$GVHGF

Visionary Holdings Inc.

CIK:0001892274|SEC Filings

CONSOLIDATED STATEMENTS OF (LOSS) INCOME AND COMPREHENSIVE (LOSS) INCOME - USD ($)	12 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Mar. 31, 2023
Total Revenues	$ 5,044,297	$ 9,380,985	$ 8,432,511
Total cost of revenues	(3,631,578)	(6,841,136)	(4,669,191)
Gross Profit	1,412,719	2,539,849	3,763,320
Operating expenses:
General and administrative expenses	(2,190,852)	(1,148,172)	(1,227,424)
Professional fees	(2,110,047)	(2,907,676)	(968,435)
Salaries	(580,907)	(812,388)	(1,136,676)
Total operating expenses	(4,881,806)	(4,868,236)	(3,332,535)
(Loss) Income from operations	(3,469,087)	(2,328,387)	430,785
Other (expense) income
Interest expense	(4,951,064)	(5,835,449)	(2,955,008)
Accretion interest	0	(285,625)	(320,497)
Impairment loss of property, plant and equipment	(4,695,912)	(49,784)	0
Gain on disposal of properties	0	8,614,079	0
Government subsidies	0	0	109,723
Change in fair value of derivative liability	(1,835,817)	1,536,494	(1,565,570)
Change in fair value of convertible debenture	(329,949)	367,663	(157,010)
Loss on disposal of subsidiaries	(368,608)	(163,405)	0
Loss on investment deposit	0	(336,892)	0
Other income	4,986	22,764	23,605
Total other (expense) income, net	(12,176,364)	3,869,845	(4,864,757)
(Loss) income before income taxes	(15,645,451)	1,541,458	(4,433,972)
(Provision) credit for income taxes - current	(960)	0	64,768
(Provision) credit for income taxes - deferred	(99,942)	(574,209)	797,096
Net (loss) income	(15,746,353)	967,249	(3,572,108)
Less: net income (loss) attributable to non-controlling interest	96,054	(55,707)	(97,596)
Net (loss) income attributable to Visionary Holdings Inc.	(15,842,407)	1,022,956	(3,474,512)
Other comprehensive (loss) income:
Foreign currency translation (loss) gain	(732,041)	457,057	(750,768)
Comprehensive (loss) income	(16,478,394)	1,424,306	(4,322,876)
Less: comprehensive income (loss) attributable to non-controlling interest	93,864	(54,419)	(113,451)
Comprehensive (loss) income attributable to Visionary Holdings Inc.	$ (16,572,258)	$ 1,478,725	$ (4,209,425)
(Loss) Earnings Per Share - Basic	$ (3.66)	$ 0.32	$ (1.35)
Weighted Average Shares Outstanding - Basic	4,333,514	3,229,524	2,579,304
(Loss) Earnings Per Share - Diluted	$ (3.66)	$ 0.32	$ (1.35)
Weighted Average Shares Outstanding - Diluted	4,333,514	3,241,900	2,579,304
Rent [Member]
Total Revenues	$ 2,796,853	$ 8,019,186	$ 7,090,140
Total cost of revenues	(2,191,587)	(6,325,094)	(3,899,012)
Tuition [Member]
Total Revenues	1,184,355	1,361,799	1,342,371
Total cost of revenues	(421,049)	(516,042)	(770,179)
Sales Of Products [Member]
Total Revenues	1,063,089	0	0
Total cost of revenues	$ (1,018,942)	$ 0	$ 0

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Mar. 31, 2025	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net (loss) income	$ (15,746,353)	$ 967,249	$ (3,572,108)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	2,091,321	2,409,762	1,361,211
Gain on disposal of property, plant and equipment	0	(8,614,079)	0
Amortization on finance fee on bank loan	53,768	332,333	173,180
Amortization of intangible assets	31,632	32,630	33,285
Change in fair value of warrant liability	1,835,817	(1,536,494)	1,565,570
Loss on disposal of subsidiaries	368,608	163,405	0
Change in fair value of convertible debenture	329,949	(367,663)	157,010
Stock based compensation	1,400,186	1,954,880	0
Deferred income tax recovery	99,941	574,209	(797,096)
Accretion cost	0	285,625	320,497
Impairment loss on property, plant and equipment	4,695,912	49,784	0
Changes in operating assets and liabilities:
Accounts receivable	(1,136,304)	69,019	(89,812)
Accounts receivable from related party	0	0	113,504
Prepayments and other current assets	(504,368)	(854,197)	(368,129)
Due from related party	(378,257)	115,095	99,334
Accounts payables	1,208,706	162,663	787,029
Accounts payables to related parties	1,143,462	0	0
Accrued liabilities	2,272,820	951,340	50,206
Other tax payable	358,378	(316,940)	(401,894)
Deferred revenue	(768,638)	(353,892)	849,778
Taxes payable	(324,964)	(128,405)	54,354
Net cash (used in) provided by operating activities	(2,968,384)	(4,103,676)	335,919
Cash flows from investing activities:
Purchase of property, plant and equipment	0	(1,310,842)	(62,701,573)
Proceeds from disposal of property, plant and equipment	15,052,633	13,925,765	0
Purchase additional shares from NCI	0	0	(75,650)
Loan advance to related parties	(307,848)	0	0
Proceeds from disposal of short term investment	0	51,912	0
Loan advance from unrelated parties	0	0	123,864
(Payment to) refund from acquisition deposits	(235,000)	411,479	(760,000)
Net cash provided by (used in) investing activities	14,509,785	13,078,314	(63,413,359)
Cash flows from financing activities:
Proceeds from bank loan	0	0	22,506
Proceeds From Mortgage Classified As Financing Activities	0	815,760	45,390,000
Finance costs on mortgage	0	(74,160)	(445,665)
Proceed from private mortgage	0	0	6,808,500
Repayment of other loan	(199,232)	(469,687)	(231,820)
Proceed (repayment) from issue of convertible notes	2,009,865	(1,500,000)	1,115,000
Proceeds from initial public offering, net of share issuance costs	0	0	14,380,467
Proceeds from share issuance	145,727	1,658,637	0
Proceeds from an employee loan	228,742	324,079	0
Repayment of mortgage principal	(13,658,861)	(6,057,252)	(721,261)
Proceeds (repayment) of shareholder advance	167,575	(4,175,967)	(2,446,085)
Net cash (used in) provided by financing activities	(11,306,184)	(9,478,590)	63,871,642
Effect of exchange rate changes on cash	(436,454)	(14,585)	(312,010)
Net (decrease) increase in cash	(201,237)	(518,537)	482,192
Cash and restricted cash, beginning of the year	773,344	1,291,881	809,689
Cash and restricted cash, end of the year	572,107	773,344	1,291,881
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for income tax	0	128,405	28,753
Cash paid for interest	4,951,064	5,835,450	2,538,486
NON-CASH ITEMS
Disposal of subsidiaries	$ 0	$ 74,160	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2025	Mar. 31, 2024
CURRENT ASSETS
Cash	$ 334,910	$ 620,910
Accounts receivable, net	1,098,921	20,472
Prepaid and other receivable	1,967,062	1,375,957
Due from related parties	433,507	76,888
Total current assets	3,834,400	2,094,227
Restricted cash – non-current	237,197	152,434
Property, plant and equipment, net	57,576,110	83,581,322
Right of use assets	0	41,783
Intangible assets, net	848,559	933,642
Long-term investment	235,000	0
Deferred tax assets	0	105,334
Goodwill	895,467	950,959
TOTAL ASSETS	63,626,733	87,859,701
CURRENT LIABILITIES
Accounts payable	1,791,464	1,187,480
Accounts payable to related parties	1,086,445	0
Accrued liabilities and other payable	4,176,810	2,253,851
Other tax payable	922,888	616,358
Due to related parties	503,126	326,640
Deferred revenue	181,839	968,676
Lease liability - current	0	15,931
Bank loans - current	45,596,789	62,423,441
Other loan payable- current	508,621	488,692
Convertible notes	2,053,933	0
Derivative liability - current	285,881	0
Income tax payable	1,202,933	1,399,244
Total current liabilities	58,310,729	69,680,313
Deferred tax liabilities	120,658	126,051
Lease liability, non-current	0	25,852
Other loan payable, non-current	0	252,476
Derivative liability, non-current	0	29,075
TOTAL LIABILITIES	58,431,387	70,113,767
Commitments and contingencies	0	0
EQUITY
Common shares, no par value, unlimited shares authorized, 5,607,348 and 3,437,926 issued and outstanding as of March 31, 2025 and 2024, respectively	0	0
Additional paid-in capital	21,647,561	17,719,755
Accumulated (deficit) retained earnings	(15,706,216)	136,191
Accumulated other comprehensive loss	(823,818)	(93,967)
Total shareholders' equity attributable to the Company	5,117,527	17,761,979
Non-controlling interest	77,819	(16,045)
Total shareholders' equity	5,195,346	17,745,934
TOTAL LIABILITIES AND EQUITY	$ 63,626,733	$ 87,859,701