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SUPPLEMENTAL BALANCE SHEET INFORMATION | 3 Months Ended
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Jun. 30, 2025
Balance Sheet Related Disclosures [Abstract] |
SUPPLEMENTAL BALANCE SHEET INFORMATION | NOTE 5 – SUPPLEMENTAL BALANCE SHEET INFORMATION Accounts Receivable Our net accounts receivable are summarized as follows:
|  | June 30, 2025 |  |  | March 31, 2025 |
Accounts receivable |  | $ | 12,544,721 |  |  | $ | 13,994,499 |
Less: allowance for credit losses |  |  | (3,596,273 | ) |  |  | (3,805,488 | )
Accounts receivable, net |  | $ | 8,948,448 |  |  | $ | 10,189,011 |
The following presents a reconciliation of our allowance for credit losses for the periods presented:
April 1, 2025 |  |  | 3,805,488 |
Increase in allowance |  |  | 168,500 |
Write-off of uncollectible amounts |  |  | (377,715 | )
June 30, 2025 |  | $ | 3,596,273 |
Property and Equipment Property and equipment consisted of the following at June 30, 2025 and March 31, 2025:
|  | June 30, 2025 |  |  | March 31, 2025 |
Leasehold improvements |  | $ | 209,113 |  |  | $ | 247,725 |
Furniture and fixtures |  |  | 321,720 |  |  |  | 331,483 |
Software and equipment |  |  | 10,087,955 |  |  |  | 9,249,946 |
Construction in progress |  |  | 619,910 |  |  |  | 733,384 |
Total property and equipment |  | $ | 11,238,698 |  |  | $ | 10,562,538 |
Less accumulated depreciation |  |  | (4,352,985 | ) |  |  | (4,084,854 | )
Net property and equipment |  | $ | 6,885,713 |  |  | $ | 6,477,684 |
Depreciation expense for the three months ended June 30, 2025 and 2024 totaled $479,663 and $315,445, respectively, and was included in depreciation and amortization expenses in operating expenses on the condensed consolidated statement of operations. Accrued Liabilities At June 30, 2025 and March 31, 2025, accrued liabilities were as follows:
|  | June 30, 2025 |  |  | March 31, 2025 |  |
Accrued bonus program |  | $ |  | 627,017 |  |  | $ |  | 1,831,250 |  |
Accrued professional fees |  |  |  | 1,977,999 |  |  |  |  | 4,682,183 |  |
Accrued payroll |  |  |  | 1,063,430 |  |  |  |  | 764,174 |  |
Other accruals |  |  |  | 1,645,582 |  |  |  |  | 674,735 |  |
Income taxes payable |  |  |  | 394,065 |  |  |  |  | 394,065 |  |
Accrued contingency |  |  |  | — |  |  |  |  | 29,067,229 |  |
Accrued liabilities |  | $ |  | 5,708,093 |  |  | $ |  | 37,413,636 |  |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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