Company: AOAO
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001493152-25-001624
Chunk: 137

Company: Alpha One Inc.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 137
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 parties as borrowings or funds advanced to pay off the Company’s expenses. The balances are unsecured, non-interest bearing.

Due to related parties mainly consists of borrowings for working capital purpose, the balances are unsecured, non-interest bearing and due on demand.

NOTE 11 – OPERATING LEASES

As of September 30, 2024, the Company has one operating lease agreements for office spaces in PRC (non-related party) with remaining lease terms of 1 month.

As of September 30, 2024, the Company recognized operating lease liabilities, including current and noncurrent, in the amount of $1,647.

|                                           |     |   | September 30, 
          2024 |     |   | March 31, 
      2024 |
|:------------------------------------------|:----|:--|--------------:|:----|:--|----------:|
| Right-of-use assets-operating lease       |     | $ |         1,255 |     | $ |     8,542 |
| Operating lease liabilities – current     |     | $ |         1,647 |     | $ |    11,066 |
| Operating lease liabilities – non-current |     |   |             - |     |   |         - |
| Total lease liabilities                   |     | $ |         1,647 |     | $ |    11,066 |

The components of lease expense and supplemental cash flow information related to leases for the six months ended September 30, 2024 and 2023 are as follows:

| Other information for the months ended           |     | 2024 |   |   |     | 2023 |    |   |
| Weighted average remaining lease term (in month) |     |      | 1 |   |     |      | 13 |   |
| Weighted average discount rate                   |     |      | 5 | % |     |      |  5 | % |

Lease expenses were $9,669 and $9,274 for the six months ended September 30, 2024 and 2023, respectively.

| F-34 |

NOTE 12 – BANK AND OTHER BORROWINGS

In February 2023, the Company obtained a loan in the principal amount of RMB1,430,000 (approximately $208,224 when borrowed) from WeBank, which bears interest at 15.05%. The loan is guaranteed by Xiaoc