Company: AOAO
Filing Date: 2025-02-24
Form Type: S-1/A
Source: 0001493152-25-008010
Chunk: 138

Company: Alpha One Inc.
Filing Date: 2025-02-24
Form: S-1/A
Chunk 138
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278,692 |

NOTE 7 – ACCRUED EXPENSES AND OTHER PAYABLES

As of September 30, 2024 and March 31, 2024, accrued expenses and other payables consisted of the following:

|                                     |     |   | September 30, 
          2024 |     |   | March 31, 
      2024 |
|:------------------------------------|:----|:--|--------------:|:----|:--|----------:|
| Staff salaries and welfare payables |     | $ |       164,758 |     | $ |   145,512 |
| Engineering labor cost payables     |     |   |     2,405,019 |     |   | 2,131,664 |
| VAT and other tax payables          |     |   |       690,364 |     |   |   713,510 |
| Others                              |     |   |     1,166,008 |     |   | 1,163,054 |
|                                     |     | $ |     4,426,149 |     | $ | 4,153,740 |

As of September 30, 2024 and March 31, 2024, the engineering labor cost was accrued according to the progress of project. Others represent loan from individuals and expenses paid on behalf of staffs.

NOTE 8 – CONTRACT LIABILITIES

|                                    |     |   | September 30, 
          2024 |     |   | March 31, 
      2024 |
|:-----------------------------------|:----|:--|--------------:|:----|:--|----------:|
| Billings in advance of performance |     | $ |         8,345 |     | $ |     8,112 |

As of September 30, 2024 and March 31, 2024, billings in advance of performance are expected to be recognised as income within one year.

| F-32 |

NOTE 9 - INCOME TAXES

United States of America

The Company is registered in the State of Wyoming and is subject to United States of America tax law. The U.S. federal income tax rate is 21%.

British Virgin Islands

Our subsidiary incorporated in the British Virgin Islands is not subject to income or capital gains tax under the current laws of the British Virgin Islands. The British Virgin Islands does not impose withholding tax on dividend payments.

Hong Kong