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LEASES | 6 Months Ended
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Sep. 30, 2022
Leases [Abstract] |
Leases | LEASES The Company determines whether a contract contains a lease at inception of the contract and whether that lease meets the classification criteria of a finance or operating lease. When readily determinable, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of the Company’s leases do not provide a readily determinable implicit rate. Therefore, the Company must discount lease payments based on an estimate of its incremental borrowing rate. The table below presents the lease related assets and liabilities recorded on the Company’s Condensed Consolidated Balance Sheets as of September 30, 2022:
| Classification on Balance Sheet |  | September 30, 2022
Assets |  |  |
Operating lease assets | Right-of-use assets |  | $ | 13,602 |
Total lease assets |  |  | $ | 13,602 |
Liabilities |  |  |
Operating lease liability | Lease liability |  | $ | 13,348 |
Total lease liability |  |  | $ | 13,348 |
The following table presents as of September 30, 2022, the annual maturities of the lease liabilities:
Twelve months ending March 31, |  |
2023 |  | $ | 2,505
2024 |  | 3,555 |
2025 |  | 2,922 |
2026 |  | 2,409 |
2027 |  | 1,681 |
Thereafter |  | 3,607 |
Total payments |  | 16,679 |
Less: amounts representing interest |  | 3,331 |
Lease liability, net |  | $ | 13,348 |
Weighted average remaining lease term (in months) |  | 23
Weighted average discount rate |  | 12 | %
Lease commitments for short term operating leases as of September 30, 2022, was approximately $296. The Company’s lease expense for office sp ace was $573 and $1,116 for the three and six months ended September 30, 2022, and $398 and $550 September 30, 2021, respectively.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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