Company: AOAO
Filing Date: 2025-07-30
Form Type: S-1/A
Source: 0001641172-25-021532
Chunk: 63

Company: Alpha One Inc.
Filing Date: 2025-07-30
Form: S-1/A
Chunk 63
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,827,534 | ) |     | $ |  2,518,461 |     | $ | (7,345,995 | ) |

As of March 31, 2025, we had total current assets of $5,926,787 consisting of cash on hand and at banks of $614, all held in USD, net accounts receivable of $3,182,171, net prepayments and other receivables of $2,435,228, and due from related party of $160,573, compared to total current assets of $11,588,952 as of March 31, 2024 consisting of cash on hand and at banks of $383,682, of which $383,682 held in USD, net accounts receivable of $9,746,035, net prepayments and other receivables of $1,149,225, and due from related party of $310,010. The decrease was mainly due to the decrease in accounts receivable in 2025. We had current liabilities of $10,754,321, mainly consisting of accounts payable of $823,331, contract liabilities of $1,689,834, accrued expenses and other payables of $3,875,994, current portion of bank and other borrowings of $1,243,617 (incurred by the PRC operating subsidiary, the aggregate outstanding principal balances was $1,392,112), current portion of operating lease liabilities of $26,435, income tax payable of $648,617 and due to related parties of $2,440,269, compared to total current liabilities of $9,070,491 as of March 31, 2024.

As a holding company with no material operations of our own, we conduct our operations primarily through our PRC subsidiaries in China. We are permitted under PRC laws and regulations to provide funding to our PRC subsidiaries in China through capital contributions or loans, subject to the approval from governmental authorities and limitation of amount, or we may make additional capital contributions to our PRC subsidiaries in China. As of March 31, 2025, current portion of bank and other borrowings of $1,243,6174 out of total balances $1,392,112 incurred by our PRC operating subsidiaries. These debt agreements may restrict the ability of our PRC subsidiaries to transfer their net assets to us through cash dividends which their assets are a security to bank borrowings. We may rely on dividends paid by