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SUPPLEMENTAL BALANCE SHEET INFORMATION | 6 Months Ended
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Sep. 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:
|  | September 30, 2025 |  |  | March 31, 2025 |
Accounts receivable |  | $ | 12,027,841 |  |  | $ | 13,994,499 |
Less: allowance for credit losses |  |  | (3,171,931 | ) |  |  | (3,805,488 | )
Accounts receivable, net |  | $ | 8,855,910 |  |  | $ | 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/(reduction) in allowance |  |  | 38,049 |
Write-off of uncollectible amounts |  |  | (671,606 | )
September 30, 2025 |  | $ | 3,171,931 |
Property and Equipment Property and equipment consisted of the following at September 30, 2025 and March 31, 2025:
|  | September 30, 2025 |  |  | March 31, 2025 |
Leasehold improvements |  | $ | — |  |  | $ | 247,725 |
Furniture and fixtures |  |  | 19,792 |  |  |  | 331,483 |
Software and equipment |  |  | 10,047,708 |  |  |  | 9,249,946 |
Construction in progress |  |  | 617,436 |  |  |  | 733,384 |
Total property and equipment |  | $ | 10,684,936 |  |  | $ | 10,562,538 |
Less accumulated depreciation |  |  | (3,685,401 | ) |  |  | (4,084,854 | )
Net property and equipment |  | $ | 6,999,535 |  |  | $ | 6,477,684 |
Depreciation expense for the three and six months ended September 30, 2025 totaled $545,232 and $1,024,895, respectively, and was included in depreciation and amortization expenses in operating expenses on the condensed consolidated statements of operations. Depreciation expense for the three and six months ended September 30, 2024 totaled $345,118 and $660,563, respectively, and was included in depreciation and amortization expenses in operating expenses on the condensed consolidated statements of operations. Accrued Liabilities At September 30, 2025 and March 31, 2025, accrued liabilities were as follows:
|  | September 30, 2025 |  |  | March 31, 2025 |  |
Accrued bonus program |  | $ |  | 1,012,500 |  |  | $ |  | 1,831,250 |  |
Accrued professional fees |  |  |  | 695,269 |  |  |  |  | 4,682,183 |  |
Accrued payroll |  |  |  | 905,424 |  |  |  |  | 764,174 |  |
Other accruals |  |  |  | 972,058 |  |  |  |  | 674,735 |  |
Income taxes payable |  |  |  | 394,065 |  |  |  |  | 394,065 |  |
Accrued contingency |  |  |  | 2,750,000 |  |  |  |  | 29,067,229 |  |
Accrued liabilities |  | $ |  | 6,729,316 |  |  | $ |  | 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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