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INTANGIBLE ASSETS | 12 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | NOTE 14 – INTANGIBLE ASSETS On April 30, 2021, we entered into an agreement and plan of merger (the “Merger Agreement”), by and among the Company, SpeedLight Group I, LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company and Gemini Direct Investments, LLC, a Nevada limited liability company ("Gemini"), whereby SpeedLight Group I, LLC merged with and into Gemini, with SpeedLight Group I, LLC surviving the merger as a wholly owned subsidiary of the Company (the "Merger"). At the time of the Merger, Gemini had nine subsidiaries, all of which are related to Gemini’s ownership of GunBroker, an online auction marketplace dedicated to firearms, hunting, shooting, and related products. The intangible assets acquired include a tradename, customer relationships, intellectual property, software, and domain names. Total amortization expense of our intangible assets wa s $12,121,433, $12,167,266 and $12,700,436 for the years e nded March 31, 2025, 2024, and 2023, respectively. During the year ended March 31, 2024, we disposed of an intangible asset resulting in a loss of $108,333, which is reflected in other (expense) income on the consolidated statement of operations. Other intangible assets consisted of the following:
|  |  |  | As of March 31, |
|  | Life |  | 2025 |  |  | 2024 |
Tradename |  | 15 |  | $ | 76,532,389 |  |  | $ | 76,532,389 |
Customer List |  | 10 |  |  | 65,252,802 |  |  |  | 65,252,802 |
Intellectual Property |  | 10 |  |  | 4,224,442 |  |  |  | 4,224,442 |
Other Intangible Assets |  | 5 |  |  | 357,747 |  |  |  | 357,747 |
Gross Intangibles Assets |  |  |  |  | 146,367,380 |  |  |  | 146,367,380 |
Accumulated amortization – Intangible Assets |  |  |  |  | (47,475,613 | ) |  |  | (35,354,179 | )
Net Intangible Assets |  |  |  | $ | 98,891,767 |  |  | $ | 111,013,201 |
Annual estimated amortization of intangible assets for the next five fiscal years are as follows:
Years Ended March 31, |  | Estimates for Fiscal Year |
2026 |  | $ | 12,121,433 |
2027 |  |  | 12,055,846 |
2028 |  |  | 12,049,884 |
2029 |  |  | 12,049,884 |
2030 |  |  | 12,049,884 |
Thereafter |  |  | 38,564,836 |
|  | $ | 98,891,767 |

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