Income Taxes

6 Months Ended

Sep. 30, 2024

Income Taxes [Abstract]

INCOME TAXES

Note 6 INCOME TAXES:

The effective income tax rate for the three months ended September 30, 2024 and 2023 was a provision of 0% on income before provision for income taxes of $246,443 and a loss before income taxes of $1,100,603, respectively. The effective income tax rate for the six months ended September 30, 2024 and 2023 was a provision of 0% on income before provision for income taxes of $639,230 and a loss before income taxes of $2,416,505. The provision for income taxes of $0 for the three and six months ended September 30, 2024 was principally attributable to the utilization of net operating loss carryforwards to offset taxable income and the impact of maintaining a full valuation allowance on the Company’s deferred tax assets, net. The provision for income taxes of $0 for the three and six months ended September 30, 2023 was attributable to the loss before provision for income taxes incurred for the period and the impact of recording a full valuation allowance on the Company’s deferred tax assets, net.