NOTE 9. LEASES

9 Months Ended

Dec. 31, 2022

Notes

NOTE 9. LEASES

NOTE 9. LEASES

We conduct our operations in a leased facility under a non-cancellable lease expiring March 31, 2026. Our lease does not provide an implicit rate, so we used our incremental borrowing rate to determine the present value of lease payments. Lease expense is recognized on a straight-line basis over the lease term. Variable lease costs consist primarily of common area maintenance and real estate taxes which are paid based on actual costs incurred by the lessor. Details of our operating lease are as follows:

	Quarter Ended December 31, 2022			Nine Months Ended December 31, 2022
Operating lease cost	$	4,419		$	89,450
Variable lease cost		33,460			94,775
Total	$	37,879		$	184,225
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for leases	$	43,578			130,735
Remaining lease term	39 months
Discount rate		3.5	%

The following table presents the maturities of lease liabilities as of December 31, 2022:

As of December 31, 2022	Operating Leases
Fiscal 2023		44,433
Fiscal 2024		178,640
Fiscal 2025		182,271
Fiscal 2026		184,995
Total lease payments		590,339
Imputed lease interest		(31,765	)
Total lease liabilities	$	558,574