Company: PAVS
Filing Date: 2025-08-04
Form Type: 20-F
Source: 0001929980-25-000590
Chunk: 187

Company: Paranovus Entertainment Technology Ltd.
Filing Date: 2025-08-04
Form: 20-F
Item: Item 18
Chunk 187
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, if over-allotment shares are placed by the underwriters. Without over-allotment share issuance, a total of 160,000 warrants will be granted). The warrants will be exercisable at an exercise price equal to one hundred twenty percent (120%) of the offering price, in whole or in parts, at any time from issuance and expire five (5) years from the effective date of the offering.

The Company’s outstanding and exercisable warrants as of March 31, 2025 are presented below:

                                                              Weighted                           Intrinsic  
                                                                                                            
                                                              Average                            Value      
                                                                                                            
                                                              Exercise                                      
                                                                                                            
                                                              Price                                         
  Warrants granted                               -            $             -           -                   
  Warrants forfeited                             -                          -           -                   
  Warrants exercised                             -            $             -           -                   
  Warrants Outstanding as of March 31, 2025      -                          -           -                   
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Warrants Outstanding as of March 31, 2020      160,000      $             6.60        4.6      $          
  Warrants Outstanding as of March 31, 2021      160,000      $             6.60        3.6      $          
  Warrants Outstanding as of March 31, 2022      160,000      $             6.60        2.6      $          
  Warrants Outstanding as of March 31, 2023      8,000                      132.00      1.6                 
  Warrants Outstanding as of March 31, 2024      8,000                      132.00      0.6                 

NOTE 11 - BUSINESS COMBINATION

Acquisition of 2Lab3

On March 28, 2023, the Company acquired100% equity interest of 2Lab3 with1,375,000Class A Ordinary Shares of the Company for investing with non-cash transactions. The Class A Ordinary Shares were valued at $5.15per share. 2Lab3 is a company incorporated in Delaware of United States. It used to consulting, marketing, design, and software development services to empower its clients to adapt and thrive in the Web 3.0 era, and now has transitioned to developing AI-powered applications. The results of 2Lab3 have been included in the consolidated financial statements of the Company