Company: AOAO
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001493152-25-027381
Chunk: 91

Company: Alpha One Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 91
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 | $               |  7,848,541 |   |     | $    | 12,072,815 |   |

| * | given effect of the Reverse Stock Split, see Note 
 17                                                |

<div align='center'>See accompanying notes to the consolidated financial statements</div>

| F-3 |

<div align='center'>Alpha One Inc. and Subsidiaries

Consolidated Statements of Operations and Comprehensive Income (Loss)

For the Years ended March 31, 2025 and 2024</div>

|                                                               |     | For the years ended 
 March 31,           |       2025 |   |     |   |        2024 |   |
|:--------------------------------------------------------------|:----|:--------------------|-----------:|:--|:----|:--|------------:|:--|
| Net revenues                                                  |     | $                   |    720,263 |   |     | $ |  23,549,144 |   |
| Cost of revenues (including nil and $575 from related parties 
 for the years ended March 31, 2025 and 2024, respectively)    |     |                     |   (864,677 | ) |     |   | (20,411,893 | ) |
| Gross (loss) profit                                           |     |                     |   (144,414 | ) |     |   |   3,137,251 |   |
| Operating expenses:                                           |     |                     |            |   |     |   |             |   |
| General and administrative expenses                           |     |                     |  1,219,242 |   |     |   |     695,672 |   |
| Finance cost                                                  |     |                     |      1,994 |   |     |   |       5,039 |   |
| Research and development expenses                             |     |                     |     95,916 |   |     |   |     182,574 |   |
| Provision for credit losses                                   |     |                     |  5,852,802 |   |     |   |     190,544 |   |
|                                                               |     |                     |  7,169,954 |   |     |   |   1,073,829 |   |
| Operating (loss) income                                       |     |                     | (7,314,368 | ) |     |   |   2,063,422 |