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Prepayments and Other Receivables

9 Months Ended

Dec. 31, 2024

Prepayments and Other Receivables [Abstract]

PREPAYMENTS AND OTHER RECEIVABLES

4 — PREPAYMENTS AND OTHER RECEIVABLES

Prepayments and other current assets as of December 31, 2024 and March 31, 2024 consisted of the following:

		December 31, 2024				March 31, 2024
Prepaid rent		$	70,766			$	179,792
Prepayments to vendors			1,580,417				143,018
Prepaid iCloud Server			—				1,747
Prepaid insurance			293,294				237,207
Prepaid income tax			86,705				—
Prepayments to other service providers			275,510				26,896
Total Prepayment and Other Receivables		$	2,306,692			$	588,660

As of December 31, 2024 and March 31, 2024, the prepayments to vendors were $1.6 million and $0.1 million, respectively. The increase in prepayments to vendors was primarily due to the Company’s anticipation of growth in future sales and rental services. The Company plans to purchase more E-vehicles and related accessories from oversea vendors to support the expansion in retail and rental markets. These prepayments to vendors are expected to be settled by the end of March 2025.

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