Company: PAVS
Filing Date: 2025-08-04
Form Type: 20-F
Source: 0001929980-25-000590
Chunk: 191

Company: Paranovus Entertainment Technology Ltd.
Filing Date: 2025-08-04
Form: 20-F
Item: Item 18
Chunk 191
---
 ( 93,098,463  
  Selling and marketing                                                                                                ( 905,694                   ( 12,258,710                 ( 53,790,207  
  General and administrative                                                                                           ( 29,774                     ( 1,900,701                  ( 6,386,621  
  Research and development                                                                                             -                              ( 190,575                  ( 1,397,118  
  Goodwill impairment                                                                                                  -                                      -                  ( 7,872,696  
  Other expense that are not major                                                                                     ( 76                           ( 190,421                     ( 57,880  
  Loss from discontinued operations, before income tax                                                                 ( 935,559                   ( 13,281,187                 ( 64,450,160  
  Income tax benefit (expense)                                                                                         -                                 95,630                  ( 3,457,080  
  Loss from discontinued operations, net of income tax                                                                 ( 935,559                   ( 13,185,557                 ( 67,907,240  
  (Loss) gain on disposal of discontinued operations                                                                   ( 367,223                      7,547,428                            -  
  Net loss from discontinued operations, net of income tax                          $                                  ( 1,302,782      $           ( 5,638,129      $          ( 67,907,240  

NOTE 13 - COMMITMENTS AND CONTINGENCIES

As of March 31, 2025 and 2024, Company has no significant leases or unused letters of credit.

From time to time, the Company is involved in various legal proceedings, claims and other disputes arising from commercial operations, employees, and other matters which, in general, are subject to uncertainties and in which the outcomes are not predictable. The Company determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. Although the Company can give no assurances about the resolution of pending claims, litigation or other disputes and the effect such outcomes may have on the Company, the Company believes that any ultimate liability resulting from the outcome of such proceedings, to the extent not otherwise provided or covered by insurance, will not have a material adverse effect on our consolidated financial position or results of operations or liquidity. As of March 31, 2025 and 2024, Company has no pending legal proceedings.

NOTE 14 - CUSTOMER AND SUPPLIER CONCENTRATION

Significant customers and suppliers are those that account for