Company: AOAO
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001493152-25-001624
Chunk: 110

Company: Alpha One Inc.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 110
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ocai Yu, a related party. The maturity date is on February 20, 2026.

In February 2024, the Company obtained a loan in the principal amount of RMB817,142.84 (approximately $114,013 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, 2026.

In March 2024, the Company obtained a loan in the principal amount of RMB2,990,000 (approximately $414,109 when borrowed) from Bank of China, which bears interest at 3.00%. The loan is guaranteed by Xiaocai Yu, a related party. The maturity date is on March 27, 2025.

In March 2024, the Company obtained a loan in the principal amount of RMB3,000,000 (approximately $415,494 when borrowed) from SPD Bank, which bears interest at 4.45%. The loan is guaranteed by Xiaocai Yu, a related party. The maturity date is on March 29, 2025.

The balance of the loans borrowed as of March 31, 2024 and 2023 was as follows:

|                                          |     | As of March 
 31,         |      2024 |     |   |    2023 |
|:-----------------------------------------|:----|:------------|----------:|:----|:--|--------:|
| Bank loan from the Bank of China         |     | $           |   414,109 |     | $ | 435,377 |
| Bank of Communications                   |     |             |   270,071 |     |   |       - |
| SPD Bank                                 |     |             |   415,494 |     |   |       - |
| WeBank                                   |     |             |   390,169 |     |   | 208,224 |
| Aggregate outstanding principal balances |     |             | 1,489,843 |     |   | 643,601 |
| Less: current portion                    |     |             | 1,351,345 |     |   | 534,531 |
| Non-current portion                      |     | $           |   138,498 |     | $ | 109,070 |

The total interest expense was $57,767 and nil for the years ended March 31, 2024