LEASES

12 Months Ended

Mar. 31, 2024

Leases [Abstract]

LEASES

NOTE 10 – LEASES

The Company has two operating leases for its office space.

Operating lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The discount rate used to calculate present value is incremental borrowing rate or, if available, the rate implicit in the lease. The Company determines the incremental borrowing rate for each lease based primarily on its lease term in PRC which is approximately 4.75%.

Operating lease expenses were $132,517 and $nil for the years ended March 31, 2024 and 2023, respectively.

The components of lease expense and supplemental cash flow information related to leases for the period are as follows:

	Years ended March 31,
	2024			2023
Lease cost
Operating lease cost	$	132,517		$	-
Other Information
Cash paid for amounts included in the measurement of lease liabilities	$	356,441		$	-
Weighted average remaining lease term – operating leases (in years)		1.75			-
Average discount rate – operating lease		4.75	%		-	%

The supplemental balance sheet information related to leases is as follows:

	March 31, 2024		March 31, 2023
Operating leases
Right-of-use assets	$	539,946	$	-
Operating lease liabilities	$	314,775	$	-

The undiscounted future minimum lease payment schedule as follows:

For the year ending March 31,
2025	-
2026	326,168
Thereafter	-
Total undiscounted lease payments	326,168
Less: interest	(11,393	)
Total lease liabilities	314,775