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Property, Plant, and Equipment, Net | 3 Months Ended
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Jun. 30, 2023
Property Plant And Equipment [Abstract] |
PROPERTY, PLANT, AND EQUIPMENT, NET | NOTE 8 – PROPERTY, PLANT, AND EQUIPMENT, NET Property, plant, and equipment, net consisted of the following:
|  | As of |  |  | As of |
|  | June 30, 2023 |  |  | March 31, 2023 |
Land (3) |  | $ | 2,200,334 |  |  | $ | 2,200,334 |
Property and buildings (3) |  |  | 9,308,426 |  |  |  | 9,308,426 |
Equipment and machinery |  |  | 11,855,770 |  |  |  | 11,853,445 |
Office and electric equipment |  |  | 1,021,824 |  |  |  | 992,735 |
Automobiles |  |  | 871,275 |  |  |  | 871,756 |
Leasehold improvements |  |  | 4,118,883 |  |  |  | 4,088,980 |
Subtotal |  |  | 29,376,512 |  |  |  | 29,315,676 |
Construction in progress (1)(2) |  |  | 8,617,332 |  |  |  | 7,182,367 |
Less: Accumulated depreciation and amortization |  |  | (14,738,487 | ) |  |  | (14,142,469 | )
Property, plant and equipment, net |  | $ | 23,255,357 |  |  | $ | 22,355,574 |
(1) | In January 2022, the Company commenced a construction project of an expansion of the Company’s own premises in Al Tajamouat Industrial City, Jordan. Through June 30, 2023, the Company had paid approximately JOD 874,000 (approximately $1,233,000) and the entire balance was recorded as construction in progress. The project is completed and start to use in July 2023.
(2) | In April 2022, the Company commenced a construction project to build a dormitory for employees. The construction is built on a land of 4,516 square meters (approximately 48,608 square feet) in Al Tajamouat Industrial City, Jordan, which was acquired by the Company in 2020. The dormitory is expected to cost $8.8 million. Through June 30, 2023, the Company had spent approximately JOD 5.2 million (approximately $7.4 million) for the construction. The dormitory is expected to be completed and ready for use by end of 2023.
(3) | In August 2022, the Company completed the acquisitions of Ever Winland and Kawkab Venus. Ever Winland holds office premises of HKD 39.6 million (approximately $5.1 million), which are classified as property and buildings. Kawkab Venus holds land with factory premises, which are classified as land and property and buildings of approximately $370,000 and approximately $2.3 million, respectively. Ever Winland and Kawkab Venus only contain fixed assets (buildings and land) and neither of these two entities had any other assets or liabilities, operations, or employees as of their respective acquisition dates, so the acquisitions of Ever Winland and Kawkab Venus were accounted as asset acquisitions.
For the three months ended June 30, 2023 and 2022, depreciation and amortization expenses were $608,776 and $630,999, respectively.

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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//1943274/2147480321/958-360-50-6 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//1943274/2147480321/958-360-50-1 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//1943274/2147480321/958-360-50-7 + Details
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