NOTE 8. LEASES

12 Months Ended

Mar. 31, 2024

Notes

NOTE 8. LEASES

NOTE 8. LEASES

We conduct our operations in a leased facility under a non-cancellable lease expiring March 31, 2026. We have an option to extend the lease for an additional five years at the market rent subject to certain terms and conditions.

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. Details of our operating lease are as follows:

	Year Ended March 31,
	2024			2023
Operating lease cost	$	151,014				$		151,014
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for leases	$	178,640			$		75,168
Remaining lease term (years)		2			3
Discount rate		3.5	%		3.5				%

The following table presents the maturities of lease liabilities as of March 31, 2024:

Year Ending March 31,	Operating Lease Liabilities
2025		182,271
2026		184,995
Total lease payments		367,266
Imputed lease interest		(12,119	)
Total lease liabilities	$	355,147