Prepayments and Other Receivables |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Prepayments and Other Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PREPAYMENTS AND OTHER RECEIVABLES | 5 — PREPAYMENTS AND OTHER RECEIVABLES
Prepayments and other receivables as of June 30, 2026 and March 31, 2026 consisted of the following:
On April 1, 2025, the Company entered into share transfer agreements for the sale of 100% of its equity interests in subsidiaries – FLYEBIKE BROOKLYN INC, FLYMHT659 INC, and FLYBX745 INC – to third-party buyers for a total cash consideration of $310,055, with no contingent payments or adjustments. In June 2025, the Company received $30,000 from the buyers. For the three months ended June 30, 2026, the Company received $46,925 from the buyers. As of June 30, 2026, the remaining consideration due from such buyers was $233,130 (See Note - 14 — DISPOSAL OF SUBSIDIARIES).
On May 1, 2025, the Company entered into share transfer agreements for the sale of 100% of its equity interests in subsidiaries – ARFY CORP., FLY GC INC., and ESEBIKE INC – to third-party buyers for a total cash consideration of $156,517, with no contingent payments or adjustments. In June 2025, the Company received $55,000 from the buyers. For the three months ended June 30, 2026, the Company received $101,517 from the buyers with outstanding consideration remaining as of June 30, 2026 (See Note - 14 — DISPOSAL OF SUBSIDIARIES).
On June 1, 2025, the Company entered into share transfer agreements for the sale of 100% of its equity interests in subsidiaries – UFOTS CORP and FLYCORONA INC – to third-party buyers for a total cash consideration of $60,207, with no contingent payments or adjustments. In June 2025, the Company received $27,000 from the buyers. For the three months ended June 30, 2026, the Company received $30,111 from the buyers. As of June 30, 2026, the remaining consideration due from such buyers was $3,096 (See Note - 14 — DISPOSAL OF SUBSIDIARIES).
On July 1, 2025, the Company entered into share transfer agreements for the sale of 100% of its equity interests in subsidiaries –OFLYO INC, FLYCYCLE INC and FLYBX2381 INC– to third-party buyers for a total cash consideration of $57,991, $71,301 and $106,647 respectively, with no contingent payments or adjustments. For the three months ended June 30, 2026, the Company received $46,265, $71,301 and $48,428 from the buyers. As of June 30, 2026, the remaining consideration due from such buyers was $11,726, $ and $58,219, respectively, (See Note - 14 — DISPOSAL OF SUBSIDIARIES).
On August 1, 2025, the Company entered into share transfer agreements for the sale of 100% of its equity interests in subsidiaries –FLYAM INC, FLYTRON INC and MEEBIKE – to third-party buyers for a total cash consideration of $36,879, $19,959 and $39,489, respectively, with no contingent payments or adjustments. For the three months ended June 30, 2026, the Company received $31,760, $6,000 and $39,489 from the buyers. As of June 30, 2026, the remaining consideration due from such buyers was $5,119, $13,959 and $, respectively, (See Note - 14 — DISPOSAL OF SUBSIDIARIES).
On September 1, 2025, the Company entered into share transfer agreements for the sale of 100% of its equity interests in subsidiaries –TKPGO CORP, FIYET INC and FLYCLB INC – to third-party buyers for a total cash consideration of $1,707, $1 and $1, respectively, with no contingent payments or adjustments. For the three months ended June 30, 2026, the Company received $1,707, $1 and $1 from the buyers with outstanding consideration remaining as of June 30, 2026. (See Note - 14 — DISPOSAL OF SUBSIDIARIES).
On December 19, 2025, the Company entered into share transfer agreements for the sale of 100% of its equity interests in subsidiaries – DCMOTOR INC and FLYNJ1 INC to third-party buyers for a total cash consideration of $1 and $1, respectively, with no contingent payments or adjustments. For the three months ended June 30, 2026, the Company received $1 and $ from the buyers. As of June 30, 2026, the remaining consideration due from such buyers was $1 (See Note - 14 — DISPOSAL OF SUBSIDIARIES). On January 1, 2026, the Company entered into share transfer agreements for the sale of 100% of its equity interests in subsidiaries – FLYFLS INC, FLYNJ2 INC, FLY E BIKE NJ3, INC, FLYNJ4 INC, FLYTORONTO Corp to third-party buyers for a total cash consideration of $69,420, $68,627, $511,353, $146,473 and $628,151, respectively, with no contingent payments or adjustments. For the three months ended June 30, 2026, the Company received $, $25,000, $68000, $ and $17,990 from the buyers. As of June 30, 2026, the remaining consideration due from such buyers was $69,420, $43,627, $443,353, $146,473 and $610,161, respectively (See Note - 14 — DISPOSAL OF SUBSIDIARIES).
On February 10, 2026, the Company advanced retail store renovation fees on behalf of FLYFLS INC, DCMOTOR INC, FLYNJ1 INC and FLY E BIKE NJ3, with cash payments of $400,000, $400,000, $400,000 and $100,000, respectively, which are recovered from these companies. |
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