| PREPAID EXPENSES AND OTHER CURRENT ASSETS |
| 5. | PREPAID
EXPENSES AND OTHER CURRENT ASSETS, NET |
Prepaid
expenses and other current assets consisted of the following:
| |
|
As
of
March 31,
2026 |
|
|
As
of
September 30,
2025 |
|
| |
|
(Unaudited) |
|
|
|
|
| Loans to third parties(1) |
|
|
111,598 |
|
|
|
1,048,082 |
|
| Prepaid expenses(2) |
|
|
2,534,572 |
|
|
|
190,782 |
|
| Others(3) |
|
|
2,099,328 |
|
|
|
41,926 |
|
| Total
prepaid expenses and other current assets, net |
|
$ |
4,745,498 |
|
|
$ |
1,280,790 |
|
| (1) | In September 2025, the Company entered into agreements with Hangzhou Weishi Trading Co., Ltd. (“Hangzhou Weishi”), to lend up to RMB7,000,000 (approximately $983,284) to Hangzhou Weishi, with annualized interest rate at 4.00%, and due in September 2026. The Company has collected all the balance in February 2026. The balance as of March 31, 2026 mainly represented an interest-free loan to NEOLOGICS BIOSCIENCE INC. |
| (2) | The balance represented the unamortized portion of prepayments made to certain service providers of the Group for their daily operations, which was expected to amortize over a period of less than 12 months. |
| (3) | The balance as of March 31, 2026 mainly represented refundable equity investment prepayment of $2.0 million. |
|