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BONDS PAYABLE
 3 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
BONDS PAYABLE

8.       BONDS PAYABLE

 

Bonds payable consisted of the following:

      
   As of
   June 30, 2026  March 31, 2026
Principal amounts of bonds payable  $92,795   $92,795 
Less: unamortized discounts   (608)   (660)
Bonds payable, net   92,187    92,135 
           
Representing:          
Current portion   92,187    73,708 
Non-current portion   –    18,427 
Long term portion  $92,187   $92,135 

 

These bonds were issued by the Company’s subsidiary, ASN to certain third parties of an aggregate principal amount of $331,874 (HK$2,600,000) under the bond agreements, which carried interest at a rate of 8% per annum.

 

Bond A: Both annual interest and the principal amount became monthly payable after the seventh month of the bond agreements up to maturity date.

 

Bond B : Both annual interest and the full principal amount became payable in its entirety at the maturity date.

 

The debt discounts are amortized into interest expense using the effective interest method over the terms of the bonds. Interest expense in relation to bonds payable for the three months ended June 30, 2026, and 2025 were $16,725 and $14,603, respectively.