Company: AOAO
Filing Date: 2025-02-24
Form Type: S-1/A
Source: 0001493152-25-008010
Chunk: 113

Company: Alpha One Inc.
Filing Date: 2025-02-24
Form: S-1/A
Chunk 113
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 for office spaces in PRC with a non-related party.

As of March 31, 2024, the Company recognized operating lease liabilities, including current and noncurrent, in the amount of $11,066.

|                                           |     | As of March 31, |   2024 |     |   |   2023 |
|:------------------------------------------|:----|:----------------|-------:|:----|:--|-------:|
| Right-of-use assets-operating lease       |     | $               |  8,542 |     | $ | 24,375 |
| Operating lease liabilities – current     |     | $               | 11,066 |     | $ | 18,567 |
| Operating lease liabilities – non-current |     |                 |      - |     |   | 11,634 |
| Total lease liabilities                   |     | $               | 11,066 |     | $ | 30,201 |

The components of lease expense and supplemental cash flow information related to leases for the years ended March 31, 2024 and 2023 are as follows:

| Other information for the years ended            |     | 2024 |   |   |     | 2023 |    |   |
| Weighted average remaining lease term (in month) |     |      | 7 |   |     |      | 19 |   |
| Weighted average discount rate                   |     |      | 5 | % |     |      |  5 | % |

Lease expenses were $30,506 and $16,678 for the years ended March 31, 2024 and 2023, respectively.

| F-18 |

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 Xiaocai Yu, a related party. The maturity date is on February 20, 2025. The loan was fully repaid in February 2024.

In March 2023, the Company obtained a loan in the principal amount of RMB2,990,000 (approximately $435,377 when borrowed) from Bank of China, which bears interest at 3.85%. The loan is guaranteed by Xiaocai Yu, a related party. The maturity date