounts due from subsidiaries   3,719,219    3,701,752 
Amounts due from related parties   -    93,686 
Investment in subsidiaries   4,344,752    10,595,038 
TOTAL ASSETS  $8,064,833   $14,650,487 
LIABILITIES          
Current liabilities:          
Amounts due to related parties   —    7,107 
Interest payable   61,482      
Accrued expenses and liabilities   208,267    297,405 
Promissory note to related parties   1,000,000    600,000 
TOTAL LIABILITIES  $1,269,749   $904,512 
           
SHAREHOLDERS’ EQUITY:          
Ordinary shares, par value $0.0002 per share, 500,000,000 shares authorized; 16,199,451 and 15,929,451 shares issued and outstanding as of March 31, 2026 and March 31, 2025, respectively   3,240    3,186 
Preference shares, par value $0.0002 per share, 5,000,000 shares authorized; 1,000,000 and 0 shares issued and outstanding as of March 31, 2026 and March 31, 2025, respectively   200    - 
Additional paid-in capital   19,072,173    17,872,227 
Statutory reserve   —    40,590 
Accumulated deficit   (12,690,751)   (4,232,288)
Accumulated other comprehensive income   410,222    62,260 
TOTAL SHAREHOLDERS’ EQUITY  $6,795,084   $13,745,975 
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY  $8,064,833   $14,650,487 

 

Condensed statements of loss

  

          
   For the years ended March 31, 
   2026   2025   2024 
Revenue  $—   $—   $— 
Cost of revenue   —    —    — 
Gross profit   —    —    — 
Operating expenses:               
General and administrative expenses  $(1,898,577)  $(1,413,467)  $(825,582)
Share of loss in subsidiaries   (6,548,341)   (6,155,143)   (4,629,554)
Others, net   (52,135)   (12,842)   732,990 
Loss before income tax provision   (8,499,053)   (7,581,452)   (4,722,146)
Provision for income tax   —    —    — 
Net loss  $(8,499,053)  $(7,581,452)  $(4,722,146)

 

 

SKILLFUL CRAFTSMAN EDUCATION TECHNOLOGY LIMITED.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

 

Condensed statements of comprehensive loss

  

          
   For the years ended March 31, 
   2026   2025   2024 
Net loss  $(8,499,053)  $(7,581,452)  $(4,722,146)
Other comprehensive income/(loss)   347,962    107,698    (733,539)
Total comprehensive loss  $(8,151,091)  $(7,473,754)  $(5,455,685)

 

Condensed cash flow

  

          
   For the years ended March 31, 
   2026   2025   2024 
Net cash used in operating activities  $(606,950)  $(624,183)  $(966,510)
Net cash used in investing activities   —    —    — 
Net cash provided by financing activities   400,000    600,000    — 
Net cash outflow  $(206,950)  $(24,183)  $(966,510)

 

Basis of presentation

 

Condensed financial information is used for the presentation of the Company, or the parent company. The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements.

 

The parent company only condensed financial information is not the general-purpose financial statements of the reporting entity and should be read in conjunction with the consolidated financial statements of the Company.