| Schedule of accounts payable and accrued expenses |
Schedule
of accounts payable and accrued expenses
| | |
As of
June 30, 2026 | | |
As of
March 31, 2026 | |
| Accounts payable (1) | |
| 11,482,159 | | |
| 14,837,965 | |
| Accrued expenses (2) | |
| 12,546,842 | | |
| 10,168,147 | |
| Amounts due to employees (3) | |
| 667,473 | | |
| 961,395 | |
| Due to insurer (4) | |
| 4,408,889 | | |
| 4,278,440 | |
| Accounts payable and
accrued expenses | |
| 29,105,363 | | |
| 30,245,947 | |
| |
1) |
Accounts
Payable includes $1,888,756 and
$1,147,560 related
to cost of services as of June 30, 2026 and March 31, 2026, respectively; $7,800,026
and $10,127,066 related
to operating expenses as of June 30, 2026 and March 31, 2026, respectively; and $1,793,377 and
$3,587,098 related
to SPAC payables as of June 30, 2026 and March 31, 2026, respectively. |
| |
2) |
Accrued
Expenses include $418,234 and $429,831 related to cost of services as of June 30, 2026 and March 31, 2026, respectively; $7,187,133
and $6,078,917 related to operating expenses as of June 30, 2026 and March 31, 2026, respectively; and $4,941,475 and $3,659,399
related to interest due but not paid as of June 30, 2026 and March 31, 2026, respectively. |
| |
3) |
Amounts
Due to Employees, comprised of salary and reimbursement payables, include related party balances of $67,932 and $93,849 as of
June 30, 2026 and March 31, 2026, respectively. |
| |
4) |
Sum
due to insurer represents the net amount of premium due to insurers based on the respective contract with each insurer. The net amount
due is equal to the gross written premium less the Company’s commission for policies that have reached their effective date.
The sum due to insurer was $4,408,889 as of June 30, 2026, which represents funds from the insurer to meet working capital requirements/contingencies
arising out of claim settlement. |
|