Company: AOAO
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001493152-25-027381
Chunk: 141

Company: Alpha One Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 141
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 been transferred to customers. The transfer of control is considered complete when products have been picked up by or delivered to our customers. We account for shipping and handling fees as a fulfillment cost.

| F-28 |

The following table provides information about disaggregated revenue based on revenue by product types:

|                                        |     | For three months ended 
 June 30,               |      2025 |     |   |    2024 |
|:---------------------------------------|:----|:-----------------------|----------:|:----|:--|--------:|
| Telecommunication engineering services |     | $                      |   629,614 |     | $ | 318,845 |
| Intelligent products                   |     |                        | 2,688,784 |     |   |       - |
| Total                                  |     | $                      | 3,318,398 |     | $ | 318,845 |

Contract liabilities

Contract liabilities consist mainly of customer advances. On certain occasions, the Company may receive prepayments from downstream retailers or wholesales customers for wines, water and other products prior to them taking possession of the Company’s products. The Company records these receipts as customer advances until the control of the products has been transferred the customers. As of June 30, 2025 and March 31, 2025, the Company had contract liabilities of $394,738 and $1,689,834, respectively.

General and administrative expenses

General and administrative expenses consist primarily of salary and welfare for general and administrative personnel, rental expenses, entertainment expenses, general office expenses and professional service fees.

Research and development expenses

Research and development expenses consist primarily of payroll and related expenses for research and development employees involved in designing, developing and maintaining telecommunication information system, and technology infrastructure costs. We expect our research and development expenses to increase in absolute amounts in the foreseeable future as we continue to invest in technology and innovation to expand our technology capabilities.

Value-added taxes

Revenue is recognized net of value-added taxes (“VAT”). The VAT is based on gross sales price and VAT rates applicable to the Company is 13%. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities. Net VAT balance between input VAT and output VAT is recorded as VAT payable if output VAT is larger than input VAT and is recorded as VAT recoverable if input VAT is larger than output VAT. For entities that are qualified for VAT small taxpayers, entities are allowed to enjoy preferential tax rate from 3%