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ACQUISITIONS OF SUBSIDIARIES | 9 Months Ended
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Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
ACQUISITIONS OF SUBSIDIARIES | ACQUISITIONS OF SUBSIDIARIES Acquisition of SilkNetCom On September 17, 2024, the Company completed the acquisition of SilkNetCom LLP by purchasing 100% of its participating interest. SilkNetCom LLP specializes in the field of provider services, IT and construction of telecommunications networks in private and public sectors. The purpose of the acquisition of SilkNetCom LLP was to use the acquired assets and licenses to develop our telecommunications business. As of September 17, 2024, the date of the acquisition of SilkNetCom LLP, the fair value of the net assets of SilkNetCom LLP was $23,672. The total purchase price was allocated as follows:
| As of September 17, 2024
ASSETS |
Cash and cash equivalents | 54 |
Margin lending, brokerage and other receivables, net | 7,417 |
Fixed assets, net | 41,770 |
Other assets, net | 270 |
TOTAL ASSETS | 49,511 |
LIABILITIES |
Margin lending and trade payables | 3,519 |
Current income tax liability | 5 |
Other liabilities | 22,315 |
TOTAL LIABILITIES | 25,839 |
Net assets acquired | 23,672 |
Goodwill | 208 |
Total purchase price | 23,880 |
Acquisition of EliteCom On October 17, 2024, the Company completed the acquisition of EliteCom LLP by purchasing 100% of its participating interest. EliteCom LLP provides telecommunications services, including Internet access, telephone services and cable television for individuals (B2C), provision of Internet access services for legal entities (B2B). The purpose of the acquisition of EliteCom LLP was to use the acquired assets and licenses to develop our telecommunications business. As of October 17, 2024, the date of the acquisition of EliteCom LLP, the fair value of the net assets of EliteCom LLP was $1,721. The total purchase price was allocated as follows:
| As of October 17, 2024
ASSETS |
Cash and cash equivalents | 38 |
Margin lending, brokerage and other receivables, net | 84 |
Fixed assets, net | 1,890 |
Intangible assets | 674 |
Other assets, net | 84 |
TOTAL ASSETS | 2,770 |
LIABILITIES |
Margin lending and trade payables | 24 |
Current income tax liability | 30 |
Other liabilities | 995 |
TOTAL LIABILITIES | 1,049 |
Net assets acquired | 1,721 |
Goodwill | 1,298 |
Total purchase price | 3,019 |

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805/tableOfContent + Details
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