Segment Information

12 Months Ended

Mar. 31, 2026

Segment Information [Abstract]

Segment information

Note 25 — Segment information 

The Company presents segment information on a basis consistent with the internal financial information reviewed by the Chief Operating Decision Maker (“CODM”), which includes intersegment revenues and related expenses. Intersegment amounts are eliminated in consolidation. Intersegment revenues and related expenses are recorded at negotiated transfer prices that include a markup and are eliminated in consolidation. In general, revenue, cost of revenue and operating expenses are directly attributable to, or allocated to, each segment.

The Company’s Chief Executive Officer serves as the CODM. The CODM evaluates the performance of reportable segments and allocates resources primarily based on segment profit (loss). Segment profit (loss) represents segment revenue less directly attributable and allocated cost of revenue and operating expenses. Segment profit (loss) is the sole measure used by the CODM and is determined in a manner consistent with the measurement principles used in preparing the consolidated financial statements in accordance with ASC 280-10-50-28A. The CODM does not evaluate the performance of segments using asset information. As such, the Company does not allocate assets to its reportable segments.

Segment profit (loss) excludes certain corporate-level expenses and non-operating items that are not allocated to the reportable segments. These items primarily include professional fees, corporate salary expenses, debt issuance costs, interest expense, changes in fair value of financial instruments, and other corporate expenses managed on a consolidated basis. Such amounts are presented as reconciling items to consolidated income (loss) before income taxes. As a result, consolidated income (loss) before income taxes includes these unallocated corporate-level and non-operating items that are excluded from segment profit (loss), which gives rise to the difference between total segment profit (loss) and consolidated income (loss) before income taxes.

The CODM uses segment profit (loss) in the annual budgeting and forecasting process to allocate capital, marketing expenditures, and personnel resources among the console game, hardware, and accessories, game publishing, and advertising service segments. The CODM reviews segment profit (loss) on a regular basis, including comparisons of budgeted results to actual results, to evaluate margin performance, cost efficiency, and profitability trends within each segment. Segment profit (loss) is also used to compare the relative operating performance of the reportable segments in making decisions regarding expansion initiatives, product strategy, sales focus, and operational investments.

The Company has identified its operating segments based on the internal financial information reviewed by the CODM to assess performance and allocate resources. The Company’s operating segments are organized primarily based on the nature of products sold and services provided. Based on the aggregation criteria in ASC 280, the Company has determined that it has three reportable segments: console game, hardware, and accessories, game publishing, and media advertising service.

● Console game, hardware, and accessories – primarily engaged in the distribution and sale of console video games, gaming hardware, and related accessories and IT hardware and computer accessories.

● Game publishing – primarily engaged in publishing, marketing, and distributing video games under publishing arrangements.

● Advertising service – primarily engaged in providing digital advertising and marketing services.

The following tables present financial information for each reportable segment for the years ended March 31, 2026, 2025, and 2024 :

	For the Year Ended March 31, 2026
	Console game, hardware, and accessories			Game Publishing			Advertising Service			Total
Revenues from external customers	$	228,776,065		$	7,146,373		$	1,508,407		$	237,430,845
Revenues, a related party		114,094			-			4,655			118,749
Intersegment revenue		381,400			1,523,690			-			1,905,090
Total segment revenue		229,271,559			8,670,063			1,513,062			239,454,684
Reconciliation of revenue
Other revenue (a)											1,374,495
Elimination of intersegment revenues											(1,905,090	)
Total consolidated revenues										$	238,924,089
Less:
Cost of revenue		209,884,697			5,041,422			869,320
Advertising and marketing expenses		1,797,975			1,554,573			446,312
Amortization and depreciation		1,685,127			1,952			10,302
Provision for credit loss		888,599			339,214			13,310
Professional fee		2,162,300			1,028,376			8,569
R&D Expense		41,338			-			-
Rent		1,237,336			27,784			195,348
Salary expenses		11,518,294			1,680,194			614,099
Interest expenses		1,987,061			148,909			6,955
Other segments items (b)		2,284,422			331,587			(80,782	)
Segment loss		(4,215,590	)		(1,483,948	)		(570,371	)	$	(6,269,909	)
Reconciliation of segment loss
Add: Other profit (a)											175,468
Less: Elimination of intersegment profit											(11,360	)
Less: Unallocated amounts
Other operating expenses											827,986
Advertising and marketing expenses											268,047
Amortization and depreciation											15,338
Professional fee											4,981,926
Salary expenses											1,428,087
Other expense, net											176,255
Debt issuance costs											379,242
Change in fair value of convertible notes and derivative liabilities											1,188,928
Change in fair value of contingent consideration for acquisition											10,614,578
Loss before income taxes										$	(25,963,468	)

	For the Year Ended March 31, 2025
	Console game, hardware, and accessories			Game Publishing			Advertising Service			Total
Revenues from external customers	$	122,018,643		$	16,029,524		$	1,973,858		$	140,022,025
Revenues, a related party		1,244,899			-			264,506			1,509,405
Intersegment revenue		-			7,727,708			-			7,727,708
Total segment revenue		123,263,542			23,757,232			2,238,364			149,259,138
Reconciliation of revenue
Other revenue (a)											541,156
Elimination of intersegment revenues											(7,727,708	)
Total consolidated revenues										$	142,072,586
Less:
Cost of revenue		115,884,467			11,110,156			956,391
Advertising and marketing expenses		1,091,784			629,239			412,225
Amortization and depreciation		2,303,694			-			33,397
Provision for (recovery from) credit loss		70,076			(205,580	)		(60,199	)
Professional fee		713,369			11,366			70,834
R&D Expense		209,746			-			-
Rent		680,867			-			232,918
Salary expenses		4,270,308			1,344,110			913,349
Interest expenses		644,003			14,822			6,359
Other segments items (b)		1,422,352			177,328			(113,400	)
Segment profit (loss)		(4,027,124	)		10,675,791			(213,510	)	$	6,435,157
Reconciliation of segment profit or loss
Add: Other profit (a)											26,835
Less: Elimination of intersegment profit											431,341
Less: Unallocated amounts
Other operating expenses											68,835
Professional fee											2,383,796
Salary expenses											112,603
Other expense, net											26,566
Debt issuance costs											1,590,750
Change in fair value of convertible notes and derivative liabilities											(4,875,420	)
Change in fair value of contingent consideration for acquisition											545,428
Income (loss) before income taxes										$	6,178,093

	For the Year Ended March 31, 2024
	Console game, hardware, and accessories			Game Publishing			Advertising Service			Total
Revenues from external customers	$	90,976,328		$	3,431,678		$	2,716,090		$	97,124,096
Revenues, a related party		42,477			-			-			42,477
Intersegment revenue		9,868			1,015,194			-			1,025,062
Total segment revenue		91,028,673			4,446,872			2,716,090			98,191,635
Reconciliation of revenue
Other revenue (a)											368,128
Elimination of intersegment revenues											(1,025,062	)
Total consolidated revenues										$	97,534,701
Less:
Cost of revenues		80,804,637			2,736,076			1,389,562
Advertising and marketing expenses		594,729			768,414			139,762
Amortization and depreciation		2,161,956			-			202,348
Provision for (recovery from) credit loss		165,315			234,075			84,858
Professional fee		791,998			35,372			35,190
R&D Expense		250,922			-			-
Rent		612,945			-			199,150
Salary expenses		3,458,457			765,423			1,183,987
Interest expenses		507,803			-			-
Other segments items (b)		(408,726	)		128,312			121,649
Segment profit (loss)		2,088,637			(220,800	)		(640,416	)	$	1,227,421
Reconciliation of segment profit or loss
Less: Other loss (a)											192,545
Less: Elimination of intersegment profit											175,361
Less: Unallocated amounts
Other operating expenses											48,252
Professional fee											1,095,390
Salary expenses											1,329,679
Other expense, net											21,830
Change in fair value of contingent consideration for acquisition											272,029
Income (loss) before income taxes										$	(1,907,665	)

(a) Revenue and profit or loss from segments below the quantitative thresholds are attributable to an operating segment of the Company that includes the distribution of jewelry products. This operating segment has not met any of the quantitative thresholds for determining reportable segments.

(b) Other segment items for each reportable segment include:   Console Game, hardware, and accessories - office, entertainment, travel, non-operating income from advertising compensation from vendors, foreign currencies gain or loss and other miscellaneous expenses   Game publishing - office, entertainment, travel, foreign currencies gain or loss, and other miscellaneous expenses   Advertising service - office, entertainment, travel, foreign currencies gain or loss, and other miscellaneous expenses

Disaggregated information of revenues by regions are as follows:

	For the year ended		For the year ended		For the year ended
	March 31,		March 31,		March 31,
	2026		2025		2024
Singapore	$	153,636,809	$	71,202,860	$	58,145,593
Hong Kong		59,230,088		53,720,233		32,696,502
China		2,232,545		12,626,821		-
Malaysia		14,664,763		4,522,672		6,692,606
Thailand		8,645,480		-		-
Other		514,404		-		-
Total revenue	$	238,924,089	$	142,072,586	$	97,534,701

The following table presents long-lived assets by geographic area, which includes property and equipment, net operating leases right-of-use assets, and finance leases right-of-use assets:

	As of		As of
	March 31,		March 31,
	2026		2025
Singapore	$	4,790,882	$	954,399
Hong Kong		62,748		19,118
Malaysia		324,337		151,171
Brazil		283,656		-
Taiwan		205,990		-
Others		42,495		61,011
Total long-lived assets	$	5,710,108	$	1,185,699