XML 23 R12.htm IDEA: XBRL DOCUMENT v3.25.2
DEBT SECURITIES HELD-TO-MATURITY
 3 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
DEBT SECURITIES HELD-TO-MATURITY

6. DEBT SECURITIES HELD-TO-MATURITY

 

   June 30, 2025   March 31, 2025 
           
Debt securities held-to-maturity  $17,500,000   $17,500,000 

 

The Company purchased a note issued by a third-party investment company on August 24, 2022. The principal amount of the note was $17,500,000. The note was renewable with a one-year term on August 23, 2023 and it was a 2.5% p.a. coupon. On August 23, 2023, the Company entered into an agreement to transfer the principal and coupon receivable to a third party. The debt is guaranteed by Hongye Financial Consulting (Shenzhen) Co., Ltd., the company controlled by our CEO, Mr. Zhida Hong. On August 24, 2024, a Supplemental Agreement to the note was signed to extend the maturity date to August 24, 2025. As of June 30, and March 31, 2025, the coupon receivable was approximately $255,000 and $ 365,000.