Company: AOAO
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001493152-25-018240
Chunk: 102

Company: Alpha One Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 102
---
”) as reductions of revenues. The Company recognizes revenues net of value added taxes (“VAT”) and relevant charges.

Telecommunication Construction Services

The Company recognizes revenue from provision of Telecommunication Construction Services over time because the Company’s construction activities create or enhance assets controlled by the customers. The Company adopts the input method to measure performance progress and revenue is recognized based on the proportion of the actual costs incurred relative to the estimated total costs. Where the performance progress cannot be determined reasonably, revenue is recognized based on the amount of cost that is expected to be compensated based on the cost already incurred, until the performance progress can be reasonably determined.

Intelligent products

The Company recognizes the net product revenues from the product sales model on a gross basis as the Company is acting as a principal in these transactions and is responsible for fulfilling the promise to provide the specified goods. The Company generates revenue primarily from the sales of intelligent products directly to the customers, with majority of sales transactions were conducted offline. The Company recognizes product revenue at a point in time when the control of the products has been transferred to customers. The transfer of control is considered complete when products have been picked up by or delivered to our customers. The Company accounts for shipping and handling fees as a fulfillment cost.

| F-11 |

The following table provides information about disaggregated revenue based on revenue by product types:

|                                        |     | For the years ended 
 March 31,           |    2025 |     |   |       2024 |
|:---------------------------------------|:----|:--------------------|--------:|:----|:--|-----------:|
| Telecommunication engineering services |     | $                   | 720,263 |     | $ |  5,968,562 |
| Intelligent products                   |     |                     |       - |     |   | 17,580,582 |
| Total                                  |     | $                   | 720,263 |     | $ | 23,549,144 |

Contract liabilities

A contract liability is recognized when the customer pays consideration before the Company recognizes the related revenue. A contract liability would also be recognized if the Company has an unconditional right to receive consideration before the Company recognizes the related revenue. In such cases, a corresponding receivable would also be recognized. As of March 31, 2025 and 2024, the Company had contract liabilities of $1,689,834 and $8,112, respectively.

Cost of revenues

Amounts recorded as cost of revenues relate to direct expenses incurred in order to