Company: AOAO
Filing Date: 2025-02-24
Form Type: S-1/A
Source: 0001493152-25-008010
Chunk: 96

Company: Alpha One Inc.
Filing Date: 2025-02-24
Form: S-1/A
Chunk 96
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, 2024, the Company will accelerate the collection of accounts receivable, $2.5 million will be received as of June 30, 2025 and $2.79 million to be collected in the next 12 months that based on the agreed extra payment term on the ongoing contracts. From October 2024 to January 2025, the Company has collected $1.15 million out of the $2.5 million, and regards of well-known reputation of customers, we assume that we will be able to successfully collect such amounts within the extra payment term; (2) the continued financial support from its stockholders or its ability to obtain external financing, the company has only obtained verbal funding commitments from stockholders, which are non-binding and may not be fulfilled; (3) further to make the cost controlling; and (4) implement management’s business plan to extend its operations and generate sufficient revenues to meet its obligations. While the Company believes in the viability of its strategy to increase sales volume and in its ability to raise additional funds, there can be neither any assurances to that effect, nor any assurance that the Company will be successful in securing sufficient funds to sustain the operations. In long-term, the continuation of the Company as a going concern is dependent upon (i) further implement management’s business plan to extend its operations and generate sufficient revenues to meet its obligations; (ii) Shorten customer payment terms and extend supplier payment terms; and (iii) maintain to obtain the revolving credit lines and loans with lower interest from the bank.

Management believes that the actions presently being taken to obtain additional funding and implement its strategic plan provides the opportunity for the Company to continue as a going concern.

Basis of presentation

These consolidated financial statements, accompanying notes, and related disclosures have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). These financial statements have been prepared using the accrual basis of accounting in accordance with the generally accepted accounting principles in the United States (“U.S. GAAP”). The Company’s fiscal year end is March 31. The Company’s financial statements are presented in U.S. dollars.

Basis of consolidation

The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated. The results of subsidiaries acquired during the respective periods are included in the consolidated statements of operations from the effective date of acquisition or up to the effective date of disposal, as appropriate. The portion of the income or loss applicable to noncontrolling