Paranovus Entertainment Technology Ltd.
For the period ended Sep 30, 2025. Filed Dec 5, 2025.
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Sep 30, 2025 · Filed Dec 5, 2025
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Contents
EX-99.1 · Operating lease commitments
Operating lease commitments
The Company’s maturity analysis of operating lease liabilities as of September 30, 2025 is as follows:
| Operating lease payment | As ofSeptember 30,2025 |
|---|---|
| Within one year | $168,002 |
| One to three years | 182,002 |
| Total future minimum lease payments | 350,004 |
| Less: imputed interest | (18,268) |
| Present value of operating lease liabilities | 331,736 |
| (b) | The weighted average remaining lease terms and discount rates for the operating lease as of September 30, 2025 are as follows: |
|---|
| As ofSeptember 30, | |
|---|---|
| Remaining lease term and discount rate: | |
| Weighted average remaining lease term (years) | 2.00 |
| Weighted average discount rate | 5.50% |
NOTE 8 – RELATED PARTY TRANSACTIONS AND BALANCES
| a. | Nature of relationships with related parties |
|---|
| Name of related parties | Relationship with the Company |
|---|---|
| Minzhu Xu | Chairperson of the Board |
| Shunqi Du | Legal representative of Paranovus Hainan |
| Shuang Wu | Former CEO of Bomie Wookoo Inc. |
| Jue Wang | Shareholder of Bomie Wookoo Inc. |
| b. | Dues to the related parties |
|---|
| As ofSeptember 30, | As ofMarch 31, | |
|---|---|---|
| Due to the related parties | 2025 | 2025 |
| Minzhu Xu | 2,402,678 | 1,777,512 |
| Shunqi Du | 82,892 | 70,646 |
| Shuang Wu | 98,469 | 98,469 |
| Total | $2,584,039 | $1,946,627 |
Balances due to Shunqi Du and Shuang Wu are the result of the normal business transactions stated above. The balances were all unsecured, non-interest bearing and payable on demand.
Balances due to Minzhu Xu are the result of promissory notes payable and related interest payable with an 8% annual interst rate. The proceeds from the Note Offering will be used to for the general working capital purposes of the Company.
| c. | Dues from a related party |
|---|
| As ofSeptember 30, · As ofMarch 31, | |||
|---|---|---|---|
| Due from a related party · 2025 · 2025 | |||
| Jue Wang | 291,000 | - | |
| Total | $291,000 | $ | - |
NOTE9 – OTHER PAYABLES AND ACCRUED LIABILITIES
Other payables and accrued liabilities consisted of the following as of September 30, 2025 and March 31, 2025:
| As of September 30, · As of March 31, | |||
|---|---|---|---|
| 2025 · 2025 | |||
| Advances from customers | $ | - | $73,321 |
| Loan payable to the third parties | 2,748,225 | 2,250,000 | |
| Interest payables | 322,234 | 218,630 | |
| Deposit | 50,000 | 50,000 | |
| Others | - | 29,612 | |
| Total | $3,120,459 | $2,621,563 | |
NOTE10 – SHARE BASED COMPENSATION
2020 Equity incentive plan
In February 2022, the Company adopted the 2020 Equity incentive plan which allows the Company to offer incentive awards to employee, directors and consultants (collectively, “the Participants”). Under the 2020 Equity incentive plan, the Company may issue incentive awards to the Participants to purchase no more than 3,500,000 ordinary shares with no restrictive legend affixed.
Share-based compensation expense of $20,833 was immediately recognized in general and administrative expenses for the six months ended September 30, 2025 with no vesting conditions. No share-based compensation expense was recognized in general and administrative expenses for the six months ended September 30, 2024.
NOTE 11 – SHAREHOLDERS’ EQUITY
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