| Loans Receivable |
4. Loans receivable As of June 30, 2026 and March 31, 2026, loans receivable consisted of the following: | | | As of | | | | | June 30,
2026 | | | March 31,
2026 | | | Receivable due from customers holding US stocks or HK stocks (i) | | $ | 3,339,607 | | | $ | 1,096,030 | | | Less: allowance for expected credit loss on receivable due from customers holding US stocks or HK stocks | | | (506,251 | ) | | | (506,380 | ) | | Receivable due from customers holding US stocks or HK stocks, net | | | 2,833,356 | | | | 589,650 | | | Loans receivable (ii) | | | 78,349,045 | | | | 11,162,121 | | | Loan receivable, net | | $ | 81,182,401 | | | $ | 11,751,771 | | | (i) | The balance due from customers holding US stocks or HK stocks represented the purchase price of stock exceeding the deposits paid by customers which traded these US stocks or HK stocks through the Company’s platform. The US stocks and HK stocks were under custodian of the Company, and the customers shall fully pay the balance to the Company before they sold these stocks. For the three months ended June 30, 2026 and 2025, the Company did not provide expected credit loss against the receivables due from these customers. | | (ii) | The Company’s loan business is approved by Hong Kong Licensing Court under the Money Lenders Ordinance. The Company disbursed loans to customers for a fixed period and charged interests from the customers. The principal and interest are repayable upon the maturity of the loans. For the three months ended June 30, 2026 and 2025, the Company recognized interest income of $416,139 and $191,022 from the loan business. As of June 30, 2026, the loans receivables were comprised of principal of $78,537,345 and interest of $811,700, respectively. As of March 31, 2026, the loans receivables were comprised of principal of $10,713,159 and interest of $448,962, respectively. |
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