REVENUE

9 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

REVENUE

NOTE 5 – REVENUE

The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Live event revenue primarily includes ticket and beverage sales before and during the live events. Sponsorship revenue is also recognized when the live event takes place. Any revenue received for events that have yet to take place are recorded in deferred revenue. Gym revenue comprises primarily of membership dues and subscription. Other gym revenue includes personal training, group fitness and meal planning.

Information about the Company’s net sales by revenue type for the three and nine months ended December 31, 2022 and 2021 are as follows: 

	For the three months ended
	December 31,		December 31,
		2022 (Unaudited)		2021 (Unaudited)
Live events	$	77,847	$	263,782

	For the nine months ended
	December 31,		December 31,
	2022 (Unaudited)		2021 (Unaudited)
Live events	$	576,138	$	782,544

All revenue is derived in the United States.

Information about the Company’s deferred revenue for the nine months ended December 31, 2022 and 2021 are as follows: 

	As of
	December 31,			December 31,
	2022			2021
Balance at beginning of fiscal year	$	104,704		$	119,504
Deferral of revenue		559,775			711,281
Recognition of unearned revenue		(656,321	)		(766,049	)
Balance at December 31	$	8,158		$	64,736

Deferred revenue for the periods ended December 31, 2022 and March 31, 2022 was $8,158 and $104,704, respectively. This deferred revenue represents deferred gym memberships fees and tickets pre-sold for live events, which pertain to performance obligations not realized as of December 31, 2022 and March 31, 2022.

Revenue recognized for the nine months ended December 31, 2022 and 2021, which was included in the unearned revenue liability balance at the beginning of the year, was $656,321 and $766,049, respectively. This revenue represents gym membership fees and live event sales for performance obligations met in the nine months ended December 31, 2022 and 2021.