$PMA

PMA Graphene Technology Group Inc.

CIK:0001956166|SEC Filings

Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Income Statement [Abstract]
Revenue	$ 14,628,290	$ 33,851,041	$ 27,572,692
Cost of revenue	(17,318,493)	(35,157,150)	(22,479,613)
Gross (loss) profit	(2,690,203)	(1,306,109)	5,093,079
Operating expenses
General and administrative expenses (Note 11)	(2,782,357)	(4,048,726)	(1,846,753)
Total operating expenses	(2,782,357)	(4,048,726)	(1,846,753)
(Loss) Income from operations	(5,472,560)	(5,354,835)	3,246,326
Other income (expense)
Interest expense, net	(346,696)	(508,810)	(286,090)
Other income	69,346	52,740	15,297
Total other (expense) income, net	(277,350)	(456,070)	(270,793)
(Loss) income before tax expense	(5,749,910)	(5,810,905)	2,975,533
Income tax (expense) benefit (Note 12)	(13,835)	80,154	(648,936)
Net (loss) income and total comprehensive (loss) income	$ (5,763,745)	$ (5,730,751)	$ 2,326,597
Net (loss) income per share attributable to ordinary shareholders
Basic	$ (0.44)	$ (0.48)	$ 0.21
Diluted	$ (0.44)	$ (0.48)	$ 0.21
Weighted average number of ordinary shares used in computing net income per share
Basic	12,975,000	11,849,178	11,250,000
Diluted	12,975,000	11,849,178	11,250,000

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Operating activities:
Net (loss) income	$ (5,763,745)	$ (5,730,751)	$ 2,326,597
Adjustments:
Depreciation on property and equipment	77,199	82,425	26,214
Amortization of right-of-use assets – finance lease	63,767	68,098	79,521
Gain on disposal of right-of-use assets – finance lease			(3,686)
Gain on disposal of a motor vehicle		(2,003)
Change in cash value of life insurance policy	(6,339)	(6,333)	(5,140)
Expected credit loss allowance	1,130,467	836,720	30,075
Deferred income tax benefit	(197,270)	(80,154)	(183)
Previously deferred IPO cost that expensed in the year			370,957
Change in working capital items:
Change in accounts receivable	1,906,151	(2,862,829)	1,724,503
Change in contract assets	5,599,106	(652,491)	(3,692,174)
Change in deposits, prepayments and other assets	415,254	(465,131)	17,856
Change in accounts payable	(2,916,568)	798,799	1,282,131
Change in income tax payable	513,739	(231,225)	247,080
Change in accrued expenses and other current liabilities	(38,625)	275,679	53,438
Cash provided (used in) by operating activities	783,136	(7,969,196)	2,457,189
Investing activities:
Purchase of property and equipment			(1,147,262)
Sales proceeds from disposal of a motor vehicle		10,256
Cash provided by (used in) investing activities		10,256	(1,147,262)
Financing activities:
Proceeds from new bank and other borrowings	12,074,745	16,501,786	23,383,104
Repayment of bank and other borrowings	(12,624,840)	(15,727,101)	(21,852,990)
Principal payments for lease liabilities	(66,150)	(67,372)	(119,465)
Advances from a related party	1,230,990		1,058,733
Repayments to a related party		(1,108,692)	(2,730,449)
Issuance of shares		9,493,125
Payment for offering cost		(1,963,397)	(292,304)
Cash provided by (used in) financing activities	614,745	7,128,349	(553,371)
Net increase (decrease) in cash and cash equivalents	1,397,881	(830,591)	756,556
Cash and cash equivalents as of beginning of the year	249,923	1,080,514	323,958
Cash and cash equivalents as of the end of the year	1,647,804	249,923	1,080,514
Supplementary Cash Flows Information
Cash paid for income tax		231,225	402,038
Cash paid for interest	346,696	508,810	286,090
Supplemental of Non-Cash Investing and Financing Activities
Proceeds from disposal of Right-of-use assets – finance lease received by a director on behalf of the Company			51,282
Dividend declared and offset against due from major shareholder		$ 1,108,692	$ 1,711,225

Consolidated Balance Sheets - USD ($)	Mar. 31, 2026	Mar. 31, 2025
Current assets
Cash and cash equivalents	$ 1,647,804	$ 249,923
Accounts receivable, net (Note 3)	834,583	4,222,982
Contract assets (Note 4)	1,691,118	5,304,061
Deposits, prepayments and other assets (Note 5)	61,685	483,864
Total current assets	4,235,190	10,260,830
Non-current assets
Property and equipment, net (Note 6)	1,055,223	1,132,422
Finance lease right-of-use assets, net (Note 7)	84,200	147,967
Operating lease right-of-use assets, net (Note 7)	40,880
Life insurance policy, cash surrender value (Note 2)	173,563	167,224
Contract assets (Note 4)		1,636,414
Deferred tax assets (Note 12)	276,696	79,426
Deposits, prepayments and other assets (Note 5)	8,957
Total non-current assets	1,639,519	3,163,453
Total assets	5,874,709	13,424,283
Current liabilities
Accounts payable (Note 8)	1,048,408	3,964,976
Bank and other borrowings (Note 10)	2,415,763	4,761,434
Finance lease liabilities, current portion (Note 7)	48,345	66,150
Operating lease liabilities, current portion (Note 7)	34,892
Accrued expenses and other current liabilities (Note 9)	373,845	412,470
Income tax payable	835,184	321,445
Total current liabilities	5,987,427	9,526,475
Non-current liabilities
Bank and other borrowings (Note 10)	4,661,060	2,865,484
Finance lease liabilities, net of current portion (Note 7)		48,345
Operating lease liabilities, net of current portion (Note 7)	5,988
Total non-current liabilities	4,667,048	2,913,829
Total liabilities	10,654,475	12,440,304
Shareholders’ (deficit) equity
Ordinary shares, 100,000,000 shares authorized; USD0.0005 par value, 12,975,000 shares issued and outstanding, as of March 31, 2026 and 2025 (Note 17)	6,488	6,488
Additional paid in capital	6,819,954	6,819,954
Accumulated deficit	(11,606,208)	(5,842,463)
Total shareholders’ (deficit) equity	(4,779,766)	983,979
Total liabilities and shareholders’ (deficit) equity	5,874,709	13,424,283
Related Party [Member]
Current liabilities
Amount due to a related party (Note 14)	$ 1,230,990