Company: AOAO
Filing Date: 2025-02-24
Form Type: S-1/A
Source: 0001493152-25-008010
Chunk: 125

Company: Alpha One Inc.
Filing Date: 2025-02-24
Form: S-1/A
Chunk 125
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 electronic products trading and telecommunication engineering services to our future clients.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Going concern

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the discharge of liabilities in the normal course of business for the foreseeable future. For the six months ended September 30, 2024, the Company incurred a net loss of $860,310 and used cash in operating activities of $1,337,237. For the three months ended September 30, 2024, the Company had incurred a net loss of $590,469. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date the financial statements are issued. The Company’s financial statements do not include any adjustments that might result from the outcome of this uncertainty should we be unable to continue as a going concern.

Management estimates that the current funds on hand will be sufficient to continue operations through the next 12 months. The continuation of the Company as a going concern is dependent upon (1) there was $6.25 million overdue one year (aging over 360 days) as of September 30, 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; (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; (