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v3.25.1

PROPERTY, PLANT AND EQUIPMENT | 12 Months Ended
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Mar. 31, 2024
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT | NOTE 7 – PROPERTY, PLANT AND EQUIPMENT Property and equipment consisted of the following at March 31, 2024, March 31, 2023, and March 31, 2022:
|  | March 31, 2024 |  |  | March 31, 2023 |  |  | March 31, 2022 |
Leasehold Improvements |  | $ | 257,009 |  |  | $ | 257,009 |  |  | $ | 257,009 |
Building and Improvements |  |  | 29,143,445 |  |  |  | 28,623,329 |  |  |  | — |
Furniture and Fixtures |  |  | 439,990 |  |  |  | 384,650 |  |  |  | 343,014 |
Vehicles |  |  | 153,254 |  |  |  | 153,254 |  |  |  | 153,254 |
Equipment |  |  | 45,467,137 |  |  |  | 40,233,186 |  |  |  | 32,524,850 |
Tooling |  |  | 143,710 |  |  |  | 143,710 |  |  |  | 143,710 |
Construction in Progress |  |  | 2,785,616 |  |  |  | 734,781 |  |  |  | 14,335,371 |
Total property and equipment |  | $ | 78,390,161 |  |  | $ | 70,529,919 |  |  | $ | 47,757,208 |
Less accumulated depreciation |  |  | (20,308,121 | ) |  |  | (14,566,664 | ) |  |  | (10,119,402 | )
Net property and equipment |  | $ | 58,082,040 |  |  | $ | 55,963,255 |  |  | $ | 37,637,806 |
Depreciation expense for the years ended March 31, 2024, 2023, and 2022 totaled $5,751,023, $4,452,908, and $4,266,126, respectively. Of these totals $4,777,642, $3,747,723, and $3,101,929 were included in cost of revenues for the years ending March 31, 2024, 2023, and 2022. Additionally, $973,381, $705,185, and $1,164,197, respectively were included in depreciation and amortization expenses in operating expenses.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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