PROPERTY AND EQUIPMENT

12 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

NOTE 3 - PROPERTY AND EQUIPMENT

Fixed assets consisted of the following at:

		March 31, 2022			March 31, 2021
Machinery and Equipment	$	4,766,303		$	4,812,344
Office Equipment		55,439			55,439
Less: Accumulated Depreciation		(3,620,945	)		(3,857,600	)
Fixed Assets, net	$	1,200,797		$	1,010,183

Depreciation expense for the years ended March 31, 2022 and March 31, 2021 was $801,395 and $997,791 (of which $792,268 was part of cost of goods sold and $9,127 was part of general and administrative expenses), respectively.

The Company records all property and equipment at cost less accumulated depreciation. Depreciation is calculated using the straight-line (half-life convention) method over the estimated useful life of the assets (which the Company estimates to be three years). The Company determined that certain of its machinery and equipment was no longer in service as of March 31, 2022, thus machinery and equipment was reduced by approximately $1 million with a corresponding reduction in accumulated depreciation.