$QDMI

DALE JARRETT RACING ADVENTURE INC

CIK:0001094032|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 8,392,383	$ 3,594,997
Cost of sales	4,128,106	1,050,746
Gross profit	4,264,277	2,544,251
Operating expenses
General & administrative expenses	484,497	367,194
Total operating expenses	484,497	367,194
Income from operations	3,779,780	2,177,057
Other income (expenses)
Finance costs	(1,487)	(1,718)
Other income, net	17,566	52,406
Total other income	16,079	50,688
Income before income taxes	3,795,859	2,227,745
Current income tax expenses	644,075	375,933
Net income	3,151,784	1,851,812
Total comprehensive income	$ 3,151,784	$ 1,851,812
Earnings per share of common stock:
Basic earnings per share (in Dollars per share)	$ 0.36	$ 0.22
Diluted earnings per share (in Dollars per share)	$ 0.36	$ 0.22
Weighted average basic & diluted shares outstanding:
Basic (in Shares)	8,636,186	8,577,679
Diluted (in Shares)	8,636,186	8,577,679

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 3,151,784	$ 1,851,812
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation	899	10,763
Non-cash lease expenses	(119,309)	27,140
Changes in working capital:
Accounts receivable	2,017,116	1,035,005
Prepaid expenses	(5,468,527)	(35,024)
Long-term prepaid expenses		59,583
Accounts payable & accrued liabilities	42,431	605,497
Income tax payable	372,078	375,933
Operating lease liabilities	119,340	(38,329)
Net cash provided by operating activities	115,812	3,892,380
Cash flows from investing activities:
Prepayment in connection with MCM Acquisition	(282,051)
Net cash used in investing activities	(282,051)
Cash flows from financing activities:
Payment for offering cost		(40,000)
Net cash used in financing activities		(40,000)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(166,239)	3,852,380
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	10,328,590	8,557,305
CASH AND CASH EQUIVALENTS, END OF PERIOD	10,162,351	12,409,685
SUPPLEMENTAL DISCLOSURES:
Right-of-use assets obtained in exchange for new operating lease liabilities	149,366
Cash paid for interest
Cash paid for income taxes	$ (272,001)

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Mar. 31, 2026
Current assets:
Cash and cash equivalents	$ 10,162,351	$ 10,328,590
Accounts receivable, net of credit loss allowance of $Nil and $Nil	879,998	2,897,114
Prepaid expenses and deposits	9,808,097	4,057,519
Total current assets	20,850,446	17,283,223
Right of use assets – operating lease	192,312	73,003
Long-term prepaid expenses and deposits	86,316	86,316
Property and equipment, net		899
Total assets	21,129,074	17,443,441
Current liabilities:
Accounts payable & accrued liabilities	124,655	82,224
Operating lease liabilities - current	115,381	40,703
Income tax payable	1,287,293	915,215
Total current liabilities	1,527,329	1,038,142
Operating lease liabilities – non current	75,342	30,680
Total liabilities	1,602,671	1,068,822
Temporary equity:
Redeemable Series B preferred stock, $0.0001 par value, 30,000,000 shares authorized, 6,013,500 and 6,013,500 issued and outstanding as of June 30, 2026 and March 31, 2026, respectively	812,851	812,851
Shareholders’ equity:
Common stock, $0.0001 par value, 700,000,000 shares authorized, 8,636,186 and 8,636,186 shares issued and outstanding as of June 30, 2026 and March 31, 2026, respectively	3,572	3,572
Treasury stock, 139 and 139 shares at cost	(60,395)	(60,395)
Additional paid-in capital	11,688,381	11,688,381
Retained earnings	7,081,994	3,930,210
Total shareholders’ equity	18,713,552	15,561,768
Total liabilities, temporary equity and shareholders’ equity	$ 21,129,074	$ 17,443,441