NOTE 10. LEASES

9 Months Ended

Dec. 31, 2024

Notes

NOTE 10. LEASES

NOTE 10. LEASES

We conduct our operations in a leased facility under a non-cancellable lease expiring May 31, 2031. Effective November 4, 2024 we executed an Amendment extending our lease, which would have expired March 31, 2026 without the Amendment. Liabilities under the lease Amendment are included in the lease-liabilities table below. For further details on obligations under our lease as amended, refer to our Form 8-K/A filed on November 7, 2024 and referenced in Item 6 of this Report.

Our lease does not provide an implicit interest 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:

	Quarter Ended December 31,				Nine Months Ended December 31,
	2024			2023	2024			2023
Operating lease cost	$	44,727		37,754	$	120,235		113,261
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for leases	$	45,341		44,433	$	136,023		133,299
Right-of-use assets obtained in exchange for new lease liabilities
Operating lease	$	710,665		-		-		-
Remaining lease term		78 months				78 months
Discount rate		7.8	%			7.8	%

The following table shows the maturities of lease liabilities as of December 31, 2024:

Year Ending March 31,	Operating Lease Liabilities
2025		46,249
2026		84,995
2027		172,142
2028		213,284
2029		220,216
2030		227,373
2031		234,762
2032		40,399
Total lease payments		1,239,420
Imputed lease interest		(289,616	)
Total lease liabilities	$	949,804