Right of Use Assets and Operating Lease Liabilities

6 Months Ended

Sep. 30, 2024

Right of Use Assets and Operating Lease Liabilities [Abstract]

RIGHT OF USE ASSETS AND OPERATING LEASE LIABILITIES

Note 8 – RIGHT OF USE ASSETS AND OPERATING LEASE LIABILITIES

The Company’s operating leases primarily include leases for office space. The current portion of operating lease liabilities and the non-current portion of operating lease liabilities are presented on the consolidated balance sheets. For operating lease with a term of one year or less, the Company has elected to not recognize a lease liability or lease right of use asset on its consolidated balance sheets. Instead, it recognizes the lease payment as expense on a straight-line basis over the lease term. As of September 30 2024, and March 31, 2024, the following tables shows ROU assets and lease liabilities, and the associated financial statement line items:

	As of September 30, 2024		As of March 31, 2024
Assets
Right of use assets	$	122,800	$	—
Liabilities
Operating lease liabilities-current	$	40,775	$	—
Operating lease liabilities-non-current	$	63,965	$	—
Weighted average remaining lease term (in years)		2.99		—
Weighted average discount rate (%)		3.35		—

Information related to operating lease activities for the years ended September 30, 2024 and 2023 are as follows:

	For Six Months Ended September 30,
	2024		2023
Operating lease expense
Amortization of right of use assets		3,419		—
Interest of lease liabilities		343		—
Total		3,762		—

Maturities of operating lease liabilities were as follows:

Twelve months ending September 30,	Lease liabilities
2025	$	43,844
2026		43,844
2027		21,922
Total lease payments		109,610
Less: imputed interest		4,870
Total	$	104,740