SUPPLEMENTAL BALANCE SHEET INFORMATION

12 Months Ended

Mar. 31, 2025

Balance Sheet Related Disclosures [Abstract]

NOTE 5 – SUPPLEMENTAL BALANCE SHEET INFORMATION

Accounts Receivable

Our net accounts receivable are summarized as follows:


	March 31, 2025			March 31, 2024
Accounts receivable	$	13,994,499		$	13,800,818
Less: allowance for credit losses		(3,805,488	)		(3,004,385	)
Accounts receivable, net	$	10,189,011		$	10,796,433

The following presents a reconciliation of our allowance for credit losses for the periods presented:


April 1, 2023	$	2,566,917
Increase in allowance		1,831,900
Write-off of uncollectible amounts		(1,394,432	)
March 31, 2024		3,004,385
Increase in allowance		1,503,700
Write-off of uncollectible amounts		(702,597	)
March 31, 2025	$	3,805,488

Property and Equipment

Property and equipment consisted of the following at March 31, 2025 and March 31, 2024:


	March 31, 2025			March 31, 2024
Leasehold Improvements	$	247,725		$	247,725
Furniture and Fixtures		331,483			331,483
Software and Equipment		9,249,946			6,198,213
Construction in Progress		733,384			429,210
Total property and equipment	$	10,562,538		$	7,206,631
Less accumulated depreciation		(4,084,854	)		(2,668,593	)
Property and equipment, net	$	6,477,684		$	4,538,038

Depreciation expense for the years ended March 31, 2025, 2024, and 2023 totaled $1,378,619, $867,040, and $529,003, respectively, and was included in depreciation and amortization expenses in operating expenses on the consolidated statement of operations.

Accrued Liabilities

At March 31, 2025 and March 31, 2024, accrued liabilities were as follows:


	As of March 31,
	2025		2024
Accrued bonus program	$	1,831,250	$	786,885
Accrued professional fees		4,682,183		1,134,368
Accrued payroll		764,174		265,883
Other accruals		674,735		272,926
Income taxes payable		394,065		394,134
Accrued contingency		29,067,229		-
Accrued liabilities	$	37,413,636	$	2,854,196