amounting to US$183,981; (iv) our new subsidiary, Mental Form (HK) Limited (“MFHK”) incurred exhibition expenses of US$330,123 as part of our marketing and promotional initiatives; and (v) an increase of travel and entertainment expenses amounting to US$355,631 for travelling costs and establishing potential customer network with business development.

filing / Jul 31, 2026 / receipt

Occupancy costs - Occupancy costs decreased by 11.7% from US$169,866 for the year ended March 31, 2025 to US$149,913 for the year ended March 31, 2026, primarily due to the absence of a short term rent paid before we relocated to new office for the year ended March 31, 2025.

filing / Jul 31, 2026 / receipt

Depreciation - Depreciation expenses increased by 523.7% from US$9,421 for the year ended March 31, 2024 to US$58,762 for the year ended March 31, 2025 due to additions of property and equipment related to the relocation to our new office.

filing / Jul 31, 2026 / receipt

This increase was primarily due to the increase in referral commission in line with our revenue growth, as well as increased personnel costs incurred with headcount expansion and annual salary adjustments during the year ended March 31, 2025.

filing / Jul 31, 2026 / receipt

Our principal executive office is located at 30 th Floor, China Insurance Group Building, 141 Des Voeux Road Central, Hong Kong, where I Win Holdings Limited, leased the office space from March 1, 2024 for terms of three years.

filing / Jul 31, 2026 / receipt