Company: AOAO
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001493152-25-027381
Chunk: 117

Company: Alpha One Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 117
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 ACCRUED EXPENSES AND OTHER PAYABLE

Accrued expenses and other payable consisted of the following:

|                                     |     | As of March 31, |      2025 |     |   |      2024 |
|:------------------------------------|:----|:----------------|----------:|:----|:--|----------:|
| Staff salaries and welfare payables |     | $               |   213,391 |     | $ |   145,512 |
| Engineering labor costs payable     |     |                 | 2,271,380 |     |   | 2,131,664 |
| VAT and other tax payables          |     |                 |   616,085 |     |   |   713,510 |
| Others                              |     |                 |   775,138 |     |   | 1,163,054 |
|                                     |     | $               | 3,875,994 |     | $ | 4,153,740 |

As of March 31, 2025 and 2024 the engineering labor costs accrued according to the progress of the project. Unpaid costs mainly due to the project not completed and accepted. Others represent loan from individuals and expenses paid on behalf of staffs.

NOTE 9 – CONTRACT LIABILITIES

|                     |     | As of March 
 31,         |      2025 |     |   |  2024 |
|:--------------------|:----|:------------|----------:|:----|:--|------:|
| Billings in advance 
 of performance      |     | $           | 1,689,834 |     | $ | 8,112 |

As of March 31, 2025 and 2024, billings in advance of performance are expected to be recognized as income within one year.

NOTE 10 - INCOME TAXES

United States of America

The Company is registered in the State of Wyoming and is subject to United States of America tax law. The U.S. federal income tax rate is 21%.

British Virgin Islands

The Company’s subsidiary incorporated in the British Virgin Islands is not subject to income or capital gains tax under the current laws of the British Virgin Islands. The British Virgin Islands does not impose withholding tax on dividend payments.

Hong Kong

Under the current Hong Kong Inland Revenue Ordinance, our subsidiaries incorporated in Hong Kong are subject to a two-tiered profits tax rates regime. Under the two-tier