Company: AOAO
Filing Date: 2025-02-24
Form Type: S-1/A
Source: 0001493152-25-008010
Chunk: 67

Company: Alpha One Inc.
Filing Date: 2025-02-24
Form: S-1/A
Chunk 67
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     | $ |  (96,150 | ) |
| Total current liabilities |     |   |  9,834,282 |     |   |      9,070,491 |     |   |  763,791 |   |
| Working capital           |     | $ |  1,658,520 |     | $ |      2,518,461 |     | $ | (859,941 | ) |

As of September 30, 2024, we had total current assets of $11,492,802 consisting of cash on hand and at bank of $3,225, of which $3,225 held in RMB, net accounts receivable of $9,632,028, net prepayments and other receivables of $1,706,841 and due from related party of $150,708, as compared to total current assets of $11,588,952 as of March 31, 2024. The decrease was mainly reflected in lesser cash and cash equivalents. As of September 30, 2024, we had current liabilities of $9,834,282 consisting of current portion of operating lease liabilities of $1,647, accounts payable of $1,208,325, accrued expenses and other payables of $4,426,149, current portion of bank borrowings of $1,433,657 and due to related parties of $2,084,224, as compared to total current liabilities of $9,070,491 as of March 31, 2024. The increase was mainly reflected in higher amounts due to related parties.

The Company’s net loss of $860,310 for the six months ended September 30, 2024, compared to the net income of $512,866 for the six months ended September 30, 2023.

As a holding company with no material operations of our own, we conduct our operations primarily through our PRC subsidiaries in China. We are permitted under PRC laws and regulations to provide funding to our PRC subsidiaries in China through capital contributions or loans, subject to the approval from governmental authorities and limitation of amount, or we may make additional capital contributions to our PRC subsidiaries in China. As of September 30, 2024, current portion of bank and other borrowings of $1,433,657 out of total balances $1,522,445 incurred by our PRC operating subsidiaries. These debt agreements may restrict the ability of our PRC subsidiaries